Hippity hop

Recently this paleo blog moaned about the impact of the Four Horsepeople of the Post-Covidian era. You know. WFH. The Great Resignation. Quiet Quitting. And FIRE, wherein everybody wants to retire at thirty.

What a world we’ve wrought. Employers have to coax and bribe people to go back to their workplaces. Nobody wants to commute anymore. Younger workers ask, “Why?” when confronted with career-building. Since owning a house is the object of life, and a salary no longer gets you there, what’s the point? So that’s led to a work-to-rule mentality. Even crazy ‘right-to-disconnect’ legislation. Seems few are motivated to slave for a corporation in the name of success and status. These days it’s all about experiences and gratification. YOLO. Hence the drive for financial independence (which I respect) and to retire early (no respect).

But wait. There’s a new one. Job hopping.

Now that employment loyalty’s been faded by a pandemic, plus two years of working in your jammies with scant connection to bosses or colleagues – and in a tight labour market – it’s all about money. Inflation. Real estate. Kibble. Price escalation is changing everything. Wages and income demands are rising, just as worker engagement is plunging.

The jobs report Friday was an eye-opener. One in nine employees say they plan on leaving their current position. That compares with one in 20 who felt the same way in July. It’s seriously bad news for employers already trying to fill a record number of vacancies. In fact never before has Canada seen so many jobs go begging – reflecting what Ryan described in the US here on the weekend.

So economists fret about this. Two reasons. First, empty chairs mean a less productive economy. Combined with supply chain wonkiness and a rapid bloat in interest rates it all suggests a slowdown is coming. Second, wage pressures are building fast – that fuels inflation (which leads to more demand for money… a vicious circle).

In fact, according to Scotiabank’s Derek Holt (smart egg), wages are now catapulting higher than the overall cost of living.

The strong wage figures, however, will fan concern at the Bank of Canada that wage-price spiral dynamics are being driven. Average hourly wages for permanent employees were up by 9.6% m/m at a seasonally adjusted and annualized rate. 9.6%! This measure has exploded over the past four months with gains of 10½% in May, nearly 12% in June, 8½% in July and 9½% in August.

Can rising wages and lower productivity – in part due to worker ennui – be a good thing? Not a chance, say the econs. It’s now a key part of the inflation story, pushing the Bank of Canada to increase rates. Another 50 bps on October 26th, with a similar hike in December. By Christmas the prime at the chartered banks will be 6.45%. Home equity loans will be 7%. VRMs well over 5%. And rents to follow.

Meanwhile more job hopping – if 12% of the workforce does it – will exacerbate the income spiral. As this is happening, there’s evidence the economy is starting to shift into a lower gear.

In the last three months we’ve lost 114,000 jobs. The jobless rate just climbed from 4.9% to 5.4%. Still low. But higher. This is how TD economists see it: “We’d argue that a slowing labour market is what is needed to ensure that this high inflation environment does not become entrenched. The labour market is coming from levels of extreme tightness and has been due for some giveback. This is exactly what is currently playing out.”

Now, that’s interesting. Maybe the 1,200% increase in the Bank of Canada rate we’ve just seen is starting to play out. Employers shedding positions, especially full-time ones (almost 80,000 disappeared in August). Real estate torpor. Retail sales softening. Simple-solutions firebrand elected.

Could it be the time to quietly quit, refuse to get out of your PJs and into the car, retire at 31 or dis your boss and job hippity hop was, oh, three months ago? After all, if we slide into a rate-induced recession the jobless rate will spike, the bosses will be back in control and WFH will become LOL.

Beats me. But I’d be a tad careful about a gleeful resignation email or standing on your desk and mooning the C suite (always wanted to do that…). The pandemic years are coming to a crashing, definitive end. Be ready.

About the picture: “We’ve always had at least two GSDs to keep the pack entertained,” write Pansy and Gunnar, in Ontario. “Each with a completely different personality. One thing they all have in common is digging holes, intently watching us navigate the minefield at the cottage. This is Wolfgang (13M) and Loki (4M) taking turns to dig the holes deeper, hoping for a fall so they can ensnare us with slobbery kisses.”

160 comments ↓

#1 SunShowers on 09.12.22 at 2:40 pm

If I call up a restaurant and order a medium 2 topping pizza, and I’m not given a large 4 topping pizza for the same price, is that restaurant “quiet quitting” me?

