Dr. Garth

Forget the headlines. Life goes on. We grow up, work, mess around, get married, buy stuff, have kids, retire and die. Nobody gets out alive. Along the way we’re all roughed up by reality. Fortunately, there are also ERs. So let’s open the clinic and see who wanders in today.

Here’s Blake. He has pension tension.

“My wife and I moved to another province and she left a DBP,” he says. “Things got busy and we both forgot to respond to some mail sent by her pension fund (HOOPP). We thought it would just stay in the fund, but because she did not respond, they sent her a cheque for its total amount (minus a big chunk of tax).”

So now we are wondering what to do? We know she could contribute that money to her rrsp to take some of the sting away from the tax hit, but we are unsure of how much we can put in. She is  now at another job that has a dbp and from reading past posts of yours, if you have a DBP, it’s not a good idea to use your rrsp because she would have little room left in it due to her pension taking up rrsp space? Or maybe I have it all wrong?

First, never ignore a pension letter. They give you options, and always have deadlines attached. Normally the choice is (a) stay in the plan and take benefits at retirement age, (b) take a lump sum commuted value that can be rolled into an RRSP, plus a taxable cash payment or (c) pay a lot of tax, exit the plan and receive the residue in after-tax funds.

So HOOPP is a good outfit, Blake, and keeping the money there might have been a decent option. But now it sounds like you missed the window to roll some funds over into a registered account, as a large source deduction’s been made. Dumping into an RRSP will earn a tax credit, of course, but the money’s made taxable again. Since your spouse has a defined benefit pension, she shouldn’t build up a big RRSP. At age 71 it needs to be converted to a RRIF. The income stream from that could push her into a higher tax bracket. Sucks.

Better to take the money now, top up your TFSAs and maybe stick any excess into a joint non-registered account. An income stream from the tax-free accounts in retirement is not counted as taxable income, with no impact on government pensions and no risk of being added to the DP pension benefit, for a tax hit.

Next time open the damn mail.

Allan’s a lawyer on the East Coast and he’s being wooed about buying into an apartment complex.

What are your thoughts as these investments, as opposed to single family homes? Have you ever done it? My brother wants me to pool my money with 6 other people to buy 70+ units (spread over 8 buildings) in a declining town (Sydney NS). Very high leverage but excellent cashflow.

This amalgamation deal seems like an excellent opportunity on paper but lots of personalities are involved in the deal. I am not fussy about an amalgamation as there is no real control, no exit strategy, and I do not want to be part of a refinancing snowball where I wake up 10 years from now jointly and severally liable for millions upon millions of dollars. However, I have been interested in buying a small apartment building (6-8 units) by myself for quite some time. Whether as a joint or solo effort – do you think apartment complexes are worth it?

These are two distinct questions. First, is there logic in buying a multi-unit rental property? Second, because they cost a lot, does a joint venture make sense?

The answer to question one is, yes. Sort of. Apartment buildings of a manageable size (a dozen units of less) can be an outstanding investment. Financing is readily available based on cash flow. Income is predictable. Appreciation levels have been robust. And as residential real estate drifts out of the orbit of the middle class, renters will abound. Picking a small market is also wise, since cap rates are generally far higher. Plus, as equity is built up in a building you can remortgage and suck it out, tax-efficiently.

The downsides are real, too. Maintenance is critical since you’re responsible for providing safe homes for families. No scrimping allowed. Provincial governments have become increasingly anal about tenants’ rights, which may mean it’s virtually impossible to get rid of a disruptor or a non-payer. In fact during the pandemic untold numbers of freeloaders lived rent-free and shielded from eviction. And rent controls may prevent you from ever fully recouping rising operating costs. Plus people do things like try to flush iguanas down the can.

As for the deal you’re being presented, Allan, you’re the lawyer. Figure out how to protect yourself. That means structuring this deal as a legal entity, so you personally neither guarantee nor accept responsibility for financing. Consider gaining distance through a holdco. Make sure you know who you’re getting into bed with – background and police checks, financial disclosures and interviews. As a licensed professional you can’t afford a tarnish. You need an exit strategy, so build one into the relationship.

Better still, do it yourself. Instead of owning a tenth of 80 units, why not buy a triplex or a small, six-unit building? You should be able to swing that financing alone (but a personal guarantee is a given), build better relationships with the tenants and seriously limit your professional risk.

Yes, Allan, I have done this. Made bank. But being a landlord sucks. Worse than blogging.

About the picture: “This is our cat Frida,” writes Sean. “She’s generally a little carsick so we give her full reign of the boot for her to explore and see the horizon. Despite the grumpy face in this photo, she’s a source of entertainment and joy in our house. She’s completely toothless (literally)after being abandoned by her previous family and left her on the streets of St Catharines for 8 cold months before a rescue agency took her in and we found her. How anyone could do such a thing is beyond me, she’s since been declared “the best cat” by no less than 2 cat-sitters and she’s an amazing, fun, energetic and loving beast. Lest I go on, I’ll leave it there.”

100 comments ↓

#1 Victor V on 07.06.22 at 4:47 pm

“spoke with a realtor who listed a property in Kitchener/Waterloo they hoped to sell for $800K – listed for $699K in hopes of attracting multiple offers – highest of 12 offers was $650K. Toronto realtor & client offers $825K firm – accepted.”

https://twitter.com/DanielVyner/status/1544676340141522949

#2 J on 07.06.22 at 4:49 pm

#155 ARS on 07.06.22 at 1:36 pm
“we can pick a longer timeline if you want, one that crosses currencies. gold still wins.

Gold is not money. It’s a rock. – Garth”
————————–

The mining industry thinks gold is a rock: https://www.mining.com/why-gold-isnt-currency/

Some folks at the World Economic Forum seem to think gold is a currency, which gives me one more reason to not trust what comes from them: https://www.weforum.org/agenda/2019/07/why-gold-is-money-a-periodic-perspective/

Interestingly, gold priced in 2010 USD has stayed relatively steady for nearly 800 years (click on the chart): https://www.pcgs.com/news/a-long-term-look-at-goldprice

In the article above (which is a website for goldbugs) they state, “Gold is a tremendous store of value”, which I find preposterous since it only keeps up with inflation over the long term.

Here is another asset that only keeps up with inflation (except for the last 20 years where we seem to have lost our minds): https://observationsandnotes.blogspot.com/2011/07/housing-prices-inflation-since-1900.html

It’s clear to me that if you want to get a return above inflation then you put a good chunk of your wealth into liquid company shares and invest in future human ingenuity.

#3 Bob on 07.06.22 at 4:55 pm

Nothing to say about Patrick Brown today? Maybe tomorrow?

