No place to hide?

Since the biggest cohort in the population wasn’t alive (or barely so) the last time we had inflation like this, no wonder they don’t get it.

The Mills and Zs are also confused because life looked simple six months ago. Buy a house with huge debts. Make a brazillion in tax-free profit. Borrow against that to buy another house. Retire rich. At 35.

Then came inflation. It changed everything.

Rates went up, houses went down, borrowers were squished, the housing market froze. Meanwhile stocks looked iffy. Bonds fell. Crypto was crushed. The Bored Ape junk tanked. And the Boomer overlords started talking about having to go back to the workplace. The middle ages had returned.

So where is money safe now from the erosion of inflation?

Lately, as rates edge up, the GIC-lovers have appeared, all giddy and moonstruck they can make up to 4% on a one-year term and 5% over five years. Yes, better than 1% a year ago, but in order to get this fortune a soul has to lock up the funds, receive no income and (in the case of a multi-year asset) pay tax annually on money not received in a non-registered account.

But the real issue is a 5% return when inflation is 7%, on its way to 8% for a while. Does this make any sense over the course of the next half-decade? If you fear the future, or have millions already, then maybe. But for people trying to grow wealth, it’s a dubious move.

Gold?

Lots of bullion-lickers come to this site for reasons that escape me. The myth is that the yellow rocks are an excellent inflation hedge when fiat money is being burned at the stake by dingbat politicians and profligate bankers. Of course, bullion pays no interest. No dividends. It costs money to store. Any gains are fully taxable.

And what of its powers to defy rising prices?

Meh. No evidence to support that lately. The metal has a desperately low correlation to inflation and rises (or falls) more on sentiment than anything else. Over the last 50 years the gold/inflation correlation is a puny 0.16. In other words, none.

Yes, bullion gained ground during Covid, largely on announcements of outsized government spending and the belief that would tank the US$. But it didn’t happen, and a $2,000 price soon deflated by a couple of hundred bucks. Now as inflation tops the charts, the metal has gone to sleep. Once again, no correlation.

While inflation soars, gold has fiddled

Source: Seeking Alpha

How about Bitcoin, Dogecoin, Luna, Ethereum and all the crypto assets that have seized the fancy of a new gen of ‘investors’ (who are actually gamblers)?

Disaster. Losses are 50% to 70% or, in some cases, 100% over the course of a year. Seems the kids got it wrong, and crypto is closely correlated with monetary policy flowing from the CBs that they seem to hate. As that policy tightened, as interest rates jumped, as bond yields advanced, as the American currency strengthened, this stuff collapsed. Like gold, crypto moves on sentiment, not macroeconomics or the money supply. In fact, the correlation to inflation looks negative.

What about equities?

The S&P 500 (the one to watch) has delivered a long, long, long-term average of just over 10.6%. Adjusted for inflation along the way, the real return is 7%. Turns out that when inflation is high, corps tend to pass those added costs along to consumers in the form of greater prices. So profitability is not as crunched as much as family cash flow.

But as for correlation, another pass. Stocks have done very well historically, but as you can see below, no defined pattern. However, in our modern world the economy grows 80% of the time and markets feed off that.

Conclusion: stay invested in stuff with the best track record over time. We all need equity exposure, unless you plan on dying in the next year or two (then you should spend everything quickly. Maybe a Porsche.) The best way to get that exposure is not by picking a few stocks (look at Shopify or Peloton), but by buying a quality ETF holding an entire index. Combine that with diversification – some fixed-income assets (insurance) plus geographic and sector diversity – and stick with the plan.

Rebalance every year or so (soon we will review portfolio weightings), and remember why you invested. It probably wasn’t with the prospect of having more money next month, but financing a longer-term goal. Buying a house. Retiring. Sending the kids to uni. Your estate.

The more you divert from that plan, try to time things, let emotions run rampant or run and hide in some asset a grifter on FB promoted, the further behind you will fall.

Remember the new motto here. Be brave. Be boring.

About the picture: “I’ve been reading your blog for years now,” writes Brandon. “Your advice got me out of cowboy thinking in cannabis stocks into a B&D portfolio. I’ve changed careers a few times over the past several years from farming to now working as a mortgage agent. Using the blog as a tool didn’t make some of what I told clients happy at first, but they are now thanking me. I’ve included a picture of Kelso. She’s a GSP that we got at non-covid puppy prices because she didn’t have spots.”

152 comments ↓

#1 Faron on 06.28.22 at 2:20 pm

#122 Sail Away on 06.28.22 at 12:28 pm

The best place serves a proper egg-infused Monte Cristo with sliced roasted chicken, plus fantastic homemade onion rings. Also the best Reubens.

Sounds “light in the loafers” to me. Shrug.

FYI, you can order White Spot with the app. Jus trynna be helpful.

#2 Omicron Kenobi on 06.28.22 at 2:23 pm

Don’t stress or worry about any of this ‘investing’ stuff, people.

I will be taking care of all of you.

Monkeypox will clean up the leftovers.

There will be no money to lose when there’s no one left to count it.

#3 None on 06.28.22 at 2:26 pm

It’s going to be interesting to see the change from the massive rewards of extreme risk taking to the consequences of extreme risk taking

We really haven’t seen that in the last 15 years (except a bit in AB).

#4 YYC on 06.28.22 at 2:42 pm

Hopefully first?

#5 yvr_lurker on 06.28.22 at 2:50 pm

A one year GIC for 4% seems to me a decent choice at this stage for an RESP that will be start to be withdrawn in a little more than one year with no tax consequences for an 18 year old. If you look at the ZBAL chart the gain is exactly 0 from late 2019 until today… Went up nicely and came zooming down the train. Zero gain over 2.5 years. One would have had the same outcome from putting it under a mattress for the last 2 years.

At this stage I’d rather take the 4% on a one-year term as I think the market still has downside left. I am essentially betting that the market will not gain 4% over the next 12 months. Seems like a decent bet, when the majority of experts are expecting a recession.

For the long term, doing a GIC is of course foolish. But in this short term period where one does not want to lose more $$, it seems like the best choice. Garth is always more optimistic about the market, and downplays the downside in the near term.

#6 Faron on 06.28.22 at 2:54 pm

#127 Old Boot on 06.28.22 at 1:19 pm

gender ideology

Remember that time, all those days ago, Garth told us that his blog’s comments section isn’t the place for sex/gender “discussion”? I do. Get over it.

#7 Senator Bluto on 06.28.22 at 2:55 pm

Try buying a Porsche today. Prices are through the roof. Back in the 80s I made good $$ buying and selling cars. May have to do that again.

#8 Above The Law on 06.28.22 at 2:57 pm

Ghislaine Maxwell sentenced to 20 years in prison.

Jeffrey Epstein dead. Suicide.

Justice has been served. Case closed.

Right?

#9 Bdwy on 06.28.22 at 2:59 pm

Its offical! All clear! we dodge the recession.

” ARK Invest’s Cathie Wood says the U.S. is already in a recession”

It seeme as it could have gone either way but we are safe now. Thx cat!

And

Co2 is plant food not pollution . Remember this.

#10 Johnny Debt on 06.28.22 at 3:03 pm

I got a $10.35m judgment, minus the $2m judgement for Amber, it leaves $8.35m outstanding to me.

With this inflation, and with my Pirate background, I just know that gold is a currency that doesn’t lose buying power the way paper money does.

And to be honest, with that journalist and drama teacher in charge of your Canadian dollarettes, I really would not want to hold any of that paper stuff. Didn’t I see a chart on here recently that money supply in Canada quintupled in one year?

#11 Brett in Calgary on 06.28.22 at 3:12 pm

Re: Bitcoin, I agree with Buffet. Gold has held up better than bonds/prefs in the first half of this year. I own all three so not licking to many rocks.

#12 Sail Away on 06.28.22 at 3:24 pm

Thanks Garth, good writeup.

Yes, as always, stay invested in good stuff. Buy more at good value. Now is not a bad time to be buying.

**

For Dolce, we’ve had a few days of 30s, and it’s toasty.
I do love a good long run in the hot sun.

We also shave all dogs down to about 1/2″ pelage when summer heat hits and this keeps them good for full-day exercise up to about 30C. Without shaving only to low 20’s at best. Huge benefit for working dogs- they’re so much happier. Then it all grows back by October.

#13 Quintilian on 06.28.22 at 3:25 pm

“However, in our modern world the economy grows 80% of the time and markets feed off that.”

True but markets do not reflect the economy directly.

Puts, Options, NFT’s Crypto, Futures, Swaps, Derivatives, Hedging= Gambling.

Garth, you are an honest and a consummate professional, but remember you are swimming in a gutter full of sharks.

Crowdie, too late, you will have to ride this one out.
Should have listened to us bears.

I know, young people don’t have the experience old folks can draw from.
Just remember that some men have the same experience 100 times, others might have 100 experiences.

#14 Stone on 06.28.22 at 3:25 pm

The Mills and Zs are also confused because life looked simple six months ago. Buy a house with huge debts. Make a brazillion in tax-free profit. Borrow against that to buy another house. Retire rich. At 35.

———

That should be…at 44 (for the gen-x crowd). Worked for me…minus the real estate part. Got rid of that in 2017 and invested everything into the B&D portfolio.

Early retirement is grand! Along with the fantastic divvies provided from the B&D.

#15 Tron on 06.28.22 at 3:26 pm

Hi Garth, if you do some portfolio weightings I’d be interested to see what you’d recommend for a 60 yr old woman.
My mom is low income and just sold her house and I looked at her portfolio to give her some advice on investing it.
Turns out some “advisor” has her basically in HISA and GICs for the last 20 years, scooping up fees along the way.
Now with $400,000 in assets (75% from the house) I want her to move into a B&D portfolio to fund her future retirement, but concerned about the weightings.

She has 25-30 years of runway ahead of her with lots of income requirements. Your mom needs growth and distributions. – Garth

#16 Observer on 06.28.22 at 3:26 pm

#8 Above The Law on 06.28.22 at 2:57 pm
Ghislaine Maxwell sentenced to 20 years in prison.

Jeffrey Epstein dead. Suicide.

Justice has been served. Case closed.

Right?

^^^^^^^^^^^^^^^

Hopefully Trump will also get his comeuppance. Sure wouldn’t want to be Cassidy Hutchinson(key aide in former U.S. president Donald Trump’s Whitehouse) right now. I presume she will need the witness protection program after her testimony.

Hutchinson quoted Trump as directing his staff, in profane terms, to take away the metal detectors, known as magnetometers or mags, that he thought would slow down supporters who’d gathered in Washington. In videotaped testimony played before the committee, she recalled the former president saying words to the effect of: “I don’t f-in’ care that they have weapons.”

“They’re not here to hurt me. Take the f-in’ mags away. Let my people in. They can march to the Capitol from here,” Hutchinson testified.

https://www.cbc.ca/news/world/jan-6-committee-6th-hearing-1.6503840

#17 Bdwy on 06.28.22 at 3:30 pm

Johnny Debt on 06.28.22 at 3:03 pm

I got a $10.35m judgment, minus the $2m judgement for Amber, it leaves $8.35m outstanding to me.

With this inflation, and with my Pirate background, I just know that gold is a currency that doesn’t lose buying power the way paper money does.

…….

