The seducer

Savers are getting a break. But at enormous cost. And think hard before you fall for the latest seducer – a GIC finally yielding four per cent.

The latest (official) inflation number comes Wednesday. It should clock in close to 6.5%, a leap from the previous month’s 5.7%. In real terms, prices of just about everything are rising 1% a month lately. Gas we already know about. Food’s the biggie now. The senseless European war makes everything worse.

Months ago, before the Russian tanks rolled and as we all felt giddy with Covid on the retreat, inflation looked temporary. The central bankers said so. “It’s transitory,” they told us. “Just chill.” And rates stayed low to ensure economic recovery. Mistake.

Well, it all changed. Houses. Romaine lettuce. Nat gas and diesel. Insurance premiums. Property taxes. Chips. Panel box cover plates. Netflix. Wage demands. Everything’s inflating. The Russian war made supply chain issues far deeper, threw millions out of their homes and has hurt food production. An economy on post-Covid steroids created more job openings than unemployed people, hurting productivity and goosing wage overhead. As the virus faded, consumer spending shifted to services (they account for 70% of the economy), people started going back to work travelling and emerging from their cocoons.

So we have inflation pushed by demand (spending, borrowing, cheap money, jobs) and also driven by supply (shortages, delivery disruptions, production halts, war). In conclusion: it ain’t going away. Not soon. Not for years.

Says Scotia economist Derek Holt:

“Inflation has become so rampant and widespread that companies are raising prices everywhere and in circular fashion they are reasoning that it’s because of high inflation. It’s not just driven by damaged supply chains or just hot demand, as a pile-on effect is occurring amid unmoored measures of expectations.”

Whazzit all mean?

The only real instrument the CBs have is a blunt one – the cost of money. By raising it they try to strangle demand for borrowing, slow expansion and debt and cool off economic expansion. Usually it works, but not fast. The Bank of Canada has a target inflation rate of 2% and we are running at three times that. Rates will therefore continue to rise through 2022, 2023 and into 2024 until one of two things occurs. They win. Or, there’s a recession.

In the meantime, as you know, the BoC rate doubled last week from 0.5% to 1% (the biggest jump in 22 years), and it will likely increase again on each of these dates: June 1st, July 13th, September 7th, October 26th and December 7th. By Christmas the benchmark will be at least 2.25% and possibly 3%.

The prime rate at the Big Six will thus be around 4.5% with a five-handle on longer-term mortgages. The implications for the housing market are wide-ranging and have been parsed to death in recent columns. Just remember this: if you buy in the next few months ensure it’s a long-term hold, that you don’t overreach and can live with a period of negative equity.

Now, how about savers?

Rates of return are also rising. As mentioned, Oaken (a division of Home Bank, known for subprime lending) is offering a 4% return if you lock up your funds for five years. Many one-year deals in the 2% range are also on the table. ‘High-interest’ savings accounts range as high as 1.75%, while regular deposits earn dirt and chequing accounts are a disaster. It’s a fact of life that lending rates are rabbits and deposit rates are slugs.

Is it a sound strategy for someone who is risk-averse, possibly retired or on a fixed income, to opt for a 4% guaranteed investment certificate?

Sure, if that’s the only way you can sleep at night, fixated on avoiding market risk. But this is no risk-free strategy. Inflation may be 6.5% now (unofficially, far higher), but it has probably not crested, and will likely not retreat to 4% for a few years. So every month your capital is locked away in an Oaken vault (or more likely loaned out to some schmuck renovating his kitchen), you’re losing purchasing power. Your money devalues. In other word, a loss.

Also remember that five-year GICs do not yield recurring interest, so in a non-registered account you must pay tax on income not yet received. More losses. And interest is taxed as regular income, without the preferential treatment afforded to dividends or capital gains. Further losses. Plus, it’s non-cashable. If circumstances change, too bad. You’re locked in. The bottom line is that, even tucked inside a TFSA, buying this asset in an environment like ours will decrease net worth. It’s hard to justify when a balanced and diversified portfolio of ETFs has yielded about 8% over the past crazy, volatile, virus-addled and Trump-challenged ten years. And done so in a tax-efficient manner.

In conclusion: rates are going up. A lot. But it’s unlikely there’ll be a single year in which bank savings or GICs pace inflation. There are better choices, especially for those who need their financial assets to pay them income. The days of 65-year-olds getting by with 65% of their portfolio in interest-paying stuff, or when 25-year-olds could get ahead by just savings money, are done.

This is not 1995, when GICs paid 7% and inflation was 1.7%.

Instead, there are days of risk. Not of loss, but of outliving your money. Do not be fooled.

About the picture: “I have been a reader of your blog for the last 10-12 years, when I invested my first 500$,” writes  Jean-Sébastien. “I love reading you and I can say that, even though I don’t always follow your advice (I own some ethereum and mine them – can’t take the tech out of a tecky), most of my portfolio is built around the principles you and your colleagues advise us. Now, after 12 years, I can safely say that we have a balanced lifestyle, and more importantly we shouldn’t run out of money. So, a big thank you for making me a richer man today than I would’ve been if I hadn’t crossed your path. Now for the important stuff, you will find attached a photo of Newton, a 7 year old rescue, full time fun guy, part time teddy bear. He was faithful companion to Louka, a malamute who recently passed away at the age of 15 after a journey with us through our hard times living at one point in a small 3 room apartment in Montreal.”

100 comments ↓

#1 Dave on 04.17.22 at 12:14 pm

If there is a recession then interest rates go back down?

Lots of talk of a recession in the news.

#2 Dogman01 on 04.17.22 at 12:17 pm

#84 Ponzius Pilatus on 04.17.22 at 10:57 am
#37 Sail Away on 04.16.22 at 3:14 pm
I can’t believe people think seizing Russian private citizens’ assets is acceptable.
————————-
Kinda agree with you on that one.
Unless they are indicted by an International Court.
Any experts on this here?

———————————————-
Our Oligarchs know that their Oligarchs and their system are ; “one and the same” that is because our Oligarchs understand that their wealth and power is our system.

Now I would support that we have a “kinder gentler machine gun hand” but if you drill down into power our system is just as Feudal as the Russian or Chinese system. It is Human Nature.

Who would have thought that Canadians could have their Banks accounts seized for breaking the law and challenging power, I thought we had courts, due process, Jails, and police for that type of thing. You think our Oligarchs would care how they treat Oligarchs in rival systems?

#3 I don't know on 04.17.22 at 12:22 pm

” The days of 65-year-olds getting by with 65% of their portfolio in interest-paying stuff, or when 25-year-olds could get ahead by just savings money, are done.”

-Correct. Cash is complete trash, and will be even moreso moving forward.

In the words of our illustrious host: whazzit mean?

Stay invested. Any asset: stocks, bonds, real estate, precious metals, collectibles, toilet paper.

I also mostly agree with our host regarding negative equity. If you are flipper who plans on flipping in the next few months, i would hold off. If you are looking to buy a home and raise a family, it’s a no brainer. You buy as soon as you can. That prices will go down a tad in the next few months is a prediction, not fact. If you plan on staying for years, it means zero. Actually it’s still better than paying high rent for the majority.

If you are greedy and planning on buying a detached in leafy hood at a 20% discount, you’ll have to get in line..and it’s a long long line. Not gonna happen.