#4 Weekender on 07.06.22 at 4:59 pm

Blake should also talk to an accountant. Yes HOOPP has submitted some taxes however depending on how much other income his wife had, HOOPP likely didn’t withhold enough. She may have a nasty surprise when she files her taxes this year.

#5 Doug t on 07.06.22 at 5:06 pm

DOCTOR DOCTOR GIMME THE NEWS is the dollar going to 70 cents what’s your view

#6 Shawn on 07.06.22 at 5:06 pm

Electric Vechicles?

#164 Dr V on 07.06.22 at 3:06 pm
125 Shawn

“EVs are coming. The grid will adapt. Chargers will be installed.”
——————————————–

Please examine the following energy data for Alberta and consider the scale of this adaption.

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

********************************
Not sure what Alberta’s oil production has to do with EVs but I stopped reading when I saw the section on Electricity was from 2019 and indicated 36% of Alberta’ generation was from coal.

That was then. It used to be way higher maybe 60% coal.

Almost all of Alberta’s coal generation has now been converted to natural gas or shut down. (Look up AESO supply demand)

In any case my point is the GRID the transmission and distribution will adapt to the load. I worked in the industry in Alberta for 26 years. Our grid is basically gold plated. We have massive extra capacity in transmission and the distribution is strong as well.

If it needs upgrades it will be done.

Understand that the electricity wires owners all get paid in relation to their assets. They actually get paid more every time they upgrade a wire. They will salivate at the prospect of upgrading for EVs if that is needed. Yes electricity delivery rates will rise even more than it has. The commodity cost is also higher with the switch to natural gas. This will not stop the adoption of EVs.

You ought to know by now, I only write things I actually know.

#7 Linda on 07.06.22 at 5:08 pm

‘Frida’ looks like she is thinking of taking out the driver. There is definitely a ‘sleeping with the fishes’ vibe to her expression:)

Blake & squeeze may not have acted in time to take the best advantage of the previous DB pension plan options, but could be what happened will end up being the best result for them in the long run. Bottom line is that despite the tax hit they now have control of the money. While I would like to believe pension funds such as HOOPP are safe, the fact remains that politicians have shown themselves to be willing to play political football with such funds to win the favor of voters who are not members of those funds. Because for sure the members are not fans of those who would threaten their financial future.

#8 Overheardyou on 07.06.22 at 5:20 pm

Maybe it’ll be better to build a small hotel in the carribean instead, at least you get warm tropical weather year round

#9 NOSTRADAMUS on 07.06.22 at 5:23 pm

FORTUNATELY THERE ARE ERS.
Garth, by ERS I suspect you are referencing the hospital and the emergency care provided. This is a good lead in to the financial advice you dispel. However, the dark side to this analogy is the actual reality you will be faced with at the hospital emergency entrance. Ambulances are stacked up around the block. The waiting rooms are full. The frequent flyers, meaning repeat drug overdoses are clogging the arteries. They all move to the front of the line, and are repeatedly, saved week after week. Meanwhile patients are dying in the ambulances and the waiting room. Sorry for the rant, I just spent 7 hours in the waiting room with my mother while the doctors saved another frequent flyer. Steady Lads, hold the line.

#10 the Jaguar on 07.06.22 at 5:27 pm

Oh my god! It’s a photo of me in the back seat of that car! Jaguar pose!

#11 Squire on 07.06.22 at 5:33 pm

#1 Victor V on 07.06.22 at 4:47 pm
“spoke with a realtor who listed a property in Kitchener/Waterloo they hoped to sell for $800K – listed for $699K in hopes of attracting multiple offers – highest of 12 offers was $650K. Toronto realtor & client offers $825K firm – accepted.”

https://twitter.com/DanielVyner/status/1544676340141522949
————-
Check the response in Twitter “That Toronto realtor and their clients aren’t too bright then”

LOL

#12 Shawn on 07.06.22 at 5:38 pm

#7 Linda on 07.06.22 at 5:08 pm

While I like to believe pension funds such as HOOPP are safe, the fact remains that politicians have shown themselves to be willing to play political football with such funds to win the favor of voters who are not members of those funds. Because for sure the members are not fans of those who would threaten their financial future.

****************************
Poppycock! The big pension funds are relatively independent and well managed. Governments are paying in tons as the employer. They are not taking anything out. Safer than houses for sure.

#13 REIT this, not that on 07.06.22 at 5:40 pm

Why would anyone buy property directly for all the reasons you gave? Why would you give him this advice?

Really, who wants to be a landlord…other than for the reason you can tell people you own property and you are a landlord.i.e. bragging rights

Why not forego the festivities and the complications of direct ownership and just buy a good REIT? No dealings with tenants .. better rate on mortgages … more diversification spread over more properties, more locations and different property types.. therefore less risk and stress …no direct dealings with other owners … professional and experienced management …etc. and most importantly …more times than not, superior returns.

#14 Observer on 07.06.22 at 5:50 pm

Just a “peaceful” protest and Lich is a “political prisoner”, locked up because … Trudeau of course.

Assistant Crown Attorney Moiz Karimjee produced new evidence in court on Tuesday with a series of text messages from Lich to co-accused organizer Chris Barber, including one Jan. 23 exchange where she references a strategic decision to “gridlock” the city during the three-week convoy demonstration.

“They have a strategy to gridlock the city,” Lich wrote. “I don’t want to make those decisions on my own.”

https://ottawacitizen.com/news/lich-awaits-friday-bail-decision-after-crown-produces-texts-discussing-strategy-to-gridlock-city

#15 cuke and tomato picker on 07.06.22 at 5:58 pm

Allen investing in a group into rental property is not a good idea TOO MANY VARIABLES. Also being a landlord
makes for many headaches there are better places to
put your money. Do your research be patient and find something that provides security and gentle peaceful growth. Blake read the fine print next time.

#16 Haters gonna hate on 07.06.22 at 6:05 pm

https://www.westerninvestor.com/british-columbia/canadas-fastest-growing-region-flexes-real-estate-muscle-5532797?utm_source=Western+Investor+Newsletter&utm_campaign=932ece335b-EMAIL_CAMPAIGN_2018_01_03_COPY_01&utm_medium=email&utm_term=0_9b89d35e1e-932ece335b-96460181

#17 Shawn on 07.06.22 at 6:11 pm

REIT versus your own building

#13 REIT this, not that on 07.06.22 at 5:40 pm
Why would anyone buy property directly for all the reasons you gave? Why would you give him this advice?

Really, who wants to be a landlord…other than for the reason you can tell people you own property and you are a landlord.i.e. bragging rights

*****************************
Think of the psychic income and bragging rights from showing people your own building.

Almost as good as owning a Tesla.

Better yet, install a charger at your building and park your Tesla there.