Thats a big judgment. Id recommend dirt, empty. Cheap but close to something. Waterfront. Acreages. Views. pretty stuff where you can enjoy spending time there.
If urban in the next to be gentrified crappy area.

. Mining more gold. No new land . Too many new people .

Ofc not paper money. But rbc does a good business of shuffling said paper

//////

Lurker . We recently emptied a hefty resp for our budding engineer. Goes on her tab. She had to pay a few k tax on it as she worked too. Great lesson for the kids.

#18 Shawn on 06.28.22 at 3:32 pm

Trudeau and Freeland not intelligent?

Anyone saying that Trudeau or Freeland are either not intelligent or are unqualified loses credibility.
Trudeau got elected PM three times.

Those saying he is dumb have achieved what in comparison?

And will they really put their resume and accomplishments up against Freeland? Give me a break.

I voted Conservative last federal election (since none of the above was not on the ballot). But foaming at the mouth with insults to these two makes the people saying it look dumb in my opinion.

#19 Observer on 06.28.22 at 3:32 pm

#8 Above The Law on 06.28.22 at 2:57 pm
Ghislaine Maxwell sentenced to 20 years in prison.

Jeffrey Epstein dead. Suicide.

Justice has been served. Case closed.

Right?

^^^^^^^^^^^^^^^
In answer to your question, it’s great that Maxwell got 20 years, but sad that the men involved in raping and abusing young girls got away with it. So, no. Justice was not served.

#20 Sail Away on 06.28.22 at 3:35 pm

#133 Ustabe on 06.28.22 at 2:29 pm

You are as willfully stupid as Sail Away.

——

Oh my. That seems a little mean.

I wonder if your sore hip is karma?

If it helps, my body feels great. Fantastic, actually- we’re running up Mt. Benson with the shaved dogs later. Also karma? Will pray for you.

#21 crowdedelevatorfartz on 06.28.22 at 3:44 pm

@#16 Observer
“In videotaped testimony played before the committee, she recalled the former president saying words to the effect of: “I don’t f-in’ care that they have weapons.””

+++
Yep.

He even grabbed the steering wheel of the Limo and when the Secret Service told him to let go ha grabbed the agent by the throat and demanded to be driven to the Capital ” I’m the F-ing President! Take me there”

A spoiled rotten, certifiable loon.

#22 Faron on 06.28.22 at 3:49 pm

#131 Shawn on 06.28.22 at 1:32 pm

Carbon Tax rebates and Faron

#121 Faron on 06.28.22 at 12:23 pm replied:

*****************************
You have it backwards. This money would have been paid as lump sum larger income tax refund, or smaller tax bill around April this year but instead is delayed with half coming July 15, 1/4 in October the last 1/4 in January.

So it’s LESS stimulative than the previous approach. It pushes demand later in time, not earlier.

When in a hole, stop digging.

Dude! Why would CRA (however dull) opt to re-calculate refunds it already paid out for the ’21 tax year? It’s pretty clear that for the ’22 tax year they are taking what would have been credited when taxes are filed in early ’23 and delivering it now and through the year as quarterly credits.

No matter how you slice that, that is pulling “stimulus” forward. Stimulus in quotes because it’s all the same money. My mistake was in thinking it all came as a lump this July when in fact it’s quarterly, so the stimulative effect is reduced and spread out. But it certainly is bringing a credit forward in time and potentially leaving a stimulative void in ’23 during the typical April refund period.

And, yes, I do realize that the CRA is acting as a 0% interest savings vehicle, but the psychological effect on consumers will be bringing demand forward and a hole in the wallet later. Gov’t of Canada must be pretty confident that any economic slow down will be short-lived.

And settle down man. I’m having a friendly discussion with you. Don’t start bringing out the domineering “when in a hole…” BS. Chill.

#23 Elon Fanboy on 06.28.22 at 3:53 pm

#8 “Ghislaine Maxwell sentenced to 20 years in prison.
Jeffrey Epstein dead. Suicide.
Justice has been served. Case closed.
Right?”

Nope…I wanna know who their clients were? Why hasn’t that been discussed anywhere in the MSN? They’re not even asking.

#24 Søren Angst on 06.28.22 at 3:57 pm

That was good Garth. Reaffirming.

Despite what happens odds are 80% in time it will get better.

And it will.

Still healthily +’ve price gains in my Threadbare Portfolio (way better than a GIC, that’s for sure).

It would be a LOT BETTER if it were not for TWTR, the Albatross -1.1% as I type.

——————–

#12 Sail Away

Good you had some very warm days. I was worried, honestly, that the Lower Brainland would end up with perpetual Spring this Summer and a Provincial Vitamin D Deficiency Pandemic announced.

The dogs, good you shaved them. Way back when, my Springer Spaniel a happy camper in Summer after a good fur cut though never a big fan of getting his nails clipped.

Looking at the FAKE CDN SUMMER so far, I could not resist a few jabs at Canada from Italia…you know, from a safe distance.

https://twitter.com/bsant54/status/1541745496267563008

https://twitter.com/bsant54/status/1541746535360233473

Believe me, Italia lies about the high temps. Add at least a few degrees for the truth. As I type weather says it is 27 deg C, across the piazza on the Bank sign it says 29 deg C (2157 h CET).

#25 Faron on 06.28.22 at 4:06 pm

#133 Ustabe on 06.28.22 at 2:29 pm

#132 Don Guillermo on 06.28.22 at 1:43 pm

#126 Ustabe on 06.28.22 at 12:39 pm

Who is a lefty?

Don Guillermo swallowed the worm in his tequila bottle today methinks.

#26 Sail Away on 06.28.22 at 4:08 pm

What’s up with the usual suspects throwing combative insults? Aren’t the blog topics economy and markets?

Hard to get too worked up about those.

Stay on topic, tigers.

#27 Pet Detective on 06.28.22 at 4:14 pm

To achieve a trendy balanced portfolio one would look at holding etf’s such as VUN, VEQT, VBAL. With so many purchasing these ETF’s in the last few years do you see an issue with underperforming companies getting pumped up through Etf Investment? I have read that the positive returns of the S&P 500 are generally from only a few companies so one would assume Etf’s are pumping up a lot of companies that are still underperforming?

#28 Søren Angst on 06.28.22 at 4:16 pm

OSFI not wishing to be seen meddling with most everyone’s favorite retirement nest egg, cash cow, Cdn RE.

https://twitter.com/RobMcLister/status/1541810739148619778

#29 Don Guillermo on 06.28.22 at 4:28 pm

#134 Don Guillermo on 06.28.22 at 3:36 pm
#133 Ustabe on 06.28.22 at 2:29 pm
#132 Don Guillermo on 06.28.22 at 1:43 pm

#126 Ustabe on 06.28.22 at 12:39 pm

Scroll wheel, gentlemen, scroll wheel.
###########

Who is a lefty?
You are as willfully stupid as Sail Away.
&&&&&&&&&&&
My mistake. I usually don’t associate name calling with conservatives.

Calling SA stupid says more about you. Even if you don’t agree with everything/anything he says it’s obvious he’s not stupid.

You should really be using your scroll wheel advice.

#30 Old Boot on 06.28.22 at 4:31 pm

#6 Faron on 06.28.22 at 2:54 pm
#127 Old Boot on 06.28.22 at 1:19 pm

gender ideology

Remember that time, all those days ago, Garth told us that his blog’s comments section isn’t the place for sex/gender “discussion”? I do. Get over it.

************
Do you also chase down speeders, illegal left turners, and litterbugs?

I’m confident Garth can police his own blog without assistance from deranged wokebros.

You have an unhealthy fixation on controlling others speech. Get over it.

#31 SW on 06.28.22 at 4:38 pm

Returns unadjusted for inflation in the past 22 years:
Gold = +541%
S&P = +159%
TSX = +97%

Gold has historically danced with the $YEN, inverse to $TNX and usually inverse to the USD but the two can and will move together at times. Gold has had headwinds the past year with a collapse in the $YEN, strong dollar and rising $TNX. It been a better play since the start of 2022 than equities. If / when Gold starts to move, the miners will be your leverage but they need to be traded and not for buy and hold investors.

Now add in dividends paid by equities. – Garth

#32 Cowtown Cowboy on 06.28.22 at 4:41 pm

Looks like John Horgan has stepped down, as much as I despise the ideology, I respect the commitment. Looks like the cancer treatments have taken a toll and he needs to look after himself. Hopefully he gets some rest and lives to fight many more days.

#33 ogdoad on 06.28.22 at 4:44 pm

You guys…brave, boring, content, senses of accomplishment (Full.Dis. I napped while writing that)…the real winners here are the Beaver/boy scout/girl guide leaders who are patting themselves on the back for contributing to your boring lives…the losers are, well, us. That sucks.

Time to change it up for a bit. Maybe visit another city. Maybe move. Maybe read The Corbett report and watch Fox News. Maybe hug more (def’n). Blue pill? Yep!

mmmm…oops, its time. Later!

Og

#34 Fortune 8 1 on 06.28.22 at 4:47 pm

That is a very sad picture. Have you thought about feeding your dog?

#35 Bearber on 06.28.22 at 4:56 pm

Crypto is a dirty word these days for good reasons. Lots of ponzi coins and shady characters for sure.

By this time next year once regulatory clarity is settled and ISO20022 gains hold most will disappear – and good riddance!

Then there are digital assets with UTILITY…

A different category and currently embraced by many central banks including our BoC.

The BIS came out last week and dropped it’s annual report that suspiciously reads like a Ripple press release.

Read it for yourself or better yet, listen to the podcast or watch the presser on youtube at the link below.

Yes, XRP is down a ton but PSP Ripple (Payment Service Provider) continue to sign many banks and just had their best year yet despite heavy headwinds from the SEC lawsuit (which is unravelling every day as discovery plays out thanks to the efforts of several attorneys and over 68,000 XRP holders who’ve joined the suit against the SEC – the agency sworn to protect them)

The emerging world order and digital economy will have tectonic shifts. Be prepared

https://www.bis.org/publ/arpdf/ar2022e3.htm

#36 David Landry on 06.28.22 at 4:57 pm

fartz on 06.28.22 at 3:44
He even grabbed the steering wheel of the Limo and when the Secret Service told him to let go ha grabbed the agent by the throat and demanded to be driven to the Capital ”

…..
Only way he could reach the wheel is if he was riding up front. Divider from the back is a long reach to the wheel. Nice story though.

 

#37 Don Guillermo on 06.28.22 at 5:01 pm

#25 Faron on 06.28.22 at 4:06 p

Don Guillermo swallowed the worm in his tequila bottle today methinks.
***********
Not a fan of tequila. Don’t mind a bit of mezcal once in a while. The worm in bottle thingy is a gimmick though.

#38 Dave on 06.28.22 at 5:10 pm

Grateful for the prospect of updated portfolio weightings. I look forward to those with interest. They are pretty much the recipe dropped right into your lap, for free, of the type of B and D portfolio you need to build. Since switching to it five years ago after losing a hatful on emotional individual stocks I haven’t looked back and have you to thank.

#39 Sail Away on 06.28.22 at 5:17 pm

#24 Søren Angst on 06.28.22 at 3:57 pm

The dogs, good you shaved them. Way back when, my Springer Spaniel a happy camper in Summer after a good fur cut though never a big fan of getting his nails clipped.