IDK

#4 Big Bucks on 04.17.22 at 12:24 pm

It will be interesting to see the rent increase for 2023(announced June 15,2022)With annual inflation around 6% it would have to be assumed the increase will be in line with that.Add in any landlord upgrades and many could easily see 7-8% increases.There will be moaning this summer…I can hear it now.4% at Oaken certainly doesn’t help renters on fixed income.

#5 Flop… on 04.17.22 at 12:25 pm

Well, it all changed. Houses. Romaine lettuce. Nat gas and diesel. Insurance premiums. Property taxes. Chips. Panel box cover plates. Netflix. Wage demands. Everything’s inflating.

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

Icecream, you could have mentioned ice cream.

As former owner of Belfountain General Store I thought I could count on your support, this has got to be affecting you too, no?

There’s only one thing left to do.

Buy all the things?

No, that’s crazy talk.

Buy all the flavours…

M47BC

#6 Quntilian on 04.17.22 at 12:34 pm

The monetary disaster -low-rate trap sits resolutely on a pad of right-wing propaganda.

Way back in time when Crowdie was still virile, monsters like Regan and Thatcher rode on a wave of voter’s angst against government overreach.

It was in vogue to blame government spending on everything, and the so, as history clearly and repeatedly documents, anytime a strongman or strongwoman, offers an easy solution, it ultimately leads the pitchman/pitchwoman to power.

Keynes was forced to move over to let a corrupted and misunderstood Friedman theory take over, and so after a 40-year binge of monetary madness, forecasting markets, is as scientific the Farmers’ Alamac.

#7 crowdedelevatorfartz on 04.17.22 at 12:44 pm

@#90 Proud
“Fartz, do you know where they stole from?”

+++

Western know how……99% of the time.
:)
Russia stole the Nuke bomb plans.
China is the worlds leading patent breaker.

Gimme a call when China finally lands a person on the Moon and safely returns them to earth…..50+ years after the USA did it with slide rules and pencils…

#8 Dale From Calgary on 04.17.22 at 12:48 pm

From today’s (April 17) Calgary Herald:
“Calgary mailed assessments to 1,185 addresses outside Canada, representing 0.2 per cent of Calgary’s residential properties. The U.S. made up a slight majority of these, with 656 assessments going to American addresses. The most common states appearing on the list were California (255), Texas (148), and Washington (41).”

City of Calgary officials pointed out that some of these went to Calgarians who live most of the year in Cowtown but winter down south.

#9 Søren Angst on 04.17.22 at 12:58 pm

History repeats. It’s not different this time. Same pile, different dung.

Well said Garth as usual.

During the pandemic I said supply chains will not heal overnight, they take years to create and here we are. Said CBs should be raising rates, will be late to the table (may risk high inflation) and again, here we are.

A few years in the making. A few years to get out from under.

Sad. And will be true.

4% GIC taxed all the while is nuts. Simple as that.

My April weighted average annual dividend yield was 32.6%. Favorable taxation as well. Not nuts.

——————

Carbonara primo abbondante. Guinea fowl involtini secondo. Sachertorte + caffè macchiato.

OOPS, just spilled the Chinati on the keyboard (it was a good year).

brb…

Happy Easter, Buona Pasqua to one and all.

#10 Søren Angst on 04.17.22 at 1:12 pm

Happy Easter, Buona Pasqua to one and all. *

* Except for you

@KremlinRussia_E

Your VIP Reservation is confirmed in Hades and awaits you.

Per their request, your room will be in between Adolf and Iosif. Fun conversationalists for you to share genocide stories with.

Also, very hot year round.

What comes around, goes around.

#11 Doug in London on 04.17.22 at 1:19 pm

Lately China has been hit with another wave of COVID, putting many cities in lockdown again. One locked down city is Shanghai, a major port city. That will add to already bad supply chain disruptions. Inflation is transitory? bah, humbug!

#12 Ustabe on 04.17.22 at 1:25 pm

Who would have thought that Canadians could have their Banks accounts seized for breaking the law and challenging power, I thought we had courts, due process, Jails, and police for that type of thing. You think our Oligarchs would care how they treat Oligarchs in rival systems?

Fairly significant difference between “seized” and “frozen”, no?

Nobody’s assets or bank accounts were taken in Canada. – Garth

#13 Proud Truck Driver on 04.17.22 at 1:33 pm

#7 crowdedelevatorfartz on 04.17.22 at 12:44 pm
@#90 Proud
“Fartz, do you know where they stole from?”

+++

Western know how……99% of the time.
:)
Russia stole the Nuke bomb plans.
China is the worlds leading patent breaker.

Gimme a call when China finally lands a person on the Moon and safely returns them to earth…..50+ years after the USA did it with slide rules and pencils…

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

Western? How glorious!

you mean Western of Canada, your beloved BC, Fartz? Heh?

#14 inflation is rampant on 04.17.22 at 1:40 pm

Says Scotia economist Derek Holt:

“Inflation has become so rampant and widespread that companies are raising prices everywhere and in circular fashion they are reasoning that it’s because of high inflation. It’s not just driven by damaged supply chains or just hot demand, as a pile-on effect is occurring amid unmoored measures of expectations.”

wow. a big bank economist calling inflation “RAMPANT”

central banks are incompetent.
CPI is a SCAM
people are finally waking up to the lies.

kids out of teachers colleges are NOT seeking sup-$40k jobs in Ontario any more, doesn’t cut it any more. can’t live on $40K

especially when Walmart is hiring Truck Drivers for $110k to start.

the chickens have come home to roost. they should have raised rates to 3% last year. 5% this year. but it will get worse.

#15 cto on 04.17.22 at 1:40 pm

why is inflation always a result of something other than central bank actions????…hummm,
what have the central banks been up to for the last decade or so…?
Milton Friedman:
“Inflation is always and everywhere a monetary (central bank) phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

#16 Shawn on 04.17.22 at 1:43 pm

Sail Away is not sure about Putin

On an unrelated matter: Do you think Putin is evil?

———-

At this time, I have insufficient information, or interest, in the subject to advance an opinion.

****************************
I like most of your comments. You make a lot of sense most times. But seriously, you are not yet convinced that Putin is incredibly evil?

#17 crowdedelevatorfartz on 04.17.22 at 1:52 pm

@#13 Proud
“you mean Western of Canada, your beloved BC, Fartz? Heh?”

+++
Actually I’m from the East Coast and work on the West Coast. With many visits to friends in Ontario and Quebec over the years.
But that’s neither here nor there.
“Western” as in Western society, Western philosophy, Western economy….unlike Chinese pseudo Communist capitalism and or Putin’s dictatorial autocracy in Russia.

But back to more important misconceptions……
I believe you Pride Truckers pronounce it “Eh?”

#18 I don’t know on 04.17.22 at 1:56 pm

Dogman01 on 04.17.22 at 12:17 pm

Only the extremely cynical, paranoid and out of touch would come to the conclusion that the Canadian system is in the same universe as the countries mentioned.

What is clear, however, is the extreme elements of our society are trying to use the Ukraine crisis for their own political gain. Fortunately, the vast majority of us in the middle can see this little ploy for what it is.