#18 Don Guillermo on 07.06.22 at 6:12 pm

#8 Overheardyou on 07.06.22 at 5:20 pm
Maybe it’ll be better to build a small hotel in the carribean instead, at least you get warm tropical weather year round
********
Before committing you might want to read Don’t Stop the Carnival by Herman Wouk. It’s quite humorous. There was also a musical collaboration between Jimmy Buffett and Wouk that had a short run in Miami.

#19 Mark Mywords on 07.06.22 at 6:17 pm

#7 Linda on 07.06.22 at 5:08 pm
‘Frida’ looks like she is thinking of taking out the driver. There is definitely a ‘sleeping with the fishes’ vibe to her expression:)

Blake & squeeze may not have acted in time to take the best advantage of the previous DB pension plan options, but could be what happened will end up being the best result for them in the long run. Bottom line is that despite the tax hit they now have control of the money. While I would like to believe pension funds such as HOOPP are safe, the fact remains that politicians have shown themselves to be willing to play political football with such funds to win the favor of voters who are not members of those funds. Because for sure the members are not fans of those who would threaten their financial future

______

Could be but depends … first,they have already proven how irresponsible they are by jointly and severally deciding to let this issue slide. Based on that fact alone, I don’t see this story having a happy ending!

Second, what numbers were used for their commuted value? Probably higher than it could have been. At such low rates, every change in interest rates makes a substantial difference to the amount commuted. Did I mention …HUGE difference… given that the 5yr rate is a key variable in the calculation. Do the math and see what I mean!

Going forward, they will be at the mercy of the investment gods … and Lady Luck. If they aren’t particularly astute or are inexperienced when it comes to investing and long term financial planning, now is not the time to be in the hot seat.

#20 HH on 07.06.22 at 6:21 pm

Frida is absolutely adorable. I wouldn’t say she has a grumpy face. She has a determined and full of personality face. I could just cry when I hear stories of animal abandonment. I could never do that to an animal. They are so helpless in our world. I think she and my Baxter might get along very well.

#21 Quintilian on 07.06.22 at 6:26 pm

Allan is a lawyer, that’s a plus, is some ways, as he might need the skills for the quagmire is about to get into.

I am inclined to think that landlords and speculators are going to be the scapegoats for politicians and punching bags for renters figuratively speaking.

There will be an increasing number of renters who are not the typical underclass helpless rubes, and they are going to make life very miserable for the exploiters.

Allen might find that lawyers are the second most hated people.

#22 Dr V on 07.06.22 at 6:39 pm

6 Shawn

“Almost all of Alberta’s coal generation has now been converted to natural gas or shut down…..We have massive extra capacity in transmission and the distribution is strong as well.”
—————————————————–

Yes, Canada in general has done a good job of transitioning away from coal. Nat gas emits about half the GHG of coal per energy unit. If NG replaced all the coal, it would total about 90% of all electricity generated in AB.

From the link, end demand energy use for electricity is (was?) about 7% in Alberta.

What’s missing??

#23 James on vacay on 07.06.22 at 6:40 pm

Today’s politics are rather foreboding. Conservatives chewing each other up is exactly what Justmeet wants.

Without revealing any sources, I can tell you for sure that there are now and will be soon tens of thousands of new “members” of the CPC who will have only one purpose:

Vote in Poilievre and doom the party to a possible extinction event.

Smart. But rather quiet and sneaky. Give credit to the Libs and Dippers, their quiet operations have done very well so far.

#24 Wher Are You HIding Our Money Greedeau? on 07.06.22 at 6:40 pm

Here’s some info about EVs and our local gov’ts. I ride by a city gov’t parking lot with 8 charging stalls with the same cars parking there EVERY day. I decide to see if they have credit card acceptance and I see that no, they don’t. I ask them if the employees are paying for the charging of their cars and employee says no. I ask them, since now I, and every other taxpayer is footing the bill, employee who is a big-wig, says, “But this is so good for the environment, taxpayers should pay!”. I then ask is this part of their contract, or if it isn’t, is this reported as a taxable benefit. Said big-wig, ” IT’S NONE OF YOUR BUSINESS!”, then he hung up.
So I guess these sloths are now expecting me to top up their commute now and they don’t have to pay tax.
Garth, please give your opinion on this. Is this happening in all city gov’ts with EV charging for their employees.
Me thinks it’s more of the “Let them eat cake” attitude from our civic gov’ts whose presence of the plebs is so disdained.
Where’s the closest guillotine?

#25 crowdedelevatorfartz on 07.06.22 at 6:44 pm

@#21 Quinty’s Quorum
“Allen might find that lawyers are the second most hated people.”
+++
Third most hated.
You forgot Politicians.

#26 The West on 07.06.22 at 6:51 pm

Do any of the dogs on here know, exactly, what has been leveled at Pat Brown?

Unless I missed it, and I may have, he has been DQed by the Conservative Party’s Leadership Election Organizing Committee by ” anonymous allegations” that have not been brought forward against him in any official documentation or proceeding. He has had no right to review the allegations or face the accuser.

To be clear, he had zero chance of winning this vote however, this is not the conduct of free and open political systems.

I’m sure at this point, everyone is shocked.

#27 old gringo on 07.06.22 at 6:54 pm

As i’ve always said ‘its the journey, not the destination that matters”.
Death and taxes are the only absolutes on this rock.
Enjoy the ride or sit back and watch others enjoy them.
You can’t take it with you amigos.

#28 Penny Henny on 07.06.22 at 7:33 pm

12 Shawn on 07.06.22 at 5:38 pm

Poppycock!
///////////

Shawn please watch your language

#29 Paul on 07.06.22 at 7:45 pm

#3 Bob on 07.06.22 at 4:55 pm
Nothing to say about Patrick Brown today? Maybe tomorrow?
————————————————————————————————

They got him, night of the long knives!

#30 Victor Llearna on 07.06.22 at 7:57 pm

Blake made a big mistake but not opening his mail. He definitely llearna valuable lesson, losing all the tax $$ to trudeau must really suck

#31 WUL on 07.06.22 at 8:05 pm

Hi Garth, et al.,

I’ve dipped my front paws back into the Blackwater of the comment section here. I spent June in YVR. It’s a sick city. A beautiful setting, or at least it was before that gawdawful city was built there. More on this topic if anyone is interested. I’m back in Ft. Mac now.

I read about 30 comments each night and that is all. Time is money. Is the Catskinner (IHCTD9) still hanging around here. He’s the only impounded canine that makes horse sense here.

Parade Day for Calgarys rodeo is Friday.

WUL

#32 baloney Sandwitch on 07.06.22 at 8:17 pm

“Forget the headlines. Life goes on. We grow up, work, mess around, get married, buy stuff, have kids, retire and die.” Great wordsmithing. Garth, you should write an autobiography. All the stories you can talk about the financial illiteracy of Canadians and backstabbing in politics.

