The whiners

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DOUG  By Guest Blogger Doug Rowat
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Justin Trudeau and Donald Trump. Quite the pair.

Political and ideological opposites, but near identical twins when it comes to courting controversy.

For Trudeau, the list of controversies includes—but is certainly not limited to—the SNC Lavalin Affair, which involved unethical political interference and estranged (to put it mildly) his justice minister, the WE Charity scandal, which forced his finance minister to resign in disgrace, and more recently, the firing of his appointed governor general, who it turns out no one could stand working for. Brownface scandals can be thrown into this mix as well.

I won’t even bother attempting to compile a list for Trump.

However, the point is that both of them, in part because of these controversies, have been blamed by Canadians and Americans, respectively, for…well…almost everything under the sun. And usually the criticisms imply that their policies have contributed to every individuals’ lack of financial success.

However, anyone who attributes their own personal failures, particularly their financial failures, to the actions of the leaders of two of the most prosperous nations on Earth is a loser.

GDP growth in Canada has been positive five of the six full years Trudeau’s been prime minister (the one negative year, of course, coming during the pandemic lockdown of 2020) and last year Canadian GDP grew at an impressive 4.6%. Our equity market, meanwhile, has returned nearly 11% annually since Trudeau won his first election in October 2015 (see table below). Similarly, during Trump’s presidency, the S&P 500 gained more than 14% annually and the US economy, again with the exception of 2020, grew strongly. You may feel both countries could have done better with different leadership, and this may be accurate, but who cares? If you were planning your financial life correctly, you could have prospered under either’s leadership.

No excuses: US & Canadian equity-market performance under Trudeau & Trump

Click to enlarge. Source: Bloomberg. Time periods are from election dates. Trudeau, Oct 19, 205 to present. Trump, Nov 8, 2016 to Nov 3, 2020

Consider also if your biases are preventing you from reflecting critically on the political parties that you do favour. My observation of the comments section, for instance, is that Trudeau, of course, is a target of endless derision, but rarely do I see criticism directed at our country’s Conservative Party, which has been unable to defeat him over the past three federal elections. I also recall many Democrat pundits saying prior to the 2016 US presidential election that Trump ran the worst presidential campaign in US history. Well, if that was the case, what does that say about the Democratic campaign which was soundly beaten by Trump’s?

Also show me someone who constantly scapegoats leadership and I’ll show you someone who isn’t self-reliant. Trudeau or Trump have prevented you from being successful? Get over yourself. You weren’t successful because you either didn’t risk sufficiently, didn’t invest correctly, didn’t work hard enough or didn’t adapt. For some dumb reason, I went to university to study English then to college to study book and magazine publishing. I quickly realized that there was zero money to be made in either specialty. I certainly didn’t blame Jean Chretien for my predicament. I instead re-educated myself and went into finance. The comment section will inevitably include some anecdote about how the Trudeau or Trump governments ground down some innocent group or individual. But such stories are anomalies. Again, Canada and the US are two of the richest nations in the world. If you couldn’t improve your financial well-being during the tenure of either leader, it’s your fault.

Recognize also what you can’t control and don’t waste time focusing on it. Trudeau has been elected to the House of Commons as MP five times and three times as prime minister. The Liberals and NDP just got super cozy and their left-leaning coalition government will remain in power until 2025. You may not like any of this, but this is the reality. Similarly, you may not like the idea of Trump running for president again in 2024, but it will likely happen. He does, after all, have 56% support from Republican voters (Mike Pence, in comparison, barely gets 10% support). This too is the reality.

However, in both cases, stop whining, stop complaining and instead focus on the things that you can control, namely your own personal, professional and financial decisions.

Invest prudently through balance and diversification, seek sound financial advice, improve your skills, and take some risks.

And stop blaming T2 and Big Donny for all your problems.

Doug Rowat, FCSI® is Portfolio Manager with Turner Investments and Senior Investment Advisor, Private Client Group, Raymond James Ltd.

 

140 comments ↓

#1 TurnerNation on 04.02.22 at 12:07 pm

QQQ at a bit of a level here. Do or die?

https://finviz.com/quote.ashx?t=QQQ&p=w&tas=0

— We are back to normal guys! Say how’s the ‘Hospital Capacity’ these days? It should be gold plated with this spending.

““Canada’s national debt is already more than $1 trillion and it’s going up by almost $400 million every day” (torontosun.com)

— On the Permanent State of Emergency in Kanada, see now almost mid 2022, they will “study” its removal. The narrative must be kept going. What our leaders fear is us smiling, and organizing.

https://globalnews.ca/news/8725731/quebec-government-looks-to-retain-some-state-of-emergency-powers/
“Quebec begins study of bill to end state of emergency”

.Mask mandates may be lifted, but now is not the time take them off, experts say (ctvnews.ca)

.Feds spent more than $600K hiring influencers in 2021 (ctvnews.ca)

.New York City will seek to keep a mask mandate for preschoolers amid a rise in cases involving BA.2 (nytimes.com)


— Control over. CBC admits that which I’ve been typing for years. Intercity travel is doomed once electric cars are forced onto us. Trapped in your UN Smart City Comrade. You are free to leave at any time.

“See the USA in a Chevrolet”? “Get your kicks on Route 66”? I don’t think so.

https://www.cbc.ca/news/science/what-on-earth-electric-vehicle-road-trips-1.6404028
“It’s a laudable idea, but my two experiences with “Canada’s Electric Highway” were not reassuring. The first time, my wife and I stood dumbfounded in front of a Petro-Canada charging machine, unable to get either the app or a credit card to initiate the process. “

#2 Mr Happy on 04.02.22 at 12:11 pm

Best “reality check” post ever!! However….

Cue the cry babies in 3… 2… 1…

#3 crowdedelevatorfartz on 04.02.22 at 12:15 pm

Trudeau ?
I blame the lack of viable opposition choices in the past few federal elections.
Scheer? Erin O’Toole? What were they thinking?
This was the best the Cons had to offer?
Or was it more about favours owed by the “rank”ing party faithful?
Pathetic.
Either way . A disgusting lack of leadership choices.

Pollivere has pulled out into the front of the Conservative pack with his endless , excellent visceral jabs at Trudeau and his band of pc lickspittles.
Will it be enough?
Doubtful.
His “in your face” style works in Parliament but probably won’t fly with the pc, Woke, anti bullying crowd.

Unless Trudeau’s luck at being in charge as the western economy boomed over the past few years.
I’m thinking economic T2’s luck is about to change and there will be a lot of angry, financially strapped voters in the next few years ….
2025 is a lifetime in an alliance of convenience between two leaders that trust each other as much as the Ukrainian and Russian “peace” negotiators.

#4 B from Q on 04.02.22 at 12:17 pm

So, pandemic is over?

Each one has to hold politicians accountable for the whole of their mandates and not just based on promises in the election year. No excuses for voted or for voters.

#5 Zappabooms on 04.02.22 at 12:19 pm

The big question is why are the world cup seeding groups called “pot”? Were the Bilderberg Conference coffee breaks spiked with space cake from Amsterdam?

#6 Paul on 04.02.22 at 12:20 pm

“Trudeau, Oct 19, 205 to present.”
Give Trudeau a break! It’s not easy
being Prime Minister for 1,817 years…

#7 Jeff Smith on 04.02.22 at 12:20 pm

Here Here, Dr. Doug! Well put. You should come out to Alberta and give a series of lectures, but make sure to bring a flack jacket and military issue helmet, because EVERYTHING is Trudeau’s fault. It’s all part of the Alberta Big Lie, where T1’s NEP was the absolute sole cause of the decade long economic swoon through the eighties, while nothing is ever said about the world barrel of oil topic out in 1980 and then sliding precipitously into the forties dollar-wise for the rest of the decade. Mr. Kenney is still reaping the benefits of that whopper.

#8 Linda on 04.02.22 at 12:20 pm

Doug, right ON! Like you I’ve noted the tendency to blame others for whatever predicament one is in, especially any financial predicament. It is NEVER the fault of the one complaining – nope, the Boomers, parents, government, coworker, family member or friend is why so & so is under water & sinking rapidly. I can honestly say that I myself have never been forced to spend $ on purchases I have made. If I overspent or spent foolishly, the only person I could blame was the one looking back at me in the mirror.

What I can & do blame leaders for are poor economic decisions or actions that impact the citizens of their country. As I commented the other day, government money is our money. Our tax money. And unless I renounce citizenship & leave Canada, the debt & economic fallout of poor planning is borne by all Canadians, not just the elected officials who decided how to spend it. Yes, we elected them but our elected officials very rarely consult their electorate prior to making a decision. In fact they not infrequently make a decision despite widespread protests against. My main issue with our current electoral system is that voters are only paid attention to during an election. The rest of the time it is the party platform that shapes policy or as become far too common, the personal benefit or agenda of those elected.

#9 Rowat's Truth on 04.02.22 at 12:22 pm

This post is the absolute truth. When we look at the progress that has happened in the past few hundred years and look at our lives compared to human lives throughout history and over geography the one thing that should resonate is gratitude. It always boggles my mind how much people blame government for things when, with any degree of objective historical perspective, we live in the best of times (COVID notwithstanding). Things keep getting better, and I suspect that trend will continue. And that’s how I invest.

#10 mike in Airdrie on 04.02.22 at 12:33 pm

Ha I love a good dose of reality. You wanna know what the problem is? Look in the mirror buddy!