IDK

#19 Proud Truck Driver on 04.17.22 at 2:05 pm

Fartz,

Are these awesome technologies stolen from your (Western) plumbing shop?

https://www.space.com/china-chang-e-5-moon-sample-return-lunar-orbit

https://www.space.com/china-mars-rover-landing-success-tianwen-1-zhurong

#20 Linda on 04.17.22 at 2:15 pm

If ‘Newton’s’ coloring was more grey than tan in shade he’d really look like the coyote I saw trotting down the back alley the other day.

Inflation indeed. To add yet more fuel to the fire, apparently quite a lot of China is in lockdown, not just Shanghai. The situation is so dire that its estimated China’s GDP will drop by a percentage point or more due to ongoing supply chain disruptions.

Speaking of supply chain, bought a package of razor cartridges today. 8 cartridges for $32 Canadian not including GST & those were by no means the most expensive ones on offer. Now each cartridge is supposed to be good for a full month of shaving, but holy doodle! Those things cost as much as the boneless leg of lamb I’d picked up for Easter dinner. Of course, they will last much longer than the leg of lamb will:)

#21 Flop... on 04.17.22 at 2:19 pm

Inflation, plus bird flu, times supply chain issues, equals eggs up by 60% in The U.S Midwest apparently.

If you want to make an omelette, sometimes you have to crack a few economists…

M47BC

#22 Dr V on 04.17.22 at 2:27 pm

For those seeking good dividend investments

https://www.theglobeandmail.com/investing/education/article-why-dividend-payout-ratios-arent-always-what-they-seem/

I think it is important now to examine dividends for
potential of increases to match inflation.

#23 Patel on 04.17.22 at 3:17 pm

Crowdedelevatorfartz

As soon as you post links from BBC ALjazerra etc. your post loses its credibility.

Have a good day.

#24 Al on 04.17.22 at 3:23 pm

What’s next, the BoC rate will be 2.5%-3% by the end of 2022 and continue to rise in 2023, house prices will fall by 32% in the next 2 years, unemployment rate 10%+, recession.

#25 The real Kip (Ret) on 04.17.22 at 3:31 pm

The spread is getting wider between inflation and rates. BoC is chasing its tail. They are too timid and won’t control run away inflation with a measly 1% interest rate.

#26 cuke and tomato picker on 04.17.22 at 3:41 pm

Talking about putin and the other autocrats in the here after when they see where the creator will put them one theory is they will chose to self destruct rather than continue to exist.

#27 Balmuto on 04.17.22 at 3:48 pm

“Inflation is always and everywhere a monetary (central bank) phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” – Milton Friedman

I always had an issue with this statement. What about just an increase in the velocity of money? If you define inflation as an increase in the money supply and then say that’s what causes inflation, it’s a circular argument. Inflation, defined as higher prices, can be caused by other factors, such as more people spending rather than saving, which is an increase in the velocity of money but not necessarily the money supply.

#28 Shawn on 04.17.22 at 3:53 pm

Who’s Moaning?

Additionally, Shawn is moaning about Jeff Bezos, not your neighbourhood plumber. – Garth

**************************************
I said nothing about Jeff Bezos. What I said was that Canadian corporate taxes rates are down by fully HALF since the 1980’s.

There is room to increase corporate taxes especially on the giant protected Canadian banks. Also, grocery stores and most other corporations that serve us have no ability to leave this country. Nor will they stop investing.

I do not agree with the world-wide race to zero on corporate taxes that has occurred over the last forty years or so.

The old system of lower taxes only for manufactures (who faced stiff foreign competition) probably made more sense.

There should also be international agreements to forbade corporate welfare of attractive companies with government subsidies.

The proposed new 15% minimum global corporate tax rule would have been a good idea but the dummies made it something like 100 pages of rules when it should have been about ten words, a page at most.

Canada’s banks are about to see a $6 billion tax increases. They will increase user fees as a result. How will that work out for you? – Garth

#29 Sail Away on 04.17.22 at 3:54 pm

#16 Shawn on 04.17.22 at 1:43 pm

Sail Away is not sure about Putin

On an unrelated matter: Do you think Putin is evil?

———–

At this time, I have insufficient information, or interest, in the subject to advance an opinion.

———–

I like most of your comments. You make a lot of sense most times. But seriously, you are not yet convinced that Putin is incredibly evil?

———–

Our cat is evil. He kills all the time, even when not hungry, and appears to take great pleasure in torturing his prey by disabling it piece by piece. Cute little fella.

#30 an investor on 04.17.22 at 3:58 pm

Ordinarily, I might consider a 4% GIC for my registered accounts, except that I believe things are going to improve considerably in 2022 because Biden is finished. Wait until the deleted files from the laptop are released this week. And then there’s the Durham investigation. The GOP will dominate the midterms and the markets will respond favourably because we know what comes next; Trump. Four more years of peace and prosperity.

If that doesn’t happen, as Canadians, we have MAID. All it takes to qualify is 2 years of depression. Just imagine how messed up this country will be in 2025. Think about how many people will be applying for an assisted death.

The Great Reset is so awesome.

You Trumpers need help. – Garth

#31 crowdedelevatorfartz on 04.17.22 at 4:01 pm

@#19 Pride of Truck

Yawn.
All stolen tech from Western scientific prowess..

The USA was sending photos from the Mars surface in 1976….

https://www.360onhistory.com/blog-posts/first-ever-images-mars/

1976. When China’s Gang of Four was busy hounding millions of people to prison, suicide and or starvation through failed political and agrarian policies ….a “Cultural” revolution…

A robot bringing dirt from the Moon in 2020?
Big whoop.
Elon Musk will blow that out of the water in the next year with 4 tourists circling the Moon before he has Americans land back there….. all while he runs a car company and launches hundreds of profitable satellites.

Try harder.

@#23 Patel.

PM Modi truths hitting below the Sedition line?
Sorry.
The truth isn’t pretty.
:)

#32 Patel on 04.17.22 at 4:04 pm

Sir,Mr Turner

I would like to rebuke Crowdedelevatorfartz post with your permission.If you don’t see it fit please feel free to modify or delete.thx.

Crowdedelevatorfartz

Have a read at this.

https://swarajyamag.com/culture/why-anthony-de-mello-is-important-for-indian-christianity

Since the independence from British, India has put huge emphasis on equality of all religions.Just like West, religion and state are separate and religion has no place in constitution.However one can not ignore thousands of years old cultural heritage.Just like it can’t be ignored that western society values are based on Christian values.
Over the years there have been Muslim,Christian,Sikhs as PM or President of India.Tbere have been numerous provincial chief ministers as well.This is not because minority demands it but because constitution guarantees it which is based on Hindu majority ethos.But line everything else in today’s public domains, information is twisted to suit a narrative.

Us Indians, specially Hindus are maligned constantly in liberal media ( just like conservatives on CBC BBC etc).Despite the FACT that Hinduism is one of the oldest,if not the oldest civilization in the world.Millions of Hindus leave in many countries outside India peacefully.We don’t need any political party in India ( even conservative) to spread our philosophy.To be honest, our population is going to be reduced over this century due to conversions which are sometimes forceful or due to economic bribes.

I would also like to correct you that Muslims make more like 20% population of India (200million plus).And if you add illegal aliens from Bangladesh it will be even more .Mosque that you talk about was originally a Hindu temple very sacred to Hindus but was destroyed as part of Islamic inversions a thousand years ago along with many other cultural symbols of that era.All the 70 years of liberal government did prior to 2014 was minority appeasement ,specially Muslim community because they are a big vote banks.In doing so they have actually done damage to well being of most Muslims.