#33 jess on 07.06.22 at 8:22 pm

the few and the many

sustainable garment labels …. higgs index …greenwashing ? growth = with toxic melange of dyes, tanning acids and chemicals polluting rivers “It is now the largest sewer of the country,” said Sheikh Rokon, the head of the Riverine People environmental rights group.
~ 80 % of the country’s $50bn annual exports. employing millions.
Colombo, Sri Lanka (CNN) Sri Lanka is “bankrupt,” Prime Minister Ranil Wickremesinghe said Tuesday,

runaway house price growth ….affordability indexes ? =too expensive to buy or rent
runaway crypto growth ….. …” The Federal Trade Commission reported in June that “since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams. That’s about one out of every four dollars reportedly lost to fraud during that period.” (For more on this crypto nightmare, see our report on how customers on the Coinbase crypto exchange are being victimized

Crypto Billionaire Sam Bankman-Fried Is Dangling $1 Billion in Political Donations; But He Wants Dangerous Crypto Derivatives Trading in Return
https://docs.house.gov/meetings/AG/AG00/20220512/114729/HHRG-117-AG00-Wstate-DuffyT-20220512-U1.pdf
https://wallstreetonparade.com/2022/06/crypto-victims-cries-for-help-are-piling-up-at-a-federal-complaint-center/

Coinbase Leaders Net $1.2 Billion in Share Sale
Haul taken by two co-founders and two executives contrasts with shares’ sharp decline since becoming publicly available last year
Wall Street Journal reporters Corrie Driebusch and Tom McGinty revealed that Coinbase “Co-founders Brian Armstrong and Fred Ehrsam, as well as President and Chief Operating Officer Emilie Choi and Chief Product Officer Surojit Chatterjee, together netted about $1.2 billion in proceeds from stock sales starting the day the San Francisco-based company started trading through February of this year, according to a Wall Street Journal analysis of regulatory filings.”

#34 Where Are You Hiding Our Money Greedeau? on 07.06.22 at 8:24 pm

I said when Guido (Gordon) Campbell was hired by the Ontario gov’t (Ontario Lottery) to handle the transition of casinos in Ontario that this was going to happen, after all, he presided over the “Vancouver Model” of money laundering in BC: Ontario casinos laundered $3 million in illegal cannabis proceeds: RCMP, https://vancouversun.com/cannabis-news/ontario-casinos-laundered-3-million-in-illegal-cannabis-proceeds-rcmp
Well well well. I guess it helps when senators like former Vancouver mayor Larry Campbell are connected to the industry also.
It’s also interesting that the RCMP could only find $3 million, cough cough lie.
And why has there been any more laundering cases in BC after the ONLY one was “dismissed” if there is a model based on it?

#35 Free Jollies on 07.06.22 at 8:46 pm

#110 Don Guillermo on 07.06.22 at 12:40 am
#67 Faron on 07.05.22 at 7:28 pm
#8 Søren Angst on 07.05.22 at 4:23 pm

comment seriously?

Hey, I know not to take Don Guillermo seriously as soon as I read his screen name. Ain’t heuristics great?

#36 yvr_lurker on 07.06.22 at 8:56 pm

Here’s some info about EVs and our local gov’ts. I ride by a city gov’t parking lot with 8 charging stalls with the same cars parking there EVERY day. I decide to see if they have credit card acceptance and I see that no, they don’t. I ask them if the employees are paying for the charging of their cars and employee says no. I ask them, since now I, and every other taxpayer is footing the bill, employee who is a big-wig, says, “But this is so good for the environment, taxpayers should pay!”. I then ask is this part of their contract, or if it isn’t, is this reported as a taxable benefit. Said big-wig, ” IT’S NONE OF YOUR BUSINESS!”, then he hung up.
—————-

Same mindset as the green people on YVR city council. Hell bent on getting to mandating EV’s (and outlawing or taxing into the ground gasoline powered vehicles ASAP). Have no foggy idea about the infrastructure required for EV charging, but must get to that finish line ASAP. Zero pragmatism, and no common sense. Could care less on whether a car parked in front of your house (because you have no “safe” driveway) was only driven 5K this past year (a reduction of 50% of the previous year as the owner is now on board with the idea of reducing trips). It must be taxed at 450 per year and mobility pricing must be introduced as in London.

In my view they can all go take a long walk off a short pier. The elections in October 2022 will be interesting in YVR as there are many who voted for the Greens (like I did in 2018) who have now been double-vaxxed.

#37 JSS on 07.06.22 at 9:27 pm

#12 Shawn

Must you use male genitals to make a point

Don’t you realize that this website is PG, and there are many children who frequent this site

#38 Don Guillermo on 07.06.22 at 9:44 pm

#35 Free Jollies on 07.06.22

Hey, I know not to take Don Guillermo seriously as soon as I read his screen name. Ain’t heuristics great?
#########
Heuristics …. had to look it up. I couldn’t afford to go to university for 15 years. I
went to work instead.

#39 Pustule on 07.06.22 at 9:48 pm

#100 Sail Away on 07.05.22 at 10:33 pm

Well, in the US, Republican states…blar-d blar…Alberta…blardy blargh.

Hey, even in the most conservative states there are enough lefty/liberal/dems to keep the fires stoked. We democrats really struggled supporting the conservatives while growing the most explosive economy that ranks among the 5th largest globally of the ’00s, ’10s and ’20s until last year. That would be California. I seem to recall you liking the NASDAQ and cheering it’s virtues? 🤡

#40 Pylot Project on 07.06.22 at 10:06 pm

#31 WUL on 07.06.22 at 8:05 pm

… spent June in YVR. It’s a sick city. A beautiful setting, or at least it was before that gawdawful city was built there.

===

The Northern Pikes said it best… She ain’t pretty, she just looks that way.

#41 Russ on 07.06.22 at 10:10 pm

JSS on 07.06.22 at 9:27 pm

#12 Shawn

Must you use male genitals to make a point

Don’t you realize that this website is PG, and there are many children who frequent this site
=============================

Tell the kids it’s confectionery.

https://www.poppycock-popcorn.com/

or maybe distract them by talking about gold.

Cheers, R

#42 Bob Loblaw on 07.06.22 at 10:31 pm

Hey Garth looks like your obituary for work from home was a tad premature:
https://www.blogto.com/real-estate-toronto/2022/07/work-from-home-toronto-office-occupancy-rate/

#43 Free Jollies on 07.06.22 at 10:42 pm

#38 Don Guillermo on 07.06.22 at 9:44 pm

#35 Free Jollies on 07.06.22

I couldn’t afford to go to university for 15 years.