——–

“Make a brazillion” -Garth

Yes. Our dogs all go for the full Brazilian. We looked after a Shiloh Shepherd last summer that had about 6″ or more of super dense fur. He barely moved in even mid-teens… until the clippers came out. After that, he was a completely new dog. Too bad he had to wear that for his first 5 summers before attending the SA spa.

It is very difficult to run up a mountain in 30C while wearing a parka. Shaved with full Brazilian? No problemo!

#40 Nestor on 06.28.22 at 5:23 pm

“And what of its powers to defy rising prices?

Meh. No evidence to support that lately. ”

Emphasis on your usage of the word “lately”. Recency bias maybe? In any case let us recall the last inflationary period. Take the decade of the 70ths.

Real Returns:
Stocks: -2%
Bonds: -4% (at equities vol)
Gold: 21%

Nominal Returns:

Stocks: 5%
Bonds: 4% (at equities vol)
Gold: 30%

I care more about ‘lately’ than I do about 50 years ago. (And you neglected to include dividends or interest.) – Garth

#41 Faron on 06.28.22 at 5:33 pm

#30 Old Boot on 06.28.22 at 4:31 pm

So you don’t remember. Well, from one thought cop to another, you may want to have your wife call a neurologist to tune up that thinker of yourn.

#42 crowdedelevatorfartz on 06.28.22 at 5:37 pm

@#36 David’s defense
” Only way he could reach the wheel is if he was riding up front. Divider from the back is a long reach to the wheel. Nice story though.”
+++
Spent a lot of time riding in the Presidential Limo have we?

https://www.youtube.com/watch?v=k7pYIYrITmA

At the 5:30 mark the video describes the “President is the only one that can open the window between the driver and passenger compartment….”

I’ll take a witness testimony under oath over the pro Trump conspiracy theories’ any day.

I’d love to hear the testimony from the Secret Service agent.

#43 Faron on 06.28.22 at 5:39 pm

#37 Don Guillermo on 06.28.22 at 5:01 pm
#25 Faron on 06.28.22 at 4:06 p

The worm in bottle thingy is a gimmick though.

I know, I was being willfully stupid. Do you see the difference? Anyhow, it’s akshually a grub and they are saved for the Oaxacan antojitos that may or may not accompany your mescal. Delicious all around.

#44 Shawn on 06.28.22 at 5:53 pm

Faron, in hole, keeeps digging

That’s obvious, but today he said about the carbon tax:

Dude! Why would CRA (however dull) opt to re-calculate refunds it already paid out for the ’21 tax year? It’s pretty clear that for the ’22 tax year they are taking what would have been credited when taxes are filed in early ’23 and delivering it now and through the year as quarterly credits.

*****************************
It’s paid in arrears, in ’22 we are getting the rebate on what we paid in ’21. The credit was in our tax return for ’20 but not ’21. We did not get it in our refunds this past Spring.

Next time check facts.

“The climate action incentive (CAI) rebate is now the climate action incentive payment (CAIP). The CAIP can’t be claimed as a refundable tax credit starting in tax year 2021. Instead, you’ll receive tax-free payments in April, July, October, and January.”

(July is double because they were not ready to send in April)

Again this is only Ontario and the three prairie provinces.

Faron, I told you you were in a hole and to stop digging, but no you had to double down.

#45 Shawn on 06.28.22 at 6:02 pm

The Alberta budget surplus was just finalized at $3.9 billion for the year ended March 31.

Imagine how high it will be for this current year with no sign that oil is about to plunge.

Remember, I told you to move to Alberta. The unemployment rate here is sinking like a stone although still a shade over the national average. No provincial sales tax. Lower income tax. Higher wages. Lower home prices. Wide open spaces.

Actually, home starts just hit a level not seen since 2014. So I guess some of you listened.

https://economicdashboard.alberta.ca/HousingStarts

What’s it gonna take for all-ya-all to move here?

#46 the Jaguar on 06.28.22 at 6:10 pm

Brandon, please give Kelso a little more kibble. His ribs are showing…

‘Remember the new motto here. Be brave. Be boring.’ GT. ++

I do my best with the first one, but I’ll leave the second one to some of the other blog dogs who have got it down cold. (yeah,… y’all know the ones I am talkin’ bout, lol).

As for consequences of one’s investment choices or other actions, came across this quote from Alexander Fraser Tytler today which seemed a pretty good ‘sum up’ of the ‘everything goes and nothing matters’ crowd, and also how recent elections have played out in this country. Ted Byfield liked it too.

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.” –

#47 VicPaul on 06.28.22 at 6:33 pm

#1 Faron on 06.28.22 at 2:20 pm
#122 Sail Away on 06.28.22 at 12:28 pm

The best place serves a proper egg-infused Monte Cristo with sliced roasted chicken, plus fantastic homemade onion rings. Also the best Reubens.

Sounds “light in the loafers” to me. Shrug.

#6 Faron on 06.28.22 at 2:54 pm
#127 Old Boot on 06.28.22 at 1:19 pm

gender ideology

Remember that time, all those days ago, Garth told us that his blog’s comments section isn’t the place for sex/gender “discussion”? I do. Get over it.

*********

In thirty-four minutes, you go from a gay slur insinuation on Sail Away’s good character – and then tell Old Boot to shut up…trying to shut down debate. You, who must post more than any other voice.

My, aren’t you the conflicted little lefty.

M58BC

ps I love a good Reuben!

#48 Penny Henny on 06.28.22 at 6:44 pm

Make a brazillion in tax-free profit.-GT

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

Brazillion- def. Complete hair removal from down there

#49 Bullyon on 06.28.22 at 6:49 pm

Stocks down another day, 20% for the year.

Bullion flat on the year, so it has clearly outperformed stocks.

But the fed is increasing rates in an ongoing credit contraction = big stock market down action to come.

But be boring, take more losses…

The crazy it burns

#50 Nesty on 06.28.22 at 6:59 pm

“I care more about ‘lately’ than I do about 50 years ago.”

“Lately” (1980-2020) has been defined by a period of low or inexistent inflation. So comparing this “lately” to the current environment seems wrong in my opinion.

The closest inflation readings to the ones we currently have happened in the 70th. That is why I think what happened 50 years ago might offer an imperfect (yet valuable) clue as to what lies ahead for asset classes returns.

If by “lately” we understand the last year or YTD then gold is easily beating the major asset classes with the exception of broad commodities. See for yourself.

Total returns YoY: https://stockcharts.com/freecharts/perf.php?VOO,BND,TLT,IEF,SHY,GLD,DXP.TO,VEQT.TO,VCE.TO,PDBC&n=253&O=111000

Total returns YTD: https://stockcharts.com/freecharts/perf.php?VOO,BND,TLT,IEF,SHY,GLD,DXP.TO,VEQT.TO,VCE.TO,PDBC&n=120&O=111000

The two charts above show total returns (dividends and interest included): gold and commodities are the only ones with positive nominal returns.

“(And you neglected to include dividends or interest.) – Garth” I did not. I provided “total returns” in both real and nominal terms for the decade of the 70th. Those are not my numbers by the way; those numbers are Bridgewater ‘s.

PS: More important than the individual returns of gold are its diversifying qualities. It is misleading to look at gold as if gold was the only asset in the portfolio.

#51 Old Boot on 06.28.22 at 7:24 pm

“Goodbye Twitter. Technology addiction got the best of me. If you suspect it is getting the best of you, please seek help. It’s a real problem. It’s done a lot of damage in my life, don’t let it get yours.”

3 guesses as to which unhinged blog dog tweeted this cry for help.

#52 millmech on 06.28.22 at 7:41 pm

Here is hoping that bank stocks Amber Heard the bed and come down at least another 10%-20%.

#53 Faron on 06.28.22 at 7:53 pm

#47 VicPaul on 06.28.22 at 6:33 pm

Do try to keep up.

See those quotes around said slur? Yeah, those were Sail Away’s words. I’m rubbing his slander in his face.

Garth rather forcefully asked Old Boot we all STHU about sex/gender. I figured I’d remind them, but would be happy to go another round on that riveting topic. I’m sure Garth would love to moderate all the comments too. You first Paul.

#54 Elon Fanboy on 06.28.22 at 8:00 pm

#42 crowdedelevatorfartz. “I’ll take a witness testimony under oath over the pro Trump conspiracy theories’ any day.”

Never cared for the guy, but these outlandish Trump stories always get proved false down the road. But it doesn’t matter. The Meme is out there and the media gleefully runs with it.

Wonder if these guys will be allowed to testify again…?

“A source close to the Secret Service tells me both Bobby Engel, the lead agent, and the presidential limousine/SUV driver are prepared to testify under oath that neither man was assaulted and that Mr. Trump never lunged for the steering wheel.”

#55 Flop… on 06.28.22 at 8:04 pm

Flop Drops.

Vancouver detached continues to have some sort of spasm in the downward direction.

The details…

2710 E 1st Ave, Vancouver

Asking 1.58

Sold for 1.25

Assessment 1.32

So no looky, looky, inside, but what evs, it’s another sale below the current bottom of 1.4 in the city proper, above average lot size too.

So yeah baby steps, The Race To A Million is not on yet, maybe in the Autumn time.

So the prices will fall, in The Fall, makes sense…

M48BC

https://www.zealty.ca/mls-R2690249/2710-E-1ST-AVENUE-Vancouver-BC/

#56 Faron on 06.28.22 at 8:07 pm

#44 Shawn on 06.28.22 at 5:53 pm

Looks like I was wrong. Enjoy the triumph. It may be the only one to arrive in your little life for months. Perhaps years?

Note that I reated this discussion respectfully and you took it off the rails. I’m more than happy to be a dick to you if you treat me that way. Get it?

#57 Faron on 06.28.22 at 8:12 pm

#39 Sail Away on 06.28.22 at 5:17 pm
#24 Søren Angst on 06.28.22 at 3:57 pm

There’s a merkin/’murcan joke to be made somewhere in here.

#58 Victor Llearna on 06.28.22 at 8:21 pm

If inflation causes everything to go up, but stocks, houses crypto etc all go down, and salaries don’t increase, won’t eveyonre just be pooched eventually?

#59 Dragonfly58 on 06.28.22 at 8:25 pm

Nesty # 50. Low to nonexistent inflation 1980 – 2020 ? What planet were you living on ?
Granted the last 14 months or so have far exceeded the previous 40 but I can assure you there was variable from year to year, but very steady inflation for all of my working life. Mid 1970’s onward.

#60 baloney Sandwitch on 06.28.22 at 8:25 pm

Like they say – when you are going through hell – keep moving. Same is true for a bear market. It will end eventually.
We already know it’s taken an average of 21 months for the last 12 bear markets to breakeven from the bottom. But we don’t know if we have reached the bottom yet.
I agree this does not look like a big bad papa bears of the 70’s, 00-02, or 08-09. This appears to be more of a mama bear like in the 60’s and 80’s.

#61 DON on 06.28.22 at 8:28 pm

Who wants to be in Victoria when times turn tough.

My partner texted me from the downtown – “Shots fired”

Bank robbery and a shoot out. Hope all the police officers are ok. How much cash do local branches have onsite?

#62 Ustabe on 06.28.22 at 8:29 pm

#26 Sail Away on 06.28.22 at 4:08 pm

What’s up with the usual suspects throwing combative insults? Aren’t the blog topics economy and markets?