PM Modi won democratically for 2 consecutive elections and most likely will for 3rd time in 2024. In recent provincial poles his party did very good show considering anti incumbency.

Ultimately what matters is economic progress and prosperity for all.Thats what Indian government working on.Look at progress India is making in terms of clean energy developement, infrastructure etc under conservatives.

Now all you want to focus is MSM, be it.Its not going to change what is going to happen going forward.

#33 Millennial 1%er on 04.17.22 at 4:11 pm

And this is why I unironically delimit my wealth in the amount of mcdoubles I can buy :P

#34 Bill on 04.17.22 at 4:21 pm

The run on the banks:
https://www.youtube.com/watch?v=GMBxFgHCNUM

There was no run on the banks. Just like no grandmother was trampled to death by a police horse during the protest. There’s enough ugly truth in the world without making stuff up. Truckers should learn this. Looks bad on them. (The ‘source’ of this story is an anti-vax lawyer who represented the Freedom Convoy.) – Garth

#35 crowdedelevatorfartz on 04.17.22 at 4:21 pm

@#29 Patel
“Ultimately what matters is economic progress and prosperity for all.Thats what Indian government working on.Look at progress India is making in terms of clean energy developement, infrastructure etc under conservatives.”

+++
You speak of “biased” media when Modi has crushed all dissent.
It’s not hard to win an election when the govt in power ( Modi’s BJP Party) holds all the media in the palm of it’s hand with threats of “Sedition” if they say anything even remotely critical of him.

Even your beloved Hindustan Times has stated about the Sedition Law:
And I quote
“This law now needs to go. A mature, liberal democracy cannot fight its own citizens,”

https://www.reuters.com/article/us-india-court-sedition-idUSKCN1PA13N

https://theprint.in/opinion/elections-meaningless-in-india-bjp-wins-even-when-it-loses/462971/

#36 crowdedelevatorfartz on 04.17.22 at 4:24 pm

Prime Minister Modi is the Donald Trump of the Far East.

https://www.youtube.com/watch?v=ZpRSv19PvK4

#37 Shawn on 04.17.22 at 4:28 pm

It’s not about me

Canada’s banks are about to see a $6 billion tax increases. They will increase user fees as a result. How will that work out for you? – Garth

*************************
For sure, that would be $6 billion into government coffers to reduce debt.

Most of that $6 billion is the one-time 15% hit on 2021 incomes.

They are only facing a 1.5% increase in tax rates after having had them reduced by about 25% over a period of 35 years. Cry me a river. How much did bank fees go down when bank corporate taxes fell?

As for investments they took the extra money to invest in the U.S. mostly.

Whether they can increase fees remains to be seen. They may already be charging the maximum the the market will bear.

Banks are starting to face at least some competition.

We’ll see how it pans out for the country. I’m not worried about me, or you certainly.

None of the money will repay federal debt, since the feds are still spending (even with this tax windfall) $150 billion a year more than they take in. Banks are the spine of the Canadian economy, and core assets of life-long, government defined-benefit pension plans that folks like you and your wife enjoy. Be careful what you yearn for. – Garth

#38 Bezengy on 04.17.22 at 4:30 pm

Can’t help but feel sorry for those folks who were seduced into opting for a reverse mortgage, now with some paying over 6 percent interest. Without house appreciation like we’ve seen in the past few years they may see a quick reduction in their net worth. All because they chose to stay in a home with three empty bedrooms that they don’t need instead of taking their windfall and investing in a B & D portfolio. Meanwhile their bills for maintaining that shack are going uppa, uppa, uppa.

#39 Proud Truck Driver on 04.17.22 at 4:33 pm

Fartz,

How about the below technology?

Did they steal it from your Western brother’s garage?

https://www.bnnbloomberg.ca/u-s-gen-mark-milley-likens-china-s-hypersonic-weapon-test-to-sputnik-moment-1.1672585

Fartz,

Instead of bad mouthing to no avail, you should ask your Western brothers and sisters to arrest Chinese high tech CEOs and CFOs whenever they land in the vast network of Western airports, put them into Guantanamo Bay prison, and use your western RULE OF LAW to extinguish them!

#40 Bezengy on 04.17.22 at 4:39 pm

#5 Flop… on 04.17.22 at 12:25 pm
Well, it all changed. Houses. Romaine lettuce. Nat gas and diesel. Insurance premiums. Property taxes. Chips. Panel box cover plates. Netflix. Wage demands. Everything’s inflating.

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

Icecream, you could have mentioned ice cream.

————–

Just bought a cone Friday while visiting NOTL. $7.25 one scoop, plus tip of course so $8.35

Whatever, sometimes you just gotta live big.

#41 But, but, but the vaccines help.. on 04.17.22 at 4:50 pm

DELETED

#42 [email protected] on 04.17.22 at 5:12 pm

Counterpoint!
https://awealthofcommonsense.com/2022/04/why-its-so-hard-to-spend-money-in-retirement/

Don’t forget to spend people!

#43 espressobob on 04.17.22 at 5:22 pm

The global publicly traded corps will do just fine and mitigate inflation as long as one is invested over time.

Consumers consume every single day, and in most cases, not by choice.

It’s not easy staying ahead of the curve, many panic and loose perspective. Nasty.

#44 crowdedelevatorfartz on 04.17.22 at 5:26 pm

@#39 Pride before the fall.

Did they steal it from your Western brother’s garage?”
+++++

Apparently.
Every chance they get.
:)

https://www.justice.gov/opa/pr/jury-convicts-chinese-intelligence-officer-espionage-crimes-attempting-steal-trade-secrets

https://www.technologyreview.com/2020/09/03/1007609/trade-secrets-china-us-espionage-timeline/

https://www.businessinsider.com/recent-spy-case-shows-how-industrial-espionage-helps-chinese-military-2021-12

Chania has a long long history of buying or stealing US military secrets.

As well as blatant, endless patent theft.

https://foreignpolicy.com/2019/10/16/china-intellectual-property-theft-progress/

$255 to $600 BILLION in patent theft PER YEAR

But, if it makes you feel better, you just keep telling yourself how brilliant all that stolen Western chinese tech is….

#45 Ponzius Pilatus on 04.17.22 at 5:57 pm

#23 Patel on 04.17.22 at 3:17 pm
Crowdedelevatorfartz

As soon as you post links from BBC ALjazerra etc. your post loses its credibility.
————–
Why would that be?

#46 Ronaldo on 04.17.22 at 5:57 pm

So this is what 2.5 million gets you in the Mt. Pleasant area of Vancouver. This house is currently getting ready for tearing down. You are basically paying that for the lot which is 33 feet. So, by the time a house is built on this lot the value will be at least 3.5 million. Who can afford to live there? Certainly not the average wage earner living there. What are the chances these lot prices will correct?
https://www.redfin.ca/bc/vancouver/85-W-20th-Ave-V5Y-2C2/home/155585820

#47 Andrew in Winnipeg on 04.17.22 at 5:59 pm

#30 an investor
“The GOP will dominate the midterms and the markets will respond favourably because we know what comes next; Trump.”

Or, possibly DeSantis. Watching him pick fights with Disney, his state’s biggest employer, should give all the capitalists pause for thought. The GOP is no longer the party of business, it’s the party of religious weirdos who wish 1950 social attitudes would come back. Corporate America is increasingly having to work around inconvenient laws put in place by Republican leadership.

