Don’t look

Is it over?

Some bulls think so. Tuesday’s plump advance on US stock markets reinforced a meme that’s gaining currency and should warm the cockles of every 60/40 non-cowboy investor.

Goes like this: bond yields may have hit the ceiling. There’s big resistance now with 10-year US Treasuries and Canada fivers. This means an inverted yield curve will happen as the CBs jack up short-term rates but Mr. Bond Market keeps long rates down because, well, any recession will be short.

As yields stall and corporate earnings remain above water, there’s less reason to desert stocks for bonds. The implications: long-term mortgage rates in Canada may be close to a peak, at least for now. The prime, HELOC and credit card costs will continue to rise. The panic low for stocks is behind us. No earnings downgrades. No upward pop in the jobless rate. And once again markets are leading indicators. They tanked early and hard. They’ll rally into recession in anticipation of recovery.

The doomers say phooey. Higher rates and inflation will cream consumers. Real estate will crumble. The Canadian economy will go with it. We’re all pickled in debt. Stocks, like bungalows, were force-fed by cheap CB money and will deflate just as consequentially. Crypto is a harbinger. This is the big one, and everybody should be stockpiling tuna.

Fear sells, which is why you see a lot more on social media about Armageddon than Redemption. For a whole gen of sub-40-year-olds, inflation and central bank tightening are unknowns. Scary. This seems like nuclear winter. All the major things people should aspire to – Bitcoin, semis, puppies, NFTs and Bored Ape pretend-real estate – are losing value. There’s even an ugly rumour more people will be forced back to their, shudder, workplaces. Avec pants. Yikes.

As you might imagine, I’m in the get-over-it camp. Despite problems like war, pandemic residue, Biden falling off his bike, Harry Styles, Drake’s ridiculous new album and what Kim did to that dress, we’re going to a better place. Market and housing excesses will be blown off. The economy will absorb its debt issues. Q2 earnings may well surprise to the upside. And maybe – just maybe – the bottom was last week.

However, timing the market is a mug’s game. You should not do it. The best strategy is to build a decent B&D portfolio, rebalance it when stuff gets out of whack, stay invested and never read anything Peter Schiff , Marc Faber or Harry Dent have written. You’ll live longer. And happier.

But as financial assets stabilize (if they do), real assets face a bigger challenge.

Short-term rates will continue to ascend. The Bank of Canada will add a honking 75 bips in two weeks. The impact on residential real estate, as this blog has detailed, has been outsized. Inflation may peak and the economy may slip into recovery, but central banks are not going to drop their rates again for a long, long, long time. The only scenario in which that happens is (if I’m totally wrong) we enter a brutish, vicious downturn and the CBs have to rescue us again. But that world would be tough on housing as unemployment spikes.

This brings us to Susan in Victoria, one of our most overvalued burgs.

“We are thankful to be watching from the sidelines as renters,” she writes, “and seeing some sanity return to the market.

“We tried to buy last spring when we were renovicted. But after being outbid several times we stepped away from the madness. Shaking our heads that we even considered following our realtor’s advice to put in unconditional offers. What kind of scenarios could develop for highly leveraged home owners, as interest rates continue to rise affecting their mortgage payments, yet the value of their property falls below the amount they owe?

“A lawyer for a bank in the big smoke said to me today they will be stuck, unable to sell. Forced into creative refinancing. He feels that there will not be a big sell-off for that reason. But could this mean bankruptcy for some?”

Smart lady. Buying unconditionally a few months ago would have been an emotionally draining and potentially costly experience. Real estate values that peaked in March may not achieve that level for years to come. Today there are more Victoria listings to choose from (up 30%), fewer buyers to compete with (down 27%) and conditional offers are again the norm. If a lender’s appraisal comes in light, you can even renegotiate the price lower after a firm offer is inked. Try it.

Many foolish buyers from March and early April are walking away from their deposits. They will regret that, and end up paying a significant amount of money without buying anything. Lose-lose. Homeowners under water will struggle to hang on and may survive until the next mortgage renewal. Defaults are uncommon in Canada. So are bankruptcies. This market unwinding will be long and uneven.

The advice here has never wavered: if you need a house and can afford one without gutting your personal or family finances, then buy one. Follow the Rule of 90 and you really won’t care about market cycles or what your neighbour’s place just sold for.

As for your financial portfolio, be equally insipid. The future favours the boring. Take that, Matt.

About the picture: “I’ve been reading your blog for years,” writes Della, “and really enjoy your take on things! This is my little rescue cat Lightning. Found in a chicken shed at about 2 weeks of age. Fed with an eye dropper until she could lap on her own. She pretty much rules everyone including her favourite dog, Shawnee, I have three Golden Retrievers. She is frequently found snuggled up keeping warm.”

Have a beast to share with the pack? send it along to “[email protected]” plus the story. – Garth

132 comments ↓

#1 Dave Willms on 06.21.22 at 2:56 pm

Hey Garth,

I did some research about yesterday’s topic and came across a number of articles that basically were saying that real estate was an integral asset class that really wealthy people invested in. For example, a snippet from this article…

Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks.

Hmmm… Got me wondering about my future strategy. I’m gonna do some more research before making a decision.

Are you ultra-wealthy? – Garth

#2 Facts Matter on 06.21.22 at 3:04 pm

Folks this is not rocket science. Always buy for the lowest price possible when the market is down and sell when prices are at the highest. Do that as the markets rise and fall and you will have a nice, paid off home faster than by buying at the top and selling for a lower price. Try it and see for yourselves.

#3 TurnerNation on 06.21.22 at 3:05 pm

Just for fun:

Life in Kanada. Part and parcel is dealing with out-of-control Leftism.
(And you just know they will cancel Canada Day…it’s coming. Part of the Demorlization Campaign in the Former First World Countries)

>>Score your Leftism severity today:
Resident of Kanada: add one point
Resident of BC, ON, QC: add two points
Member of a private sector union: add 3 points
Member of a public sector union: add 4 points:
Member of academia or a professor: add 5 points
Holding political office: add 6 points.

Do not add up your score! There is NO safe level of Leftism approved.

—-

—–

In unrelated news:

https://nypost.com/2022/06/20/canadian-professor-ripped-after-trying-to-mask-shame-flight-attendant-in-unhinged-twitter-rant/amp/?utm_source=reddit.com
“[Canadian] Professor ripped after trying to mask-shame flight attendant in unhinged Twitter rant”

https://tnc.news/2022/06/17/liberals-block-data-travel-restrictions/
The Liberals blocked a motion calling on Ottawa to provide all documents used to justify restricting travel for Canadians during the Covid-19 pandemic.
Liberal MP Churence Rogers cited cabinet confidentiality before shutting down the motion.

#4 Big Bucks on 06.21.22 at 3:07 pm

Like I predicted Bitcoin has made a nice little bounce since Saturday(almost 20%)Hoping or feeling Bitcoin goes to zero will see the Stock markets lose another 40-50% too.All this free money created a housing bubble,an equity bubble and Bitcoin—they’re all at the scene of the crime together.

#5 Prince Polo on 06.21.22 at 3:10 pm

Are you still going to ring a large Pavlovian bell at the bottom of real estate prices?

Ref https://www.greaterfool.ca/2022/06/19/wheels-up-2/

The winners, as always, will be those with liquid wealth and manageable or nil borrowings. They can buy low, poach distressed assets, vultch bargains and invest at crushed levels.
We’re not there quite yet. I’ll let you know.

#6 Rook on 06.21.22 at 3:15 pm

How does the rule of 90 work for those without a house?

Say somebody has $200,000 invested. That’s their net worth. If they’re 40, that means they should have no more than 50% of their net worth tied up in real estate, or $100,000.

Where can someone get a house for $100k that’s within 2 hours of anywhere?

Or am I missing something, there? Because a mortgage is needed, but that’s a liability, not an asset. So if they get a $400k mortgage, by my reckoning their net worth is -$200k?

Or does that mean if you have a net worth of $200k, the house should be no more than $400k?

#7 jess on 06.21.22 at 3:15 pm

exaggeration?

Fraser Institute’s ‘Tax Freedom Day’ Wildly Exaggerates the Tax Bill of the ‘Average Canadian Family’

The Fraser Institute’s misleading ‘Tax Freedom Day’ report overstates the typical Canadian family’s tax bill by tens of thousands of dollars
by Mitchell Thompson, Ontario Reporter
June 20, 2022
PressProgress is an award-winning non-profit news

#8 Brad on 06.21.22 at 3:17 pm

Looks like the cat is shielding the dog from watching a crypto commercial! Good job kitty! :)

#9 Faron on 06.21.22 at 3:20 pm

I’m a little surprised that there weren’t any comments on the antique outboard engine in the dog pic from a couple days ago.

I guessed Seagull, but looks like a 1940s era Canadian made Johnson. Probably saw a lot of use up north.

#10 Faron on 06.21.22 at 3:22 pm

#132 Old Boot on 06.21.22 at 2:28 pm

The ‘daughter’ is in reality a son. Kid has bigger problems than having Elon Musk for a sperm donor.

Kind of a trans-exclusionary radical feminist thing to say… no?