#11 MergersAcquisitions on 04.02.22 at 12:35 pm

You can always blame globalization, mergers & acquisitions instead of the pols asleep at the switch.

Sure, MegaCorp, you can grow to such a large size (Google, Caterpillar, Honeywell, Luxottica, Whirlpool, etc…) through acquisitions: Buying your competitors or any up-and-coming mid-sized business threats…

MegaCorp doesn’t need two HR, IT, accounting, sales, etc departments, so the job losses are significant after a merger. Also, competition in the marketplace is eroded… (Maytag, Inglis, Amana, Kenmore, all made by Whirlpool)

But don’t worry: Just keep your skills updated and be ready when the next merger/acq pulls the rug from under your career path. The merging of companies will continue unabated, so be prepared !!

#12 Ustabe on 04.02.22 at 12:39 pm

To add a little more fuel to the fire you probably lit here today Doug, I’ll share a factoid I stumbled across a few days ago.

Of the 42 million jobs created in the US since 1985, 40 million (95%) have been created under a Democrat President.

#13 Søren Angst on 04.02.22 at 12:47 pm

Well, someone has a bee in their bonnet today.

Yesterday Garth vs. Fools, today Doug vs. Slackers.

LOVE IT.

Every.last.word.of.it.

#14 Canadian Whines on 04.02.22 at 12:49 pm

Canada is full of entitlement. No argument there. Overall loser society increasingly dependent on the state.

A paternalistic “I pulled myself up by the bootstraps” rant from a financial advisor should be just the thing to sort that out.

Talk about “get over yourself” lol

#15 Dogman01 on 04.02.22 at 12:51 pm

“You have brains in your head.
You have feet in your shoes.
You can steer yourself any direction you choose.
You’re on your own.
And you know what you know.
And you are the guy who will decide where you go.”

– Dr. Seuss, Oh, the Places You’ll Go!

“Concentrate on using you life to achieve some good for yourself, and others. Railing against the gods wastes your most precious gift, while changing nothing.” — Garth Turner

—————————————
Anyone know of a Canadian Listed ETF that tracks a Global Resource sector and energy?
XEG is interesting however I expect the current regime to ratchet up the punitive action on Canadian O&G, as they simply cannot stand to see their narrative undermined by bonkers success of Canadian energy. It goes against both the Green moralizing and creates a rival power base to the Laurentian Elite.

Butter at $8 in the “free trade” gulag called Canada while it is $3.49 at Kroger in the free market USA.

I got a letter in the mail today, looks like my Family Doctor has emigrated….

#16 Barry on 04.02.22 at 12:55 pm

Agree with being self directed without complaining about “the situation”. By the way – Trump didn’t soundly beat Clinton. Remember she garnished 3 million more votes but it was the electoral college which decided the outcome. Stock markets by the way have traditionally been better under Democrat rather than Republican administrations since the end of the Second World War. At least that was the case up until 2016 and since I do not have the data.

#17 Dave from Edmonton on 04.02.22 at 12:56 pm

Dear Doug Rowat, best blog you have written in years. You nailed it, I just wish I had the backbone to tell my friends that face to face. Personal responsibility has vanished in most youth, sadly. I’m ready for retirement, but sadly, many of my friends will be facing poverty in their old age.
Personal responsibility, except for a sliver of Canadians, is lost on our population. They actually think that the government programs will take care of them in their senior years. Some of my friends are pure suckers for believing that line. I’m thankful that I have invested for my own future, and I’m thankful for the blog.
Have a great weekend and be thankful for all you have.

#18 Quintilian on 04.02.22 at 1:02 pm

The facts speak for themselves.

Not a comprehensive list of accomplishments by the Liberal Government, however it is somewhat of a confirmation as to why the misanthropes, misogynists, homophobic, xenophobes, antivax,
anti-environmental, knuckle dragging, rural grade politicians in the Conservative Party, will not likely obtain political power in Canada for many decades.

And must I, again, remind the curmudgeons, Trudeau did not cause the housing bubble!

#19 DON on 04.02.22 at 1:04 pm

BAM!..Doug provides the medicine.

Reality can bite, that’s for sure.

But I don’t know…cause I believe whadda my peer group thinks. LMAO…ha ha ha ah ha ha ha.

Expect some flak Doug, you just dropped a truth bomb.

#20 Overheardyou on 04.02.22 at 1:17 pm

It’s always easier to blame someone else for one’s mistakes, just look at all the apologies and being demanded for actions that took place a century ago.

#21 Søren Angst on 04.02.22 at 1:28 pm

Rains. Pours.

New variant XE. 10% more contagious than Omicron?

600 cases so far in UK (Typhoid Mary Central: 4.9 million people estimated to have had COVID-19 in the week ending 26 March, 337,661 new sympto cases 31 March).

Coles Notes version
https://www.tgcom24.mediaset.it/mondo/covid-scoperta-nuova-variante-xe-e-piu-contagiosa-di-omicron-2_48201291-202202k.shtml

Verbose version *
https://uk.news.yahoo.com/omicron-xe-coronavirus-variant-infections-world-health-organization-113059487.html

Geek version
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1063424/Tech-Briefing-39-25March2022_FINAL.pdf

—————–

Of course nobody seems to talk about lethality or Case Fatality Rated. Too early?

* And they call us Italians chatty.

#22 Shawn on 04.02.22 at 1:32 pm

WINNERS WIN and LOSERS LOSE

I coined that horribly politically incorrect observation some 20 years ago.

Of course it is not always true by any means, and some people are dealt a very poor hand in the game of life but it explains the outcomes in all aspects of life an awful lot of the time.

Great column today

Worth repeating:

“However, anyone who attributes their own personal failures, particularly their financial failures, to the actions of the leaders of two of the most prosperous nations on Earth is a loser.”

#23 Dan on 04.02.22 at 1:37 pm

My issue with Trudeau is how much he is spending and how wasted all these money are. I would be fine with a realistic green strategy, building up our military and the child care subvention program. Even some payouts for the FN – not the tens of billions that get being mentioned.

The issue is that most of the money go to silly things like the “menstrual fund”, fighting systemic racism, indigenous compensation for the various complaints – which by the way receive more money than the army -and a quite a few others equally “important”. They are even dabbing into BMI which is a horror from a socio-economic perspective. As someone who grew up in a communist country I can state that it does not work.

People do not realize that the interest payments for all these frills will distort the budget for years to come – less money for healthcare, education, infrastructure – you name it.

This is what you get when the students take over the school management. Mourneau was the last adult in that bunch, and they pushed him out.

#24 Dr V on 04.02.22 at 1:37 pm

12 Ustabe

“Of the 42 million jobs created in the US since 1985, 40
million (95%) have been created under a Democrat
President.”
————————————

Needs some context

US pop 1985 237.9M
US pop 2021 332.9M

Also need to know breakdown of jobs – Pay? Sector?
Public or private?

#25 Winterpeg on 04.02.22 at 1:48 pm

Interesting post today Doug.
I chose Nursing over becoming a struggling artiste, and am financially grateful I made that decision. Also I educated myself in personal finance through means such as this blog. It paid off. I retirement now I can practice my art now with a little more peace of mind.

#26 Earlybird on 04.02.22 at 1:51 pm

Truth!! Well said!
The whining has becoming mindnumbing!

I used to lean conservative…but they now come across as really dated with no forward thinking at all…

Libs may not be perfect….but at least they try to trailblaze….time to move into a smarter future…

#27 BK on 04.02.22 at 2:02 pm

It’s not always about the money….

#28 Philco on 04.02.22 at 2:05 pm

Trudeau the r=tard.
Just DT Van going to a wedding.
Their putting up a 50 story building next to our $400 nite hotel.
Does anyone know how much carbon that creates? How about 1.5 million houses in Mr Fords land.
The Olympics build out? Anyone.
Do you actually know the scam being perpetrated to increase taxes on you to save us all?
Does anyone see whats really going on?
Good luck on afording to live a common life in the future.
You voted for that boy crook.

#29 FFGJ on 04.02.22 at 2:09 pm

“show me someone who constantly scapegoats leadership and I’ll show you someone who isn’t self-reliant.”

This is a great quote to ponder.

#30 Earlybird on 04.02.22 at 2:11 pm

#7 Jeff Smith
You are so right about Alberta, easy oil money made us lazy and very entitled. Born and raised here and you can’t even say “Trudeau” without peoples heads exploding!
An even bigger failure is a century of oil wealth and not much to show for it!
The sad part is we will vote for the same ol here, and it fits the definition of insanity….

#31 Wallflower on 04.02.22 at 2:12 pm

“soundly beaten” reflects the screwy electoral systems of both countries where recent majority vote numbers did not convert into wins by the losing party

#32 IHCTD9 on 04.02.22 at 2:19 pm

Good post Mr R, I like the stoic bent.

Indeed, has the IH household increased its wealth under Trudeau? Oh yeah – massively. And for no effort on our part. I’m not going to fret too much over it since I like money as much as the next guy. I do feel bad for youth and newcomers though, but hey – I didn’t vote for this.

Our house has doubled in value since Trudeau took power, and all I did was live in the thing. I have a garage full of toys paid for by entitlements like CCB that I never needed. Hell, I even managed to bank a round of CERB that was also not required. AITA? What-ev. YAMAHA may still stuff the 108 HP 1000cc twin cylinder freight train into the Grizzly chassis yet, and if they do, I can thank Trudeau for putting one in my garage. I think I’ll get the real-tree camo version this time.