No matter who wins the era of political instability will not get any better either. This is bad for business too. They just want to sell things, but have to pick a side.

#48 Love_The_Cottage on 04.17.22 at 6:02 pm

“The days of 65-year-olds getting by with 65% of their portfolio in interest-paying stuff, or when 25-year-olds could get ahead by just savings money, are done.”

“Sure, if that’s the only way you can sleep at night”
__________
Agreed, and if that 65 year old sleeps better with, say, 10-20% in laddered GIC’s then the downside isn’t as large.

#49 Ponzius Pilatus on 04.17.22 at 6:04 pm

#26 cuke and tomato picker on 04.17.22 at 3:41 pm
Talking about putin and the other autocrats in the here after when they see where the creator will put them one theory is they will chose to self destruct rather than continue to exist.
——————–
If Putin is Evil and God is good and created all people.
Who created Putin?
Just asking another existential question, CEF.

#50 Ponzius Pilatus on 04.17.22 at 6:14 pm

#9 Dolce

Carbonara primo abbondante. Guinea fowl involtini secondo. Sachertorte + caffè macchiato.
—————-
You eating Sacher Torte.
Sacrilege!

#51 Proud Truck Driver on 04.17.22 at 6:18 pm

Heh Fartz,

That’s why i suggested to you to continously arrest them in your western airports, use yours best weapons which is your rule of law to extinguish them. This is much more effective for you than faking numbers and making lies!!!

#52 Ponzius Pilatus on 04.17.22 at 6:25 pm

#31 crowdedelevatorfartz on 04.17.22 at 4:01 pm
@#19 Pride of Truck

Yawn.
All stolen tech from Western scientific prowess..

The USA was sending photos from the Mars surface in 1976….

https://www.360onhistory.com/blog-posts/first-ever-images-mars/

1976. When China’s Gang of Four was busy hounding millions of people to prison, suicide and or starvation through failed political and agrarian policies ….a “Cultural” revolution…

A robot bringing dirt from the Moon in 2020?
Big whoop.
Elon Musk will blow that out of the water in the next year with 4 tourists circling the Moon before he has Americans land back there….. all while he runs a car company and launches hundreds of profitable satellites.

Try harder.

@#23 Patel.

PM Modi truths hitting below the Sedition line?
Sorry.
The truth isn’t pretty.
:)
—————-
CEF, You have an opinion.
Don’t be sorry.
But the TRUTH, it ain’t.

#53 Rochdale GM on 04.17.22 at 6:26 pm

Orange bank paying me 2.8 on my HISA until Sept. So at least that little bit won’t crash like my preferreds.

The pref ETF called CPD is paying a yield of 4.29% and comes with a dividend tax credit. Do you have a math problem? – Garth

#54 Quintilian on 04.17.22 at 6:41 pm

#49 Ponzius Pilatus on 04.17.22 at 6:04 pm
“If Putin is Evil and God is good and created all people.
Who created Putin?
Just asking another existential question, CEF”

Hey Pilatus, that is not an easy one to answer, even the intellectual giants on this blog can’t answer that.

But I don’t mind teaching the curmudgeons, and so I will answer from a philosophy perspective- not much into dogmatics.

Apparently when God created all people, he could only create them according to the best possible outcome, but not a perfect outcome.

Because just as in Economics there are tradeoffs, and in this example, God had to compromise to give people free will.

#55 Shawn on 04.17.22 at 6:42 pm

Inflation and Money Supply

#27 Balmuto on 04.17.22 at 3:48 pm

“Inflation is always and everywhere a monetary (central bank) phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” – Milton Friedman

I always had an issue with this statement. What about just an increase in the velocity of money? If you define inflation as an increase in the money supply and then say that’s what causes inflation, it’s a circular argument. Inflation, defined as higher prices, can be caused by other factors, such as more people spending rather than saving, which is an increase in the velocity of money but not necessarily the money supply.

********
That sounds very logical. But it’s easier to rant that inflation was caused by “money printing”. Easier to foam at the mouth about Trudeau.

#56 VladTor on 04.17.22 at 6:42 pm

Garth
In the meantime, as you know, the BoC rate doubled last week from 0.5% to 1%

***********
The phrase “rate doubled” sounds awesome and scared! But compared to inflation of 6.5%, this is ridiculously low. In fact, they lend money for free.

Right now, and not by the end of 2024, the rate should be in a healthy economy, well, at least 5%. Bubbles will inflate – hyperinflation ahead!

#57 Patel on 04.17.22 at 6:47 pm

Crowdedfartz

Everything that you seem to believe is based on global leftist agenda media.These lobby is trying hard to undermine Modi and his government because this government thinks independently and trying to make India economically prosperous.More this lobby goes to extreme ways to defame Modi ,more it’s going to hurt them back.Wait for 2024 elections.

It’s very easy to find the links of such misinformation articles because that’s all there is online about India.You have to really talk to someone who can provide a balanced opinion.Dont even think of Indian media because they are worse than CBC and BBC.For a westerner like you it’s a very difficult task to understand all the historical aspects of India.So either you should do a thorough research and provide information or stop posting MSM articles where truth is not part of their dictionary.

#58 pPrasseur on 04.17.22 at 6:54 pm

Orange bank paying me 2.8 on my HISA until Sept. So at least that little bit won’t crash like my preferreds.

3M stock (MMM) pays 4% dividend (has risen pretty much every year for decades). And the company can raise its prices to follow inflation.

There are many like that if you need to “diversify”…

#59 JSS on 04.17.22 at 6:56 pm

“ This is not 1995, when GICs paid 7% and inflation was 1.7%.”

Mmm I love 7% GICs. And long walks on the beach.
I’d be interested in a 5% GIC too.

#60 VladTor on 04.17.22 at 7:00 pm

#39 Proud Truck Driver on 04.17.22 at 4:33 pm
Fartz,
… you should ask your Western brothers and sisters to arrest Chinese high tech CEOs and CFOs whenever they land in the vast network of Western airports, put them into Guantanamo Bay prison, and use your western RULE OF LAW to extinguish them!

***********
You should go to any store and see where almost all the goods are made.

After that, demand the arrest of all CEOs and CFOs here in the West who for 30 years moved production to China instead of developing the economy of their own countries and giving work to their citizens.

#61 VladTor on 04.17.22 at 7:08 pm

#20 Linda on 04.17.22 at 2:15 pm

Speaking of supply chain, bought a package of razor cartridges today. 8 cartridges for $32 Canadian not including GST & those were by no means the most expensive ones on offer. Now each cartridge is supposed to be good for a full month of shaving, but holy doodle! … Of course, they will last much longer than the leg of lamb will.

***********

Dear Linda, here is tip for you:

Cut lamb leg in 8 pieces and froze each one separately with one razor. Use same time when you need razor.

Will last much longer.

#62 VladTor on 04.17.22 at 7:11 pm

#5 Flop… on 04.17.22 at 12:25 pm

Ice cream, you could have mentioned ice cream.

********

I agree! Don’t touch Ice cream …. or you will have revolution!