Hard to get too worked up about those.

Stay on topic, tigers.

And where, exactly, do your shaved dog posts fit in there?

I quote, for a fulsome take on the subject, something you seem incapable of.

Quote, from Google:

What dog breeds should not be shaved?
Dogs such as golden retrievers, German shepherds, Siberian huskies and any dog that seasonally sheds huge clumps of fur (part of its undercoat) should never be shaved. It is a misconception that shaving will help keep a dog cool on hot days. End Quote.

In fact you can give a dog with undercoat long term issues. Source: my wife, the retired veterinarian.

Sail Away’s take on wild mushrooms and now purebred dogs is remarkably bereft of critical thinking or substantive knowledge. You thoroughly brush, not shave. But shaving is faster, who has time to brush, eh?

#63 Satori on 06.28.22 at 8:37 pm

#4 YYC on 06.28.22 at 2:42 pm
Hopefully first?
—————
Dude, so 2020. First is over.

#64 Satori on 06.28.22 at 8:44 pm

#19 Observer on 06.28.22 at 3:32 pm
#8 Above The Law on 06.28.22 at 2:57 pm
Ghislaine Maxwell sentenced to 20 years in prison.

Jeffrey Epstein dead. Suicide.

Justice has been served. Case closed.

Right?

^^^^^^^^^^^^^^^
In answer to your question, it’s great that Maxwell got 20 years, but sad that the men involved in raping and abusing young girls got away with it. So, no. Justice was not served.

—————–
Absolutely, just another smack on women. Blame the women… and let the abusing men go, the men get to keep their anonymity and the men get to live to abuse another day.

This is why this stuff continues, blame the female for it all. Things will NEVER change until MEN stand up for their WOMEN, and stop excusing other men.

#65 Satori on 06.28.22 at 8:50 pm

#23 Elon Fanboy on 06.28.22 at 3:53 pm
#8 “Ghislaine Maxwell sentenced to 20 years in prison.
Jeffrey Epstein dead. Suicide.
Justice has been served. Case closed.
Right?”

Nope…I wanna know who their clients were? Why hasn’t that been discussed anywhere in the MSN? They’re not even asking.
———————-
Well, welcome to the patriarchal world.

Men don’t care, that you actually ask this …means we might be ‘snail’ paced evolving and changing as a species but it seems the majority just finger point the opposite sex for all the issues. Case closed a women takes the blame… burn her at the stake. This is some eye rolling crap if you ask me!

We didn’t. This thread is over. – Garth

#66 Ed on 06.28.22 at 9:21 pm

Shawn….What’s it gonna take for all-ya-all to move here?

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

Why do you want Eastern riff raff to move to our province? No upside…probably make us speak French & wear neck beards in a few years.

#67 fishman on 06.28.22 at 9:22 pm

You know gold is still in play because Nato wants to embargo Russian gold. You can tell its Russian gold because its redder. For real: they leave more copper in when smelting. As we speak gold bricks are hauled back & forth between Iran & Gulf States to square the books.
In Vietnam R/E deals are done with gold. Gold a prerequisite for Indian & Chinese weddings. And never forget the Romans said that “gold is the muscles of an army.” lil potato has puny muscles, & so goes his army. It would be hypocritical for me to advise buying gold. I never buy gold. I only sell. Thats what happens when you load up the safety deposit boxes on the cheap & then grow old.

#68 Ponzius Pilatus on 06.28.22 at 9:41 pm

#34 Fortune 8 1 on 06.28.22 at 4:47 pm
That is a very sad picture. Have you thought about feeding your dog?
—————————-
I had the same thought.
Bones showing on his rips.
Not good.

#69 shredder on 06.28.22 at 9:48 pm

yeah…so gold won’t make you rich but will prevent you from becoming poor.
can’t say that about housing, crypto, stocks, NFT etc.

#70 Ponzius Pilatus on 06.28.22 at 9:50 pm

32 Cowtown Cowboy on 06.28.22 at 4:41 pm
Looks like John Horgan has stepped down, as much as I despise the ideology, I respect the commitment. Looks like the cancer treatments have taken a toll and he needs to look after himself. Hopefully he gets some rest and lives to fight many more days.
——-+——————————
Yes, too bad.
Another good and honest public servant throws in the towel.
He would have made a good Prime Minister.
But, that’s life.

#71 Nesty on 06.28.22 at 9:54 pm

#59 Dragonfly58 on 06.28.22 at 8:25 pm

Nesty # 50. Low to nonexistent inflation 1980 – 2020 ? What planet were you living on ?
Granted the last 14 months or so have far exceeded the previous 40 but I can assure you there was variable from year to year, but very steady inflation for all of my working life. Mid 1970’s onward.

—————-
Same planet as the federal reserve it seems. For your benefit:

https://www.federalreservehistory.org/essays/great-inflation

1970s = High Inflation
1980s = Falling Inflation (aka Disinflation)

It continued to disinflate with the occasional spikes after the 80ths.

#72 Ponzius Pilatus on 06.28.22 at 9:56 pm

Musk as been awfully quite these days.
Did his shoe finally got stuck in his mouth?

#73 crowdedelevatorfartz on 06.28.22 at 10:06 pm

@#55 Floppie
“The Race To A Million is not on yet, maybe in the Autumn time.”
+++
Hilarious.
A “race to a million”……. in the downward direction.

#74 Armpit on 06.28.22 at 10:08 pm

Got the Canada Flag Ready to be anchored to your shop, Garth?

#75 Doug t on 06.28.22 at 10:11 pm

When this “inflation/housing correction/Ukraine war/American insurrection/Elon musk/woke culture/Jeff bezos/T2 etc etc etc comes to and end ? MAYBE MAYBE we have a chance lol

#76 Dragonfly58 on 06.28.22 at 10:13 pm

Shawn, sure am thinking about it.

#77 crowdedelevatorfartz on 06.28.22 at 10:15 pm

@#61 Don
“Bank robbery and a shoot out. Hope all the police officers are ok.”
+++
Yeah the two dead bank robbers apparently didnt realize….the bank was only a few minutes from….the Saanich police station.

I’m certain this will mean more new rules and bans for legal gun owners…..only if we’re ‘Lucki”
Liberal smoke and mirrors.

#78 crowdedelevatorfartz on 06.28.22 at 10:17 pm

@#51 Old Boot
“3 guesses as to which unhinged blog dog tweeted this cry for help.”
+++
Ahahahaha.
Good one.

#79 Shane Blackwood on 06.28.22 at 10:19 pm

False you say? Or just uncomfortable fact?

https://globalnews.ca/news/8517110/canada-special-forces-ukraine-russia/

No sane person can imagine Justin Trudeau as a war leader. Apology please.

You missed the part about them being pulled back. No fight. Try to keep up. – Garth

#80 Russ on 06.28.22 at 10:32 pm

Faron on 06.28.22 at 2:20 pm

#122 Sail Away on 06.28.22 at 12:28 pm

The best place serves a proper egg-infused Monte Cristo with sliced roasted chicken, plus fantastic homemade onion rings.

Also the best Reubens.
================

Sounds “light…” to me. Shrug.

————————————–

Where is this great Rueben?

It is my favourite sandwich and I will appreciate knowing where to find the best one in Nanaimo,
(and on the search for the close cousin, Montreal smoked meat sandwich)?

Cheers, R

#81 Jamessen on 06.28.22 at 10:36 pm

The term aphorism originates from late Latin aphorismus and Greek aphorismos.
https://apostrraff548.com
Guy standing at a bookshelf
It originally read, Count not they chickens that unhatched be…
But Yoda isn’t having it.
Picture of Benjamin Franklin and a caption that says “Aphorist Extraordinaire”
Want a few more.
It meant that the person was versatile and adept at many things.
As they say, Nothing ventured, nothing gained.
They’re inspirational quotes.
But, the aphorism is short and sweet.
It originally read, Count not they chickens that unhatched be…
Check it out.
Yup, you guessed it.
Shifting gears a little, let’s talk about one of the world’s greatest aphorists – Benjamin Franklin.
Finally, All things come to those who wait is a good aphorism we’re all familiar with.
From there, you can build your story around it.

#82 the jaguar on 06.28.22 at 10:38 pm

Tornado warnings flashing on all screens right now in my hood. ‘Steady lads, hold the line’ indeed.
Hang on Strathmore and environs….
Makes the slam up against the boards by the usual suspects seem like childs play….mama mia.

#83 Diamond Dog on 06.28.22 at 10:39 pm

I’d like to revisit an important question once asked in the past, how sensitive are treasuries to rate hikes? The reason why this is important to know is because boring short term treasuries determine how sensitive debt service is to the Fed rate. The higher the sensitivity, the less flexibility there is for the Fed to raise rates.

First, lets jump into U.S. treasury definitions:

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

Technically, all treasuries are bonds since the are forms of debt collateralized by the U.S. government but the distinctions between notes and bills are lengths of maturity. T bonds have the longest maturities, notes have between 2 and 10 year maturities and T bills have the shortest duration’s from 4 to 52 weeks.

After looking at the pie of some $23 trillion in treasuries there is roughly $4.9 trillion in T bills and another classification of bonds (classification unclear, repo market?) with durations of 2 years or less and added those in to $5.6 trillion for easy math.

There is also slightly more than $11.5 trillion in notes with duration’s of 2, 5, 7 and 10 years. I could not find the breakdown of how many trillion each term had outstanding after 2 hours of search and gave up (not the first to do this and strike out either). However, if it was all in roughly equal shares of $12 trillion, $3 trillion (2 year notes) + $5.6 (T bills) we are looking at $8.6 trillion out of a 23 trillion pie = 37.4%. This percentage does not include the 5, 7 and 10 year notes or long term bonds up for renewal over the next 2 years. If we do this, the number easily grows to 10 trillion or greater. $10 trillion bumps the number up to 43.5% ball park that is rate sensitive with maturities of 2 years or less.

If 43.5% is ballpark, if yields rise in tandem with a 4% rise in the Fed rate over say 2 years, debt service would go up on roughly $10 trillion or by $ 400 billion or so annualized.

One should caution that when the Fed raises it’s rates, this creates more demand for 2 year notes than 10 year in part because of it’s cheaper rates and in part because of availability. Thus, higher rates lead to shorter term maturities. This is also why we never see 2 and 10 year yield curves invert with the Fed lowering rates, it always happens when the Fed rate is rising (and thus a big part of why inverted yield curves trigger recession, it’s due to tighter credit conditions).

There is also a risk of a credit crisis in housing or banking in 2 years or so as a consequence of sustained higher Fed rates, or a currency crisis from 2024 on, maybe sooner that could push the pace of bond yields higher than Fed rate hikes depending on how risk plays out so yeah, these number scenarios matter especially when the U.S. Federal government is running structural deficits nearing 2 trillion annually. It’s near 8% of GDP as it is, an ugly number. A Fed rate at 4% and staying there pushes Federal deficit’s closer to 10% of GDP and there’s the rub.

Point is, U.S. federal debt to GDP ratios increasing to 10% a year are clearly unsustainable. It’s unsustainable at 8%. (probably 5 within this decade) At 8%, U.S. debt to GDP ratios on taxable income (Fed & state debt) will blow past 200% debt to GDP by 2030. That’s not going to happen with a debtor nation like the U.S. . What we are witnessing is a plausible end of a world superpower due to a seriously weakened currency that can’t recover, or witness to a major economic disruption of public debt within one in this decade.