______________________________________

Me neither. That’s why I got scholarships. And I’m just a pile of beans…

#44 Sail Away on 07.06.22 at 10:42 pm

Re: EVs and free municipal charging

If I were to observe a bunch of people catching free fish with nets, I’d be looking for a net, not complaining that their use of a net is unfair.

#45 Ponzius Pilatus on 07.06.22 at 10:51 pm

25 crowdedelevatorfartz on 07.06.22 at 6:44 pm
@#21 Quinty’s Quorum
“Allen might find that lawyers are the second most hated people.”
+++
Third most hated.
You forgot Politicians
—————-
4th most hated.
You forgot Plummers who over charge.

#46 TMac on 07.06.22 at 10:52 pm

As a former born and raised citizen of Sydney NS, as well as, a former landlord owner of a 6 unit building, I would recommend doing some serious research into the market of Sydney before becoming a landlord there.
I have had some very interesting experiences as a landlord that eventually led me to pulling out all together.
Hope it goes well for Allan.

#47 Don Guillermo on 07.06.22 at 10:57 pm

#43 Free Jollies on 07.06.22 at 10:42 pm

Me neither. That’s why I got scholarships. And I’m just a pile of beans…

*****
Just hope you thanked a taxpayer.

#48 Faron on 07.06.22 at 11:13 pm

Marjorie Taylor Greene is insane. And holds office. And people think we aren’t watching the melt-down of a great country? Just. Wow.

#49 Shawn on 07.06.22 at 11:15 pm

The Alberta economy is on fire.

See the green on the screen. 29 of 33 indicators are green, one is neutral. Only 3 are negative in the red.

https://economicdashboard.alberta.ca/

Yet, of course, the complainers are still out in force.

#50 CJohnC on 07.06.22 at 11:20 pm

JSS

Please leave the wokeness at home and educate your self on the meaning of words such as poppycock.

Simply an old fashioned phrase meaning nonsense, much like your post

#51 T Rex and the dinosaur clique on 07.06.22 at 11:25 pm

Looks like Pierre will be the next prime minister of Canada.

Better hide all those “pepe is a bit unhinged” posts.

You lot thought T2 was a fascist.

Well…..here comes Pepe

#52 TurnerNation on 07.06.22 at 11:43 pm

New NFT release: ‘Bored Blog Dog’
Get it before it is Deleted.

—-Remember, take everything our rulers tell us and flip 180 degrees to make sense. “Affordable housing”. Sure.

“This year, the city of Toronto raised development fees by an astounding 49%. Here is the damage.”
https://twitter.com/MarkinMetaForm/status/1543978481935175680
About 176,000 results (0.28 seconds)

————-
Turn. Your TeeVee. Off:

Only 1% of Americans say COVID is the biggest issue their family faces right now.
https://www.monmouth.edu/polling-institute/reports/monmouthpoll_us_070522/
“More than 4 in 10 Americans (42%) say they are struggling to remain where they are financially. This is the first time since Monmouth started asking the question five years ago that the number topped 3 in 10 – the range in prior polls was 20% to 29%. Just under half (47%) say their current financial situation is basically stable and only 9% say it is improving. The high point for improving was 25% in April 2019.”

———-
– Watch the Food supply. Another fire at a meat plant. What a surprise.

“Major fire in Saint-Hyacinthe: more than 1000 pigs are believed to have died”
https://www.journaldemontreal.com/2022/07/04/incendie-majeur-a-saint-hyacinthe-plus-de-1000-porcs-seraient-morts-1

#53 Research junkie on 07.07.22 at 12:00 am

The ‘Big One’ is coming and it shouldn’t be ignored.

https://news.usni.org/2022/07/06/fbi-mi5-issue-joint-chinese-espionage-warning

Sitting back in “admiration” is really a bonehead move. China will make the WEF move into controlling our society look like child’s play.

#54 Loonieburg Fireworks on 07.07.22 at 12:51 am

Light em up.

https://twitter.com/OdedRechavi/status/1544605725456060416?t=IldO6pc0oRqZaECURQqH3w&s=19

#55 Rural Rick on 07.07.22 at 1:19 am

My experience as a landlord was 2/3 of my tenants were awesome. The other third were time consuming. Get hooked up with a good para legal if you are going to do it.

#56 Balmuto on 07.07.22 at 1:25 am

#13 REIT this, not that on 07.06.22 at 5:40 pm
“Why not forego the festivities and the complications of direct ownership and just buy a good REIT? “

Leverage.

#57 crowdedelevatorfartz on 07.07.22 at 1:32 am

@#46 Tmac
“As a former born and raised citizen of Sydney NS, as well as, a former landlord owner of a 6 unit building, I would recommend doing some serious research into the market of Sydney before becoming a landlord there.”
+++
Yep.
There’s a lot of places I might consider being a landlord.
Sidney, C.B. would be at the bottom of the list.

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

@#45 Ponzie’s Plumber Problems
“4th most hated.
You forgot Plummers who over charge.”
++++

Odd. I could have sworn accountants and taxes were the 4th most loathed.

:)

#58 crowdedelevatorfartz on 07.07.22 at 1:34 am

@#48 Faron
“Marjorie Taylor Greene is insane. And holds office.”

+++
The scarier version?
People will re-elect her…..

#59 Free Jollies on 07.07.22 at 1:43 am

#47 Don Guillermo on 07.06.22 at 10:57 pm
#43 Free Jollies on 07.06.22 at 10:42 pm

Just hope you thanked a taxpayer.

How? Why? I’m just a we’ll educated lump of pintos without vocal chords who pays much higher tax rates than I would have working down at the restaurant. In just a handful of years, the difference has more than made up the cost of my education. You are confusing my little bean brain.

#60 ulsterman on 07.07.22 at 1:47 am

#7 Linda on 07.06.22 at 5:08 pm
‘Frida’ looks like she is thinking of taking out the driver. There is definitely a ‘sleeping with the fishes’ vibe to her expression:)

Blake & squeeze may not have acted in time to take the best advantage of the previous DB pension plan options, but could be what happened will end up being the best result for them in the long run. Bottom line is that despite the tax hit they now have control of the money. While I would like to believe pension funds such as HOOPP are safe, the fact remains that politicians have shown themselves to be willing to play political football with such funds to win the favor of voters who are not members of those funds. Because for sure the members are not fans of those who would threaten their financial future.

So true, obviously not opening the mail was unfortunate, but they now have a lump sum of cash to grow until they need it for retirement. Then they can take the annual income as tax-preferred dividend income rather than fully taxed pension income. MAYBE their DBP will be indexed to inflation, maybe not. But you can be sure the Canadian dividend aristocrats they invest in will predictably grow their dividends by 5-10% annually. And of course, when they die, their investment portfolio doesn’t go poof like their DBP will eventually do when both parties die.