You get what you pay for.

If you really want to know why there is so much “job hopping” now, ask yourself this: What came first? The disappearance of DB pensions (which REALLY incentivized staying at one job for a long time), or the pandemic?

Just wanna make sure you put the blame in the right place, because I sure as heck am not busting my butt holding up my end of a deal that the capitalist class reneged on before I was even born.

Nobody ever had the right to a lifetime defined-benefit pension. – Garth

#2 Captain Uppa on 09.12.22 at 2:44 pm

Garth, why do you place honour on commuting? The thousands of people who work at the big banks downtown, for example, can’t all live and raise families in a close proximity area.

So commuting = productivity? WFH = laziness? If someone is a bad employee doing WFH, you can be assured they are just as bad an employee working from the office.

If anything, WFH can sniff out the waste.

Now where did I say commuting was honourable? It just builds survival skills. – Garth

#3 enthalpy on 09.12.22 at 2:46 pm

Are wages really ” up” ? Or is the fact people are quitting low paying jobs driving up that average?

#4 bguy1 on 09.12.22 at 2:51 pm

Maybe there is a reason:
https://twitter.com/profgalloway/status/1564608212489437190/photo/1

#5 Matt on 09.12.22 at 2:54 pm

Yes, I will job hop for better pay. It’s a lot better than sticking it out in the hopes of a raise. The one-way street of employee loyalty is a dead end. I spent my 20s slaving away for a corporation (as you so eloquently put it) and it got me no where. I’ll go where the money is because I sure as hell know that not a single employer will return the favour of loyalty.

#6 Captain Uppa on 09.12.22 at 2:55 pm

Now where did I say commuting was honourable? It just builds survival skills. – Garth

So I can go live in the wild because I took the Go Train for 2 hours each day? Sweet!

Wonder how the wifi is out there.

#7 Tom Grozny on 09.12.22 at 2:59 pm

“ or standing on your desk and mooning the C suite (always wanted to do that…)”

I’ve heard a story of exactly that happening twenty or so years ago at a certain canadian institution on Wellington street. Any chance this is what you are referring to?

#8 SunShowers on 09.12.22 at 3:01 pm

“Nobody ever had the right to a lifetime defined-benefit pension. – Garth”

And nobody ever had the right to loyal employees, least of all ones who would work for substandard wages and scant benefits.

#9 crowdedelevatorfartz on 09.12.22 at 3:02 pm

Yo Ponzie.

Seems the sanctions on Russia might be working after all…

:)

https://www.reuters.com/world/europe/after-ukraines-gains-kremlin-says-military-operation-will-succeed-2022-09-12/

Russia in full retreat and Putin focusses on the economy

#10 Arctic Gringo: Qalunaaq on 09.12.22 at 3:03 pm

Here I am looking for a part-time gig to fill the hours between 5pm to 8pm and weekends.

Has to be remote, in field of GIS, geomatics, spatial analytics.

* Greaterfool username indicative of coast-to-coast-to-coast area of residence *

Sleddogs and kids are expensive.

#11 Mike on 09.12.22 at 3:06 pm

Those 2 dogs are going to bury that freshly immobile toy (with the artificial teeth marks) for later indulgence. Think of the one dogs name as Pierre and the other dogs name, Poilievre. They appear to be intent on pulling the rug out from under the profiteers of Placebo Capitalism.

#12 XEQT and chill on 09.12.22 at 3:11 pm

No article about PP, Garth? I was hoping to hear your take on that and what it means for our political landscape.

#13 Love_The_Cottage on 09.12.22 at 3:15 pm

So Garth, you can confirm you do all writing, reviewing comments and talking to clients from the office, never remotely?

#14 RIchieRich on 09.12.22 at 3:15 pm

#1 SunShowers on 09.12.22 at 2:40 pm
If I call up a restaurant and order a medium 2 topping pizza, and I’m not given a large 4 topping pizza for the same price, is that restaurant “quiet quitting” me?

You get what you pay for.

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

I worked many “menial” jobs in my early career. I always pushed hard, showed up with my attire clean and pressed, did the proverbial “going above and bond”.