#63 Philco on 04.17.22 at 7:15 pm

#93 Ponzius Pilatus on 04.17.22 at 11:58 am
#88 Shawn on 04.17.22 at 11:25 am

Higher corporate taxes increase corporate overhead and ultimately prices charged to consumers. That fuels inflation, already raging. Tax overhead also halts expansion, reinvestment and job creation. You sound quite one-dimensional on this issue. – Garth
———————-
Sorry, Garth.
But as a devout lefty, I gotta agree with Shawn.
Many small companies incorporate just to get the corporate tax rate and to avoid personal liability.

That made no sense. Incorporating does not spare a sole owner from legal liability (that is a myth). As corporate profits are taken into personal income, they are taxed. Additionally, Shawn is moaning about Jeff Bezos, not your neighborhood plumber. – Garth
=========================
A devout lefty Ponz? lol that’s what wrong with you.

One incorporates for a variety of reasons but combine tax rate by the time it hits my jeans is 50%ish.
There’s no way out. Proprietorship just pays up front but in corp you can defer tax for future biz investment.
I prefer to take no income just keep expanding or buying stuff in the CO that’s a justifiable asset. Some cool stuff though like more dirt diggers!
Why are people wining??!

#64 Doug t on 04.17.22 at 7:16 pm

#26 cuke and tomatoes

Yeah that whole “creator” story is ancient history cuke – stolen from the Sumarian and Mesopotamians and rinsed and repeated – just a story like Goldilocks

#65 Grunt on 04.17.22 at 7:24 pm

Humanity one planet of disparaging neighbors.

Make no mistake the atrocities presently occurring in Ukraine are facilitated by Putin. It is in the interests of neighboring countries and UK govenment to keep Putin bogged down in a Vietnam-type quagmire. And of course sell weapons and profit.

#66 Uncle Thomas on 04.17.22 at 7:48 pm

#14 inflation is rampant
“kids out of teachers colleges are NOT seeking sup-$40k jobs in Ontario any more, doesn’t cut it any more. can’t live on $40K”
——————————————————————
If they are paying them that for doing what amounts to a part time job then these whinny little brats with their cultural Marxism an identity politics are being way over paid !!

#67 Steven on 04.17.22 at 7:53 pm

Rates are NOT going up. A lot.

Another .50 until we see the stock market wobble and rates start to reduce by .25 at a time..

Toooooooooooooooooooooooo much debt folks. As the banks scream rates are going up a lot, they are quietly buying bonds for the trip back down.

Remember the banks control the money supply which controls the earth.

So easy to see. Borrowers just hang on a year or so and things will be right back down and nada will change except for a few foreclosures, then it’s up and away for the final blow off.

BTW, OIL prices alone will make inflation barely come down. Stock up and be ready…

#68 TurnerNation on 04.17.22 at 7:57 pm

A tip of the hat to Smoking Man.
Sht Bungs in Long Branch are still pegged at 999,999.
This one has much green tiling with unknown provenance. Carbon date might discern its year.

https://www.realtor.ca/real-estate/24197594/16-forty-third-st-toronto-long-branch

—-
Science in Kanada. Yep “The Rules” and submission thereto are designed to a be a permanent part of society. Kanadians even make their own.

.Carleton University extending mandatory mask requirements (ottawa.ctvnews.ca)

“Easter weekend arrives without restrictions — so some communities are making their own”
https://www.cbc.ca/news/canada/ottawa/first-major-holiday-weekend-with-almost-no-restrictions-in-ottawa-1.6421844



Gee never saw that coming. Last Aug:

#24 TurnerNation on 08.28.21 at 1:06 pm
Things which have the permanency in Kanada:

1. Fictional ‘State of Emergency’.
2. Flags at half mast
3. CV Rules. Always the rules Comrade.

#69 Elon Fanboy on 04.17.22 at 7:59 pm

Well if you really want some ‘excitement’ in your life there are plenty of high yield monthly payers out there, many with a good long term record of dividend payouts.

Leveraged closed end funds, Split share companies, leveraged covered call ETFs.

Share prices can be a bit volatile. Or suddenly tank if a share offering is suddenly announced, but those lovely dividend keep paying out regardless in most cases, which is what us boomer retires care about.

QYLD, TXF, GOV, GDV, FFN, EIT-UN, ENS…to name a few.

Portfolio of 24 holdings is yielding around 11.3% on cost.

Not for the ultra cautious!

#70 crowdedelevatorfartz on 04.17.22 at 7:59 pm

@#49 Ponzie’s Putin Parentage problem.
“Who created Putin?
Just asking another existential question, CEF.”

+++
Well.
Without getting too personal.
I think you’d have to put that question to his parents.
OR
THIS!!!!!

https://www.google.com/aclk?sa=l&ai=DChcSEwjNvc3mppz3AhUHC60GHVW0Bt4YABAUGgJwdg&sig=AOD64_2lLl28rBd0R3XCFLDWt8jjuvHxmA&q&adurl&ved=2ahUKEwiHpMHmppz3AhXBIEQIHc37A18Q0Qx6BAgHEAE

#71 crowdedelevatorfartz on 04.17.22 at 8:08 pm

@#57 Patel
“It’s very easy to find the links of such misinformation articles because that’s all there is online about India.You have to really talk to someone who can provide a balanced opinion.Dont even think of Indian media because they are worse than CBC and BBC.”

+++

Hmmmm.

So if I understand you correctly…..

Western media is a biased , leftist conspiracy.
Indian media is even “worse than the CBC and BBC” ( your words).

Al Jazeera, Reuters, The Hindustan Times…..all are biased, leftist, crap…… according to you…
All are involved in a conspiracy to denigrate the honest, unimpeachable Prime Minister Modi
Yes?

Ok
Please provide your links to unbiased, truthful reporting.
I await the endless stream of objective, unbiased, pro PM Modi information.

#72 crowdedelevatorfartz on 04.17.22 at 8:12 pm

Geez.
Judging from Proud Truck Driver and Patel.
I’ve managed to annoy more than 50% of the planet!
:0

Happy Easter everyone!

#73 TurnerNation on 04.17.22 at 8:31 pm

Supply Chain. Third year straight of this. It’s not a global reset wink wink. We gotta flatten that Middle Class curve.

.Apple, others face shipment delays as China COVID curbs squeeze suppliers – analysts (reuters.com)

.NYC to move up from Covid-19 Alert Level “low”, to “medium” this week (ny1.com).

— Science in Kanada. Almost over guy, soo close to back to normal.

.’Don’t trust rapid tests’: Expert advises Canadians to test more than once before making plans (ctvnews.ca)

— Life in Occupied Kanada. Ha the Leftists finally realize that the crackdown on those rowdy truckers will actually affect them. Was it all a set up? Manufactured Consent?

https://www.thespec.com/opinion/contributors/2022/04/11/bill-100-looking-to-silence-government-critics.html
“You don’t need to stretch too far back in history to think about the kinds of protests that governments might use a bill like this to shut down: the Indigenous land defenders engaged in rail blockades near the Tyendinaga Mohawk Territory between Toronto and Montreal in 2020; the climate activists demonstrating at the Toronto Pearson airport in the fall; the Ottawa airport cabbies demonstrating in 2015; or Black Lives Matter…

#74 mickclean on 04.17.22 at 9:38 pm

Despite the huge inflation numbers as Garth mentions, seniors can look forward to a CPI increase of 1% later this month. How do they get away with this nonsense, does anyone give a damn about seniors?
https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/payments.html

#75 Stone on 04.17.22 at 9:53 pm

#40 Bezengy on 04.17.22 at 4:39 pm
#5 Flop… on 04.17.22 at 12:25 pm
Well, it all changed. Houses. Romaine lettuce. Nat gas and diesel. Insurance premiums. Property taxes. Chips. Panel box cover plates. Netflix. Wage demands. Everything’s inflating.