#61 A C Clarke on 07.07.22 at 2:55 am

The march back to the office is not going to happen. Garth is a Luddite and a commercial real estate capitalist extremist. There are a dozen office buildings in Vancouver that will never be full.

I can code in Thailand or Cambodia or Canada. The weather in Canada sucks and the people are unbearable.

Go hunt some beaver pelts Garth. You are completely out of touch with reality, as are all corrupt politicians

#62 Jane24 on 07.07.22 at 3:26 am

Someone needs to get a life and stop looking for insults where they don’t exist or get a proper education. Poppycock is an excellent 18th century word that means nonsense /rubbish. Used most days in the British parliament. One should always have an Oxford dictionary on one’s shelf.

#63 under the radar on 07.07.22 at 5:14 am

More than 30 years being a lawyer and landlord. We are halfway through our exit of purpose built rentals. Tough business as there is no limit to landlords responsibility for life and safety . Insurance does not cover all the gaps. Expect to spend several thousand each time a tenant moves out. Finding good trades is an issue and they come at a premium. No limit on costs but rent increases are capped. Expect costs to be about 45 % to 50% of gross income not including debt. This is for a large building.
REIT paid premium money for our building. They will pump in millions ,seek above guideline increases and turnover the entire tenant profile. Result = Substantially higher rents. But that will take years and until then their financials are poor on a per building basis, but they don’t care as they have thousands of suites so on a consolidated basis it’s a rounding error.

#64 DC on 07.07.22 at 7:25 am

Just wondering when the PM or Minister of Transportation are going to weigh in on the mess (logistic and security) that are Canadian airports. Surely there must be some sort of plan in place by now to help alleviate the pressure that Pearson and others are experiencing.

#65 M on 07.07.22 at 7:46 am

Hi Garth,
do you think SP500 has already priced in the potential (unless the target has been changed) FED interest rate of 3.5%?

Thanks,

#66 Van Stash on 07.07.22 at 7:48 am

DELETED

#67 Boris Johnson the combed with a grenade on 07.07.22 at 8:06 am

Is finally gone, what is Trudeau waiting for ??

#68 crowdedelevatorfartz on 07.07.22 at 8:23 am

@#51 T-Rex
“You lot thought T2 was a fascist.
Well…..here comes Pepe”

++++
Fascists to the Left of me.
Fascists to the Right..
Here I am.
Stuck in the middle with you.

$$$$$$$$$$$$$$$

@#62 Jane24
” One should always have an Oxford dictionary on one’s shelf.”
++++
We are not amused.
Only guttersnipes would find poppycock a sexist term.

#69 crowdedelevatorfartz on 07.07.22 at 8:26 am

@#61 AC DC
“The weather in Canada sucks and the people are unbearable.”
+++
It’s okay you can say “Vancouver” instead of Canada.
We’re used to it.

#70 crowdedelevatorfartz on 07.07.22 at 8:33 am

@#167 Canuck Patriot
“from what i gather you’re all out west, maybe get together and hug it out or something.”
+++
Hugs.
Like this Eastern Canuck?

https://www.telesurenglish.net/news/Trudeau-Visits-Cuba-40-Years-After-His-Father-Befriended-Fidel-20161114-0006.html

#71 crowdedelevatorfartz on 07.07.22 at 8:37 am

Adios Boris

https://www.reuters.com/world/uk/uks-johnson-digs-ministers-desert-government-2022-07-07/

#72 Dharma Bum on 07.07.22 at 8:42 am

But being a landlord sucks. Worse than blogging. – Garth
—————————————————————————————————-

Ain’t it the truth!

At least with blogging all you have to put up with is a benign steerage section.

With landlording (I lorded over land for 10years), you have to put up with tenants who are scammers, grifters, lowlifes, flimflammers, con artists, welfare cheats, chiselers, deadbeats, druggies, filthmongers, weed growers, hoarders, cat ladies, carpetbaggers, wifebeaters,
dippers, layabouts, loafers, spongers, wasters, parasites, and Giant Tiger shoppers.

#73 Stan from Canmore on 07.07.22 at 8:59 am

#155 ARS on 07.06.22 at 1:36 pm
“we can pick a longer timeline if you want, one that crosses currencies. gold still wins.

Gold is not money. It’s a rock. – Garth”

IMO, if gold is only a rock and earns no interest as is rationalized and mainstrean repeatedly publicize, why do the central banks of the world keep so much ?

If they want to get rid of these ‘rocks’, I will gladly take it.

Send it to me at this address ……….. I will even pay your courier charge or, better still I can back up a truck and load it up myself. With a few strong men.

Did you hear that Bank of Canada, Mr. Tiff ? I am willing to take your gold since it is not worth anything to you. Oh ya, I forgot, you sold all your gold decades ago, same as you, Bank of England

#74 Stone on 07.07.22 at 9:10 am

#55 Rural Rick on 07.07.22 at 1:19 am
My experience as a landlord was 2/3 of my tenants were awesome. The other third were time consuming. Get hooked up with a good para legal if you are going to do it.

———

A lawyer recommended to use a para legal. Really? Lol

#75 the Jaguar on 07.07.22 at 9:14 am

Meanwhile, back at the real estate ranch as they relate to denial…..(NP snippet)

“Sellers are taking much longer to adapt to the shifts in the market and are wistful for the conditions seen months ago. “The sellers are hanging on for dear life.

It’s sort of like people with their knuckles just like grabbing on,” Morrison ( a mortgage broker), said.

“They’re saying, ‘yeah, but my neighbour sold their house for x in February and I want that price’ and everyone’s trying to explain to them you’re not going to get that price.”

Morrison expects more listings to hit the market in September, when people have wrapped their summer travel plans.
She said “It’s going to be great for the buyers, but I don’t think it’s going to be that great for the sellers.” ++++

#76 inflation is rampant on 07.07.22 at 9:29 am

with the US already in a technical recession (yes. it’s true) the yield curve 2-10 year is completely inverted. two more hikes by the US Fed taking fed funds to 3.25% and 3 month -10 year completely inverts. (the same in canada)

IF the Fed stops there, we may get a mild recession. maybe. IF CPI comes down VERY rapidly. (it won’t). with the commitment by the FED to stamp out inflation, they will get closer to 4%.

but central banks have ZERO CREDIBILITY. NONE. they are completely incompetent. and so, we all know they will botch things up…

so get ready.

#77 maxx on 07.07.22 at 9:30 am

““Things got busy and we both forgot to respond…””

How could they know they had to respond? They must have opened the mail in order to know that. Unless it had a big, fat stamp on the outside of the envelope stating that a response was required, either way leaving very little room for sympathy.