Obviously, I think Trudeau is a dunce. But, I do 100% attribute the doubling of my net worth to him. Not sure what to think of it, and won’t likely waste too much time worrying about it either. If he gets voted in again, maybe there’ll be a new GMC Trail Boss in the garage next to my fresh Griz 1000.

I’m good with that.

#33 MicroGX on 04.02.22 at 2:21 pm

Good post Doug.

#34 Old Boot on 04.02.22 at 2:23 pm

#12 Ustabe on 04.02.22 at 12:39 pm

To add a little more fuel to the fire you probably lit here today Doug, I’ll share a factoid I stumbled across a few days ago.

Of the 42 million jobs created in the US since 1985, 40 million (95%) have been created under a Democrat President.

**************
https://www.newsweek.com/us-jobs-income-gdp-growth-startlingly-higher-under-democratic-presidents-analysis-1566313

“The annual growth rate of nonfarm jobs increased by 2.8 percentage points under Democratic presidents elected since 1933, compared to just 1 percent under GOP presidents during the same time period. Similarly, America’s GDP grew annually at 4.6 percent under Democrats, compared to 2.4 percent under Republicans.”

But the jobs created under Republican administrations generate proportionally greater GDP gains. So the Dem’s job creation strategies reduce the GDP per capita more than Rep strategies.

Dems make all working stiffs a little poorer, while Republicans make some a little richer.

#35 RowatNation aka Prince Polo on 04.02.22 at 2:28 pm

I can mosdef control this comment and agree that the Cons are lame ducks when it comes to mounting a competent defence at the federal elections! Maybe next time will be different…….announcing Stephen Harper Jr?

#36 Midnight’s on 04.02.22 at 2:29 pm

Comparing Trudeau to Trump, lol. Can’t be done, sir.
Trump increased employment across all classes of people, there were no wars under the Trump Administration. Oil and gas prices were at all time lows. The U.S. went from an importer of oil to an exporter of oil. Everything Trump said about Hillary, spying, cheating during the election, the pipeline being crushed, that oil would go up in price, that taxes would raise, the price of going Green would be to the sky. Maybe you should find better researchers or better people to read. They should give Trudeau and Biden Cognitive Test, lmao.

#37 Midnight’s on 04.02.22 at 2:41 pm

Maybe these found ballets would of made a difference in the election, lol.

https://torontosun.com/news/national/elections-canada-205000-mail-in-ballots-were-not-counted/wcm/fc92a391-61f2-4da2-9104-e402ca4f2639/amp/

#38 PeterfromCalgary on 04.02.22 at 2:46 pm

My biggest beef with Trudeau is he never writes me back when I explain why he should resign.

#39 dragonfly58 on 04.02.22 at 2:48 pm

Hi Doug, agree completely with your post. And apart from the risk / investing part I have been doing much as you advise for the last 40 years or more.
My aversion to risk , combined with very cautious spending ,plus a big investment in career oriented post secondary education allowed me to . Get a start in my career during the very dark 1980’s economic reality here in British Columbia.
Bought and paid for a house, raised a family, but little left over . B.C. has had a pretty high cost of living for all of my life and the only way my wife and I have survived is by having a very live within your means lifestyle. Anything involving financial risk was avoided like the plague.
We are now both retired, modest pensions, small savings, 0 debt, two aging cars, and a house that is slowly turning to compost here in the rain forest.
Thus the dilemma . A , invest the tiny amount left over each month after living expenses and the building material bills for that month are paid. But essentially live like Monk’s so at an undefined time in the future we have a bit of a portfolio. Needless to say by then we would be quite old.
B, Just keep on going as best as we can, doing what we have been doing for decades. Pinch every penny, clip every coupon, slowly { or not so slowly } loose ground to inflation. Put a bit of cash aside to have a tiny bit of life outside of paying bills. Very frugal travel, my wife’s passion. I keep picking away on the rebuild of my vintage MG etc. , my passion.
Or C ??? Beats me what this would even look like.

#40 BMC in the OkV on 04.02.22 at 2:52 pm

Hello Doug.

Very. Well. Said.

#41 Philco on 04.02.22 at 3:01 pm

#6 Paul on 04.02.22 at 12:20 pm
“Trudeau, Oct 19, 205 to present.”
Give Trudeau a break! It’s not easy
being Prime Minister for 1,817 years…
==================
Lol.
Its actually easy if you have brains and or balls.
Hard to come by these days eh?

If you want to make money bet against everything your gov says to do. It worked for me.
Btw Trump was pro biz an T2 hates mining and oil. Lucky for us eh?

#42 dragonfly58 on 04.02.22 at 3:16 pm

P.S. , leaving the Lower Mainland not really an option. Both wife and I have elderly parents here. As they get older their dependence on us increases.
Wife refuses to move to bunny patch . My sister lives in the South Cariboo. 100 Mile House area. You really have to go that far away from our current location to see any price advantage on property. Balance that with the vehicle needs for a true Canadian winter vs the bit of slush our old beaters cope with fine here in the Vancouver area.
Wife is a total fish out of water in hicksville B.C. holds her nose as long as a visit to my sisters place is a day or two in duration but breathes a big sigh of relief once we hit the Fraser valley.
I can’t imagine a 5 hour { summer , who knows winter } drive to everything I do each year for social activities.
I am not and will never be a hunting , fishing , quading, snow machine person . So where would we move to that the benefit would outweigh the problems ?

#43 Ponzius Pilatus on 04.02.22 at 3:19 pm

However, anyone who attributes their own personal failures, particularly their financial failures, to the actions of the leaders of two of the most prosperous nations on Earth is a loser.
—————————-
Completely agree.
Ironically, most of these losers, live by the “personal responsibility” credo.

#44 WTF on 04.02.22 at 3:20 pm

Not blaming anyone for my personal situation. How about the future generations who don’t even vote yet?
Trump, I cant vote in that country so not relevant to me.

Here in utopia further fiscal damage is inflicted on the next generations by a rudderless government that puts ideology before common sense is my concern.

Your peers in the business community are not exactly gushing with compliments for this government and it’s leadership. Debt, taxation, Productivity and investment are the boat anchors we will all have to deal with once wonder boy and his cabal of financial idiots have left. Incompetence should as always be challenged. So yes I will blame this government for hampering the future generations by their asinine and hamfisted actions.

https://www.theglobeandmail.com/business/article-the-big-rift-corporate-canada-wants-ottawa-to-focus-on-real-growth-not/

This budget promises to be a doozy…..

#45 Summertime on 04.02.22 at 3:20 pm

Just watched on CNN – cost of ingredients more than doubling for a year for small bakeries.

And ‘inflation’ is apparently 6- 8 %. Sure.

So Doug, is the ‘growth’ of 11 % real if inflation is 12-15 %?

As for whining, I agree with that. Stop whining, get that 2nd, 3rd, 4th job, get that intergenerational 50 years interest only mortgage, learn investing, kung-fu and tai chi, ikebana, kama sutra, find a good financial advisor and most importantly s skilled psychiatrist, invest prudently and with balance, diversification, specially in quality lubricants and live happily ever after.

It is that simple. There is plenty of opportunities to invest these magical 200 bucks that separate the majority from bankruptcy in order to get well off through the magic of compound investing.

Amen.

Just stop complaining please. Specially about the socks boy with negative IQ. It is so annoying and unworthy.

#46 Ponzius Pilatus on 04.02.22 at 3:26 pm

Yesterday’s post as about fools.
Today’s is about whiners and losers.
Covers about 89% of the steerage section.

#47 Doug Rowat on 04.02.22 at 3:29 pm

#36 Midnight’s on 04.02.22 at 2:29 pm
Comparing Trudeau to Trump, lol. Can’t be done, sir…

…Maybe you should find better researchers or better people to read. They should give Trudeau and Biden Cognitive Test, lmao.

—-

You get, at least for the purposes of this post, that I’m not criticizing Trump, right?

You can line yourself up for the same test.

—Doug

#48 Catalyst on 04.02.22 at 3:33 pm

much elitism – equating stock market returns with financial wellness. Remember the V shaped recovery, main street in shambles, wallstreet back to normal in 3 months. Who cares as long as the financial markets are manipulated back up right?

GDP per capita growth is one of the worst in the OECD nations under trudeau. Quality of life has deteriorated meaningfully with housing affordability at 31 year lows in affordability and ICU beds per capita near the worst in the world at 1.7/1000.

Outside of cews handouts, which were great for business and terrible for taxpayers, I can’t thing of one thing he’s done right for business.

Anything we accomplish, we do despite of Trudeau, not because of him.

#49 Flop… on 04.02.22 at 3:35 pm

Saw one last week, didn’t think much of it , saw another yesterday.

Struggling to process the economic side of buying a Tesla to use it as an Uber driver.

Please explain…

M47BC

#50 AK on 04.02.22 at 3:36 pm

It’s wall street that hates Trump for some reason. Not main street. The Democrats spent 4 years in trying to remove a sitting president.

#51 Ponzius Pilatus on 04.02.22 at 3:40 pm

In my days managing people, I always had some whiners on my staff.
And I told them: “Nothing wrong with complaining, as long as you can suggest a better way”.
Shut them up quickly.

#52 bob on 04.02.22 at 3:54 pm

We know what to expect with the NDP…

so I blame everyone who voted Liberal but didn’t want NDP, because the Liberals under Trudeau have veered sharply to the left. And if that’s not what you wanted, the blame starts at your vote.