I never thought of as doing it for “the man”. I did if for myself.

Strangely enough, I’ve reaped much success in pretty much all arenas in life thanks mainly to this approach – a simple matter of self-respect.

I feel sad that you and so many others think so poorly of yourselves that you have to try and rationalize putting in the bare minimum at anything.

It’s the epitome of a loser mentality. And if you were able to be honest with yourself I think deep down you KNOW it is, and feel like crap when you just apathy along in life.

But, best of luck.

#15 Doug t on 09.12.22 at 3:19 pm

The West is in a coma – if/when it comes out of said coma it may be too late anyway as there already appears to be brain damage

#16 Bankrupting Landlords is good for the Economy on 09.12.22 at 3:22 pm

Re: the 9.6% annualized wage growth.

Wouldn’t the rise of the minimum wage in different provinces be a cause for this?

#17 K dog on 09.12.22 at 3:23 pm

If unemployment rises even from the absurd lows, how much would that effect retirement funds and pensions?

#18 Breaking News! on 09.12.22 at 3:27 pm

Ever notice they always drop the really big stories when everyone is distracted? Well, while everyone was busy mourning the queen, anonymous sources have revealed a list of all the things the FBI seized during the Mar-A-Lago raid:

– The “Russia collusion” docs
– Receipts for the “Steele dossier”, signed “HRC”
– Receipts for Soros and Zuckerberg political donations
– A copy of Hunter Biden’s laptop hard drive
– Epstein’s client list
– Vaccine efficacy studies
– Pelosi’s husband’s trading records
– Hillary’s missing 30,000 emails, signed “yours – V.P.”
– Unreleased videos from Jan 6th
– BLM financial records
– ANTIFA financial records
– The “nuclear codes” (turns out it is “Password1234!”)
– Targeting information for mysterious locations in Mexico
– “Fang Fang’s” phone
– A Dominion voting machine “hacked” to play Pac-Mac, only the ghosts have been replaced with RINO’s
– A signed copy of “2000 Mules”
– All Time magazine editions with Trump on the cover
– 2 boxes of copies of the “Melania” GQ edition
– A VHS copy of “Home Alone 2”
– “The Apprentice” box set on DVD
– A director’s edition of “Eyes Wide Shut”, also on DVD
– The Stormy Daniel’s anthology on VHS
– Love letters from Kim Jong Un
– A framed picture of Kim Jong Un & Trump shaking hands in North Korea (framed in pink hearts)
– A photo of John McAfee and 3 unknown women on a beach, J.M. wearing an “Epstein didn’t kill himself” t-shirt, photo personalized “Wish you were here! – Aug ‘21”
– A 1/32 scale model of “The Wall”
– Melania’s underwear
– Barron’s porn stash
– Exit polls from the 2020 election (I wondered where those went)
– 3265 McDonald’s receipts
– Colonel Sander’s secret recipe
– The formula for Dr. Pepper (it’s mangrove root)
– Secret info on the heretofore unknown Israeli nuclear program which doesn’t exist
– A copy of the classic “How to Lie With Statistics”
– A signed copy of the Ayn Rand anthology, highlighted
– A copy of “Golf for Dummies”, also highlighted
– Top secret UFO information, marked “declassified” in glitter ink
– Top secret communications with our alien overlords, also marked “declassified” in glitter ink (the aliens use @SETI.com)
– Putin’s personal phone number (in glitter ink)
– A fake “proof of neuralization” record (all presidents must be neuralized when leaving office to safeguard secrets, just like MIB agents. Otherwise they might sell secrets.)
– A copy of Joe Biden’s actual “proof of neuralization” from when he left the vice presidency
– Trump’s real tax records, redacted
– The “black budget”
– 350 empty folders marked “Top Secret”
– A receipt from Party Central for 350 gag folders
– Barack Obama’s birth certificate (original)
– Justin Trudeau’s birth certificate (copy), altered in glitter ink
– An otherwise empty safe containing a single MAGA hat. (Safe damaged by standard FBI safe opening explosives, MAGA hat undamaged.)
– A sticky note “12-92-69” in glitter ink found on safe door

Political commentators have noted that this is certainly enough evidence to convict Trump on all forthcoming charges without trial and sentence him to 99 life sentences with no chance of parole and no McDonald’s for 5,000 years. The walls are closing in this time! The charges will be released 10 days before the November elections in order not to interfere with the election results, as by then it will have already been decided by mail in ballots.