If the U.S. doesn’t remain the dominant world superpower, then who fills the void? China? Their rise is the result of a property bubble, the largest in the world putting Japan’s property bubble in the late 80’s to shame and it’s imploding. China is not a lock. Europe? Another dog with fleas. If Europe returned to peace and Russia became a true democracy flushing out Soviet mentality that is quite frankly sociopathic, Europe could do it but this is years if not decades away.

This comment is already too long, but we haven’t even begun to talk about the biggest threat civilization faces when it comes to Fiat currencies. Everything is dependent on growth, specifically credit growth. What would take this growth away? The other side of the mountain of peak people. We haven’t heard this expression but we have top U.S. government officials ringing the alarm of potential shortage of stuff to eat in 2022. Is it the noise of war or are inventories really that low? (readers take note, the North American bread basket is getting rains) Drought, floods, war, the 4 horsemen, sure its possible. We can’t spend our lifetimes worrying about it, but we should take note of our own recency bias’s, it is possible.

To summarize, humanity is flawed. We live in an age for example where male sperm counts have dropped by nearly 60% over 40 years, an alarming trend (2017 data below, it’s got to be over 60% now). There was a recent study with forever chemicals connecting these dots to lower sperm counts, concentrating on suppressed immune system response. This study just came out explaining why industrialized nations in theory, had greater difficulties fighting Covid then less developed nations. The numbers are ugly:

https://www.independent.co.uk/news/science/sperm-count-west-men-health-drop-60-per-cent-years-modern-life-

The U.S. supreme court pushes back on the Federal government’s own ability to even regulate chemicals for example, but is pro life, banning abortions and making plans to look at contraception bans. (the affluent won’t go without btw, it should be said) Do readers see the disconnect? The Supreme court cares about corporate profits and election cycles but do Conservative justices really care about life? They sure haven’t over the last 30 years when it comes to regulation of industry.

We have human constructs of value in the form of Fiat currencies that rely on never ending growth and yet, our economic formula’s don’t account for environmental degradation. Do readers see the disconnect?

We just saw a 3 trillion dollar rise in Crypto market cap for example (now less than a trillion) of a sector totally unregulated and viewed by more than some as a Ponzi/pyramid scheme. Crypto has no intrinsic value and relies on “confidence” i.e. greater fools to keep it going. It’s full on gambling get rich quick mentality fueling it’s existence, hypocritically exploiting Fiat currency flaws so investors and Crypto creators can cash in on their exploits in a race to put their Crypto back into Fiat before it blows up!

Meanwhile, it’s posited that 2 trillion invested in solar can generate enough power to electrify AND heat U.S. homes with enough left over to power all of U.S. transportation once electrified. If this number fleshes out, can anyone say with a straight face that we have our priorities straight, do readers see these disconnnects?

https://www.youtube.com/watch?v=Kj96nxtHdTU&t=2129s

70 million homes x $ 30,000 U.S. for roof top solar = $ 2.1 trillion “without” government subsidies, just saying.

#84 Eve on 06.28.22 at 10:40 pm

“ I care more about ‘lately’ than I do about 50 years ago…” – Garth” RE: #40 Nestor on 06.28.22 at 5:23 pm

It is contradictory for you to care about RE in 1989 but not to care about inflation in the 70ths. It is contradictory that you draw parallels to the present time for one (Re/1989) and not the other (inflation/70ths). What am I missing? How is one relevant and not the other?

“Speaking of 1989, that’s when the housing market swooned after a period of crazy speculation and outsized price gains met an unexpected tightening cycle by the central bank. Sound familiar?

It’s worth knowing what happened. Valuations peaked in ’89 as sales levels started to crumble. The bottom did not come until four years later – 1993. The decline in average prices was about 30%. It then took another nine years (until 2002) for prices to be restored – not counting the cost of living. So, any family buying in the late 80s would need to wait 13 years to break even on paper, while still taking a loss after inflation, closing costs and commission.” GreaterFool – June 10th, 2022

Out of context. Meaningless. – Garth

#85 Sail Away on 06.28.22 at 10:51 pm

#79 Russ on 06.28.22 at 10:32 pm

Where is this great Rueben?

It is my favourite sandwich and I will appreciate knowing where to find the best one in Nanaimo,
(and on the search for the close cousin, Montreal smoked meat sandwich)?

Cheers, R

———–

The Oxy. Milton Street’s is ok, but the Oxy’s is better.

#86 Faron on 06.28.22 at 10:52 pm

#51 Old Boot on 06.28.22 at 7:24 pm

Absolutely mine and you are disgusting for exploiting it.

Between my work, Twitter and commenting here I have left little time for personal commitments and obligations and have suffered for that. That tweet was my last and is an effort at change and improving how I live my life. Several commenters here write more frequently to comments than I do and with very similar patterns which has obvious implications.

You are a disgusting person for stalking me and digging that out and then using it to try to score points with the droolers here after being told by Garth to deposit your TERF-ey garbage elsewhere.

Fighting addiction doesn’t make me slime. Making fun of those who are engaged in that fight makes you sub-human. Not a surprise though from a person who sees being trans as a reason to render that person voiceless.

#87 TurnerNation on 06.28.22 at 11:19 pm

I have renewed my subscription to this weblog, for the princely consideration of one peppercorn.


A reminder that no amount of Leftism or Kommunism is safe for consumption:

https://thinkpol.ca/2022/06/24/fractional-investing-how-the-dream-of-homeownership-for-a-dollar-became-a-nightmare-for-tenants/
What’s unique about this case is that a Canadian crowdfunded real estate platform addy is criticized for being QMW Corp’s partner. RenovictionsTO tells ThinkPol that addy is offering people priced out of home ownership a chance to invest in real estate, only to have them invest in renovictors like QMW and make tenants suffer.

#88 Eve on 06.28.22 at 11:23 pm

#84 Eve on 06.28.22 at 10:40 pm

“Out of context. Meaningless. – Garth”

Context: from my point of view it looks as if you have “selective” recency bias.

Or maybe I am truly missing something you see but I fail to grasp.

#89 Dr V on 06.28.22 at 11:27 pm

5 lurker

“If you look at the ZBAL chart the gain is exactly 0 from late 2019 until today… Went up nicely and came zooming down the train. Zero gain over 2.5 years. One would have had the same outcome from putting it under a mattress for the last 2 years.”
——————————————————–

Hi lurker. I’m not sure if you’re complaining about this B&D etf or not. I confirm that my fund has a similar price history. So your choice of fund was no worse than many of them.

Just a few points that may apply

1) ZBAL is not that old is it? Did you take investments that had decent gains until you put them in ZBAL? Your book cost should be re-set at that time.

2) Did you continue to contribute thru the dark days of the epidemic? And did the government add their share?

3) Did you receive dividends/distributions during this time? They are added to your book cost if they are re-invested.

4) Did you start withdrawing anything from the fund as it rebounded from the bottom? Easy just to take a k or two now and then and put in cash to lock in any gains.

If you look at 1, 2 and 3, you may still have a good gain from your net investment in there. Sorry if you missed number 4, sometimes it works.

#90 Russ on 06.29.22 at 12:10 am

Sail Away on 06.28.22 at 10:51 pm

#79 Russ on 06.28.22 at 10:32 pm

Where is this great Rueben?

———–

The Oxy. Milton Street’s is ok, but the Oxy’s is better.

—————————————

Thanks.

This Friday might be my turn to cook and it’s been almost two years since we’ve bin to the Oxy.

.

#91 CowtownCowboy on 06.29.22 at 12:27 am

#66 Ed on 06.28.22 at 9:21 pm
Shawn….What’s it gonna take for all-ya-all to move here?

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

Why do you want Eastern riff raff to move to our province? No upside…probably make us speak French & wear neck beards in a few years.

Amen..

#92 Dr V on 06.29.22 at 12:41 am

61 DON

“Bank robbery and a shoot out. Hope all the police officers are ok. How much cash do local branches have
onsite?”
———————————————————

Extremely unsettling events, and prayers for officers
hurt. But I had basically the same question. Who still robs banks? Doesnt seem very effective in the age of electronic transfers. Kinda puzzling.

#93 Dr V on 06.29.22 at 12:52 am

85 Sailo

“The Oxy”
———————————————————–

Wow. The Oxy. Shortened from the “Occidental” hotel. Only remember being there probably 30 years ago and I dont recall if they served food then. Fitzwilliam street was one of two main routes from Harewood into town so I passed it regularly as a youngster.

#94 Dr V on 06.29.22 at 12:56 am

Faron – I may be one of the better barometers for your comments.

If I say “take a break” it could be a good time for you to do so. At those times I’m sure you can be more
constructive pursuing other activities for awhile.

Please, take a break.

#95 crowdedelevatorfartz on 06.29.22 at 1:26 am

@#86 Faron
Drinking , typing and drinking again?
Just say no.

#96 Jane24 on 06.29.22 at 1:50 am

Yes we have the same first world problem – too much cash in the bank earning literally nothing. Our solution is a new bathroom and extension on a too small rental we have and some cruises. Costs of building work that shot up recently here in the UK is now coming down due to folk tightening their belts. We are in our 70s and excess cash here when you croak only attracts inheritance tax. It must be spent. Job done.

Plus we are moving our main residence to Sardinia for the new Italian 7% on world-wide income tax dodge. Scheme open to all non-Eu residents. Our recent trip there confirmed that 1500 euros a month will allow us the fabled king-like living without a winter so we have saved far too much over our sad and cold Canadian lives. Forget B&D, we are now spending.

#97 Shane Blackwood on 06.29.22 at 6:32 am

Re: # 79

Garth, the fact is Trudeau had them there in the first place and “had to pull them out”. Even a momentary war play can lead to war. Doesn’t this remind you of Trudeaus knee jerk snap deploying the troops here for his aborted Emergencies Act?

How do you justify your continued support of Trudeau when time and time again he has to be pulled back from the brink. The question is “ Who pulled Trudeau back”? And how was it “ pulled out” so quickly that even Trudeaus own media weren’t informed?

I support the truth and ethics, not a political doctrine. We have no troops in the war. – Garth

#98 maxx on 06.29.22 at 7:08 am

@ #18

It’s called an advisory team Einstein, the whole most definitely being greater than the sum of its parts.

#99 earthboundmisfit on 06.29.22 at 7:47 am

Alberta boasts $3.9B surplus. Dollars to donuts says they piss it all away ….. AGAIN.

#100 Steven Rowlandson on 06.29.22 at 7:53 am

When the electricity and internet goes down guess what happens to bullion? It does not disappear into thin air like electronic fiat and cryptos would….The risk factor is thieves of various types which is why weapons are essential to have. Being your own central bank means you need to be your own government….
Like a lot of things it is an all or nothing deal.

Bullion is not a medium of exchange. In other words, it buys no food, no gas, no ammo for your dark world. – Garth

#101 Ponzius Pilatus on 06.29.22 at 8:11 am

#96 Jane24 on 06.29.22 at 1:50 am
Yes we have the same first world problem – too much cash in the bank earning literally nothing. Our solution is a new bathroom and extension on a too small rental we have and some cruises. Costs of building work that shot up recently here in the UK is now coming down due to folk tightening their belts. We are in our 70s and excess cash here when you croak only attracts inheritance tax. It must be spent. Job done.