#53 Philco on 04.02.22 at 4:09 pm

DELETED

#54 Andrew on 04.02.22 at 4:14 pm

GDP isn’t reflective of an individual’s financial state unless the gains are distributed evenly across the population. There are many reasons why someone may be struggling financially outside of their own personal choices. Not being an heir to the Thomsons or Westons comes to mind.

#55 Doug Rowat on 04.02.22 at 4:14 pm

#44 WTF on 04.02.22 at 3:20 pm
Not blaming anyone for my personal situation. How about the future generations who don’t even vote yet?
Trump, I cant vote in that country so not relevant to me.

Here in utopia further fiscal damage is inflicted on the next generations by a rudderless government that puts ideology before common sense is my concern.

—-

What’s your level of concern? Limited to this complaining post, or have you campaigned heavily for your local Conservative Party delegate the past 3 elections?

It’s for the kids, right?

—Doug

#56 crowdedelevatorfartz on 04.02.22 at 4:24 pm

@#26 earlybird
“Libs may not be perfect….but at least they try to trailblaze….”

+++

Trailblaze.
Is that what “doubling the National Debt in 5 years” is called?

#57 IHCTD9 on 04.02.22 at 4:36 pm

#18 Quintilian on 04.02.22 at 1:02 pm

And must I, again, remind the curmudgeons, Trudeau did not cause the housing bubble!
——

I love it when Trudeau boot lickers turn into apologists.

When I hear folks making excuses for loony hard-left pseudo PM’s like Trudeau, my thoughts usually drift towards planning an expansion on the garage. I know bad fiscal policy when I see it, and how it tends to inflate my bank account.

I mean, I barely got enough room for the quads and dozers I bought with Trudeau bucks as it is. If the kids keep electing him, ima have a major storage problem here real soon.

I’m thinking 3-7 more years of Trudeau would result in a major garage floor space problem. I’m definitely gonna spring for the new Griz 1000 twin if it happens, but the R-MAX 1000 is also on the Trudeau-bucks menu. They take twice as much room as a quad. Then there’s the Salmon boat I’ve been thinking about – that’d be a good 160 sf just by itself. What am I supposed to do here!?

Hey Quint, what do you suggest? I’m hoping our new LNDP government really does napalm the housing market, but if not, there’s no way I won’t be strolling down to the local YAMAHA dealer for a look-see. Where am I supposed to store all this expensive stuff? Help!

#58 The Original Jake on 04.02.22 at 4:42 pm

Simple message, take responsibility for your own actions and stop blaming others. Can’t agree more. This statement extends beyond finance as well.

#59 crowdedelevatorfartz on 04.02.22 at 4:47 pm

@#46 Ponzies Protruding Profligate Pumpkin.
“Yesterday’s post as about fools.
Today’s is about whiners and losers.
Covers about 89% of the steerage section.”

+++

Truth be known.
If we exclude you from the 89% the ratio drops to 9%.
Yes, because your head IS that large.
:0

#60 cuke and tomato picker on 04.02.22 at 4:52 pm

EXCELLENT YOU MENTIONED THAT JUSTIN TRUDEAU GOT ELECTED FIVE TIMES TWO AS MP AND THREE AS
PRIME MINISTER. NOW WHAT HAVE HIS CRITICS
BEEN ELECTED FOR AND ESPECIALLY THE PEOPLE FROM ONE PROVINCE WHICH SHALL REMAIN NAMELESS .

#61 Concerned Citizen on 04.02.22 at 5:14 pm

Canadian GDP per capita has essentially been flat for the last 10 years. Meanwhile the cost of living, especially for housing, has absolutely soared.

The central bankers have conspired to bail out the asset markets/asset holders time and again, while the middle and working classes keep getting the shaft.

And then Bay Streeters have the nerve to tell us everything is great and to quit our whining. Yes, when policymakers continually bail you out – moral hazard on steroids – things must be pretty great.

#62 cuke and tomato picker on 04.02.22 at 5:25 pm

Number 38 Peter from Calgary do not ask Justin Trudeau
to resign just run against him in the next election and you will be Prime Minister and fix everything.

#63 Reality Check on 04.02.22 at 5:31 pm

Midnight’s on 04.02.22 at 2:29 pm
Comparing Trudeau to Trump, lol. Can’t be done, sir.
—————————

The economic performance of the US has nothing to do with the policy initiatives of a one term president. Economic performance has everything to do with how the world economy is doing.

As for policy measure a president may introduce – they will have little effect in the near term (1-5 years) – the economy is just to big and complicated to adjust that quickly.

The Canadian government has even less of an ability to sway the economy in the short term. That is part of the reason why Canada still has such a robust economy even though the Liberals are doing everything they can to destroy it.

#64 IHCTD9 on 04.02.22 at 5:37 pm

#26 Earlybird on 04.02.22

Libs may not be perfect….but at least they try to trailblaze….time to move into a smarter future…
———-

Speaking of blazing trails, when I think of more Trudeau in power, I think of this thing located in my over-stuffed garage:

https://www.youtube.com/watch?v=9ydyNnwNBl8

Paid for by you! :) Smart future for me, that’s for sure :D

#65 Quintilian on 04.02.22 at 5:40 pm

57 IHCTD9 on 04.02.22 at 4:36 pm
“Hey Quint, what do you suggest? I’m hoping our new LNDP government really does napalm the housing market, but if not, there’s no way I won’t be strolling down to the local YAMAHA dealer for a look-see. Where am I supposed to store all this expensive stuff?

Help!”

Sure’ always willing to help. But I think you have more than a storage problem.

I’m not big on stuff that depreciates, so the occasional time I want to play with a machine, I just rent.

No the LNDP won’t napalm the housing market. It is a well-oiled political machine that is not cruising for a bruising.

They have nothing to gain to be seen as bubble poppers, so they will let the market do what it does, once it reaches this level of madness.

But you should know that: “Markets can stay irrational longer than you can stay solvent.”

This is why bubbles develop, and people believe that it is different this time.

Don’t spend foolishly, the wealth stored in your property is transient.

Tick Tock, Tick Tock

#66 Philco on 04.02.22 at 5:41 pm

@#26 earlybird
“Libs may not be perfect….but at least they try to trailblaze….”

Lol
Some of the stupidest things Ive ever heard from a leader. T2
Only 2nd to Mrs K and now Will Smith gets the tje new Booby Prize.
Anyone that admires any poitlcal crew needs to give their head a shake.

And no T2 didnt create the housing bubble zirp and avoidance of recessions did. Policies enacted to spare us the pain of a downturn over the years bring on forever cheap money.
But he sure as hell didnt help anything.

#67 THE DANDADA on 04.02.22 at 5:51 pm

CAN’T WAIT for Trump to get back in office.
End all this damn “wokeness” for once and all.

Since when do men get to compete in Women’s sports and got the nerve to take the trophy.

Would have never happened under Trump.

#68 IHCTD9 on 04.02.22 at 6:02 pm

Man, if YAMAHA stuffed their 1000cc twin into the Griz, they’d own the market for years! What’s the hold up!? 100+ hp in the most reliable ATV ever built. Do it all, trail, work, and destroying CanAms, and it’ll never break!

I hope they do it, because I got Trudeau-bucks aplenty to squeeze one into my garage (after I expand it, also via Trudeau-bucks). Despite my neandercon leanings, I find myself less and less concerned about future Canada. I get outvoted even though my personal interests are harmed by my own vote. Maybe it’s time to stop being concerned, start voting lefty with everyone else, and keep on filling my garage:

https://www.youtube.com/watch?v=AciWHa-YjMM

Yo!

#69 truefacts on 04.02.22 at 6:02 pm

“However, anyone who attributes…their financial failures, to the actions of the leaders…is a loser.” – Doug

__________________________________

A coffee shop run by immigrants near my house went bankrupt after continuous lockdowns from Doug Ford. They tried curbside pickup – didn’t work for them.

Ford campaigned on “Open for Business” last election but killed businesses like these. He will lock us all down again after the election, imo.

Are these people losers or is Doug Ford to blame?
I blame FORD!

Maybe you should blame a global pandemic. – Garth

#70 Sail Away on 04.02.22 at 6:13 pm

Cool experience this morning running the dogs at extension: they got in a heck of an uproar with barking, yowling, and… squalling? A cougar in the tree and a young deer not completely dead but well on the way. Only the second cougar I’ve seen over many many hours in the bush. We backed away and left it to its meal. 40 meters off Hot Tamale ridge for those who know the area. Almost visible from the trail.

#71 Flop… on 04.02.22 at 6:19 pm

Yeah, quit yah moaning yah North American bums.

Things could be worse.

Let’s have a look where Canada and the U.S comes in this years lists of most expensive countries to live in.

Well, they both make the top 30, Canada comes in at 25, The Metrosexual Messiah is chipping away on the Ottawa Mount to push us closer to number one.

U.S is listed at Number 27, probably have Walmart and Mexico to blame for not being more expensive.

Biden would have more success at Wordle if he didn’t always start with the word Trump.

Australia is ranked number 13, I can’t even afford to call long distance anymore, that and the fact I don’t talk to anyone who wants to take a dump on me all the time.

Switzerland is listed at number 2 and was a place I always planned on visiting but 15 buck beers always made me head for some place warmer and less expensive, probably circled that country more the Putin has circled Ukraine.

Anyway, remember these days, it is a once in a lifetime event.