#19 Victor Llearna on 09.12.22 at 3:36 pm

Commuting is for SHeep. Riding with those GO train sheep was pure hell, will never go back to that without a 4 fold salary increase.

#20 Squire on 09.12.22 at 3:38 pm

Garth, you make a good point. However, I’ve in the position before where no matter what I did there was not real increase in pay or promote me. Only the one’s that earned ‘favors’ moved along. So, I left for a competitor and making more money doing the same work. No regrets. Nepotism is real, perhaps that’s more of an issue then WFH. And by the way, I WFH as well as the office and find I’m more productive at home. I do understand that collaboration in the office is important as long as the employer fosters a fair work environment. Just my opinion.

#21 Bort on 09.12.22 at 3:39 pm

Good post.
I’ve had 3 open jobs since June and we can’t find anyone to take the positions for what i would consider a good market wage. We negotiated our pricing with customers in 2021 so we can’t just pass on huge wage increases to customers.

Therefore – we push out the work so that our current team can do it. We make less revenue and our customer has the economic benefit of the work done pushed out to next year.

The perfect recipe for an economic slowdown.

#22 TalkingPie on 09.12.22 at 3:39 pm

Who would have thought that denying workers tangible rewards for working hard over the past few decades would disincentivize them from working hard?

Boss makes up to 100 times what they do and that multiplier increases every year. For many people living in a nice home is an unrealizable dream no matter how much overtime they do. Working conditions have gotten worse every year while productivity increased, and workers are laid off as soon as there’s a blip on the balance sheet, with many companies coming off the back of making record profits from the pandemic while front line workers were either laid off or beset by stressful working conditions with little to no reward.

Yup, better work harder and more loyally without asking anything in exchange. For the sake of the economy.

#23 Squire on 09.12.22 at 3:41 pm

Darn spell check… sorry
“…Garth, you make a good point. However, I’ve been in the position before where, no matter what I did there was no real increase in pay or promotion. Only the one’s that earned ‘favors’ moved along.”

#24 Quintilian on 09.12.22 at 3:41 pm

#12 XEQT and chill on 09.12.22 at 3:11 pm
“No article about PP, Garth? I was hoping to hear your take on that and what it means for our political landscape.”

I think it could be easily summarized as:

Congratulations to the Liberals.

#25 Linda on 09.12.22 at 3:47 pm

If reincarnation is a thing, have to say coming back as a beach pup would be a recipe for happiness:)

Regarding worker loyalty: as an employee, always felt the deal was I did the work, I got paid. Benefits etc. were a nice bonus, but more often than not there was a deduction on the paycheque to help cover the cost of having them. Which was fair. Point being, my loyalty was limited to said exchange of labor for income. Since employers could & would shed positions as required to turn a profit or at least stay ‘in the black’ on their balance sheets saw no reason to not look to improve my situation by finding better paying work. On my own time, naturally.

Can’t see how one can blame employees for looking to improve their financial situations, especially with the increase in prices for so many of life’s necessities like shelter, food & yes, health care. Even for those who are happy in their current position, practicality must prevail. If they aren’t making enough to cover the monthly expenses at their current position & their employer can’t or won’t pay enough then the only option is to move onto other work that pays better. Because your service providers expect to be paid.

#26 Beavis on 09.12.22 at 3:49 pm

Good article from Bloomberg summarizing the state of the global property market. The Polish and S. Korean government bailing out variable rate mortgage holders is interesting (and scary)

https://www.bloomberg.com/news/articles/2022-09-11/world-s-hottest-housing-markets-are-down-all-over-as-interest-rates-hike

#27 TurnerNation on 09.12.22 at 3:53 pm

Kanadians trapped in their particle board prisons, the prospect of runaway mortgage renewals Uppa up.
Those saving for a down payment, all these years? May no longer qualify for the financing — at these rates.
They like the others, facing rocketing rental costs.
All this is to say, they will own nothing and be happy.

—– In the 905 belt of the GTA most every business displays a Help Wanted sign.