It’s a slam dunk that their knowledge of the value of money will be increased. By a lot.

Millions more will also come to understand the value of money. Rates are normalizing and will create 20/20 visions of forever-lost opportunity in rear-view mirrors.

#78 Ponzius Pilatus on 07.07.22 at 9:34 am

#72 Dharma Bum on 07.07.22 at 8:42 am
But being a landlord sucks. Worse than blogging. – Garth
—————————————————————————————————-

Ain’t it the truth!

At least with blogging all you have to put up with is a benign steerage section.

With landlording (I lorded over land for 10years), you have to put up with tenants who are scammers, grifters, lowlifes, flimflammers, con artists, welfare cheats, chiselers, deadbeats, druggies, filthmongers, weed growers, hoarders, cat ladies, carpetbaggers, wifebeaters,
dippers, layabouts, loafers, spongers, wasters, parasites, and Giant Tiger shoppers.
———————
That’s what happens when you’re a “slam lord”.

#79 Quintilian on 07.07.22 at 9:37 am

“Hey Garth looks like your obituary for work from home was a tad premature:”

Most money managers/experts make the same mistake.

They read the financial section of the paper, when the more predictive path guide is in the leisure and lifestyle section.

News flash, kiddo: Ipsos poll finds 74% of workers have returned. Why? Because most want to. Get out of your jammies and get into the game. – Garth

#80 Pauline on 07.07.22 at 9:56 am

I am a minimum wage worker and work many hours, 55 hour weeks. I came to Canada in 2010 with my husband, family and we work full time 6 days a week usually 40 weeks a year but other weeks slower periods of 35 hour weeks since coming to Canada only after 3 weeks. I never got any welfare or other government assistance, even child benefits. I don’t even want the HST credit and other government benefits but they will not take it back. We have it in a separate account from our money in case they want it back. My husband and I came to Canada to have more money and be more independent with our family. My husband also is a minimum wage worker working many hours 55 to 60 hour weeks for at least 45 weeks a year and with our 3 children we chose to live in a smaller town, much lower cost of living and in 12 years, against everyone saying we would live in poverty and never get our head above water, we have managed to save $280,000, have no debts of any type and we rent a decent house for modest rent, 18% of our net income as the landlord knows we take very good care of the property and maintain it well and always pay on time actually usually a day or two early. We are determined to do all we can to not rely so much on the government and the only way they can stop us is as I have seen in other countries is create poverty and steal everyone’s money.

#81 Philco on 07.07.22 at 10:16 am

#34 Where Are You Hiding Our Money Greedeau? on 07.06.22 at 8:24 pm

These guys have been steeling us blind in so many ways and has gotten blatanly worse.
And spend and pretend and EVERTHINGS GOING TO BE ALRIGHT. Then the SHTF.
Greedeau was on my hate list since day 5.
I can see right through these pigs at the trough. Its a gift.

#82 J on 07.07.22 at 10:37 am

We own some commercial property, and have about 15 years experience with this. For many years I thought that our overall management was the key driver to our success. Now I know that, really, there are only two variables that matter the most: (1) leverage and (2) cost of money. Number 2 is higher now and it seems like banks will give you less of number 1 nowadays.

Honestly, if we could have applied the same amount of leverage over the past 15 years in a B&D portfolio, we’d be even further ahead. Moreover, there would be less concentration risk and probably less time spent on it.

#83 Shawn on 07.07.22 at 10:41 am

REIT versus your own apartment building

#56 Balmuto on 07.07.22 at 1:25 am
#13 REIT this, not that on 07.06.22 at 5:40 pm
“Why not forego the festivities and the complications of direct ownership and just buy a good REIT? “

Leverage.

*******************
Exactly.

Plus psychic income and bragging rights. Plus the ability to be “Lord” of the building and its inhabitants.

#84 Shawn on 07.07.22 at 10:49 am

Alberta Oil Brings Home The Bacon

The June merchandise trade surplus was $5.3 billion! You can mostly thank Alberta oil for that. Energy and Alberta are bringing home the bacon for Canada. Yes, the current high prices are mostly dumb luck. The existence of the resource is certainly dumb luck. But the industry was developed with effort over time to take advantage.

“The harder I work, the luckier I get.”

No country needs to export anything… unless it likes to import things. Think of all the things Canada imports. Exports in the net pay for imports.

If you are thankful for the prosperity of Canada then perhaps give a little thanks to Alberta and the oil industry.

https://www150.statcan.gc.ca/n1/daily-quotidien/220707/dq220707a-eng.htm?CMP=mstatcan

#85 crowdedelevatorfartz on 07.07.22 at 10:50 am

Seems the Christian Right has been busy in Georgia ridding the world of “satanic” messages….

https://www.cbsnews.com/news/georgia-guidestones-blown-up-explosion/

What’s a God fearing Republican supposed to do when Satan is in his back yard.

https://www.fox5atlanta.com/news/georgia-guidestone-explosion-former-georgia-gubernatorial-candidate-kandiss-taylor-reacts-to-destruction

#86 Horaz on 07.07.22 at 11:09 am

Sydney NS?is anywhere more down-market …maybe Windsor????

#87 No way, the seventh wave of COVID has arrived on 07.07.22 at 11:19 am

News flash, kiddo: Ipsos poll finds 74% of workers have returned. Why? Because most want to. Get out of your jammies and get into the game. – Garth

It’s so deadly I plan to work in my pajamas until I retire or let go..

LMao

#88 crowdedelevatorfartz on 07.07.22 at 12:05 pm

“Get out of your jammies and get into the game. – Garth”

+++
Not to worry Garth.
The looming recession will deal with the layabouts and whiners.
I spoke with a Burnaby City worker yesterday in Rona.
We were buying material for our respective jobs.
The guy was about 40 years old.
He couldn’t believe the attitude of the lazy sloths applying for the City.
ALL govt agencies are hiring and there is a dearth of applicants.
Out of 4 weeks of job postings……ten applicants….one was hired…and he lasted 1 month on the probationary period and was let go.
This worker couldn’t remember the last time a “temp/full time ” worker was canned.
” I cant believe where all the workers have gone to…where are they?”

“Blame Trudeau and the Woke pc haranguing policies that have caused the older workers to walk away into retirement” was my response, “And none of the kids know how to find or hold a job.”

#89 TurnerNation on 07.07.22 at 12:05 pm

Sydney NS? Do they allow fireworks, and their thoughts on flags?

Cape Breton is a No-Go Zone for all.