Plus we are moving our main residence to Sardinia for the new Italian 7% on world-wide income tax dodge. Scheme open to all non-Eu residents. Our recent trip there confirmed that 1500 euros a month will allow us the fabled king-like living without a winter so we have saved far too much over our sad and cold Canadian lives. Forget B&D, we are now spending.
—————————
Like a modern “Zigeuner”, sorry Roma.

#102 Johnny Debt on 06.29.22 at 8:17 am

#83 Diamond Dog

Thank you for your comment, and for showing your work.

It does not read to me like you have confidence going forward about FIAT, and debt is your logical reason.

I feel the same way.

.com bubble was one. Debt was an issue.

GFC follows, caused by debt. Huge amount of liquidity and QE along with emergency rates for over a decade.

How do we solve for GFC? More debt? More by individuals, nations, etc.

Just as it appears the whole thing is coming to a gridnding halt, we get Covid – and what a lovely reason it is to drop 20T (30T, 40T…who knows) on the “democratic, developed western economies”. And so they do. More debt results.

This last hit was so big, in my mind the only thing that can be bigger and can distract the sheeple will be an all out world war.

Otherwise, this pile of debt clearly is not sustainable and is never intended to be paid off/resolved/decrease.

How do you see this debt unwinding? …when no one is willing to tolerate the actions that are required to address it?

#103 James on 06.29.22 at 8:20 am

What’s wrong here?

Barely 30% of the comments here are by or about Faron and crowdedelevatorfecalmatter.

Can’t we get this to at least 50%?

Then everyone else who is sane will feel fine just reading Garth’s posts.

Think of the time saved that could be used for B&D investing!

#104 IHCTD9 on 06.29.22 at 8:22 am

#94 Dr V on 06.29.22 at 12:56 am
Faron – I may be one of the better barometers for your comments.

If I say “take a break” it could be a good time for you to do so. At those times I’m sure you can be more
constructive pursuing other activities for awhile.

Please, take a break.
_______

Some good advice above F, I’d also suggest there is something else going on besides “technology addiction” that could be worth looking into.

#105 crowdedelevatorfartz on 06.29.22 at 8:31 am

Is a religious pogrom about to explode in India?

https://www.reuters.com/world/india/police-northwest-india-ban-public-gatherings-suspend-internet-after-hindu-slain-2022-06-29/

Two Muslims arrested for the slaying of a Hindi have ramped up tensions in India.

The pro Hindi ruling BJP govt has never been shy of whipping up religious fervor to attract votes.
Lets hope in a country of 150 million Muslims and 800 million Hindis that things don’t spiral out of control.

#106 the Jaguar on 06.29.22 at 8:32 am

Snippets……….(He could be unstoppable. Maybe this is a ‘lesser of two evils kind of thing? )

Despite years of Tory orthodoxy that they could only win government with a centrist in charge, polls show a Canada that seems to be warming to a Conservative party led by hardliner Pierre Poilievre.

Poilievre — the 43-yearold Calgary-raised MP representing the Ottawa-area riding of Carleton — has been the clear front-runner for Conservative leader since the race began in February. While moderate support has generally coalesced around former Quebec premier Jean Charest, there hasn’t been one poll thus far that hasn’t seen Poilievre in a commanding lead.

While Poilievre was still despised by stalwart Liberals and Ndpers, he was the blowout favourite among a demographic of conservative voters who in recent elections have been inclined to stay home on Election Day — or to lodge a protest vote with the People’s Party of Canada.
Poilievre was also the favourite among voters inclined to go for the Bloc Québécois.
An Abacus Data poll this week had the Conservatives at 34 per cent against just 30 per cent for the Liberals; not a huge lead, but enough to put Tories in the realm of potentially forming government.

#107 crowdedelevatorfartz on 06.29.22 at 8:35 am

@#99 earth calling
“Alberta boasts $3.9B surplus.”
+++
Peanuts.
The nurses or the teachers unions could eat that surplus up in one year of wage hikes.
Or another Calgary “once in 500 year” flood.
Call us when it’s $390 billion.

#108 Gail on 06.29.22 at 8:36 am

Some survey done by HOOP finds Canadians especially younger Canadians are finding it harder to save for retirement due to higher inflation, interest rates. Look how far Canadians have become not too smart when it comes to saving and money, budgets. Interest rates are rising and this makes it easier to save for retirement and saving in general. You have RRSPs, TFSAs that keeps your taxes away while your working and makes it grow inside these tax advantaged plans.
I have 2 part-time jobs, 52 hours a week making not much more than the minimum wage, $16.10 an hour my current wage here in Oshawa. I am able to save currently $5 an hour from my pay cheque. I have been working only 3 years now and already have $37,000 at age 22. It is 65% in RRSPs, 35% in TFSAs. This was done before interest rates have gone up this year from 2.5% GICs to 4.5% GICs now. It is not that hard, I don’t know what is wrong with Canadians these days. My co worker has 3 kids, her husband and herself works many part-time jobs as well making little more than me are able to pay all their bills and raise their kids and still save $2,000 a month on average.

#109 Nesty on 06.29.22 at 8:59 am

“Bullion is not a medium of exchange. In other words, it buys no food, no gas, no ammo for your dark world. – Garth”

China established a mechanism for indirectly trading oil using gold [1]. In this sense, gold is a medium of exchange that allows bypassing the US dollar hegemony in oil contracts.

This is not to be underestimated as China is the biggest oil importer and allows the likes of Russia and Iran to bypass Western sanctions. All with gold’s backing.

It doesn’t take much imagination to see how this could be expanded to back other commodities in gold; hence making gold a medium of exchange by big players like the 2nd largest world economy.

[1] The article below predates the system implemented by china that’s now fully functional.

https://asia.nikkei.com/Economy/China-sees-new-world-order-with-oil-benchmark-backed-by-gold

Irrelevant. You’re not China. – Garth

#110 Old Boot on 06.29.22 at 9:00 am

#86 Faron on 06.28.22 at 10:52 pm

#51 Old Boot on 06.28.22 at 7:24 pm

Absolutely mine and you are disgusting for exploiting it………………………..
Ksiri4jq9dkdmfnfiaiwodoa9e939witmcmaka!!!!

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

I’m not a social media doctor but if you find that you have to squeegee the spittle off your screen every 5 minutes, maybe social media isn’t the problem.

#111 TurnerNation on 06.29.22 at 9:09 am

A reminder that this Control over our Travel/Movement is permanent. A global bio-security state under permanent electronic lockdown. See: China. And USA. (to cross the border you still must show a QR code.
This is permanent in the Former First World Countries — by design. )

“France Planning to Set Up a Border Health Pass Requirement, Leaked Draft Bill Reveals”
https://www.schengenvisainfo.com/news/france-planning-to-set-up-a-border-health-pass-requirement-leaked-draft-bill-reveals/

.Mother spends ‘awful’ night on Toronto Pearson floor with young kids, baby amid Air Canada delays (cp24.com)

— Comrades: the decadent First World Luxuries must go, for the ‘climate’.
This includes travel, too.

https://www.cp24.com/news/experts-caution-against-becoming-air-conditioned-society-as-heat-waves-get-hotter-1.5962961

#112 Dharma Bum on 06.29.22 at 9:12 am

#97 Shane Blackwood

The question is “ Who pulled Trudeau back”? And how was it “ pulled out” so quickly that even Trudeaus own media weren’t informed.
———————————————————————————————————-

I think that maybe Dougy Ford paid someone to send some henchman down to pull the troops out under the cover of night because he needs them back in Ottawa (it is in Ontario, after all) to stand off against the new and improved Freedom Rally coming to Ottawa this Canada Day Weekend.

Honk Honk!

Those were fun times, evoking the true colours of our heinous, power hungry dictator, I mean prime minister.

#113 crowdedelevatorfartz on 06.29.22 at 9:22 am

@#110 Old Boot
“if you find that you have to squeegee the spittle off your screen every 5 minutes,”
+++
I just cleaned coffee off my screen….

#114 millmech on 06.29.22 at 9:39 am

Crypto exchange Coinflex halts redemptions due to liquidity issues, solves liquidity issues by issuing a new coin that pays 20% interest. Crypto can not fail as when one goes down another takes it place.
https://www.cnbc.com/2022/06/28/coinflex-issues-new-coin-to-raise-funds-after-investor-fails-to-pay-debt.html?&doc=107082416

Also starting to receive emails from realtors about “new listings” that are up to 30% lower than original price, houses in areas of interest now popping up around 400k.
Bunnypatch is starting it get cheap again, once interest rates hit 8% the trickle will be a torrent.

#115 Dharma Bum on 06.29.22 at 9:40 am

#108 Gail

It is not that hard, I don’t know what is wrong with Canadians these days.
——————————————————————————————————

CERB
Tik Tok
Facebook
Twitter
Instagram
YouTube
WhatsApp
Snapchat
Texting
Reality TV
WFH
Wokeism
Porn
Low Self Esteem
Shallowness
Lack of practical education
Fake news
Influencers
CBC
Academia
iPhones
FOMO
Decreased Physical Activity
Poor nutrition
Internet Addiction
Poor Concentration
Video games
Weed
Opioids
Fentanyl
Body image
Work ethic
Netflix
Climate change obsession
Alcohol
Clubs
Lack of discipline
Easy credit
Drake
Justin Bieber
Tim Hortons
Obesity
Piercings
Emojis
Kardashians
Pseudofeminism
Virtue signalling
Entitled outrage

Sorry…I gotta go.

#116 DON on 06.29.22 at 9:40 am

#110 Old Boot on 06.29.22 at 9:00 am
#86 Faron on 06.28.22 at 10:52 pm

#51 Old Boot on 06.28.22 at 7:24 pm

Absolutely mine and you are disgusting for exploiting it………………………..
Ksiri4jq9dkdmfnfiaiwodoa9e939witmcmaka!!!!

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

I’m not a social media doctor but if you find that you have to squeegee the spittle off your screen every 5 minutes, maybe social media isn’t the problem.

********

Grow up.

That’s no way to win a debate.

#117 Faron on 06.29.22 at 9:45 am

#94 Dr V on 06.29.22 at 12:56 am
Faron – I may be one of the better barometers for your comments.

If I say “take a break” it could be a good time for you to do so. At those times I’m sure you can be more
constructive pursuing other activities for awhile.

Thank you for your measured advice. We all could absolutely better spend our time elsewhere. I’ll remind you and everyone that I’m not the most frequent commenter by far. But I am the most frequently commenting lefty and as Don Guillermo and Shawn demonstrated yesterday, that invariably leads to me being personally attacked when people don’t like what I have to say. Once that happens, the gloves are off. Never before.

I absolutely will respond when I see trash written here. Sail Away’s, Old Boot’s or whomever’s. Their views are utterly toxic and fringe on the stuff that leads to violence against others. That is not okay and never will be.

#118 Sail Away on 06.29.22 at 9:46 am

Good work, Old Boot. You may have successfully killed the gremlin. Respect.

Be alert to obsessive revenge stalking.