#11 Søren Angst on 06.21.22 at 3:30 pm

Tearing myself away from Google Finance watching my holdings in the GREEN with %’s going up like a Vegas one arm bandit screen, I take note from StatCan:

1. Job vacancies climbed to 957,500 in the first quarter, the highest quarterly number on RECORD.

2. Retail Trade up 0.9% in April from March.

The latter is an understatement. Retail Trade always goes up in April from March (Jan, Feb = low thanks to XMas excess bills paid).

Apples to Apples is year over year, Unadjusted, so no Seasonal Adjusting algo to muck the numbers up:

Apr 2021 = $55,725,607,000
Apr 2022 = $60,703,978,000

+8.93%

Surprisingly, April when Cdns emerging from their IGLOOS or ARKS, these 2 sub sectors went down, Mar to Apr:

1. Building material and garden equipment and supplies dealers, -4.3%
2. Furniture and home furnishings stores, -0.9%

Have Cdns have lost their appetite at pouring more cash into PRECIOUS (a.k.a., Cdn RE)?

Retail Trade represents 37% of GDP (Mar 2022).

———————

Jobs up. Sales up.

Smells like no recession so far.

——–

PS:

“This is the big one, and everybody should be stockpiling tuna.” – Garth

Lunenburg Canadesi 🙄

#12 crowdedelevatorfartz on 06.21.22 at 3:33 pm

@#10 Faron.
“Kind of a trans-exclusionary radical feminist thing to say… no?”
+++
Just a thought but.

I’m assuming Elon is cutting he/she/they off child support….. he /she/they might be looking for work…. so perhaps you could forward the Bow and Arrow Coffee Roast job application to the spawn of Musk?

#13 Doing my Part on 06.21.22 at 3:39 pm

Bitcoin, going to zero.
Unlike bitcoin, quality equities and real estate will not go to zero, they are backed by tangible assets.
Bitcoin is a ponzie based on the dreams of fast easy riches, easy come easy go, just don’t be holding when it goes to zero.

#14 crowdedelevatorfartz on 06.21.22 at 3:39 pm

@#95 Perturbed Ponzie
“Why do you post this here?”
+++
To annoy you with the truth.
It worked.

#15 Catlady on 06.21.22 at 3:41 pm

Hi Garth, as so many before us, I just wanted to say thanks ! Have been reading your blog for approximately 5 years, (I wish it was longer !) and we are doing fine, despite all the craziness going on ! I tried to do my duty as a blog dog, (cat ?) and told friends and family to lock in their mortgage 6+ months ago. None would listen…. It was the usual rhetoric; rates aren’t going up, you’re crazy, blah,blah,blah…. now we look like geniuses, lol ! “How did you know ??!!” they ask. That’s easy, I say, A dog told me…

#16 Bdwy on 06.21.22 at 3:47 pm

Old boot.132

Sensible take on it.

#17 Elon Fanboy on 06.21.22 at 3:49 pm

Jeeez what did Harry Styles do to pi*s you off?

Btw my claim to fame (at least to my daughter) is that Harry Styles grew up in the same UK village I did, and we went to the same High School. Although he hadn’t even been born when I was there, lol.

Still makes me pretty cool in my daughter’s eyes, lol.

#18 Andrewski on 06.21.22 at 3:49 pm

Speaking of Crypto:

https://bigthink.com/the-present/greater-fool-theory-cryptocurrency/

#19 Inequity on 06.21.22 at 3:50 pm

#10 Faron

No.

And weren’t you leaving.

#20 DJT on 06.21.22 at 3:51 pm

After making a fortune off BTC, I predict we will seen a bottom ~$12K before it takes off to $100k.

#21 Sail Away on 06.21.22 at 3:52 pm

#132 Old Boot on 06.21.22 at 2:28 pm

The ‘daughter’ is in reality a son. Kid has bigger problems than having Elon Musk for a sperm donor.

——-

Settle it with real, not woke, science. DNA test: male or female?

#22 Cars on 06.21.22 at 3:53 pm

#104 Satori on 06.21.22 at 10:35 am
#93 the Jaguar on 06.21.22 at 8:37 am
Why is this ‘Cars’ guy so worked up about VDubs? Is he fresh off the Oshawa line or just forgetting that on the road of life, there are passengers and there are drivers? Mercy.
————–
Me thinks he works at Toyota, and might be losing his job because the huge increase in sales for VDub. Just can’t stop people from loving german cars.

————–

You thinks? Let’s break down how badly you thinks.

First, assuming I work somewhere. Considering the posts, long ones too…shouldn’t you think my money is working for me instead?

Second, can’t lose what I don’t have.

Third,
Toyota sold 10.5m vehicles in 2021. 10%+ INCREASE over 2020. WOW. People sure appreciate reliability, value, dependability it turns out. Toyota workers of the world…your jobs are safe!

VW Group 8.88m vehicles sold in 2021, DOWN from 9.3m in 2020…EAT IT VW GROUP…seems not all consumers have forgotten. Oops…seems we need to make some job cuts to reflect shrinking sales.

Lastly, I guess YOU CAN stop people from loving German cars after all. Personally I aim to stop them from VW Group products based on Dieselgate and total disregard and contempt of their consumer public, but it turns out the poor reliability and dependability along with poor resale value and quickly aging designs are the better more effective argument.

Go ahead…tell me how it was because of chip shortages there Satori. Chip shortages that allowed Toyota to grow 10%.

#113 Mac Truck YYC

I guess you think you need a big heavy thing to be safe because you’re not aware of technologies that exist that could be applied to safety.

I guess you have not seen SMART crash tests to see what’s possible in such a small package.

I guess you’ve never seen an F1 car take a 20, 30 or 40G impact either.

Yeah, you keep thinking that all that mass is keeping you safe. Guess what happens to mass when you accelerate it? Guess what happens to that force when you hit a tree with your heavy truck that keeps you safe.

Forgive me picking on you, but ignorant simplistic statements like you made are just that.

Weight DOES NOT equal safety.
Light CAN be made safe, and certainly efficient.

#135 Mac Truck YYC

Additionally Mac Truck…I will say this.

You may think the size and weight of your truck is a safety feature for you.

However, as all things in life, it doesn’t come free.

That size and weight is actually a danger to others, as you’re rightly illustrating.

A well designed car, a light car, can withstand very strong forces.

And size and weight can easily increase the forces to you and others in an accident.

#106 Dr V

Dr V you got it!

I quote Colin Chapman who’s views back in the 60s are just as valid to F1 as they are to today’s cars.

“Simplify, then add lightness.”

#23 Mark Bourrie on 06.21.22 at 3:55 pm

They just took the Bitcoin machine out of my local grocery store.

#24 Old Boot on 06.21.22 at 3:59 pm

#10 Faron on 06.21.22 at 3:22 pm

#132 Old Boot on 06.21.22 at 2:28 pm

The ‘daughter’ is in reality a son. Kid has bigger problems than having Elon Musk for a sperm donor.

Kind of a trans-exclusionary radical feminist thing to say… no?

*******

Kind of a ‘lesbian who understands biology and that no one can change sex’ thing to say, actually. Just like sports governing bodies are being forced to acknowledge. TERFs rule.

#25 Captain Uppa on 06.21.22 at 3:59 pm

“…Drake’s ridiculous new album…”

How do you know, Garth? Hmmm….

#26 David on 06.21.22 at 4:04 pm

I’m more worried about a nuclear war breaking out than a recession. The bear bating going on in our media and halls of power makes this a real possibility.

#27 Scott in Gibson on 06.21.22 at 4:08 pm

No recovery until energy prices fall.

#28 Sunshowers on 06.21.22 at 4:11 pm

“We need 5 years of unemoyment above 5% to contain inflation.” -Former US Treasury Secretary Larry Summers

Do these psychopaths even realize what they’re saying? That’s something like 10 million people out of work, which would devastate millions of families and cause widespread misery.

Marxists spend a lot of time explaining how unemployment is central to the functioning of capitalism and it can never be eliminated as long as capitalism stands (google “Reserve Army of Labor”). But sometimes the ruling class just comes out and says it.

#29 Sunshowers on 06.21.22 at 4:15 pm

*unemployment.

Sorry, Larry!

#30 Søren Angst on 06.21.22 at 4:16 pm

#21 Sail Away

Sail Away:

“Shake not thy gory locks at me.”

Faron:

“Thou cream-faced loon”.

Sail Away:

“What, you egg. [Stabbing him]. Thou young fry of treachery.”

Faron:

“He has murthered me, mother. Run away, I pray you.”

—————–

Settling it with artistic license from Macbeth.

#31 Bitcoin Bro on 06.21.22 at 4:24 pm

I appreciate the level-headed, optimistic sentiment.

Perhaps a strange stagflationary recession won’t be all that bad in practice. Yes, life is going to be expensive for average folks. Consumers will be more frugal and eshew debt… not ideal for growth but also very much needed at the individual level. Also, the job market looks like it will favor job seekers for a long time.

Just how bad will inflation get is the real wild card. I think we all know by now that there is a serious disconnect between official inflation numbers and what things are like on the ground. This notion that inflation has peaked or is close to peaking seems to be serious wishful thinking when you read up on the doom and gloom prognostications re: food and fuel.