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

Icecream, you could have mentioned ice cream.

————–

Just bought a cone Friday while visiting NOTL. $7.25 one scoop, plus tip of course so $8.35

Whatever, sometimes you just gotta live big.

———

I recommend Costco soft serve ice cream (chocolate). Under $3. And tastes yummy. And, the waffle cone is also yummy. Even in NOTL.

#76 april on 04.17.22 at 10:14 pm

#3 – sounds like a realtor?

#77 Dr V on 04.17.22 at 10:43 pm

63Philco

“One incorporates for a variety of reasons but combine tax rate by the time it hits my jeans is 50%ish.
There’s no way out. Proprietorship just pays up front but in corp you can defer tax for future biz investment.”
———————————————————

Agreed.

#78 T Rex and the dinosaur clique on 04.17.22 at 11:24 pm

Have you lot all seen this?

https://www.gensqueeze.ca/

This guy is basically a communist. Tenured prof with a DB pension. Going after old folks and their paid-off houses.

Scroll through the site and you get the idea. He wants ….. donations. Set yourself up for a monthly payment off your credit card. So you can support “housing fairness”. I am not kidding. Look:

https://www.gensqueeze.ca/join

“your credit card will be charged every month”.

This guy should run for government. He understands. You make things cheaper by taxing them. You give people more money, by taking money from them.

The mantra here? A college or uni grad, directly out of school, should be able to afford to purchase a detached house, in the neighbourhood where they grew up, as their first home purchase. They should be able to do so, without having to take on a significant mortgage debt. They should, after purchasing their house, have money to spend on travel and entertainment.

Otherwise society is broken.

This guy should move to New York or London, England, where people rent their whole lives and never own detached houses.

Oh and once you buy that detached house, straight out of school, with your milk money and maybe a few months’ savings from your coffee fund, you should be able to live in that house problem free.

If the roof leaks, there should be an app for that. If the foundation shifts because the previous owner dug under the footings, you should be able to just deal with it by taking a few minutes on your I phone. Contractors should provide services for affordable prices. 30K to replace a roof? Unheard of. It should be a price that a young person can afford.

This guy is seriously a communist. He should take a trip to a communist country and see what the free, affordable housing looks like. People like this just make my blood boil.

#79 Ponzius Pilatus on 04.17.22 at 11:33 pm

#75 Stone on 04.17.22 at 9:53 pm
#40 Bezengy on 04.17.22 at 4:39 pm
#5 Flop… on 04.17.22 at 12:25 pm
Well, it all changed. Houses. Romaine lettuce. Nat gas and diesel. Insurance premiums. Property taxes. Chips. Panel box cover plates. Netflix. Wage demands. Everything’s inflating.

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

Icecream, you could have mentioned ice cream.

————–

Just bought a cone Friday while visiting NOTL. $7.25 one scoop, plus tip of course so $8.35

Whatever, sometimes you just gotta live big.

———

I recommend Costco soft serve ice cream (chocolate). Under $3. And tastes yummy. And, the waffle cone is also yummy. Even in NOTL.
—————————-
And pair that with a huge Hot Dog plus fountain drink for one buck fifty, and your in fast food heaven.
Great inflation buster, too.

#80 Ponzius Pilatus on 04.17.22 at 11:43 pm

#77 Dr V on 04.17.22 at 10:43 pm
63Philco

“One incorporates for a variety of reasons but combine tax rate by the time it hits my jeans is 50%ish.
There’s no way out. Proprietorship just pays up front but in corp you can defer tax for future biz investment.”
———————————————————

Agreed.
———————-
Haha,
Me thinks one of the main reasons why sole proprietors incorporate is so that they can put President & CEO on the business cards.
And the wife becomes Vice President.
And they can declare and draw dividends.
Mini Musks, them all.

#81 VladTor on 04.18.22 at 12:27 am

to #57 Patel

*************
Modi ? Who is that?

Why do we here in Canada have to think about some Modi? There are more than 150 countries in the world. If we strain our brains about the rest of the 149 Modi’s, we’ll just go crazy. Let’s think of our dear Trudeau and non-financial finance minister. Does her name seem to be Christia?

#82 Diharv on 04.18.22 at 1:38 am

We could have been a bit less behind the curve by now if in January Tiff wasn’t the only one in the country who thought we weren’t ready to start raising rates. The balancing act of playing catch up is going to be tricky.

#83 Gen Z on 04.18.22 at 7:54 am

Systemic discrimination? If the landlord was Brad Lamb Frank Leo, or a real estate mogul the deviant tenant would be removed by force from the Toronto Police/OPP/Halton Region Police?

https://www.cbc.ca/news/canada/toronto/this-landlord-bought-a-toronto-area-farm-2-years-ago-but-the-tenant-has-barred-him-from-the-property-1.6420494

#84 Dharma Bum on 04.18.22 at 9:22 am

#82 Diharv

We could have been a bit less behind the curve by now if in January Tiff wasn’t the only one in the country who thought we weren’t ready to start raising rates.
——————————————————————————————————–

You just can’t trust anybody named after a lame film festival.

See what I mean?

The guy is a know-nothing poser.

https://betterdwelling.com/quantitative-sleaze-how-the-bank-of-canada-mislead-politicians-on-real-estate-qe/

Incompetence.

He fits right in with the rest of them.

The long term solution to Canada’s salvation?

Becoming the 51st state.

https://biv.com/video/peter-zeihan-strategist-and-futurist-geopolitics-and-demographics

#85 Dharma Bum on 04.18.22 at 9:29 am

#80 Ponzius Pilatus

Me thinks one of the main reasons why sole proprietors incorporate is so that they can put President & CEO on the business cards.
And the wife becomes Vice President.
—————————————————————————————————-
Haha!

Just like Tex & Edna Boil.

https://www.youtube.com/watch?v=H8NQZGXEcm0

#86 Bitcoin Bro on 04.18.22 at 9:32 am

Cash is indeed trash. Good advice Garth.

I’m really not a doom and gloom kind of person but I really don’t think any of us regular Canadians can wrap our heads around just how bad inflation is still going to get.

If the original pandemic and government response yielded double-digit real inflation after a few years, what is ongoing war in Europe and China’s asinine “zero covid” policy going to do?

Make no mistake about it – this is an evolving global meta crisis.

#87 earthboundmisfit on 04.18.22 at 9:37 am

G&M: “Kevin O’Leary-backed WonderFi to buy Coinberry, second Canadian crypto exchange in less than a month”

In a perverse sort of way you have to kind of admire O’Leary’s steadfast and laser-focused determination to separate people from their money.

#88 IHCTD9 on 04.18.22 at 9:41 am

#83 Gen Z on 04.18.22 at 7:54 am
Systemic discrimination? If the landlord was Brad Lamb Frank Leo, or a real estate mogul the deviant tenant would be removed by force from the Toronto Police/OPP/Halton Region Police?
____

I love how Realtor dude says he “…comes from an agricultural background, and would like to farm this property”.

LOL!