Not talking about war or a pandemic, talking about Canada’s qualification for The World Cup…

M47BC

https://www.loveproperty.com/gallerylist/55203/the-worlds-most-expensive-countries-to-live-in-2022

#72 IHCTD9 on 04.02.22 at 6:20 pm

#65 Quintilian on 04.02.22 at 5:40 pm
57 IHCTD9 on 04.02.22 at 4:36 pm
“Hey Quint, what do you suggest? I’m hoping our new LNDP government really does napalm the housing market, but if not, there’s no way I won’t be strolling down to the local YAMAHA dealer for a look-see. Where am I supposed to store all this expensive stuff?

Help!”

——-

Sure’ always willing to help. But I think you have more than a storage problem.

I’m not big on stuff that depreciates, so the occasional time I want to play with a machine, I just rent.

No the LNDP won’t napalm the housing market. It is a well-oiled political machine that is not cruising for a bruising.

They have nothing to gain to be seen as bubble poppers, so they will let the market do what it does, once it reaches this level of madness.

But you should know that: “Markets can stay irrational longer than you can stay solvent.”

This is why bubbles develop, and people believe that it is different this time.

Don’t spend foolishly, the wealth stored in your property is transient.

Tick Tock, Tick Tock
———

In Trudeau’s Canada, things that normally depreciate, don’t. My Grizzly 700 SE is worth about 500-1K more than what I paid for it 6 years, and 5000 km ago. Crazy right?

I guess we’ll see what’s up on April 7, I don’t care either way. But I am firmly in the “I’ll believe it when I see it” camp when it comes to these Liberal promises. They got a solid history of not doing what they say they’re gonna do. So I guess we agree on that point. If Trudeau doesn’t do Jack concerning the RE market, colour me shocked, and drive me to the local GM and YAMAHA dealerships.

The cash I’m spending? It ain’t RE cash. I still need a roof, and I’m sure not selling in this market. No, my toys were paid for almost 100% by huge CCB payments that I never needed. CCB is a horror show that no one talks about. Tens of thousands, tax free, no joke. All because of Trudeau. Hopefully you have kids too, because you don’t want to miss out on this gravy train.

#73 Ponzius Pilatus on 04.02.22 at 6:31 pm

#69 truefacts on 04.02.22 at 6:02 pm
“However, anyone who attributes…their financial failures, to the actions of the leaders…is a loser.” – Doug

__________________________________

A coffee shop run by immigrants near my house went bankrupt after continuous lockdowns from Doug Ford. They tried curbside pickup – didn’t work for them.

Ford campaigned on “Open for Business” last election but killed businesses like these. He will lock us all down again after the election, imo.

Are these people losers or is Doug Ford to blame?
I blame FORD!

Maybe you should blame a global pandemic. – Garth
——————-
Food service businesses notoriously short lived.
Not losers, but maybe, just maybe in the wrong business.
Should have gone into plumbing, like CEF.
Is a double millionaire now.
And still rents. Smart guy.
I hear he’s working on a self help book:
The Wealthy Plummer.

#74 Michael Smith on 04.02.22 at 6:51 pm

Well written article that should make all readers think. It is all up to each of us. Very easy to let dislikes become a reason for personal failure.
I have always been a small c conservative and mostly frustrated by the Conservative party. Policies like fiscal responsibility, respect for law and order, personal responsibility are supported by all members that I meet who also share concern for those who genuinely need help from society.
Yet elections are lost by our incompetent leadership and our party diversions into gay marriage, abortion, etc that most people are over.
Similarly the Democrats lost to Trump in 2016 because they chose the only leader he could beat.
We must do better.

#75 Dustin Behnka on 04.02.22 at 7:09 pm

“I quickly realized that there was zero money to be made in either specialty. I certainly didn’t blame Jean Chretien for my predicament. I instead re-educated myself and went into finance.”
Reminds me of Neil Patrick Harris’ character in the T.V show “How I met your mother” after his GF dumps him for the NY stock broker.

#76 Ed on 04.02.22 at 7:32 pm

Dont blame the leaders…blame the idiots that voted for these two fruitcakes.

#77 Midnight’s on 04.02.22 at 7:36 pm

PeterfromCalgary on 04.02.22 at 2:46 pm

That was good! Lol…

#78 Amber on 04.02.22 at 7:37 pm

Trump is a businessman, but tell that last paragraph to the oil companies who cant get that pipeline ready because of Trudeau policies.

What about the conflict of interest where at least 50% of Liberal MPs own rental property or have a real estate investment portfolio?

#79 George S on 04.02.22 at 7:44 pm

#3 T2 or Bust on 04.01.22 at 4:21 pm wrote:
some stuff about how Corn Ethanol was the solution to all climate change problems.
—————-

You should look up EROEI of Corn Ethanol and learn what it means.
What you will find is that Corn Ethanol requires so much fossil fuel energy to produce that it sometimes doesn’t even break even. What that means is that you are basically burning fossil fuel energy in your Ethanol powered stuff, just like using an Electric Vehicle powered with coal generated electricity.

Some other types of Ethanol are marginally better but still require the use of prime agricultural land that could be used to grow food crops instead.

#80 Well Travelled on 04.02.22 at 7:58 pm

Love your columns Doug but in this case you are clearly showing your Ontario bias. The oil and gas industry has literally been destroyed by Trudeau and his policies to the financial detriment of all Canadians. The loss of jobs, reduction in GDP and greater energy insecurity for our country all lie at Trudeau’s doorstep.

Doug is not in Ontario. – Garth

#81 IHCTD9 on 04.02.22 at 8:04 pm

The net is good, and the net is bad. Here, the net links boomers to Gen Z. Not everyone will understand, but if you are Gen X with Gen Z kids, you’ll likely get it:

https://www.youtube.com/watch?v=1vrEljMfXYo

#82 Doug Rowat on 04.02.22 at 8:15 pm

#48 Catalyst on 04.02.22 at 3:33 pm
much elitism – equating stock market returns with financial wellness. Remember the V shaped recovery, main street in shambles, wallstreet back to normal in 3 months. Who cares as long as the financial markets are manipulated back up right?

GDP per capita growth is one of the worst in the OECD nations under trudeau. Quality of life has deteriorated meaningfully with housing affordability at 31 year lows in affordability and ICU beds per capita near the worst in the world at 1.7/1000.

Outside of cews handouts, which were great for business and terrible for taxpayers, I can’t thing of one thing he’s done right for business.

Anything we accomplish, we do despite of Trudeau, not because of him.

—-

Sounds awful. Do you think the elitist Bay Streeters voted Liberal?

—Doug

#83 DON on 04.02.22 at 8:22 pm

#81 IHCTD9 on 04.02.22 at 8:04 pm
The net is good, and the net is bad. Here, the net links boomers to Gen Z. Not everyone will understand, but if you are Gen X with Gen Z kids, you’ll likely get it:

https://www.youtube.com/watch?v=1vrEljMfXYo

************
Yup…and I told them what I thought off the song as a kid hearing it over and over again. On a drive this morning. oh the memories!

#84 IHCTD9 on 04.02.22 at 8:26 pm

These Canucks think that in hell the’ll be in good company. Great vid, familiar background, seems on point:

https://www.youtube.com/watch?v=B9FzVhw8_bY

#85 Flop… on 04.02.22 at 8:26 pm

“Interactive Map: Crude Oil Pipelines and Refineries of the U.S. and Canada”

Not sure how interactive this map truly is.

I was going bezerk, drawing pipelines all over the place, and a message on my government sponsored and supervised iPad kept popping up.

We would like you to stop doing that…

M47BC

https://www.visualcapitalist.com/interactive-map-crude-oil-pipelines-and-refineries-of-the-u-s-and-canada/

#86 Shawn on 04.02.22 at 8:33 pm

MP Conflict of Interest?

#78 Amber on 04.02.22 at 7:37 pm

What about the conflict of interest where at least 50% of Liberal MPs own rental property or have a real estate investment portfolio?

*************************
Oh My god, what’s next? Do MPs have a conflict of interest because they are Canadians and parliament sets laws that affect Canadians.

A winner does not sit around thinking about little conflicts of interest like this. “I’m not saying… I’m just saying…

#87 Ponzius Pilatus on 04.02.22 at 8:37 pm

71 Flop… on 04.02.22 at 6:19 pm
Yeah, quit yah moaning yah North American bums.

Things could be worse.

Let’s have a look where Canada and the U.S comes in this years lists of most expensive countries to live in.
——————
Oh, Flop
You just made my bleeding heart bleed even more.
Bermuda, Bahamas and Barbados are in the top ten most expensive countries to live.
Bermuda is number #1.
If it’s correct, than I can only shake my head.
I gather they are among the lowest on the wages earned scale.
Lowest wages, highest cost of living results in crushing poverty.
And all this in the playgrounds of Western and Eastern Oligarchs.
That proves that you can’t eat sunshine.
Go, kiss your Canadian flag
And remember this, when you visit these places.

#88 DON on 04.02.22 at 8:43 pm

#60 cuke and tomato picker on 04.02.22 at 4:52 pm
EXCELLENT YOU MENTIONED THAT JUSTIN TRUDEAU GOT ELECTED FIVE TIMES TWO AS MP AND THREE AS
PRIME MINISTER. NOW WHAT HAVE HIS CRITICS
BEEN ELECTED FOR AND ESPECIALLY THE PEOPLE FROM ONE PROVINCE WHICH SHALL REMAIN NAMELESS .

**************
WE KNOW! MOVE YOUR FINGER AWAY from the ALLCAPs button.

#89 DON on 04.02.22 at 8:50 pm

#70 Sail Away on 04.02.22 at 6:13 pm
Cool experience this morning running the dogs at extension: they got in a heck of an uproar with barking, yowling, and… squalling? A cougar in the tree and a young deer not completely dead but well on the way. Only the second cougar I’ve seen over many many hours in the bush. We backed away and left it to its meal. 40 meters off Hot Tamale ridge for those who know the area. Almost visible from the trail.