#32 WTF on 06.21.22 at 4:26 pm

#133 Cars on 06.21.22 at 2:40 pm
#127 Ponzius Pilatus on 06.21.22 at 2:04 pm

Gentlemen,

In a collision between a truck and a car, there is a lot of physics at work, but you don’t need to be a scientist to know the outcome. Although speed can play a major factor in any accident, an accident between two objects of such different sizes even at low speeds can be catastrophic for the car.

If you have been involved in an accident with a truck, you know about the potential damages and injuries that can occur.

No kid or family member of mine will be driving a TOY-o-ta-Tonka but if you so feel the need to save on gas and money before you consider your life… get yourself a moped for the road and don’t forget to pack a shovel for the grave.

#33 Steel City Kid on 06.21.22 at 4:30 pm

#30 Soren Angst for the win.

#34 Faron on 06.21.22 at 4:31 pm

#132 Old Boot on 06.21.22 at 2:28 pm
#16 Bdwy on 06.21.22 at 3:47 pm
#21 Sail Away on 06.21.22 at 3:52 pm

Well, the sex of Elon’s daughter nee son is immaterial for her real dislike for him that is severe enough to disown his name and possibly any inheritance that may come her way.

Regarding sex and gender, you guys are confused, but that is okay. I still love you. It’s pride month — a time when helping people sort out their sex/gender confusion is paramount.

Careful out there though. Trans-hating is a slippery slope that leads to violence against trans people. That is un-Canadian and unacceptable.

#35 Steve on 06.21.22 at 4:40 pm

Bear market will continue with financial assets. The fed is on a mission to quell demand in the hopes that they can bring down inflation. Recession is just starting. Impossible to call the bottom.

DCA back into the market at a set point and stay away from bonds. Inflation will be sticky and when you have debt/gdp at over 120% the only way to bring that down is by increasing the denominator. Easiest way to grow GDP and tax revenues = inflate.

CPI will be ‘normalized’ at 5%, 10 year will be pegged to 3.5% and inflating the debt away is the only path forward. Which should be good for markets and bitcoin. Those without assets will be hammered again through their purchasing power.

#36 Eric on 06.21.22 at 4:43 pm

#26 David

If a modern full on nuclear war breaks out, the last thing you need to worry about is recession.

#37 Fact Checker Fred on 06.21.22 at 4:46 pm

They say that even a broken clock is right two times a day. Peter Schiff has only been right once his entire life. I concur with Garth, don’t listen to him.

#38 Faron on 06.21.22 at 4:48 pm

#24 Old Boot on 06.21.22 at 3:59 pm

#10 Faron on 06.21.22 at 3:22 pm

#132 Old Boot on 06.21.22 at 2:28 pm

…can change sex

I wasn’t talking about sex.

#39 Reddy on 06.21.22 at 4:54 pm

At 28 sunshowers, just thought I’d jump in. In undergrad courses, we were taught 7 percent unemployment was ideal and considered to be ‘full employment’. The reasons we were told were, some people our voluntarily not working, on alternative payments, some are retired, some have stopped work temporarily with the intent of finding work in the future, and my understanding is is that the unemployment numbers take all of this in a consideration. The bottom line is some people just don’t want to work- and the amount of people that don’t want to work is about 7%, :-)

#40 DER on 06.21.22 at 4:55 pm

Garth, you mention that Victoria listings are up and the number of sales are down and you are correct. However, close examination of the 32 most recent sales does not result in the conclusion that we are in for a quick, deep fall off in prices.
So far, what is clear is how little impact the rise in interest rates has had in the more southern neighbourhoods of Victoria. Of the 32 most recent sales 22 were at the list price , 6 were discounted an average of 5% but 4 went over ask by an average of 6%.
I was a realtor for 30 years (now retired) and went through the 81-86 debacle and the 89 to 96 “adjustment” so I am expecting a fallback in prices here as well BUT the interesting thing so far has been fewer listings than I would have expected to see, listings taken off market if they don’t sell quickly and a general reluctance on the part of Sellers in these “premium” neighbourhoods to reduce much.
The reason is never simple but I suspect a few things are at play: Fewer, less expensive options for sellers to go into in these built out neighbourhoods where they would like to remain, more owners who own their property mortgage free and many owners treating their homes like a long term stock market hold. Like you have often said if your B&D portfolio is down just ignore and hold for the long term.
In any event, I will continue to follow what is happening with interest and report what I see.

#41 Reddy on 06.21.22 at 4:56 pm

So it’s not ten mil people out of work, it’s 10 mil people who don’t want to work…. :)

#42 Omicron Kenobi on 06.21.22 at 5:06 pm

Garth, Garth, Garth……

Have you not a clue about what I and Monkeypox have in store for the economy next?

Stay tuned……….

#43 jess on 06.21.22 at 5:16 pm

good questions State Street Digital Solutions,
https://www.statestreet.com/solutions/by-capability/digital-solutions.html
https://wallstreetonparade.com/2022/06/has-crypto-endangered-federally-insured-big-banks-ask-state-street/

#44 Bezengy on 06.21.22 at 5:26 pm

#Faron on 06.21.22 at 3:20 pm
I’m a little surprised that there weren’t any comments on the antique outboard engine in the dog pic from a couple days ago.

I guessed Seagull, but looks like a 1940s era Canadian made Johnson. Probably saw a lot of use up north.

————————-

Me too…I still have mine. 22 1/2 Hp Johnson, although the one in the pic could be a smaller version. FIL told me to test these things they would run them full blast for 24 hours. Probably BS but who knows. Wifey tells me I should clean out the barn. I already have and the engine is stayin.

#45 DavidW2 on 06.21.22 at 5:29 pm

Hi Garth and team,

Long time reader and subscriber to living a balanced life based on your wisdom. Recently I have been seeing more regarding passive income investing and it seems to offer comparable returns to 60/40 and nice cashflow. Could you put a lense on this investing strategy vs the traditional 60/40. Thanks and cheers

#46 Faron on 06.21.22 at 5:29 pm

#136 jess on 06.21.22 at 3:23 pm

old boot: this might broaden your view

https://gem.cbc.ca/media/sports-on-fire/s01e06?cmp=GEM_cbc.ca_homepage_shelfnew

Thanks Jess. Fantastic documentary, but I doubt the fact-impervious here will be moved.

#47 DJT on 06.21.22 at 5:30 pm

#23 Mark Bourrie on 06.21.22 at 3:55 pm
They just took the Bitcoin machine out of my local grocery store.

-Yes, those BTC ATMs are a magnet for stolen credit cards.

#48 physicist on 06.21.22 at 5:30 pm

Which one of you fellows posted the beloved “Rule of 90” on Reddit for critique??????? Be honest now….#6 I suppose….

https://www.reddit.com/r/PersonalFinanceCanada/comments/vhld2i/how_does_the_rule_of_90_work_for_those_not_on_the/

#49 Penny Henny on 06.21.22 at 5:32 pm

You wrote this ‘There’s even an ugly rumour more people will be forced back to their, shudder, workplaces.’

I read this ‘There’s even a rumour more ugly people will be forced back to their, shudder, workplaces.’

Either way glad I am retired.

#50 Faron on 06.21.22 at 5:37 pm

#136 jess on 06.21.22 at 3:23 pm

old boot: this might broaden your view

https://gem.cbc.ca/media/sports-on-fire/s01e06?cmp=GEM_cbc.ca_homepage_shelfnew

In fact, it’s pretty disgusting that to old boot and Sail Away and Bdwy and presumably others, the fact that Elon’s daughter is trans should exclude her from having an opinion about her own father. SMDH.

Sorry Garth, I know this isn’t the purpose of your blog’s discussion section, so I’ll leave it at that.

#51 jess on 06.21.22 at 5:43 pm

stereotypes: fast cars and what is perceived as beautiful messaging with race cars e.g. le mans winning driver Hurley.

https://medlineplus.gov/genetics/condition/swyer-syndrome/

But there are girls and women who have XY chromosomes. This can happen, for example, when a girl has androgen insensitivity syndrome. And there are boys and men who have XX chromosomes. This can happen, for example, when a gene on the Y chromosome ends up on an X chromosome, causing that X chromosome to function more like a Y.

There are genes on chromosomes other than the X or Y that also contribute to sex development. Because of all this, the term “sex chromosomes” is really something of a misnomer. Just looking at whether a person has XX or XY (or some other variation) won’t tell you conclusively about that person’s sex development, and it certainly won’t tell you about that person’s gender identity.

https://sitn.hms.harvard.edu/flash/2016/im-xy-know-sex-determination-systems-101/

#52 Pbrasseur on 06.21.22 at 5:46 pm

US is a refuge in case of crisis, you should not be surprised to see USD and even their stock market do better, while the SHTF in the rest of the world, including China and Europe.

And this is not over until inflation recedes, no indication of that now, not even close.

As for Canada, a textbook basket case, the moment of reckoning is getting closer.