Riiiiight. Farming is way more profitable than sitting on 40 acres parked near the outskirts of Brampton in the hopes that someday a tasty fliparoo will materialize.

#89 Linda on 04.18.22 at 10:10 am

#61 ‘Vlad’ – LOL!

#74 ‘mick’ – ‘average’ CPP is about $700 so a 1% increase is $7. Not exactly party at the seniors lodge time given how much essentials have jumped in price.

Speaking of price increases, as per one poll 31% of Canadians ‘aren’t making enough to cover basic expenses’. The article didn’t outline what was considered basic expenses & went on to say respondents were talking about monthly expenses & debt payments. Same poll confirmed that 49% of respondents are within $200 of not being able to cover their monthly costs. Wonder if those being polled were seniors?

#90 Sail Away on 04.18.22 at 11:17 am

#84 Dharma Bum on 04.18.22 at 9:22 am

The long term solution to Canada’s salvation?

Becoming the 51st state.

———–

Ok, ok. I’ll accept the governorship of our new state. Twist my rubber arm.

90% of the population will immediately relocate to better climate, lower cost of living areas, so we might need to open up the homesteading thing again.

Expect some fairly sweeping changes. First up: a functional oil dividend fund.

#91 The effect in macroeconomics speak on 04.18.22 at 11:33 am

Speaking of price increases, as per one poll 31% of Canadians ‘aren’t making enough to cover basic expenses’. The article didn’t outline what was considered basic expenses & went on to say respondents were talking about monthly expenses & debt payments. Same poll confirmed that 49% of respondents are within $200 of not being able to cover their monthly costs. Wonder if those being polled were seniors?

#92 Maggie the Teck Writer on 04.18.22 at 12:25 pm

Patel #32

You say, “To be honest, our population is going to be reduced over this century due to conversions which are
sometimes forceful or due to economic bribes.”

In my view, the population of Hindus is likely to shrink because of the attitude to lower castes, women and tribal people. Why would anyone adhere to a religion that regards them as inferior?

I have been told by a native Christian minister (not a foreigner) that when a Hindu responds to the Christian message that all human beings are inherently of value by seeking to join his church, he is approached by the police who demand an explanation. He and some of his congregation were jailed for several months on trumped-up charges associated with conversions. His is a poor local church that has no capacity to bribe or threaten. It has nothing to offer but its message of fellowship and respect for all human beings, regardless of race, sex or economic status.

You cite a history of senior political figures of various religions who held high office. While this is true and admirable, how many hold such positions today?

Many countries have a state religion but don’t have mobs attacking those who espouse a different creed. Why don’t Hindu politicians and their supporters have confidence in the attractions of their religion? Could it be that Hinduism offers little for anyone not a Brahmin?

#93 Bob Hamilton on 04.18.22 at 12:27 pm

Semis took a hit, in 905

https://mobile.twitter.com/Tablesalt13/status/1515774079504195591?cxt=HHwWjoC9idKfjokqAAAA

#94 Dr V on 04.18.22 at 1:03 pm

80 Ponz

“Me thinks one of the main reasons why sole proprietors incorporate is so that they can put President & CEO on the business cards.”
———————————————-

Actually my corp is one of those “BC numbered companies”. The govt and the media now think I am a foreign money-laundering crime syndicate kingpin.

I can send someone by in a big dark SUV to explain it to
you…mwahaha…

#95 Barry on 04.18.22 at 1:06 pm

I’m dumbfounded by lifestyle choices of others. Gotta have a huge house, gotta have a tank of a car, gotta drive bumper to bumper to work – alone – with other single drivers – What’s wrong with transit people? Here’s my recipe – the bus/skytrain/metro is just fine … and quick in Vancouver. Live modestly – don’t indulge in “fine dining” – work in a restaurant and you’ll find out what really goes on in the kitchen! It put me off for life. We eat well at home … and your time is better spent learning how to make and eat nutritiously. And why the gym? Walking is the best exercise going – I walk at least 5 kms a day and feel great at nearly 70. Keeps my weight down too. As for investing – you don’t need an “advisor”. Do it yourself. I invest in dividend growth stocks – income keeps going up every year. This year by $5000 while sitting on me bum. And it’s tax efficient. You wouldn’t believe what I paid in taxes this year … hardly a cent. Max out that TFSA. Our income producers gift $20,000/ year income tax free if we need it. Wait for OAS and CPP until 70 if in good health. I did. And above all turn off the TV news and spend that quality time studying how to invest in good and bad times. Watching the news is a waste of time as you never get the full story. Instead create your own story.

#96 jess on 04.18.22 at 1:21 pm

“spirals”

Right-wing conspiracy outlet Infowars files for bankruptcy protection as founder Alex Jones

“Your reputation is amazing. I will not let you down,” Trump told Jones,

United States of Conspiracy
https://www.pbs.org/wgbh/frontline/article/alex-jones-and-donald-trump-how-the-candidate-echoed-the-conspiracy-theorist-on-the-campaign-trail/
What Conspiracy Theorist Alex Jones Said in the Lead Up to the Capitol Riot
============
Slave Bible From The 1800s Omitted Key Passages That Could Incite Rebellion

Gov. Ron DeSantis said that allowing critical race theory in schools would teach children that “the country is rotten and that our institutions are illegitimate.” According to the ban, instruction in schools must be “factual and objective.” It specifically prohibits “theories that distort historical events”

#97 Philco on 04.18.22 at 1:27 pm

#78 T Rex and the dinosaur clique on 04.17.22 at 11:24 pm
———–‘–
Theres tons of jobs here. A guy on the goon spoon shoveling snow was getting $40 hr. Lacking of trades guys they make dam good money. Get a trade!
My lovely wifes a Flip…been in Canada 40years and the gov gave them jack shit to come and build a life here. Lots of new Philippinos coming here all getting jobs contribuiting. Great workers lovely people their VERY generous and you here zero complaining from them.
Bunch of bloody cry babys out there. Its still the land of opportunity.
If you cant support yourself get a second job. Just go to Japan and see how long their work day is.

#98 Philco on 04.18.22 at 1:36 pm

#94 Dr V on 04.18.22 at 1:03 pm
80 Ponz

“Me thinks one of the main reasons why sole proprietors incorporate is so that they can put President & CEO on the business cards.”
———————————————-
Actually my corp is one of those “BC numbered companies”. The govt and the media now think I am a foreign money-laundering crime syndicate kingpin.

I can send someone by in a big dark SUV to explain it to
you…mwahaha…
——-
Yes they alowed money laundering. Now I had to had my lawyer $3000 so he can enter all my properties into the “LOTA”
Give me a F break.
MY BLOOD IS BOILING.
https://landtransparency.ca/

#99 Dr V on 04.18.22 at 3:15 pm

98 Philco

“Now I had to had my lawyer $3000 so he can enter all
my properties into the ‘LOTA’

Give me a F break.”
————————————————-

Me too but just 1 property. $400. When all the govt had
to do was enter the company name or number into the corp registry, push the summary button and our names
are right there. Coulda done it myself but it requires a “legal professional”.

#100 Philco on 04.18.22 at 7:03 pm

Unfortunately
The MAN hit me with a 50% charge for not reporting a Tslip. It was large they were wrong and they flipped me off.
They just audited one of my companies.
SQEEKY clean indeed. I pay a lot of taxes and on time but I have no respect anymore whatso ever. Its now an invisible war bro.