– In the 416, robots. Dust off those Depression era “No Men Wanted” signage:

https://www.blogto.com/eat_drink/2022/09/loblaws-cashiers-self-checkouts/
Loblaws eliminating more cashiers in Toronto stores and adding self-checkouts

#28 West New West on 09.12.22 at 3:53 pm

Wolfgang and Loki, beautiful dogs and thankful that they have a place to dig when many big dogs in the city don’t….I’ve been working from the cabin last 10 days, watching as my dog continues to work on his hole at the end of the porch and then sleep in it all day…..and as he gets deeper and deeper, each day I can see less and less of him……

In the 90’s I would have called it NAH (Never At Home). To get ahead you had to get there before anyone else and leave after everyone else….hard work paid off….but did cause a lot of family stress in the home.

#29 Adam on 09.12.22 at 3:54 pm

Interesting times we live in.

“Younger workers ask, “Why?” when confronted with career-building. Since owning a house is the object of life, and a salary no longer gets you there, what’s the point?”

A troubling question. What is the answer? It used to be, for your generation anyways, that if you got a job (pretty much any job) you could get a house. My mom and dad bought their first home after he got a a job working as a tow truck driver. It wasn’t pretty, but it was an old detached home in a rough part of Vancouver. I think this next generation will be called “Generation D” – with the “D” standing for “Disenfranchised”

#30 zxcvbnm on 09.12.22 at 3:56 pm

I work to rule. I sympathize with some of the above comments in that I too have never really experienced any benefit from working harder than expected. It could be that I’m a lazy slacker / toxic person, though. How does one fix that? Life is hard, and work sucks. Facts. The only reason I work at all is for my family – I’d otherwise be drunk/dead on a beach in Cambodia years ago

#31 earthboundmisfit on 09.12.22 at 4:05 pm

If Crypto Pete believes even half the nonsense he has been spewing, my new handle is going to be HomelessRedTory. I’d like to believe it’s not him, it’s Jenni. Evil woman that one. Can you picture her running the PMO? She’ll make Katie seem like Mother Theresa.

#32 chalkie on 09.12.22 at 4:08 pm

What a different world, I guess I was born in the wrong generation, I would love to have another 20 years to hang around, just to see where this global demanding ship sails to. WFH Don’t want to get out of PJs in the morning but do expect at a minimum.

1. Performance evaluation and recognition. When you work hard to achieve a company’s goal, you want your work to be noticed and recognized because you live for recognition and a pat on the back everyday.
2. Competitive pay and good benefits because down the street is offering them.
3. Corporate social responsibility (CSR), paid lunches with the boss one a week so he understands how important I am to the company & a credit card to take the boys out after work a few times a month, and I need to leave a 30 or 40% tip to impress our local waitress and waiter at the bar.
4. Flexibility, to set my own works hours, because I have to pick up the kids, go grocery shopping, the dentist and to the barber because my hair grew on company time.
5. Opportunities for learning and development that I can use at my next employer.

Take the advice your grandad gave you, quit your whining and move forward with an appreciation smile, in making the world a better place for the generations coming behind us.

#33 IHCTD9 on 09.12.22 at 4:08 pm

Maybe we’re heading into Japan mode. Hoards of “Herbivore Men” who don’t care to work or have kids. Boatloads of 60+ y/o individuals projected to be 1/3 of the population in a couple decades. Japan will lose 50% of its current population numbers by 2100 if current trends continue.

In Japan, sales of adult diapers surpassed diapers for babies in 2014. Will Canada “immigrate” its way out of the same problem? Probably, but it’s not a one-time fix. First Gen Canucks tend to pass on having kids just as readily as 5th Gens. Mass Immigration will need to be permanent. It remains to be seen if Canada continues to be a place that offers the promise of a better life. The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.