#53 Inflation Time on 06.21.22 at 5:46 pm

Hi Garth, don’t know if you have listened to the Sohn Investment Conference with Stanley Drukenmiller, but he sees a recession in 2023 and does not think it will be a soft landing, he’s says he’s not buying anything now and waiting for a “fat pitch” . I mean this can’t be the low with all the money printing and crazy bubbles in everything, central TO housing prices have barely moved, houses basically have to correct at least 30-40% in Toronto to even make some sort of dent for younger people. The stock market I still think another 10-20% down is the bottom.

#54 Faron on 06.21.22 at 5:58 pm

#44 Bezengy on 06.21.22 at 5:26 pm

#Faron on 06.21.22 at 3:20 pm
I’m a little surprised that there weren’t any comments on the antique outboard engine in the dog pic from a couple days ago.

I guessed Seagull, but looks like a 1940s era Canadian made Johnson. Probably saw a lot of use up north.

————————-

Me too…I still have mine. 22 1/2 Hp Johnson, although the one in the pic could be a smaller version. FIL told me to test these things they would run them full blast for 24 hours. Probably BS but who knows. Wifey tells me I should clean out the barn. I already have and the engine is stayin.

Hah, cool. My googling around pointed to that engine being an OK-15. ~8 horse. Here:

http://www.mlaoc.ca/uploads/1/0/5/9/10597650/johnson_ok_series_-_part_3.pdf

#55 Cars on 06.21.22 at 6:06 pm

#32 WTF

Define “truck” please.

Pick up or 18 wheeler?

#56 Pricedoutmillenial on 06.21.22 at 6:10 pm

Garth – You are leaving out crucial details. Which Kim dress?

#57 G on 06.21.22 at 6:11 pm

I spent a few months in Victoria a while back. At least it has a lot going for it: Best weather in Canada (Vancouver temps without the rain), Close to the ocean and mountains. At least it somewhat deserves a high price tag as opposed to all the other over valued cities in Canada.

#58 Linda on 06.21.22 at 6:11 pm

Funny how when the advice is to NOT try to ‘time the markets’ a number of commenters promptly talk about doing just that. I’m not sure whether it is FOOP in action or whether it is the desire to get bragging rights by scoring the ‘best’ deal possible. Either way, I’d expect those that talk will not engage in action, hence will miss the opportunity altogether.

#59 F’s self-discovery on 06.21.22 at 6:18 pm

#34 Faron on 06.21.22 at 4:31 pm

It’s pride month — a time when helping people sort out their sex/gender confusion is paramount.

########################

And how is your own process going?

We’re all pulling for you buddy.

#60 Shawn on 06.21.22 at 6:23 pm

Passive Income Investing?

#45 DavidW2 on 06.21.22 at 5:29 pm
Hi Garth and team,

Long time reader and subscriber to living a balanced life based on your wisdom. Recently I have been seeing more regarding passive income investing and it seems to offer comparable returns to 60/40 and nice cashflow. Could you put a lense on this investing strategy vs the traditional 60/40. Thanks and cheers.

********************************
I wonder what you are talking about. Passive income investing is not really a defined term. What would it be invested in? Bonds, dividend shares? what?

I suspect you heard that term in an advertisement from some investment outfit. “Give us your money and you won’t have to worry about it anymore.”

I think it’s pretty obvious Garth has nothing to go on to answer your question.

In addition, asking Garth who 100% espouses his own brand of ETF investing and asset allocation to confirm another approach is good is like asking any business to confirm their competitor is also good. Why would they do that even if they did think highly of a competitor? Which Garth never ever does in any case.

#61 Stone on 06.21.22 at 6:37 pm

#45 DavidW2 on 06.21.22 at 5:29 pm
Hi Garth and team,

Long time reader and subscriber to living a balanced life based on your wisdom. Recently I have been seeing more regarding passive income investing and it seems to offer comparable returns to 60/40 and nice cashflow. Could you put a lense on this investing strategy vs the traditional 60/40. Thanks and cheers

———

Garth and team advocate having a B&D portfolio. Why would they advocate something else? Also, calling something passive income investing is pretty general and vague. What does that even mean?

#62 espressobob on 06.21.22 at 6:44 pm

Equity markets on the rise or a classic bull trap. Problem is no-one has a crystal ball. Downside provides more safety for those loading up on bargains but foresight is really tough to predict.

I maintain core positions and never waver. Take the dividend distributions monthly/ quarterly and wait for opportunity when the herd panics.

Downside can be an investors best friend.

#63 Cars on 06.21.22 at 6:44 pm

Driving.ca

It seems like a quaint thought from a bygone age: an old advertisement listing the attributes of the AMC Gremlin and one of them is weight. “Weighs more than other small cars,” chirps the cheerful copy. In the back of what would prove to be the poster car for automotive humdrum, a kid plays with a baseball glove, and a golden retriever pants in the trunk. A picture of safe, family life, 1970s-style.

We now know that the Gremlin was pretty mediocre. We also know that mass isn’t a selling feature; it is far more likely for any modern commercial to trumpet the weight savings found in the use of composite materials. Save weight, save gas, improve handling. But here’s the thing – what if those old copywriters were right? What if heavier is actually safer?

Pull up the website for the Insurance Institute for Highway Safety (IIHS), and you’ll find the usual vehicle safety ratings and other consumer advice. But dig a little deeper and you’ll find some troubling information on vehicle weight and fatalities. The question is asked: “Are people less likely to be killed or injured in a bigger, heavier vehicle?” The answer? A simple yes.

However, there’s more to it than just David versus Goliath. The IIHS also published a study in 2011 that seemed to indicate heavier equalled safer for vehicles that were similar in size. A hybrid version of a Toyota Camry, for instance, is about 10 per cent heavier than its pure gasoline version, but has roughly the same safety features; according to the study, your odds of sustaining an injury in a crash were 25 per cent less in the hybrid version over its standard crossover and sedan counterparts.

So, should we all run to Home Depot and fill our trunks with bags of cement? Well, not quite. Like all statistics, there’s enough going on here that sifting through the data will take a little more work.

First, the obvious. A bigger vehicle means the accident is happening farther from the passenger compartment. It means longer crumple zones to absorb energy, and potentially more metal in the cage surrounding you. A taller vehicle means a higher beltline as well, and according to the IIHS’s studies, based on vehicle size, the number of fatalities per million is fewer the larger your vehicle’s footprint gets.

It should, however, be noted that the gap gets narrower as vehicle age decreases. In the late 1970s, there was a huge gulf between a big car and a small one in terms of lethality; with a modern car, size seems to make less of a difference, due to the development of crumple zones and the use of high-strength materials, underlining how important vehicle design is in reducing injury in the event of a crash. It’s not just the amount of steel in the car, it’s the way it’s laid out.

Let’s look at a collision between a pickup truck and a midsize car. The two top-selling passenger vehicles in the Canadian market are the Ford F-150 and the Honda Civic; given that both cars are Top Safety Picks from the IIHS, which one is safest?

A decade or more ago, it wouldn’t be the mass difference between the two vehicles that would inform the outcome, but something safety researchers call “aggressivity.” Put simply, in a collision between a high-riding truck or SUV and a normal-height car, the truck’s frame rails could act like the tines of a forklift, or the truck could simply override the car, missing the impact areas and hitting the greenhouse.

But these days a normal-height pickup must conform to safety regulations, and thus is less damaging to vehicles it hits. Always assuming, of course, that some urban cowboy hasn’t jacked up the thing on a set of 33-inchers and bolted on a Baja-style steel bumper.

However, the smaller car is at a disadvantage in several ways. First, as it’s lighter, it’s entirely possible for the smaller passenger car to be pushed into traffic, suffering a second collision. Second, common-sense conclusions around vehicle footprint still apply: If you rear-end a pickup truck with something Toyota Corolla-sized, you’ll likely not get past the bed.

But then there are arguments to be made that the smaller car might have avoided the accident in the first place; greater agility is one factor, but so is the spreading availability of collision-avoidance and mitigation systems. Automatic braking might not help you avoid being rear-ended, but systems to lock up the brakes of a car once a collision has been detected might keep you out of the oncoming lane.

Further, to go back to what the IIHS study on hybrid accidents showed, it’s perhaps not so much about the weight of the cars involved as the way in which they’re driven. Chances are, the person who pays the premium for the hybrid Camry instead of plumping for the 268-horsepower V6 just might drive a little slower.

All things being equal, the larger, heavier car seems to be the safest option – but all things are hardly ever equal. We can still, however, extrapolate a few lessons from the results.

Like fuel economy ratings, crash-test results aren’t a perfect read of what might happen in the real world, but they do provide a general guideline. A car that gets high safety ratings in crash testing is probably safer than one that gets only an average rating, even if the latter is heavier and larger. And with low fuel prices adding to an already swelling truck market, the safe-feeling high seating position of a crossover might not just be a placebo; if you’re at the same level as a lifted truck, you’re probably safer.

Ultimately, we could all probably stand to slow down a little bit, especially when coming up to an intersection, or when visibility is limited. The difference between an impact at 100 km/h and at 130 km/h is significant – not to mention that you have a better chance of avoiding a crash in the first place if you slow down.

The summation is a bit of a rock-paper-scissors affair; design trumps weight, but size still matters, as does speed. No matter what you drive, it’s a game you don’t want to lose.