This film was back in 2006 how bad is it now.
Meet your new tenants:

https://www.nfb.ca/film/cottonland/
“n this feature-length documentary, photographer Nance Ackerman describes the havoc prescription painkiller OxyContin wreaked in the already weakened Cape Breton town of Glace Bay. The film guides us through a culture of economic and social depression where we encounter men and women at different stages of dependency. Demystifying the world of the addict while showing us the complex social nexus that led to such despair, Cottonland emphasizes the importance of a collective approach to tackling addiction.”

#90 Sail Away on 07.07.22 at 12:06 pm

#84 Shawn on 07.07.22 at 10:49 am

Alberta Oil Brings Home The Bacon

The June merchandise trade surplus was $5.3 billion! You can mostly thank Alberta oil for that. Energy and Alberta are bringing home the bacon for Canada. Yes, the current high prices are mostly dumb luck. The existence of the resource is certainly dumb luck. But the industry was developed with effort over time to take advantage.

——–

Yes, correct.

The one big problem with Alberta’s oil, though, is the province’s failure to get a proper legacy fund in place. Without this, your pocket will continue to be picked… forever.

Look to Norway or Alaska.

https://thenarwhal.ca/norway-s-oil-savings-just-hit-1-trillion-alberta-has-17-billion-what-s-gives/

#91 Don Guillermo on 07.07.22 at 12:09 pm

#59 Free Jollies on 07.07.22 at 1:43 am
#47 Don Guillermo on 07.06.22 at 10:57 pm
#43 Free Jollies on 07.06.22 at 10:42 pm

Just hope you thanked a taxpayer.

How? Why? I’m just a we’ll educated lump of pintos without vocal chords who pays much higher tax rates than I would have working down at the restaurant. In just a handful of years, the difference has more than made up the cost of my education. You are confusing my little bean brain.
**********
As confused as you are you’re still our Jolliest Glaciologist. It might help to hug a real taxpayer anyways.

#92 Macduff on 07.07.22 at 12:14 pm

Seeing some of the stupid comments here reinforces the fact that the comments section has exceeded its usefulness.

#93 Shawn on 07.07.22 at 12:15 pm

Why no Huge sovereign wealth fund in ALberta?

The one big problem with Alberta’s oil, though, is the province’s failure to get a proper legacy fund in place. Without this, your pocket will continue to be picked… forever.

Look to Norway or Alaska.

*******************************
Alberta oil and particularly oil samnnds could neve support the royaty levels of Alaska aor NNorway oil.

In Alberta extract oil from sand. Expensive!

In Norway, stick a straw down to an oil pool, albeit under the sea in Norway. Not sure about Alaska but oil is not extracted from sand there.

Far from picking my pocket Alberta chose to fund expenses from oil royalties rather than impose a sales tax or higher income tax. We have the lowest taxes by far.

Anyhow, always lots to criticize. I merely point out that it is Alberta oil that is truly bringing home the bacon to Canada at this time. As I documented a week or so ago, Energy as a net export is higher than the next highest (farming adn forestry) by a factor of more than five. Autos are a net import.

#94 Dr V on 07.07.22 at 12:33 pm

90 Sail Away

“Look to Norway or Alaska.”
———————————————–

Ah yes, Norway. “Oil for leisure”. A goodie from the NYT years ago.

https://www.nytimes.com/2009/05/14/business/global/14frugal.html

And a little study on grid requirements to electrify the fleet in BC

https://www.cbc.ca/news/canada/british-columbia/b-c-electricity-requirements-for-ground-transportation-2055-1.5341996

And finally, a breakdown of global ghg emissions by sector

https://ourworldindata.org/emissions-by-sector

#95 Faron on 07.07.22 at 12:37 pm

Headed up to Nanaimo. Gonna get me a reuben at the Oxy ’round lunchtime. See if it’s worth the fuse.

#96 Sail Away on 07.07.22 at 12:42 pm

#85 crowdedelevatorfartz on 07.07.22 at 10:50 am

Seems the Christian Right has been busy in Georgia ridding the world of “satanic” messages….

——–

Heh. Nimrods.

All religions have the capacity to turn people into dough-headed nimrods.

How can religions be recognized? Let’s see… blind adherence to doctrine, condemnation of skepticism, lack of scientific evidence, nonfactual beliefs, encouragement of mob mentality…

Consider the following statement:

‘A boy can become a girl’
‘This weather event is definitely due to climate change’
‘Fiery, but mostly peaceful protests’
‘God told me to do it’
‘Tamara Lich is the most dangerous criminal mastermind since Machiavelli’
‘Real estate only goes up’

#97 Sail Away on 07.07.22 at 12:50 pm

@Shawn

Re: Legacy fund

Alberta’s pocket will continue to be picked by Ottawa without better controls to keep more profits in the province.

#98 Free Jollies on 07.07.22 at 12:53 pm

#91 Don Guillermo on 07.07.22 at 12:09 pm

…a real taxpayer…

Is “real taxpayer” a box I have to check on my tax form? Do real taxpayers wear a special coloured sweater? Would a real taxpayer even want to hug a cold, damp bean?

#99 Dina on 07.07.22 at 2:59 pm

Pauline, I don’t know what your $280,000 is in but hopefully you don’t have it all in savings as interest rates there at best can be 1.5% to 2.5% with certain promos. You and your husband did a good job taking care of yourself and family with minimum wages. I am really impressed. It goes to show what new Canadians can do in Canada, their work ethic and family. You can now get 4.5% to 5% GICs and with that kind of money you can earn $12,600 to $14,000 a year paid into your account interest. You say you work getting paid minimum wage, $15.55 an hour here in Ontario means 810 to 900 hours of work. Well with your hours that is 14 to 16 weeks of work actually more as you do not pay CPP, EI on interest income.

#100 Denise on 07.07.22 at 7:38 pm

It looks like Pauline came from a country hard hit by a government that used up its people and spit them out. I find interesting your story and minimum wages are currently $15.00 an hour in Ontario will be $15.50 on October-1-2022. This is the accurate minimum wage as of today.

However, in higher priced cities, regions like Toronto, GTA, Vancouver, Victoria etc. $15.00 or $15.50 is a low wage hard to live on but a prudent, budget intelligent person could make it work but a more real wages after inflation should be $18 an hour in the highest priced cities, regions. I think the problem today is family and friends not really working together. If you had a family with 2 parents working and having 2 adult kids working splitting expenses, costs of living, $15.50*44 hours a week=$682*4=$2,728 a week gross is $141,856 a year. They could afford a decent house to rent and put some real money aside, it is all about discipline and priorities in their lives. They should stay out of debt first and maximize the RRSP and TFSA each year to its fullest which is $12,300 a year each and keep that going for many years. Even in 10 years, it is $160,000 per person which is decent money for minimum wage workers. Working together is what is missing in today’s society and stop listening to those that keep them down.