#34 RUN DMC on 09.12.22 at 4:10 pm

HARD TIMES

Hard times spreading just like the flu
Watch out homeboy, don’t let it catch you
P-p-p-prices go up, don’t let your pocket go down
When you got short money you’re stuck on the ground
Turn around, get ready, keep your eye on the clock
And be on point for the future shock

Hard times
Hard times

Hard times are coming to your town
So stay alert, don’t let them get you down
They tell you times are tough, you hear that times are hard
But when you work for that ace you know you pulled the right card
Hard times got our pockets all in chains
I’ll tell you what, homeboy, it don’t have my brain
All day I have to work at my peak
Because I need that dollar every day of the week

Hard times
Hard times

Hard times can take you on a natural trip
So keep your balance, and don’t you slip
Hard times is nothing new on me
I’m gonna use my strong mentality
Like the cream of the crop, like the crop of the cream
B-b-b-beating hard times, that is my theme
Hard times in life, hard times in death
I’m gonna keep on fighting to my very last breath

Hard times
Hard times
Hard times
Hard times
Hard times
Hard times

https://www.youtube.com/results?search_query=run+dmc+hard+times

#35 Pbrasseur on 09.12.22 at 4:11 pm

Shrinking participation rate is due to population ageing, there is no stopping this, in fact it has just begun.

The whole thing is exacerbated by two things that prop up demand, the first is the debt bubble (money printing and stimulus) the second is (sorry to bring this up again) massive immigration or at least bad immigration policies.

As a result the labour market will stay stubbornly tight, driving inflation, and only a nasty recession could somewhat reverse that.

#36 Stephladimir Harputin on 09.12.22 at 4:21 pm

“…standing on your desk and mooning the C suite (always wanted to do that)…”

That’s why I got rid of you, Turner.

And don’t even think of knocking on Pierre’s door. He’s my man.

#37 IHCTD9 on 09.12.22 at 4:25 pm

Sound familiar?

“A range of economic and cultural factors contributed to the decline in childbirth [in Japan] during the late 20th century: later and fewer marriages, higher education, urbanization, increase in nuclear family households (rather than the extended family), poor work-life balance, increased participation of women in the workforce, a decline in wages and lifetime employment, along with a high gender pay gap, small living spaces and the high cost of raising a child.”

Some folks speculate the emergence of “Herbivore Men” is related to the live-to-work corporate culture that exploded in Japan during the 80’s – the children of that era probably had checked out of the rat race prior to even getting into the workforce. Maybe our big Metros are seeing the same kind of thing beginning here in Canada.

#38 NOSTRADAMUS on 09.12.22 at 4:26 pm

TINY SHOVELS.
My how the wheel turns. Could it possibly be that the previously reported job strength was in fact just a mirage of added part time secondary jobs ? Now with the downturn in the economy, these secondary service positions are now redundant. As always, stats are for those with an agenda to interpret to their benefit.
New point. Big speculator graves are dug with tiny shovels, – a little more debt added here,- a little more back tax dragging added here, – a little more well deserved luxuries, boats, toys, travel added here. – a little more arrogance and entitlement added here. Tiny shovels, indeed, given enough time can bury any and all overindebted speculators.
New point. Too many people going straight from the job to dementia. No good times for family or friends in-between. Shovelling 16 tons, whatta you get? another day older and deeper in debt. Finally the voice of reason.

#39 Andrewski on 09.12.22 at 4:27 pm

YOLO?
You.
Only.
Languish.
Once.

#40 IHCTD9 on 09.12.22 at 4:29 pm

#24 Quintilian on 09.12.22 at 3:41 pm
#12 XEQT and chill on 09.12.22 at 3:11 pm
“No article about PP, Garth? I was hoping to hear your take on that and what it means for our political landscape.”

I think it could be easily summarized as:

Congratulations to the Liberals.
_____

…and “sorry about your luck” to Canadians.

At least – to those of us who still need to work for decades to come yet.

#41 Nonplused on 09.12.22 at 4:34 pm

“Recently this paleo blog moaned about the impact of the Four Horsepeople of the Post-Covidian era. You know. WFH. The Great Resignation. Quiet Quitting. And FIRE, wherein everybody wants to retire at thirty.”

I say let the quitters quit. Everyone is better off. Salary negotiations are just like any other negotiation, the option to not make a deal is always there.

In the end it’s just more work for those who are interested. They were doing most of the work anyway. Only now they are getting a raise. And not a particularly great raise, a raise equal to inflation isn’t really much of a raise.

I believe people should be free to work if they want, work at nothing if they want, or not work at all if they want. So long as they accept the consequences and don’t expect anyone else to bail them out. Likewise corporations and individuals should be free to hire if they want or not hire if they don’t want. Whining about it by either side won’t work.