#64 Philco on 06.21.22 at 6:48 pm

Sorry im not keeping up. Super busy.
Nice kitty!

#73 Ponzius Pilatus on 06.20.22 at 10:57 pm
#59 Dr V on 06.20.22 at 9:01 pm
47 Philco

“True story below. We are doomed with the leftist.”
————————————————————–

Hi Philco. I’ve posted a link to this site before. In Canada, fossil fuels account for almost 80% of all energy by end use demand.

https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/provincial-territorial-energy-profiles/provincial-territorial-energy-profiles-canada.html

People just do not realize the effects here. Virtually everything we use or consume has a great deal of fossil fuels baked in.
——————
I think most people know that.
Only the forward thinking ones know that it has to change.
————-‘—-
It certainly doesnt happen over night. More like many decades and it will. By inovators not your clueless leaders raming down your throats… It dont help with the plantets population looking towards for 10 billion!!! That was well managed!?
Also the corruption factor.
Like the petrol chemical companies sueing the govs to keep their plastic rolling that fills the land fills, our oceans, our creatures and then us. Now thats a crisses that that needs adressing yesteryear and that my friends is doeable in short order. Right Mr Box Water Bottle!

And thanks Dr V!

#65 Pricedoutmillenial on 06.21.22 at 6:49 pm

#60 Shawn

Garth must be doing a not soo good job of promotion as I haven’t seen any such posts in many many years of being a blog dawg. may be I missed those posts. I come here for the free financial education and always grateful for the content that is impartial and no BS.

#66 The Regulator on 06.21.22 at 6:49 pm

Looking at the numbers, this here should be called The Greater Faron blog.

#67 crowdedelevatorfartz on 06.21.22 at 6:51 pm

@#49 Penny Henny
” ‘There’s even a rumour more ugly people will be forced back to their, shudder, workplaces.”
+++
Doesn’t matter how ugly you are if you’re rich.
Aristotle Onassis was proof of that.

https://www.google.com/search?rlz=1C1OCLT_enCA758CA758&q=How+much+money+did+Aristotle+Onassis+leave+Jackie+Kennedy%3F&sa=X&ved=2ahUKEwi4hJrE0L_4AhX9D0QIHRULCQ0Qzmd6BAgkEAU&biw=1156&bih=607&dpr=1

#68 Ponnaps on 06.21.22 at 6:52 pm

Garth , why not create your own ETF with a 60/40 BD portfolio of the very same ETFs that you are currently running with.. hire someone to write up algorithms to rebalance, re-adjust weighting etc

#69 crowdedelevatorfartz on 06.21.22 at 7:01 pm

@#55 Cars
“Define “truck” please.
Pick up or 18 wheeler?
+++
Silly argument.
Both…or neither.
If you drive one of these trucks.

https://www.youtube.com/watch?v=gHkDPOS1XTo

#70 1255 on 06.21.22 at 7:16 pm

What dip in housing prices? They are still higher than pre-COVID levels!

#71 Flop… on 06.21.22 at 7:32 pm

Mr Flop Snr is still alive apparently.

My brother flew up for The Last Supper, as Mum, Dad and bro were given special permission to leave palliative care for what was supposed to be the last meal together.

Dads bloodwork has supposedly improved a little bit, his spine, skull and blood is riddled with cancer but I’m glad he’s fighting a day at a time as he assured me all things considered that he’s not suffering physically as much as mentally.

That’s probably the thing that pissed me off the most, when I opened the letter after his cancer diagnosis back in 2018, his seeming acceptance of his fate.

I wanted him to fight, probably like a lot of guys on here, my Dad was the toughest person I knew, when working in his early 20’s as a wood machinist, he cut off 3 and a half of his fingers, never to be reattached and work a manual labour job until he retired.

He never drove a vehicle, but taught me to drive.

He never played golf, football or cricket, but taught me how to.

Just because he was unable to do certain things, he never let me miss out on some skills in life that might be beneficial down the line, and for that I’m grateful.

Mrs Flop, for example, cannot ride a bike, drive a car, or swim, she attributes that to growing up in a house where weekends were spent cleaning the house and then going to the mall.

Didn’t have to worry about losing my Dad on the Hallmark Holiday of Father’s Day, as it is celebrated in September in Australia.

Apparently he wants to talk to me again, I don’t know how many times I can put us both through that, but then I think about something I want to discuss with him and he’ll be gone, ashes to ashes.

How will I accept my fate when it’s my turn to go? I’m in no position to judge anyone.

They say laughter is the best medicine, apparently catching up with family members you thought had abandoned you can work wonders too…

M48BC

#72 Ohm on 06.21.22 at 7:44 pm

Meanwhile in Alberta. https://www.cbc.ca/news/canada/calgary/alberta-housing-starts-1.6496437

Sh8t; here we go again!!

Been a life long Albertan. Do not like this news for the fact that I have been through it/this so many times. Moderation is the best not boom to bust cycles.

Like I most we wish to see a strong Canada. An energy corridor from West to East. Canadians supplying each other with energy. Whether it being B.C.,Quebec, Ontario, Manitoba along with NFLD and New Brunswick tying in there Hydro to support the rest of us and the rest of the country staying warm and filling there tanks with AB, Sask, NFLD oil and gas.

Wow that was quite a dream I had and then unfortunately woke up.

It is truly my desire to see Canadians all working together.

Alternative energy in coming on strong; especially in AB but it takes time for such a cold climate.

Have a good evening dawgs!

#73 Ponzius Pilatus on 06.21.22 at 8:17 pm

#124 Faron on 06.21.22 at 1:59 pm
#107 Ponzius Pilatus on 06.21.22 at 11:02 am

#97 Stan from Canmore on 06.21.22 at 9:20 am

Agree with you.
The only solution is driving less, getting smaller cars and using public transport.

Yep, car culture must die where possible. More than 80% of Canadians live in urban areas. Unless they have commercial needs, they should be well-served enough by transit to not need a car. Right now, that isn’t the case in most places. Capital needs to go there.
—————-
Yes.
Capital needs to go there.
Instead of to a bridge that only begets more traffic.
6 Billion buys a lot of buses and streetcars and subway trains.
And think of all the permanent life sustaining jobs it would create.
It’s coming.

#74 Oldboot on 06.21.22 at 8:20 pm

#46 Faron on 06.21.22 at 5:29 pm

#136 jess on 06.21.22 at 3:23 pm

old boot: this might broaden your view

https://gem.cbc.ca/media/sports-on-fire/s01e06?cmp=GEM_cbc.ca_homepage_shelfnew

Thanks Jess. Fantastic documentary, but I doubt the fact-impervious here will be moved.

******

The facts are as follows:

-Gender identities don’t play sports, bodies do.

-Women’s sports aren’t a backup plan for failed male athletes.

-Male puberty confers physical advantages over females that aren’t erased by testosterone suppression. Bigger heart, bigger lungs, longer limbs, favorable hip/femur angle, more fast twitch fibres, denser bones, and they don’t have to train around hormonal fluctuations, pregnancy, endometriosis, etc like women do.

-Women aren’t men with low T. Female athletes have only had their own sports and separate sex category for about 50 years, and still haven’t achieved parity in pay, coaching, or opportunity.

– ~95%of men who think they’re women are heterosexual, and exhibit transvestic fetishism. They almost never have any surgery. They don’t belong in women’s spaces or sports.

https://www.dw.com/en/fact-check-do-trans-athletes-have-an-advantage-in-elite-sport/a-58583988

“Do trans women have an advantage when competing in elite sports?

Without hormone therapy — yes. But even with hormone therapy, current research suggests trans women still maintain an edge in strength.  

Pretty much any way you slice it, trans women are going to have strength advantages even after hormone therapy. I just don’t see that as anything else but factual, said Joanna Harper, a medical physicist at Britain’s Loughborough University.” 

#75 Left GTA on 06.21.22 at 8:21 pm

I am looking forward to my 60/40 portfolio bouncing back. What I see in the tri city area is about a month ago a bunch of listing hit realtor.ca. Every day lots of new homes listed. The prices were listed for about $100,000- $200,000 less than the month of April. This week there seems to be a lot less listings. Detached houses this month have sold for almost $300,000 less than the February high. Crazy. But it was crazy to see homes that sold for over 1.2 million in Feb that were selling for $550,000 in 2018.

#76 crowdedelevatorfartz on 06.21.22 at 8:23 pm

@#71 Floppie
Looks like Floppie had a birthday.
m48bc.

#77 tbone on 06.21.22 at 8:28 pm

Mr Cars ,

So , what kind of car do you drive ?

#78 Ustabe on 06.21.22 at 8:33 pm

#72 Ohm on 06.21.22 at 7:44 pm

Me too, Ohm, me too.

If we spent half the time on informing the Conservative Party of Canada that they must get off the pot or poop as we do slagging one other for the type of cars they prefer, maybe we’d someday end up with a Leader, not a professional politician kowtowing to the lowest common denominator.

#79 Greg on 06.21.22 at 8:54 pm

We have people saying nuclear war, for the sole reason when the power comes back on, they can post “I called it” comments on the forums.

#80 Satori on 06.21.22 at 8:56 pm

#3 TurnerNation on 06.21.22 at 3:05 pm

Thanks again for always updating us! Love your current news posts!