*********

3 dogs attacked near Sooke on three seperate incidents on rural acreages. All bigger dogs, two dogs survived. In the news today. Careful out there.

#90 Sail Away on 04.02.22 at 8:59 pm

Good post, Doug, thanks.

I agree that trying to blame either of these two for investment non-success is weak sauce. For our investment portfolio, Trudeau and Canada are almost irrelevant except for RE, which has exploded. In the US, Trump’s reign of turmoil yielded excellent returns, culminating in the Covid-induced -40% magnificent Shangri La for dip-buyers.

So, excellent US markets + excellent Canada RE over the last many years created an environment that helped the Sail Away family to full financial independence. Of course, Elon Musk was a far bigger direct benefactor.

I’m thankful to both from a financial standpoint, but don’t like either.

#91 Flop… on 04.02.22 at 9:01 pm

#87 Ponzius Pilatus on 04.02.22 at 8:37 pm

Oh, Flop
You just made my bleeding heart bleed even more.

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

Yeah, I have that effect on people.

You should see Uncle Crowdie when I remind him he voted for Justin Trudeau and lives in the same city as Jagmeet Singh.

Daggers…

M47BC

#92 Robert Ash on 04.02.22 at 9:14 pm

It is great to get a reminder that we should all take responsibility for our actions. So why not be responsible and help someone, with a Hand Up… If 63% of Canadians, are Home owners, then pick up the phone and call the Bissell Center in Edmonton, or the Mustard Seed, in Kamloops, and hire a Day Laborer to help with some of those around the house, jobs, we keep putting off…. It will be a great way to do something, for your community, and may end up changing your attitude a little as well… A simple step most can manage… Love the John Denver song… nice thoughts with another reminder of the simple things, in life… Cheers!!

#93 DON on 04.02.22 at 9:18 pm

#80 Well Travelled on 04.02.22 at 7:58 pm
Love your columns Doug but in this case you are clearly showing your Ontario bias. The oil and gas industry has literally been destroyed by Trudeau and his policies to the financial detriment of all Canadians. The loss of jobs, reduction in GDP and greater energy insecurity for our country all lie at Trudeau’s doorstep.

Doug is not in Ontario. – Garth

**********

Well travelled just not well thought out smart ass.

Doug’s driving around BC listening to John Denver’s…West Virgina…Blueridge Mountains…or better yet…

Clowns to the left of me!
Jokers to the right!
Here I am stuck in the middle with you.

#94 Kevin on 04.02.22 at 9:20 pm

Doug spitting too much truth in this post. Great job, Doug, appreciate the work you, Garth, and the rest of the team does.

#95 IHCTD9 on 04.02.22 at 9:39 pm

Summer is soon to be here dogs, don’t lie about it :)

https://www.youtube.com/watch?v=hEwnd1wbE-M

#96 Dr V on 04.02.22 at 9:42 pm

Per capita income for Canada 2020 about $47k.

Total budget deficit about $350B, or about $10k for each and every Canadian. This would include CERB and other
benefits.

I got zero. Wife got 2 CERB payments. My 2 sons got nothing working in grocery. DIL got nothing. My personal corp got nothing, nor did my former company.

Well I guess I could count money received for some utilities on Reserves, but not sure if they were budgeted
for before the deficit.

So I figure my family and I are waaay short.

Who has my share?

#97 Reality is stark on 04.02.22 at 9:43 pm

It may seem as though it doesn’t matter who is at the top running things you should be able to prosper regardless.
I know an old oil engineer from Venezuela who raved about the prosperity emerging there 40 years ago.
Socialist policies are insidious.
Eventually you can’t get anywhere no matter how hard you work.
Last time commodity prices were this high our buck equalled 1 USD.
But something is happening here, what it is ain’t exactly clear but we have a mountain of debt with higher interest rates looming and a housing market about to reverse.
I’m doing better than ever but I never lose sight of the fact that success is fragile and very dependent on sound leadership.
Trump was a blowhard and Trudeau can’t stop spending other people’s money.
Replace those two names with Ronald Reagan and Paul Martin and now you are going somewhere.

#98 Disgusted on 04.02.22 at 9:52 pm

The cash I’m spending? It ain’t RE cash. I still need a roof, and I’m sure not selling in this market. No, my toys were paid for almost 100% by huge CCB payments that I never needed. CCB is a horror show that no one talks about. Tens of thousands, tax free, no joke. All because of Trudeau. Hopefully you have kids too, because you don’t want to miss out on this gravy train.

It’s [email protected]#$F&*k people like you why I will never immigrate back to Canada.Feel proud to rip off what
truly you don’t deserve from the coffers of less fortunate
persons.My daughter is battling cancer and going through horrific chemo treatments all while awaiting EI payments
that should have arrived months ago.So go ahead and
j#&K off on your toys with a clear conscience.

#99 Satori on 04.02.22 at 9:56 pm

#42 dragonfly58 on 04.02.22 at 3:16 pm

Ah, I get the elderly parents thing. Feel for ya, and well as long as you don’t live in Vancouver, Nanaimo or Victoria, it can’t be so bad.

I just moved this weekend to West Kelowna, it is definitely NOT cheaper but there is no rain and streets aren’t full of homeless people … yet.

I read Henry David Thoreau when I was a kid….
“The man who goes alone can start today; but he who travels with another must wait till that other is ready”.

Make the best of it, I think your doing pretty good. Why worry about moving? ;)

#100 Satori on 04.02.22 at 10:05 pm

#92 Robert Ash on 04.02.22 at 9:14 pm
It is great to get a reminder that we should all take responsibility for our actions. So why not be responsible and help someone, with a Hand Up… If 63% of Canadians, are Home owners, then pick up the phone and call the Bissell Center in Edmonton, or the Mustard Seed, in Kamloops, and hire a Day Laborer to help with some of those around the house, jobs, we keep putting off.
————————————-
Love this comment Robert! Bravo!

If anyone is in Kelowna – Freedom’s Door is the place to call.

And re-quoting Robert: “It will be a great way to do something, for your community, and may end up changing your attitude a little as well” – so very true!

#101 Westcdn on 04.02.22 at 10:45 pm

Who pissed into your wheat puffs which I liked as a kid? I agree strongly with you wrote. I may not be the biggest and strongest but I am no pipsqeek and I think I am fast. So bring it on.

I will cover your back if you want. I would kill the mice and spiders that frightened my mother. On a kinder note, I would do what she asked me which seemed to involve cooking. Actually, as a father I did, my gals ask how I was a good cook.

Well, because your mother was not.

#102 Sail Away on 04.02.22 at 10:52 pm

Re: IH benefits

#98 Disgusted on 04.02.22 at 9:52 pm

It’s [email protected]#$F&*k people like you why I will never immigrate back to Canada.Feel proud to rip off what truly you don’t deserve from the coffers of less fortunate persons.My daughter is battling cancer and going through horrific chemo treatments all while awaiting EI payments that should have arrived months ago.So go ahead and j#&K off on your toys with a clear conscience.

———-

Sorry about your daughter. However, it’s not IH’s fault, nor should his actions have the slightest impact on her EI payments.

Your anger is misdirected.

#103 Ponzius Pilatus on 04.02.22 at 10:53 pm

#97 Reality is stark on 04.02.22 at 9:43 pm
It may seem as though it doesn’t matter who is at the top running things you should be able to prosper regardless.
I know an old oil engineer from Venezuela who raved about the prosperity emerging there 40 years ago.
Socialist policies are insidious.
Eventually you can’t get anywhere no matter how hard you work.
—————————
Some people can’t even go one day without whining.
“The old engineer from Venezuela”?
Sailo is so old?

#104 dragonfly58 on 04.02.22 at 10:55 pm

Hi Satori. The comments were just my take on why Doug’s seemingly simple strategy for financial success can in some cases be very difficult to achieve.
Yes we are by some definitions doing pretty good. A paid for house , such as it is. And no debt, just a very modest income from this point forward. But all of this happened because we were both very risk adverse and very careful to live within our income.
One of the cornerstones of Doug’s piece today seems to be to take risks. Not every risk ends up a winner , and we never had enough of a margin to both take risks and live a financially responsible life.
In essence Doug is saying people like my wife and I can never be ” successful “. Kind of depressing really that we live in a world where a good education , a decent career and careful living just ends up as a fizzle rather than a ” success “.

#105 Diharv on 04.02.22 at 11:34 pm

Well said Mr Rowat. And turning off CNN, MSNBC, FOX News and CBC News would also go a long way.

#106 Nonplused on 04.03.22 at 12:14 am

Whew, Doug’s on fire today. Speaks the truth, he does.

Here is an old quote I came across again recently, which reminded me of the coverage of the Ukraine crisis (both sides) but applies equally to all politics:

“We know they are lying, they know they are lying, they know we know they are lying, we know they know we know they are lying, but they are still lying.” – Aleksandr Solzhenitsyn

And that, folks, is as it ever was.

#107 Satori on 04.03.22 at 12:38 am

#104 dragonfly58 on 04.02.22 at 10:55 pm

Ah but not everything is about money, you are taking care of elderly folks, giving them a hand. Living within your means, financially responsible, and really, a truly rich man knows when he has enough.