#119 Canadian Patriot on 06.29.22 at 9:46 am

@#86 Faron on 06.28.22 at 10:52 pm
#51 Old Boot on 06.28.22 at 7:24 pm

Absolutely mine and you are disgusting for exploiting it.

Between my work, Twitter and commenting here I have left little time for personal commitments and obligations and have suffered for that. That tweet was my last and is an effort at change and improving how I live my life. Several commenters here write more frequently to comments than I do and with very similar patterns which has obvious implications.

You are a disgusting person for stalking me and digging that out and then using it to try to score points with the droolers here after being told by Garth to deposit your TERF-ey garbage elsewhere.

Fighting addiction doesn’t make me slime. Making fun of those who are engaged in that fight makes you sub-human. Not a surprise though from a person who sees being trans as a reason to render that person voiceless.

——–

old boot is a classic internet coward.

#120 Faron on 06.29.22 at 9:47 am

#104 IHCTD9 on 06.29.22 at 8:22 am

Thanks. Honest questions: what are you referring to? What is your expertise? And why should I listen to you?

#121 Faron on 06.29.22 at 9:51 am

#95 crowdedelevatorfartz

You comment here more than an admitted internet/tech addict. Look in the mirror.

#122 cropgrower on 06.29.22 at 10:00 am

Huh? 5 year non registered GIC invested at 5%, pays out interest yearly, and goes into my chequing account……that’s income…….

Depends on the institution. Some pay upon maturity only. In any case, a once-a-year taxable interest pittance is not exactly ‘income’. – Garth

#123 Faron on 06.29.22 at 10:01 am

#110 Old Boot on 06.29.22 at 9:00 am

You are a terrible person. You know it and you have to live with it. Sorry.

#124 Well Said on 06.29.22 at 10:28 am

#110 Old Boot on 06.29.22 at 9:00 am
#86 Faron on 06.28.22 at 10:52 pm

I’m not a social media doctor but if you find that you have to squeegee the spittle off your screen every 5 minutes, maybe social media isn’t the problem.

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

Absolutely. The sense of personal responsibility for ones actions so completely lacking, and the self-absorption so total that he actually believes he’s the vicim of…his voluntary posting comments publicly on the internet. Of course online bullying is wrong. But no way he gets to claim he doesn’t exactly how the Twitterverse works. Not saying it’s right, it’s horrible. But for someone always flaunting his supposed intelligence and science and tech savvy it’s pretty effing stupid to overshare. “Ooh! Ooh! Victim-blaming!” I can hear it already. Spare us. At some point you have to take a shred of responsibility for your part in an exchange.

And there’s no chance he will stop. He will say he will, over and over, and then be back 5 minutes later, his massive yet fragile ego demands it.

F you’re not a technology addict just a narcissist who can’t ever believe you’re wrong about – anything. Technology is just the enabler. Stop blaming everything and everyone else but yourself and maybe you have a chance of being happier.

The rest of us sure would be.

#125 T Rex and the dinosaur clique on 06.29.22 at 10:38 am

RE: #105 crowdedelevatorfartz on 06.29.22 at 8:31 am

Is a religious pogrom about to explode in India?

https://www.reuters.com/world/india/police-northwest-india-ban-public-gatherings-suspend-internet-after-hindu-slain-2022-06-29/

Two Muslims arrested for the slaying of a Hindi have ramped up tensions in India.

The pro Hindi ruling BJP govt has never been shy of whipping up religious fervor to attract votes.
Lets hope in a country of 150 million Muslims and 800 million Hindis that things don’t spiral out of control.

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

There is a lot of history involved in this, going back to the time of the British Raj which lasted from 1858 to 1947.

The Muslims vs Hindus conflict is as old as the hills.

It usually flares up in the summer months. A pogrom is unlikely. However, this is a conflict that will never go away.

#126 Satori on 06.29.22 at 10:43 am

#108 Gail on 06.29.22 at 8:36 am
Some survey done by HOOP finds Canadians especially younger Canadians are finding it harder to save for retirement due to higher inflation, interest rates. Look how far Canadians have become not too smart when it comes to saving and money, budgets. Interest rates are rising and this makes it easier to save for retirement and saving in general. You have RRSPs, TFSAs that keeps your taxes away while your working and makes it grow inside these tax advantaged plans.
I have 2 part-time jobs, 52 hours a week making not much more than the minimum wage, $16.10 an hour my current wage here in Oshawa. I am able to save currently $5 an hour from my pay cheque. I have been working only 3 years now and already have $37,000 at age 22. It is 65% in RRSPs, 35% in TFSAs. This was done before interest rates have gone up this year from 2.5% GICs to 4.5% GICs now. It is not that hard, I don’t know what is wrong with Canadians these days. My co worker has 3 kids, her husband and herself works many part-time jobs as well making little more than me are able to pay all their bills and raise their kids and still save $2,000 a month on average.
————————————-
What is wrong: Living off mom and pops and that is ok, no push out of the nest. Going out, eating out, going on trips, clothes, cars, out for daily afternoon meals…but don’t worry about them. You got this and that’s all that matters.

It is ridiculous though. In the eighties I graduated with $18,000 in savings from ‘odd’ jobs.

There will come a day when you will be asked to ‘help someone out’ – don’t save anyone from lessons they need to learn in life… that only delays the eventual.

#127 Quintilian on 06.29.22 at 10:47 am

Why Garth, why,would you allow a couple nutbars ruin your blog?

Did your scroll wheel rupture? – Garth

#128 Satori on 06.29.22 at 10:48 am

#101 Ponzius Pilatus on 06.29.22 at 8:11 am
#96 Jane24 on 06.29.22 at 1:50 am
Yes we have the same first world problem – too much cash in the bank earning literally nothing. Our solution is a new bathroom and extension on a too small rental we have and some cruises. Costs of building work that shot up recently here in the UK is now coming down due to folk tightening their belts. We are in our 70s and excess cash here when you croak only attracts inheritance tax. It must be spent. Job done.

Plus we are moving our main residence to Sardinia for the new Italian 7% on world-wide income tax dodge. Scheme open to all non-Eu residents. Our recent trip there confirmed that 1500 euros a month will allow us the fabled king-like living without a winter so we have saved far too much over our sad and cold Canadian lives. Forget B&D, we are now spending.
———————-
Good for you! :D Living the Life! :) Love it!!
Hmm, wonder does gifting money also incur a tax in the UK?

#129 Ponzius Pilatus on 06.29.22 at 10:59 am

#105 crowdedelevatorfartz on 06.29.22 at 8:31 am
Is a religious pogrom about to explode in India?

https://www.reuters.com/world/india/police-northwest-india-ban-public-gatherings-suspend-internet-after-hindu-slain-2022-06-29/

Two Muslims arrested for the slaying of a Hindi have ramped up tensions in India.

The pro Hindi ruling BJP govt has never been shy of whipping up religious fervor to attract votes.
Lets hope in a country of 150 million Muslims and 800 million Hindis that things don’t spiral out of control.
——————————
This has been going on ever since the Brits left Inda.
You just found that on Google?

#130 Doing my Part on 06.29.22 at 11:01 am

I’m surprised many want to “cancel” the posters that the many feel don’t fit in the societal norms with their writing on the blog.
Why not tolerate, learn from it, be entertained by it, or scroll baby scroll.
Isn’t this blog a cross section of society, this is the world we live in, get used to it.

#131 Ponzius Pilatus on 06.29.22 at 11:11 am

128 Satori on 06.29.22 at 10:48 am
#101 Ponzius Pilatus on 06.29.22 at 8:11 am
#96 Jane24 on 06.29.22 at 1:50 am
Yes we have the same first world problem – too much cash in the bank earning literally nothing. Our solution is a new bathroom and extension on a too small rental we have and some cruises. Costs of building work that shot up recently here in the UK is now coming down due to folk tightening their belts. We are in our 70s and excess cash here when you croak only attracts inheritance tax. It must be spent. Job done.

Plus we are moving our main residence to Sardinia for the new Italian 7% on world-wide income tax dodge. Scheme open to all non-Eu residents. Our recent trip there confirmed that 1500 euros a month will allow us the fabled king-like living without a winter so we have saved far too much over our sad and cold Canadian lives. Forget B&D, we are now spending.
———————-
Good for you! :D Living the Life! :) Love it!!
Hmm, wonder does gifting money also incur a tax in the UK?
——————-
You call this living THE Life?
Moving around like some homeless Roma.
Just to save a couple of bucks.

#132 Ponzius Pilatus on 06.29.22 at 11:17 am

Regarding the Muslim/Hindu conflict:
Watching the last 20 minutes of the movie “Gandhi” gives you some perspective.

#133 Faron on 06.29.22 at 11:26 am

#118 Sail Away on 06.29.22 at 9:46 am

Be alert to obsessive revenge stalking.

Do you have the foggiest clue how stupidly backwards you are/this statement is? She’s the one who was hunting around for dirt on me. You have a dossier on me. JFC.

This is getting tedious. If Biden can meet Erdogan, you guys can co-exist. – Garth

#134 Sail Away on 06.29.22 at 11:27 am

“Did your scroll wheel rupture? – Garth”

——-

Yes, my whole mouse melted down while scrolling through the following battles with eight different people. Similar to our ‘angry man’ local junkie, who is currently swearing at a fire hydrant in the parking lot.

#7 Faron on 06.27.22 at 4:09 pm
#28 Faron on 06.27.22 at 5:20 pm
#30 Faron on 06.27.22 at 5:23 pm
#45 Faron on 06.27.22 at 6:27 pm
#47 Faron on 06.27.22 at 6:30 pm
#52 Faron on 06.27.22 at 6:47 pm
#62 Faron on 06.27.22 at 7:45 pm
#100 Faron on 06.28.22 at 2:25 am
#116 Faron on 06.28.22 at 11:30 am
#117 Faron on 06.28.22 at 11:39 am
#121 Faron on 06.28.22 at 12:23 pm
#125 Faron on 06.28.22 at 12:38 pm
#128 Faron on 06.28.22 at 1:19 pm
#1 Faron on 06.28.22 at 2:20 pm
#6 Faron on 06.28.22 at 2:54 pm
#22 Faron on 06.28.22 at 3:49 pm
#25 Faron on 06.28.22 at 4:06 pm
#41 Faron on 06.28.22 at 5:33 pm
#43 Faron on 06.28.22 at 5:39 pm
#53 Faron on 06.28.22 at 7:53 pm
#56 Faron on 06.28.22 at 8:07 pm
#57 Faron on 06.28.22 at 8:12 pm
#86 Faron on 06.28.22 at 10:52 pm
#117 Faron on 06.29.22 at 9:45 am
#120 Faron on 06.29.22 at 9:47 am
#121 Faron on 06.29.22 at 9:51 am
#123 Faron on 06.29.22 at 10:01 am

#135 Dragonfly58 on 06.29.22 at 11:27 am

Nesty, the inflation calculator I often refer to says aproximately 350 % inflation for the period you are saying had little to no inflation. 350 % !! $100.00 in 1980 bought what it took $350.00 to buy in 2020. If you are talking houses in a major Canadian city the figure is even higher.
How many incomes went up by anywhere that amount. I earned about $15.00 / hour in 1980 as an automobile mechanic. $41.00 / hour as an Engineer in 2019 / last year before retirement. Big upgrade in qualifications and career, not even triple the income. I had a pretty decent standard of living in 1980. Despite moving up in the employment world over those 39 years my standard of living noticeably dropped. I repeat , what planet were you living on ?