#81 WTF on 06.21.22 at 9:04 pm

#55 Cars

“Define “truck” please. Pick up or 18 wheeler?”
—————————————————————–Cars. Accidently hit submit.

No idea: Copied it from The Mac YYC Mensa candidate from Calgary.(06.21.22 at 3:16 pm)Enlightening in its sad predictability and overbearing nonsense.

Dear Mac YYC, Please don’t visit BC, the roads aren’t straight, there are hills. AB drivers horrify us.

BTW: Aside from your beloved collisions, Toyota Trucks perform best in rollover situations as opposed to whatever you own for your destruction of others. Yeee Haw!

#82 Samson on 06.21.22 at 9:04 pm

#22 Cars on 06.21.22 at 3:53 pm
#104 Satori on 06.21.22 at 10:35 am
#93 the Jaguar on 06.21.22 at 8:37 am
Why is this ‘Cars’ guy so worked up about VDubs? Is he fresh off the Oshawa line or just forgetting that on the road of life, there are passengers and there are drivers? Mercy.
———————-
Hey Cars… your daughter is riding wit me in my VDUB!! She wants to git one! LOL!!! Hilarious!!!!

#83 Victor Llearna on 06.21.22 at 9:09 pm

Victor Learn new word again today ‘insipid’.
Toronto is an insipid city. CBC content is both biased and insipid.

#84 Tom from Mississauga on 06.21.22 at 9:19 pm

Tomorrow’s inflation # including automotive, really ugly. Spark plugs, oil filter, coils, muffler. All ICE replacement parts are a fortune now. Up 60-80%. No manufacturer will invest a dime into making them. Fixing my Corolla was ridiculous.

#85 Flop… on 06.21.22 at 9:32 pm

#76 crowdedelevatorfartz on 06.21.22 at 8:23 pm
@#71 Floppie
Looks like Floppie had a birthday.
m48bc.

Hey Uncle Crowdie.

Let’s see if you like this poem I thought up the other day about aging.

——————————————————————-

The memories get softer.

Your stool gets harder.

When you bump into people at the supermarket, you no longer say beg my pardon…

M48BC

#86 Ponzius Pilatus on 06.21.22 at 9:39 pm

This is just my observation from this Father’s Day weekend.
Went out, did some shopping in a mall.
No parking spaces left.
Went for Lunch in semi-fancy restaurant.
Even with reservation, 45 minute wait.
Just insane.
Looks like the “Roaring Twenties” are still in full swing.
At least here in the Lower Rainland.

#87 the Jaguar on 06.21.22 at 9:40 pm

@#74 Oldboot on 06.21.22 at 8:20 pm

– ~95%of men who think they’re women are heterosexual, and exhibit transvestic fetishism. They almost never have any surgery. They don’t belong in women’s spaces or sports. +++

So…Old Boot. If 95% are heterosexual, it would follow that they are attracted to women, correct?
But since the majority of cis gender women would be attracted to cis gender men, then who are their potential romantic partners? And can you explain what you mean by ‘women’s spaces’ aside of the usual debate around bathroom facilities? Are we talking quilting bees or….?

I got tested for Cis, but I was off the Cis Richter scale. It was like a magnitude 8.7 earthquake. I guess somebody leaked the number of past liasons I’ve had.

Oh well….I don’t want to go to my grave feeling I’ve missed any opportunities…sigh…

#88 Faron on 06.21.22 at 9:44 pm

#74 Oldboot on 06.21.22 at 8:20 pm

Uh, the docu wasn’t about trans athletes.

Good rant. I agree with the physiological facts you state. Disagree with the psychological.

But, again, this is about Elon’s garbage and now about how you appear to see trans people as not meriting a voice. Gross IMO.

#89 conan on 06.21.22 at 9:44 pm

Nice to see some optimism from the buy and hold people.
I am guessing here, but I think rising interest rates are going to go through certain parts of the economy like a wrecking ball.

#90 The Original Jake on 06.21.22 at 9:45 pm

Hope you are right Garth. I’m hearing today was just a bear market rally. Nothing good when oil is ramping higher again.

#91 Flop… on 06.21.22 at 9:51 pm

I drove by Brown Brothers Ford, and thought hey I married a brown person do you think they’ll give me a deal?

The one that caught my eye was a Lincoln Aviator.

I knew my Uncle Garth would not sign off on the purchase, so I didn’t even set foot on the lot.

Looked online when I got home, it’s 90 fricken thousand.

Gut my TFSA to drive around in a vehicle like that, seems nice but I can’t justify that yet.

The rule of 90, is that if you’ve got 90k, don’t spend it all on one vehicle.

Delayed gratification it will have to be, and perhaps 10 or 15 years to memorize the owners manual.

I haven’t even had a vehicle built past 1990 yet, I wouldn’t be able to operate that rocket ship…

M48BC

#92 Satori on 06.21.22 at 10:03 pm

#71 Flop… on 06.21.22 at 7:32 pm
Mr Flop Snr is still alive apparently.
—————————
Flop they don’t make them like they use to, my dad was amazing, falling trees, worked hard, built houses, became a electrician/plumber/building inspector so he could build a house alone, providing for his family, could fix anything, learn anything, do anything.

I am grateful that I had ten years of love, and not resentment before he passed. Got to a point where I forgave my dad, for all the unimportant things.

When dad died, a tenant who know my pops, posted a face book thing, talking about how he was a genius. That really made things real. I would give anything to have him back, it’s been two years and I still miss his guidance, voice, laugh and advice.

You got this GOLDEN time… I think you are so lucky, he’s clear, and wants to share with you.

My dad got five minutes of clarity from his bone marrow cancer, which put a lot of calcium in his blood from bones that were popping like popcorn… he asked me to let him go, no kemo, no plugs… his final request released me from the burden of choosing. Even now… I still miss him and I am grateful I did not have to choose.

Do whatever it takes to ensure your pops is free. That is all I can say. _/\_

#93 The Regulator on 06.21.22 at 10:08 pm

# 81 – Wtf : Mabey ex B.C. residents with Alberta plates are responsible? Signed : Born and bred Albertan. The Horror, the Horror!

#94 Mac Truck YYC on 06.21.22 at 10:22 pm

#81 WTF on 06.21.22 at 9:04 pm
#55 Cars
No idea: Copied it from The Mac YYC Mensa candidate from Calgary.(06.21.22 at 3:16 pm)Enlightening in its sad predictability and overbearing nonsense.

Dear Mac YYC, Please don’t visit BC, the roads aren’t straight, there are hills. AB drivers horrify us.
———-
Please, with own two vacation homes in BC, the roads are fine… have ya been to Alberta little lady? We actually know how to drive em, BC roads are taught in kindergarten in these parts.

#95 Cars on 06.21.22 at 10:32 pm

#82 Samson on 06.21.22 at 9:04 pm

———————-
Hey Cars… your daughter is riding wit me in my VDUB!! She wants to git one! LOL!!! Hilarious!!!!

———————-

This is all you can come up with Samson?

———————-

#77 tbone on 06.21.22 at 8:28 pm
Mr Cars ,

So , what kind of car do you drive ?

>>>
I’ve got to walking as much as possible and transit.

Beside that…my ride right now is Litespeed Ultimate Titanium with Ultra. Was going to DA it, but in the end it was pointless.

#96 Quintilian on 06.21.22 at 10:32 pm

Garth: just a bit too celebratory and a bit too early for the victory lap.

Too many unknowns, and it’s usually the unknowns that’s sideswipes and causes the most damage.

For one thing nobody really knows how the crypto fraud will unfold.
Or if it turns out that it actually a currency with real value, as it crashes and burns to zero, what will the net effect of that wealth destruction fall out be?

Crying Crocodile Tears.

#97 T Rex and the dinosaur clique on 06.21.22 at 10:33 pm

Is it over?

Some bulls think so. Tuesday’s plump advance on US stock markets reinforced a meme that’s gaining currency and should warm the cockles of every 60/40 non-cowboy investor.

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

Euro zone is about to have another currency crisis.

Can’t print their way out of this one, printing presses already been shut down by regulation (you’ll hear a lot about this in the coming weeks).

They financed their ENTIRE deficit spending last year by printing currency.

And people say that money printing doesn’t lead to inflation (well maybe not directly, but….)

And those underwear and pajama clad bums that oh so need to get back into those office chairs….now they are suing their employers. The “right to work from home” is a real thing.

It also leads to lower productivity, higher costs, and customer service that is just ridiculously bad (I remember we had to contact the HR department of my wife’s work last February….what a job. There was literally no one there. The process involves sending emails to various people, and waiting….weeks later you get a response – the wrong one. Then you try again.)

All those dark offices are NOT producing A level customer service. Not while the employee in charge is feeding the dog, chasing their toddler around or vacuuming.

Anyone who thinks this is over is a very positive thinker.

I went to see my friend who runs a bar today. He now cooks his own food (can’t afford a chef anymore, so the owner works in the kitchen).

How is he doing?

Awful. No customers. No one to sell drinks to. Everyone is still at home, refusing to come to work.