You and your wife are successful in my view. Good people, good life, helping others. Can’t do much better than that…

I went out with people, good food, good wine but the conversation was all BS, egocentric, show-off talk. Then when the time for payment came – and all of a sudden everyone’s arms were too short to reach their fat wallets.

I’ve had other times where I ate what was left over from yesterday, we’d share a tall boy and the conversation is real, genuine, and honest… I never leave that kind of table feeling hungry. Those kind of times make you wonder, just how satisfying is it to focus on one aspect of life.

I think the real challenge in life is to be satisfied with what you have. Of course we all need money, but for a good life, just a bit of appreciation and gratitude, sprinkled in.

#108 WTF on 04.03.22 at 2:57 am

What’s your level of concern? Limited to this complaining post, or have you campaigned heavily for your local Conservative Party delegate the past 3 elections?

It’s for the kids, right?

—Doug
_____________
“Campaign heavily” isn’t that what people who actually run for office do?

I proudly exercise my rights and fulfill my obligation as a citizen by voting, pay attention to party platforms , donate $ and voice my opinion . Vote in Every election at every level.as I have done for 40 plus years. And yes, regarding ” the kids” I remain concerned for future generations and the ramifications of growing debt/deficit loads.

I suppose, based on your arbitrary criteria, my actions don’t meet your standards. I’m ok with that.

#109 under the radar on 04.03.22 at 5:33 am

#102 Very true. But, multiple posts about toys he bought with money he did not need that he got from a government he dislikes, is a little nauseating. Almost like repeatedly boasting about how rich one is. Uncle Warren is humble.

#110 Ponzius Pilatus on 04.03.22 at 8:49 am

106 Nonplused on 04.03.22 at 12:14 am
Whew, Doug’s on fire today. Speaks the truth, he does.

Here is an old quote I came across again recently, which reminded me of the coverage of the Ukraine crisis (both sides) but applies equally to all politics:

“We know they are lying, they know they are lying, they know we know they are lying, we know they know we know they are lying, but they are still lying.” – Aleksandr Solzhenitsyn

And that, folks, is as it ever was.
———————————
Good stuff.
But it’s so easy to lie to us.
“All lies and jest.
Still a man hears what he wants to hear.
And disregards the rest”

#111 Observer on 04.03.22 at 9:07 am

#107 Satori

Wise words.

#112 crowdedelevatorfartz on 04.03.22 at 9:59 am

@#91 Flop
“You should see Uncle Crowdie when I remind him he voted for Justin Trudeau and lives in the same city as Jagmeet Singh.

+++

Yep.
My nephew Floppie has a long memory.
A dangerous weapon in the hands of the
Trudeau’s first election for PM
A moment of weakness.
Couldnt stand Harper’s arrogance.
Never happen again.
But apparently a lot of voters felt the same way.

As for Jaggy Singh.
He represents all that is wrong in the political system today.
His safe NDP “seat” was essentially given to him by Kennedy Stewart half way through his mandate to run in a by-election. because Kennedy decided Burnaby just wasnt big enough for his political ambitions…

Kennedy Stewart, who is now the Mayor of Vancouver.
(A dismal failure in the eyes of many Vancouver taxpayers, business people and victims of crime.)
had nothing to lose.

If he lost the mayors seat ( which he may very well lose in this Nov’s election) he will have a plum NDP appointment waiting in the wings.

With Trudeau in Singh’s back pocket I wouldn’t be surprised if “Senator” Larry can kick back on his MP’s pension, his senate salary and his ex Mayors stipend to …write another book.

Possibly titled ” How the Little People made it Happen”

As Singh and Trudeau play “house” and toss further billions of tax dollars into the bonfire of their vanities.

#113 IHCTD9 on 04.03.22 at 10:15 am

#98 Disgusted on 04.02.22 at 9:52 pm

It’s [email protected]#$F&*k people like you why I will never immigrate back to Canada.Feel proud to rip off what
truly you don’t deserve from the coffers of less fortunate
persons.My daughter is battling cancer and going through horrific chemo treatments all while awaiting EI payments
that should have arrived months ago.So go ahead and
j#&K off on your toys with a clear conscience
————

Just a thought, but maybe you should be directing your rage towards the guy who pounded all this cash into my bank account? I never asked for it. Never voted for it. It just started showing up in my bank account shortly after Trudeau was elected. All I ever did was spend it.

I wish for your daughter to achieve a glorious victory in her battle with cancer.

#114 The other Doug in London on 04.03.22 at 10:44 am

Wow, well said and 100% accurate. It’s consistent with my observations. It reminds me of the saying that when opportunity knocks a lot of people complain about the noise. Another saying it reminds me of is: the secret to success is hard work. That’s why it’s remained a secret for so long. I think that’s why populists get elected in the first place, by people who don’t take advantage of opportunities and make bad choices in life. They figure that someone like Donald Trump will right the wrongs that caused their failure in the first place. Say, could I sell you some premium priced shares of Nortel Networks, Enron, or Eastman Kodak?

#115 crowdedelevatorfartz on 04.03.22 at 10:49 am

@#106 Nonplused
“reminded me of the coverage of the Ukraine crisis (both sides) but applies equally to all politics:”

+++
I agree the coverage has been biased on both sides.
The Ukrainians as the poor underdogs against the big Russian bully.
Plays well when trying to sell fishwrapper.
It’s been an unusually “clean” fight.
There have been a few stories of civilian atrocities and mass graves ( unlike the 100 year old unmarked burial sites we Canadians self flagellate about) but I suppose after this latest war is over ( Putin is dead or in irons) and people can speak freely….the truth will come out.

But then, as the Russian troops pulled out and reporters move in we get this…

https://www.reuters.com/world/europe/ukraine-claims-control-over-kyiv-region-russia-looks-east-2022-04-03/

It was only a matter of time.
Young Russian soldiers weren’t getting the job done.
So.
When Russia hired thousands of Chechen and Syrian mercenaries a few weeks ago to get in and fight the nasty, brutal, vicious urban warfare that they have been doing in their countries for at least a decade….

You knew the horrifying truth would be revealed.

#116 Dharma Bum on 04.03.22 at 10:50 am

Good post Douglas.

I found it to be very Jordan Petersonesque.

So, by default, it was bang on. I like it. I LIKE IT!

Jordan Peterson is one of the greatest truth tellers of our time. That’s perhaps why he is hated so much. That’s perhaps why this post will send so many snowflakes into a quiet corner to sulk and lick their wounds.

Our sorry society has evolved into a pathetic culture of blaming others for their woes. It’s always someone else’s fault.

When, every once in a while, someone stands up to the nonsense (like Peterson always does, and as you have done here), the SJWs, wokesters, snowflakes, dippers, moisters, safespaceseekers, treehuggers, lefties, pinkos, blamers, haters, takers, and losers get all freaked out.

The lesson is simple. Clean up your own mess and get your own house in order before trying to fix the world and blaming everyone but yourself for your problems.

Learn it.

#117 IHCTD9 on 04.03.22 at 10:54 am

#109 under the radar on 04.03.22 at 5:33 am
#102 Very true. But, multiple posts about toys he bought with money he did not need that he got from a government he dislikes, is a little nauseating. Almost like repeatedly boasting about how rich one is. Uncle Warren is humble.
————

I’m not rich on this blog, not by a long shot. Old house, old truck, I don’t even own a cellphone. Owning a couple quads and some yellow iron ain’t exactly the epitome of wealth in most peoples eyes.

Sometimes the Trudeau/social program partisans need to hear real life stories about how these expenditures are not all good all the time.

For a while when our kids were younger, a bro and I were keeping track of tax returns and CCB income since Trudeau was elected. IIRC, when we quit counting, the total between us was sneaking up on a quarter million dollars. This delivered to two 6 figure income households with paid for houses, zero debt, and a decent investment piles. Trudeau even allows us to knock down our net income via RRSP deposits to get even more CCB, which is straight up just insane.

On top of that, our house appreciation combined since Trudeau came to power is north of three quarter million. This is directly attributable to Trudeau standing there doing nothing while housing prices went parabolic.

You know what else I don’t need? Free dental and drugs. Sure as heck I’ll qualify for them though. There is definitely something wrong with the means testing of Trudeau’s programs, and there’s gotta be pile of folks who don’t need any of this stuff who have been just freaking raking it in.

Is this really what you “progressive” lefty’s want?

#118 Stone on 04.03.22 at 11:03 am

#104 dragonfly58 on 04.02.22 at 10:55 pm
Hi Satori. The comments were just my take on why Doug’s seemingly simple strategy for financial success can in some cases be very difficult to achieve.
Yes we are by some definitions doing pretty good. A paid for house , such as it is. And no debt, just a very modest income from this point forward. But all of this happened because we were both very risk adverse and very careful to live within our income.
One of the cornerstones of Doug’s piece today seems to be to take risks. Not every risk ends up a winner , and we never had enough of a margin to both take risks and live a financially responsible life.
In essence Doug is saying people like my wife and I can never be ” successful “. Kind of depressing really that we live in a world where a good education , a decent career and careful living just ends up as a fizzle rather than a ” success “.

———

I see this often and thought I’d ask the question:

Why do people say they are risk “adverse”?

It’s actually risk “averse”.

Don’t take my word for it. Google it. It’s even in Investopedia. I just find it strange. It’s like people use words but don’t actually understand what they actually mean.

#119 Pattie Weatherill on 04.03.22 at 11:55 am

Love this!

#120 dragonfly58 on 04.03.22 at 12:00 pm

Thanks for the correction Stone. I must admit I was not aware of the difference.