#136 Faron on 06.29.22 at 11:30 am

#116 DON on 06.29.22 at 9:40 am
#110 Old Boot on 06.29.22 at 9:00 am

Grow up.

That’s no way to win a debate

#119 Canadian Patriot on 06.29.22 at 9:46 am

old boot is a classic internet coward.

Yep. This arose out of her taking offense at being reminded of Garth’s rules of all things. Total garbage person promoting a brand of transphobia that has and will get people killed.

#137 Trawna on 06.29.22 at 11:34 am

“The Mills and Zs are also confused because life looked simple six months ago. Buy a house with huge debts. Make a brazillion in tax-free profit. Borrow against that to buy another house. Retire rich. At 35.”

Definitionally, if you make a brazillion dollars, you make zero dollars since the financial haircut is total.

#138 Penny Henny on 06.29.22 at 12:30 pm

#51 Old Boot on 06.28.22 at 7:24 pm
“Goodbye Twitter. Technology addiction got the best of me. If you suspect it is getting the best of you, please seek help. It’s a real problem. It’s done a lot of damage in my life, don’t let it get yours.”

3 guesses as to which unhinged blog dog tweeted this cry for help.
///////////////////

That’s gold Jerry. GOLD!

Hair on fire Faron?
BTW is it a full moon?

#139 Satori on 06.29.22 at 12:42 pm

#131 Ponzius Pilatus on 06.29.22 at 11:11 am
128 Satori on 06.29.22 at 10:48 am
#101 Ponzius Pilatus on 06.29.22 at 8:11 am
#96 Jane24 on 06.29.22 at 1:50 am
Yes we have the same first world problem – too much cash in the bank earning literally nothing. Our solution is a new bathroom and extension on a too small rental we have and some cruises. Costs of building work that shot up recently here in the UK is now coming down due to folk tightening their belts. We are in our 70s and excess cash here when you croak only attracts inheritance tax. It must be spent. Job done.

Plus we are moving our main residence to Sardinia for the new Italian 7% on world-wide income tax dodge. Scheme open to all non-Eu residents. Our recent trip there confirmed that 1500 euros a month will allow us the fabled king-like living without a winter so we have saved far too much over our sad and cold Canadian lives. Forget B&D, we are now spending.
———————-
Good for you! :D Living the Life! :) Love it!!
Hmm, wonder does gifting money also incur a tax in the UK?
——————-
You call this living THE Life?
Moving around like some homeless Roma.
Just to save a couple of bucks.
————————–
Apologies, I didn’t realize you were broke. You made it sound like you have too much and were seeing the world… sounded like fun to me.

#140 Old Boot on 06.29.22 at 12:43 pm

#136 Faron on 06.29.22 at 11:30 am

#116 DON on 06.29.22 at 9:40 am
#110 Old Boot on 06.29.22 at 9:00 am

Grow up.

That’s no way to win a debate

#119 Canadian Patriot on 06.29.22 at 9:46 am

old boot is a classic internet coward.

Yep. This arose out of her taking offense at being reminded of Garth’s rules of all things. Total garbage person promoting a brand of transphobia that has and will get people killed.

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

Testerical nonsense. Trans identifying people are the safest demographic in Canada, by quite some stretch. This why people doubt climate change. Scientists should reallybe more careful with outlandish, unsupported claims.

Trans = 0.005 – 0.05 murders per million population in Canada
Everyone else = 0.171 – 0.195 per million Canada

https://transrespect.org/en/map/trans-murder-monitoring/?submap=tmm_relative_numbers

https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=3510006801

#141 Penny Henny on 06.29.22 at 12:43 pm

#86 Faron on 06.28.22 at 10:52 pm
#51 Old Boot on 06.28.22 at 7:24 pm

Absolutely mine and you are disgusting for exploiting it.

Between my work, Twitter and commenting here I have left little time for personal commitments and obligations and have suffered for that. That tweet was my last and is an effort at change and improving how I live my life.

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

I have an idea Faron.
Why not stop commenting here.

#142 Old Boot on 06.29.22 at 12:43 pm

#136 Faron on 06.29.22 at 11:30 am

#116 DON on 06.29.22 at 9:40 am
#110 Old Boot on 06.29.22 at 9:00 am

Grow up.

That’s no way to win a debate

#119 Canadian Patriot on 06.29.22 at 9:46 am

old boot is a classic internet coward.

Yep. This arose out of her taking offense at being reminded of Garth’s rules of all things. Total garbage person promoting a brand of transphobia that has and will get people killed.

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

Testerical nonsense. Trans identifying people are the safest demographic in Canada, by quite some stretch. This why people doubt climate change. Scientists should really be more careful with outlandish, unsupported claims.

Trans = 0.005 – 0.05 murders per million population in Canada
Everyone else = 0.171 – 0.195 per million Canada

https://transrespect.org/en/map/trans-murder-monitoring/?submap=tmm_relative_numbers

https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=3510006801

#143 yvr_lurker on 06.29.22 at 12:55 pm

Hi lurker. I’m not sure if you’re complaining about this B&D etf or not. I confirm that my fund has a similar price history. So your choice of fund was no worse than many of them.

Just a few points that may apply

1) ZBAL is not that old is it? Did you take investments that had decent gains until you put them in ZBAL? Your book cost should be re-set at that time.

2) Did you continue to contribute thru the dark days of the epidemic? And did the government add their share?

3) Did you receive dividends/distributions during this time? They are added to your book cost if they are re-invested.

4) Did you start withdrawing anything from the fund as it rebounded from the bottom? Easy just to take a k or two now and then and put in cash to lock in any gains.

If you look at 1, 2 and 3, you may still have a good gain from your net investment in there. Sorry if you missed number 4, sometimes it works.
——————–

We put 80K for my kid’s RESP into ZBAL in the summer of 2019 as it looked like a “safe” bet for making 4–5% or so. The extra RESP contributions since that time we have put somewhere else. The RESP portion has gained essentially zero since 2019 until June 2022 no matter how it is spinned. Will need some of this cash for him by January 2024 for Univ. I think a 3.5–4% GIC would be a better bet for the next 18 months.

#144 Faron on 06.29.22 at 12:56 pm

#133 Faron on 06.29.22 at 11:26 am

This is getting tedious. If Biden can meet Erdogan, you guys can co-exist. – Garth

Hilarious. I’ll take the Biden on that one in a heartbeat. I don’t expect Sail Away to respond given the sorry state of his mouse parts.

#145 yvr_lurker on 06.29.22 at 1:14 pm

Just to drive the point home on the downside of so-called “safe” ETF investing. ZBAL (the equivalent of VBAL from Vanguard), down 16% since the start of the year 2022 with essentially zero upside after 3 years (with the initial date about a year before COVID hit). This kind of volatility seems to be minimized by our host.

https://ca.finance.yahoo.com/quote/ZBAL.TO/performance/

Is it going to snap back with a double-digit gain over the next year when the recession kicks in? Nope….

#146 Shaggy on 06.29.22 at 1:20 pm

What I love about the internet is everyone is an expert and feels comfortable sharing their opinion. That’s what’s great about this blog – you get Garth’s tried and true investment advice juxtaposed with the often emotion-based opinions of the blog dogs.

Today’s picture is a case in point. Some breeds, especially hunting breeds like the GSP or Vizsla, are naturally lean if healthy and well-exercised. The general rule is that it’s ok to see their last 3 ribs and a better indication of dietary problems (or hip dysplasia) is if the “hip bones” are pronounced. Adolescent dogs of these breeds will often be especially lean as they go through growth spurts. Interestingly enough, many unaware owners will overfeed them thinking that they are too skinny. Kelso looks beautiful, Brandon.

#147 Ponzius Pilatus on 06.29.22 at 2:03 pm

#146 Shaggy on 06.29.22 at 1:20 pm
What I love about the internet is everyone is an expert and feels comfortable sharing their opinion. That’s what’s great about this blog – you get Garth’s tried and true investment advice juxtaposed with the often emotion-based opinions of the blog dogs.

Today’s picture is a case in point. Some breeds, especially hunting breeds like the GSP or Vizsla, are naturally lean if healthy and well-exercised. The general rule is that it’s ok to see their last 3 ribs and a better indication of dietary problems (or hip dysplasia) is if the “hip bones” are pronounced. Adolescent dogs of these breeds will often be especially lean as they go through growth spurts. Interestingly enough, many unaware owners will overfeed them thinking that they are too skinny. Kelso looks beautiful, Brandon.
———————————
Thank you, Shaggy.
Was one of the commenters.
And I appreciate the clarification.
A human equivalent probably would be a Marathon runner.
They all look like skeletons.
However, beauty is in the eye of the beholder.
Just like women, I like dogs with some substance on their bones.

#148 Shaggy on 06.29.22 at 3:13 pm

Thank you, Shaggy.
Was one of the commenters.
And I appreciate the clarification.
A human equivalent probably would be a Marathon runner.
They all look like skeletons.
However, beauty is in the eye of the beholder.
Just like women, I like dogs with some substance on their bones.
————————————————————-
Good analogy PP, these guys are the dog version of a marathon runner. And beauty is absolutely in the eye of the beholder. We’ve had multiple Huskies and Vizslas (and a Lab) and I can tell you that people often would stop to ask about our dogs. It was always a 50/50 split – half would want to ask about the V, the other half would be in love with the Huskies.

Sadly Leo, our Lab never seemed to get the love (except from us). ;)

#149 Steve on 06.29.22 at 4:03 pm

Nice that you gonna review some portfolio weightings, you haven’t done that in a long time. I listen to the weekly calls and there, you guys mention stuff like that. Thanks for the info in advance.

#150 Jim on 06.29.22 at 7:13 pm

Gail, you sound like my wife. She is the math nerd in our family, takes care of all the finances and now we are married for 15 years and we have a net worth of $975,000 and $375,000 of that is in investments, RRSPs, TFSAs, GICs, bank stocks, REITs, other common shares like hydro, utility companies and the rest is our house paid off 4 years ago. She told me we should prepay our principal every year minimum 5% to 10% no matter interest rates are low. It is a good thing I listened to her as now our mortgage rate would be 5% to 5.5% minimum and be in still deep mortgage debt. We have no debt at all.

#151 Shane Blackwood on 06.30.22 at 2:00 am

Seniors are starving, that’s a fact. People who stand by principal and ethics should be outraged, not writing tear jerk asides about blueberries. We have a twice convicted PM who has no ethnics, and that’s been proven as fact . Get off your asses people. There won’t be a Canada if Tru-inflation persists and burns out of control another three years . If Granny can’t afford blueberries today then what is this government’s failed policy costing you every year, upwards of hundreds of thousands ?

#152 Gretchen on 06.30.22 at 8:09 am

Yes, Shane Blackwood, the $500 cheque sent to seniors before last year’s election from Trudeau did not really help seniors. It is so sad people were not more smart and informed about Trudeau and the Liberals. I am a senior and thankfully my husband left me with a modest house all paid off no mortgage, debts of any kind and a decent amount of RRSPs and TFSAs, $560,000 additionally beefed up savings accounts, GICs, Royal Bank stocks $190,000. However, Liberals are the main reasons taxes, inflation are higher through Canada’s history.