Ran into another person who tried to buy a car. What an experience. Had a bidding war with three other people on a used 2019 model (all they had on the lot). Ended up paying MORE than the crappy thing cost new.

This is Venezuela style stuff. When the great one took over. And all of a sudden you couldn’t get anything. Anything of value just skyrocketed in price, because you couldn’t find one.

Nope. We are in for a long, deep recession. Things are going to get very bad.

Governments have been money printing themselves out of the various fiscal holes they got themselves into for years now, and all of a sudden money costs something again. Look for massive spending cuts, tax hikes, and people on the street protesting that they can’t afford anything anymore.

We are nowhere near the end of this.

#98 Shawn on 06.21.22 at 10:33 pm

Move to Alberta

See the green on the screen of the Alberta Economic Dashboard

https://economicdashboard.alberta.ca/

Not too late to move here and enjoy the improving economy.

High oil prices are rocket fuel for the Alberta economy. Forget windmills!

Money is gushing into Alberta from the U.S.A. as energy is sold at high prices. Yee Haw!! Ride this bull!

#99 Mac Truck YYC on 06.21.22 at 10:41 pm

#93 The Regulator on 06.21.22 at 10:08 pm
# 81 – Wtf : Mabey ex B.C. residents with Alberta plates are responsible? Signed : Born and bred Albertan. The Horror, the Horror!
——————————-
Uh excuse me!! You peoples wonder why other provinces want segregation??

We’re ONE big family called Canada! Try to support your neighbours, immigrants, east and yonder… you are on the same table, born and bred Albertan or born and bread BCer or born and bread Nova Scotian… Let’s stick together!! United!!! None of this segreation, finger pointing non-sense. WE are Family!! Canadians!!! ONE!!!

#100 Old Boot on 06.21.22 at 11:09 pm

#87 the Jaguar on 06.21.22 at 9:40 pm

……

********

They like to pester lesbians, like me.

BTW, I clocked you ages ago – Blanchardian AGP.

#101 VicPaul on 06.21.22 at 11:31 pm

#71 Flop… on 06.21.22 at 7:32 pm

Mr Flop Snr is still alive ….
my Dad was the toughest person I knew…

He never drove a vehicle, but taught me to drive.

He never played golf, football or cricket, but taught me how to.

Just because he was unable to do certain things, he never let me miss out on some skills in life …

Didn’t have to worry about losing my Dad …

Apparently he wants to talk to me again,…

They say laughter is the best medicine, apparently catching up with family members you thought had abandoned you can work wonders too…

M48BC

*********

Hey Flop, sorry to hear of your Dad’s challenge.

My Dad is not ill – just aging and has lived a full, hard-working tradesman’s life. I had a little cathartic moment this winter – felt I needed to see him, so I took a two month leave to visit him (Ontario) for a while and am going back to spend the summer(six weeks) with him and golf a new club. Quite a departure from my regular life, but I forsee fishing in his buddy’s new boat, golfing and dinners with Dad. The time will be very well spent.
This is the great man who taught me how to be one.
It is a debt I can’t repay, but I can show him his worth to me – and that will be enough.

Happy belated birthday Flop ).

M58BC

#102 PeterfromCalgary on 06.21.22 at 11:34 pm

At some point in the future Putin dies and goes to hell. After spending a decade sucking up to Satan he gets a day pass to go to Moscow, Russia. He walks into a Moscow Pub and orders a beer. He then asks the bartender is Ukraine with us? Yes says the bartender. How about Poland? Yes they are as well. Putin smiles finishes his beer and asks how much do I owe for the beer. Five Euros says the bartender.

#103 Old Boot on 06.21.22 at 11:39 pm

#88 Faron on 06.21.22 at 9:44 pm

#74 Oldboot on 06.21.22 at 8:20 pm

Uh, the docu wasn’t about trans athletes.

Good rant. I agree with the physiological facts you state. Disagree with the psychological.

But, again, this is about Elon’s garbage and now about how you appear to see trans people as not meriting a voice. Gross IMO.

*******

‘Trans’ people are all men and women, and already enjoy all the same human rights as the rest of us in the west. It’s not a human right to pretend you’re the opposite sex.

“Gross” is male sex offenders and murderers in Canadian women’s prisons, where the women are disproportionately Indigenous and/or victims of male violence. There have already been rapes, assaults, pregnancies, and HIV transmission as a result.

“Gross” is the chemical sterilization (and surgical mutilation) of mentally ill and/or autistic children whose parents are falsely told they can have either a dead son or living ‘daughter’.

The notion of gender was popularized by a pedophile by the name of John Money. He was utterly monstrous, and his earliest experimental subjects, twin brothers from Canada, both committed suicide as a direct result of what they experienced under his ‘care’.

https://embryo.asu.edu/pages/david-reimer-and-john-money-gender-reassignment-controversy-johnjoan-case

Anyone who transitions children is a eugenicist. Lawsuits are already being filed. It’s worse than the use of lobotomy.

#104 Mac Truck YYC on 06.21.22 at 11:46 pm

#98 Shawn on 06.21.22 at 10:33 pm
Move to Alberta
————
Hell ya! We got jobs and seats for all ya folks! Git over here and enjoy the good life! (cause I am seriously thinking the other provinces ain’t so happy for the young folks)
Alberta is wide and vast and the people are friendly. You get your distance and alone time here. We got time to share, have a timmies and listen. You’ll get a helping hand here. People are friendly, open armed, and not bunged up with that ‘only family’ stuff.

You tell em Shawn. There’s jobs here and community. What were all looking for! Alberta is home, aside from all the gossip, Albertans are loving people, kind and helpful, once you move here, you will stay.

#105 Sail Away on 06.22.22 at 12:13 am

#98 Shawn on 06.21.22 at 10:33 pm
Move to Alberta

See the green on the screen of the Alberta Economic Dashboard

https://economicdashboard.alberta.ca/

Not too late to move here and enjoy the improving economy.

High oil prices are rocket fuel for the Alberta economy. Forget windmills!

Money is gushing into Alberta from the U.S.A. as energy is sold at high prices. Yee Haw!! Ride this bull!

———

Likewise BC, now, cranking these coalmines. Lots of action here in Tumbler- every car, hotel, plane booked. Moving fast and furious.

Climate ideology what?

#106 Retired in AB on 06.22.22 at 12:55 am

Athletes aren’t investors. The athletes who lost the most when they decided to take their salary in crypto currency.

https://digg.com/crypto/link/the-athletes-who-ve-lost-the-most-money-exchanging-their-salary-for-crypto-currency-5wPBXQJQpJ

#107 E J on 06.22.22 at 1:07 am

The war still burns on in Ukraine. China is still being China.

Don’t rule out more international shocks in the coming months.

#108 Dr V on 06.22.22 at 1:23 am

95 cars (bikes?)

“Beside that…my ride right now is Litespeed Ultimate Titanium with Ult(eg)ra. Was going to DA it, but in the end it was pointless.”
———————————————

Agreed, though I like to add a DA rear derailleur just so I have one piece that says “Dura Ace”…….and mechanical as opposed to electronic.

#109 DJT on 06.22.22 at 2:23 am

Get woke and go broke doesn’t seem to interest Elon.

#110 Jessica on 06.22.22 at 7:06 am

DELETED

#111 Cars on 06.22.22 at 7:47 am

#108 Dr V on 06.22.22 at 1:23 am
95 cars (bikes?)

“Beside that…my ride right now is Litespeed Ultimate Titanium with Ult(eg)ra. Was going to DA it, but in the end it was pointless.”
———————————————

Agreed, though I like to add a DA rear derailleur just so I have one piece that says “Dura Ace”…….and mechanical as opposed to electronic.

———————————————

Oh Dr V, you know the game! My Enve carbon wheels are built around the lovely latest Dura Ace hubs, so there are those two pieces that say Dura Ace on the bike. I Amy throw a derailleur on there for you at next tuneup!

And absolutely agreed with you about mechanical. Di2 is fancy, but heavier and I’m not into needing to turn my bicycle into an electric that needs recharging to shift.

No more mechanical DA made nor Ultegra, and I snatched the last two mechanical Ultegra group sets the shop had so I don’t have to go electronic or 105.

#112 the Jaguar on 06.22.22 at 8:05 am

@#100 Old Boot on 06.21.22 at 11:09 pm

I confess I googled it, but it was too boring to get through to see what it all means. I’ve seen an interview with Kathleen Stock so I have some understanding of her view point.
It must be exhausting to spend so much time obsessed with these matters. To have them ‘define’ you.
You might want to take your ‘clock’ to the watch repair shop. It’s dead wrong.

#113 crowdedelevatorfartz on 06.22.22 at 8:29 am

@#107 EJ
“The war still burns on in Ukraine.”

++++
The war will still be grinding on this time next year.
I hope Western countries are stocking up on winter combat clothing to send to the troops.

#114 Sail Away on 06.22.22 at 8:41 am

#108 Dr V on 06.22.22 at 1:23 am
95 cars (bikes?)

“Beside that…my ride right now is Litespeed Ultimate Titanium with Ult(eg)ra. Was going to DA it, but in the end it was pointless.”