#121 unbalanced on 04.03.22 at 12:06 pm

I smell B.S. The tractor guru says he didn’t ask for it. You have to apply to have gotten it. Hmmmm…..I’ll apply. Get it and screw everyone else. Nice

#122 Doug Rowat on 04.03.22 at 12:11 pm

#108 WTF on 04.03.22 at 2:57 am

I proudly exercise my rights…

—-

Who cares? That’s exactly what every Canadian does and 3 times they’ve picked Trudeau. Your comments say nothing (like zero) about the failure of the Conservative Party, which is the point of my blog.

—Doug

#123 Sean on 04.03.22 at 12:17 pm

I don’t know Doug. This post lacks humility. These are all fair points but you seem to ignore people who don’t have the relative luxury of focusing on their financial growth and are instead focused on living, paying rent and raising a family on a lower income. Seems uncharacteristic of your typical posts which are less angry, more sober and human. If anyone who’s struggling with getting their financial feet wet is finding this as their first post of the blog, I bet they don’t find another. This blog usually toes the line between education and jabs, making it entertaining, this instalment has the sound of wealthy echo-chamber.

Call me a whiner, but I think there is a graceful way to get this message across. For some reason, doing so feels important in this day and age.

#124 crowdedelevatorfartz on 04.03.22 at 12:30 pm

@#117 IHCTD9
“Is this really what you “progressive” lefty’s want?”

+++
Yes.
Until the tax bill has to be paid….by someone else.

#125 Quintilian on 04.03.22 at 12:51 pm

Some of the comments by right-wing aficionados here prove that not only do they not have a heart, but lack a brain as well.

Crowdie neglects to acknowledge that in his neck of the woods the left were not elected, but that the right became so corrupt even the hillbillies could not be fooled again.

And then there is IHCTD9 who is on a mission to prove that human beings, at least some human beings, are incapable of sound logic.

He believes Trudeau caused a multinational housing bubble that in itself is farcical.

But the real breach of logic is when he spews in a tirade how much he hates Trudeau’s policies that have increased his net worth substantially.

Doe not compute.

#126 TurnerNation on 04.03.22 at 12:54 pm

Dear Diary. Last night I met a real multi millionaire!
The company I keep. By what acumen did they achieve this great store of wealth?
Oh they bought at SFH, 15 years ago in a now popular leafy burg near a subway station.
This surely will become a business case in the top business schools worldwide!
Step one: just buya da house.
Case closed.

#127 DON on 04.03.22 at 12:55 pm

Prediction in the distant or not too distant future.

Uncle Crowded and Uncle Ponzie become the next version of The Odd Couple.

#128 IHCTD9 on 04.03.22 at 1:38 pm

#121 unbalanced on 04.03.22 at 12:06 pm
I smell B.S. The tractor guru says he didn’t ask for it. You have to apply to have gotten it. Hmmmm…..I’ll apply. Get it and screw everyone else. Nice
—- —

We had kids before Trudeau was elected, and were in receipt of the old UCCB taxable benefit already. When 2016 came along, so did piles of Trudeau-bucks in the form of the tax free, based on net income, Trudeau CCB program.

I didn’t have to lift a finger.

But you’re right. If I was eligible and had to fill out a form or two to receive 10’s of thousands of free dollars, you can be damn sure I would have :)

Good policy, means testing, and governance could easily have avoided this.

#129 IHCTD9 on 04.03.22 at 1:53 pm

#125 Quintilian on 04.03.22 at 12:51 pm

And then there is IHCTD9 who is on a mission to prove that human beings, at least some human beings, are incapable of sound logic.

He believes Trudeau caused a multinational housing bubble that in itself is farcical.

But the real breach of logic is when he spews in a tirade how much he hates Trudeau’s policies that have increased his net worth substantially.

Doe not compute.
———

I don’t blame T2 for causing the bubble, I blame him for first stoking it, and then doing nothing to tame it while prices went berserk.

Logic is a tricky thing. It’s totally possible for me to hate Trudeau’s policies, even while fully understanding how much I have been enriched by same. The key understanding is of what value I put on excess wealth beyond what I need to get by. The answer is not a lot.

I don’t need all these handouts, don’t care how much my house is worth, have no desire to live a baller lifestyle. I do care about the future of Canada. I care more about the destruction of Canada under Trudeau than the wealth his policies have pumped into my net worth.

I’m damn sure not the only one in these shoes either.

#130 Sail Away on 04.03.22 at 1:55 pm

#121 unbalanced on 04.03.22 at 12:06 pm

I smell B.S. The tractor guru says he didn’t ask for it. You have to apply to have gotten it. Hmmmm…..I’ll apply. Get it and screw everyone else. Nice

——-

Everybody should always take everything they are eligible to receive. When the tables are flipped, CRA most definitely does the same.

For example, the Sail Aways this year more than paid Justin’s salary from capital gains taxes on US investments.

Always accept your due.

#131 unbalanced on 04.03.22 at 1:59 pm

you also applied for CERB. Nice

#132 Mark Rypen on 04.03.22 at 2:03 pm

This isn’t a political blog, so I’m not sure what the point of this article was.

As to the “focus on what you can control” snippet at the end, I would suggest that there is merit in having a government that doesn’t spend a decade creating a victim culture, pitting races, classes, and people of all walks of life against each other in the name of diversity, and does not erode the fabric of Canada.

People have a right to be upset about this, and have a right to be worried about the long term implications. These are real world issues, that over the long run, destroy countries

As is so often said in business, Culture eats strategy for breakfast. How is this any different for a nation?

We’ve allowed a Narcissist to convince Canadians that Canada is country of institutional racism, an irrecoverable stain in terms of indigenous relations, and that recognizing one of the many new genders is an absolute necessity. People NOT focusing on the divisions being created in our country is precisley what has allowed them to be created.

When I was a kid, the Liberal Party of Canada used to run ads on TV that literally reminded Canadians that we had the best country on earth according to the UN.

We now have a government that seeks to infantilize people, pit them against one another, and convince them their country is awful.

Some things are more important than generating an 8% return Doug.

Let’s see what happens when Garth hangs the Canadian flag on Canada day this year.

#133 crowdedelevatorfartz on 04.03.22 at 2:13 pm

@#122 Doug
“That’s exactly what every Canadian does and 3 times they’ve picked Trudeau.”

+++

So my numerous financial contributions and votes to the Conservative Party mean nothing because I don’t “Campaign heavily” for the Conservatives?

Just a thought but….perhaps they should pick electable leaders? from the start?

#134 Love_The_Cottage on 04.03.22 at 2:16 pm

Shocking to hear people who when told to take personal responsibility and stop blaming politicians, do the exact opposite. I guess there are a lot of houses without mirrors.

#135 Damifino on 04.03.22 at 2:22 pm

#126 TurnerNation

By what acumen did they achieve this great store of wealth? Oh they bought at SFH, 15 years ago in a now popular leafy burg near a subway station.
————————————–

When did they sell and make their wealth usable?

#136 WTF on 04.03.22 at 3:31 pm

Who cares? That’s exactly what every Canadian does and 3 times they’ve picked Trudeau. Your comments say nothing (like zero) about the failure of the Conservative Party, which is the point of my blog.
————————————————————-, No “every Canadian” does NOT Vote. Part of the problem.

My understanding, the main thrust and content of your commentary was personal responsibility, and adaptability in ever changing circumstances. Regardless of who is in power and their agenda. ” The Whiners”

Didn’t really focus on the sidebar: Apologies.

“rarely do I see criticism directed at our country’s Conservative Party”

I suspect like many I have expressed dissatisfaction with their current direction directly with the PC’s when they ask for another donation. Democracy at work. Simple.

Back to “whining”: Like most folks (including yourself apparently), did I had to reinvent myself several times to move forward ? Yes.
Is that unique? No.
Does the past or present political leadership have any impact on my personal financial well being and do I rely on them for my salvation? No. Never have.
Do I slag them when I disagree with the direction they have taken sometimes? Yup.

Is that “whining” ? Maybe, Maybe not, depends on your perspective I suppose

#137 Robert Ash on 04.03.22 at 10:44 pm

Our Chartered Bank and our National Bank have a Fiduciary responsibility to Depositors, of Canada. Why can’t our Leaders recognize this is paramount to the continued Trust relationship we all need. Full stop. Sadly when the non productive vote to take from the achievers, then we are in decline. Seems, the path we are destined for, with a Political system, that is Broken.

#138 Geaamtpaket on 04.03.22 at 11:56 pm

House prices doubled since Trudeau got elected due to his huge deficits which caused major asset bubbles. I’m more ticked off at Bank of Canada and Federal Reserve for quantitative easing and keeping interest rates at nearly 0.

#139 AACI Homedog on 04.04.22 at 12:02 am

Thanks, Garth…I still care, but have given up on complaining….

#140 chalkie on 04.04.22 at 6:30 pm

Easy Solution for our deficit, ask Elon Musk to bail us out, of course he goes broke, but then we order our Canadians to all buy Electric Tesla vehicles, Elon gets rich again, and we don’t owe a dime, “laugh if Like”, you do the math. $14,000 profit on a Manufacture profit Tesla. The number of motor vehicles registered in Canada increased 1.8% from 2018 to 35.7 million in 2020, imagine that, we have one vehicle on the road for every citizen in this country. Elon wont hesitate, his Mother was born in Saskatchewan and he was educated in Kingston Ont, come on and help us Elon, be a nice guy.