———

Agreed, though I like to add a DA rear derailleur just so I have one piece that says “Dura Ace”…….and mechanical as opposed to electronic.

———

Carbon wheels and tubeless make a big difference. They stay perfectly true through thick and thin. Only a matter of time before belts fully replace chains. Similar to sailing where new tech keeps changing the game.

Tour Divide in the next few years!

#115 TurnerNation on 06.22.22 at 8:50 am

A shout-out to my handful of fans. (You are on the right side of history)

I admit it I love Big Brother.
But some tax farm slaves aren’t this happy living under the new Global Bio-security Health Tyranny system.

https://www.cbc.ca/news/politics/mp-threats-safety-panic-buttons-1.6496243
MPs describe threats, safety fears as they’re issued panic buttons
“There’s a lot of angry people out there. And there’s a lot of political language, including words like ‘traitor,’ which are freely used including by politicians.


— Control over our Travel/Movement…is permanent. I tell ya they are stringing us along until the full global digital ID id ready. You will have to regularly submit to stuff in order you are not grounded at home by the global nanny state. Free travel ended when the world fell, March 2020.

.Frustrated by passport wait ‘chaos’, would-be travellers in Montreal take matters into their own hands (cbc.ca)

.Transport Minister says ArriveCan is here to stay.
“The ArriveCan tool continues to be a valuable tool for our border agents. We still have vaccination requirements for international arrivals, like many countries around the world, and ArriveCan remains [a] tool that enables our customs agents to verify the vaccination status of an arrival,” Alghabra said during an interview with Global News’s Mercedes Stephenson on Sunday. (thecountersignal.com)

#116 Hank on 06.22.22 at 8:51 am

Garth Turner has a very nice pension of $60,000 a year tax free from what maybe 9 years of being a politician while today a survey showing 62% of Canadians that were supposed to retire can’t now because of Trudeau’s rising inflation, taxes, cost of living. Canadians are so gullible. 7.7% inflation rate annually. This is probably low too, more like 10.7%. Figures lie, liars figure.

My pension is $24,000 a year, fully taxable at 54%, and I donate it. Speaking of liars… – Garth

#117 Sail Away on 06.22.22 at 9:01 am

#112 the Jaguar on 06.22.22 at 8:05 am
@#100 Old Boot on 06.21.22 at 11:09 pm

It must be exhausting to spend so much time obsessed with these matters.

——–

Yes, for everyone. Pure and total self-obsession. As if it matters in the slightest.

My dogs don’t have this issue. Male, female, or fixed. All they obsess about are birds and food.

#118 Sonny Kang on 06.22.22 at 9:10 am

https://www150.statcan.gc.ca/n1/daily-quotidien/220622/dq220622a-eng.htm

Canadians continued to feel the impact of rising prices in May as consumer inflation rose 7.7% year over year. This was the largest yearly increase since January 1983 and up from a 6.8% gain in April.

#119 Summertime on 06.22.22 at 9:27 am

https://ca.finance.yahoo.com/news/canadian-inflation-hits-7-7-largest-increase-since-1983-123759961.html

CPI is accelerating and increasing faster than the token rate increases. As for real inflation/at least double CPI/ it is clearly runaway and is unlikely to be contained, unless we introduce real positive interest rates/read 15 % +.

#120 DON on 06.22.22 at 9:43 am

POP goes inflation.

#121 Shawn on 06.22.22 at 9:50 am

Pension Envy!

#116 Hank on 06.22.22 at 8:51 am claimed with outrage:

Garth Turner has a very nice pension of $60,000 a year tax free from what maybe 9 years of being a politician…

Garth responded:

My pension is $24,000 a year, fully taxable at 54%, and I donate it. Speaking of liars… – Garth

*************************************
If people want to be envious of other people’s pension and and other things they should get it right.

A guy on twitter the other day claimed P.P. has or had “received a full pension at age 32 for 6 years of service”.

What is a “full” pension?

It seems the facts are the MP pension is 3% of salary per year served up to a maximum of 75% of salary. This is for service starting 2001. Prior to 1995 it was 5%. For the five years in the middle there is was 4%.

So an MP who makes it to 6 years qualifies for 18% and can’t collect a dime before age 55.

If you’re going to have pension envy of someone, at least get the size of it correct first. Upon checking, it might not be quite as big as you thought.

https://www.osfi-bsif.gc.ca/eng/oca-bac/ar-ra/mp-plm/Pages/MP19.aspx#appA

#122 Dave on 06.22.22 at 9:57 am

Sadly my Giant TCR road bike has cracks on the seat stays. I don’t trust fixing carbon graphite bicycle frames. Selling bike with all ultegra components. Less than 1k on all components. Not riding that much now because the Hills in caledon are too steep…especially getting into Belfountain for some delicious hand crafted ice cream cones.

Anyway no nibbles on the cracked bike so I’m going to list the components. Hopefully it will all sell.

Im never buying a carbon graphite bicycle frame again! Too fragile because they can’t tolerate the incredible torque that I apply with my mighy thighs. One guy commented on a ride that seeing my seat post bend freaked him out.

The bike gets great mileage! Pretty well doesn’t cost any money to drive.
Drivers in caledon are idiots now so road riding is too dangerous.

#123 Quintilian on 06.22.22 at 10:15 am

#98 Shawn on 06.21.22 at 10:33 pm
“Move to Alberta
See the green on the screen of the Alberta Economic Dashboard”

Too funny Shawn.
You are just on a temporary high; hangover as usual just around the corner.
Always been boom and bust in Alberta.

Check under the hood here:

https://public.tableau.com/app/profile/business.council.of.b.c./viz/BCBCEconomicDashboard-DesktopVersion/Overview

The high performance in spite of the people that run the province are hillbilly thieves and once in a while they get booted out and replaced with Bolsheviks.

The hillbillies are so corrupt, I prefer the Bolsheviks.

#124 THE DANDADA on 06.22.22 at 10:27 am

and that’s why I come here.

Garth is just always so positive.

#125 T Rex and the dinosaur clique on 06.22.22 at 10:50 am

Inflation now at 7.7% and rising.

Highest since 1983

We may soon have a global currency crisis as paper money is quickly becoming worthless

#126 Jesse on 06.22.22 at 11:02 am

There’s even an ugly rumour more people will be forced back to their, shudder, workplaces. Avec pants. Yikes.
**************************
**************************

People aren’t going back to the office, Garth.
Stop trying to make that a thing.

My office just filled up. So did the food court below. And the PATH is busy. Get out of your jammies and go see. – Garth

#127 Flop… on 06.22.22 at 11:13 am

#101 VicPaul on 06.21.22 at 11:31 pm

“Hey Flop, sorry to hear of your Dad’s challenge.”

That’s o.k, VP, I’m not real good with the family thing, or the death thing, put the two together and I’m totally lost.

I think my Dad is 69, if you could guarantee I would live to 70 right now, I would probably take the deal, that would give me 22 years to focus on what I enjoy in life and would be easier to pace myself on investment withdrawals.

My Father In Law is 81, quite a bit older than my dad, even though I’ve been estranged for a long time, my Father in law, because of the age difference partly, never really replaced the father figure, and if anything it’s more of a grandfather/ grandson dynamic.

He’s becoming non-verbal slowly, and easily confused and everything’s an effort, Mrs Flop noted the difference listening to my father on the phone the other day and said most people would guess that it’s my Father in law that is on deaths door.

“Happy belated birthday Flop ).
M58BC”

Thanks VP for the gap code support, I think I was 40 when I first got on here in 2014, I think my first gap code was M41BC a little while later, knocking on the door of 50 now, so much stuff to look forward to like getting my colon checked out…

M48BC

#128 Tony on 06.22.22 at 11:14 am

Canada’s inflation rate comes out at 7.7 percent for the month of May.

#129 Faron on 06.22.22 at 11:15 am

#103 Old Boot on 06.21.22 at 11:39 pm

Sorry, I’m not going to engage with you on this any further. The evidence and data do not support your stance.

#130 Faron on 06.22.22 at 11:30 am

#114 Sail Away on 06.22.22 at 8:41 am
#108 Dr V on 06.22.22 at 1:23 am
95 cars (bikes?)

I rock a tange steel 1995 Rocky Mountain Metro 3×7. Mutt crankset (sugino and ???). Deore hubs built to meh rims. Important parts are the Schwalbe marathon plus tires. Towed 50lbs of basset, 10lbs of gear and another 10lbs of trailer over 80kms last weekend for a camp out. I even wore spandex.

#131 Ponzius Pilatus on 06.22.22 at 11:32 am

#115 TN
Control over our Travel/Movement…is permanent. I tell ya they are stringing us along until the full global digital ID id ready. You will have to regularly submit to stuff in order you are not grounded at home by the global nanny state. Free travel ended when the world fell, March 2020.
————————
Worry about Government surveillance?
Personally, I’m more worried about our omnipresent Capitalist Overlords.
Google etc.
Order a coffey at Timmies and use their APP, and they got you for life.

#132 Dr V on 06.22.22 at 11:56 am

122 Dave – check with your shop to see about a warranty replacement.
Friends propel frame cracked after 5(?) Years and it was replaced no charge. My giant is still my “go fast” bike after 7 years.