It’s like buying a used car on Kijiji. You make an offer. The seller either accepts or rejects it. Pleading your circumstances won’t help. If your offer isn’t good enough you don’t get the car. If the seller is asking too much money he keeps the car. The last thing we want is the government getting involved. If you put the government in charge of the Sahara desert, soon there will be a shortage of sand. This old saying is now being proven once again with energy. There is no shortage of energy. If we take all the fossil fuels, renewables, and nuclear potential and add them together, there is no shortage. But yet you can’t run your a/c or charge your electric car in California. There isn’t even a war there.

So it was bound to happen that the more the government interferes in the labor market, the less of a labor market there will be, until finally there is none.

#42 Perry on 09.12.22 at 4:43 pm

So far, the elephant in the room and it’s impact on everything else has been ignored- demographics.

For 25+ years fewer millennials and younger generations are marrying. Those who marry are having fewer kids.

Fewer are now entering the workforce than leaving it despite immigration.

Our new reality is a smaller workforce.

#43 Steven Rowlandson on 09.12.22 at 4:44 pm

Garth there is nothing new under the sun. This happened in the late 1340s after the Black Death. Too many peasants were killed off by the plague and there wasn’t enough skilled and unskilled workers to do the work so employers had to pay more. Eventually this led to the renaissance because a new middle class emerged due to better pay. In the mid term the employers and nobles tried terrorism to quash any inclination to ask for more money for doing work. It wasn’t always successful. Old habits die hard.

#44 Shaggy on 09.12.22 at 4:59 pm

Garth,
I’ve got great respect for your positions (don’t always agree, but they’re always well thought out and supported). Here, I think that you’re only looking at one side of the coin.

Employers have had the power for quite some time – Offshoring, giving annual salary adjustments below inflation, “efficiency” initiatives that consolidate functions and increase job responsibilities without the corresponding wage increases, DB plans converted to DC, workplace benefits hollowed out, etc. There have been numerous high-profile lawsuits where workers were expected to do more and work overtime without being paid for their time (this happens quite frequently at the Management level) that evidence this.

Now that the pendulum has swung the other way with low unemployment and high inflation, you seem to characterize people who job hob for a promotion/more $, or work only the required amount, as disloyal or uncommitted. The reality is that loyalty to one company disappeared years ago and both the younger generations of workers and employers have embraced this new world. The fact is new employees get hired at market rates whereas 15-20 year employees make much less because their salaries haven’t kept up with inflation.

Like you, I’m a product of the old work hard and you’ll be rewarded mindset, but people with this approach are at a disadvantage in today’s corporate world. I’m too far in to start job hopping now but I certainly won’t be counselling my kids against it when it comes their turn to join the workplace.

Just some food for thought…

#45 ogdoad on 09.12.22 at 5:01 pm

maybe our value system needs to change. Starting from the top (good luck). Maybe we need to steer our society away from the need for teslas and other needless consumer goods and more to engaging humans towards their strengths, community and life long learning. I hear there may be Scandinavian countries trying to do this. More engagement, more happiness in and out of the work place…you know….before AI kicks us out of it any way?

Do we need more engineers designing crap that fits into crap cheaper? Or more dentists? Mercedes SUV sales would drop, but who cares?

Or do we continue with the duped, senseless, existence where the amount of grass care products in your garage defines your status? Or being a middle manager, car sales person, email answerer at a duct cleaning service – gag me with my existence…

Has the wheel of progression missed a gear? Exactly – can’t afford a house…so wtf? I’m going to work for that lifer manager who’s a total nob? BALLS!

Perhaps if all the energy that goes into trying to get the neighbor mad at you with all your toys and houses goes, instead, into other, more productive, community involving things perhaps we’d have 13yo’s solving multivariable problems by now.

In my humble, yet strangely relevant opinion, these FIRE people have gamed and won – [email protected] for those who need some advice…or a digital cuddle.

Og

#46 Søren Angst on 09.12.22 at 5:02 pm

Canadians nowadays all want to become a pet.

3 square meals. Roof over your head. Paw a light on the ground or fetch a piece of wood every so often.

Retire when born.

Live it up for free.

#47 Lolo on 09.12.22 at 5:15 pm

There will always be bad employers and bad employees. Of course nobody thinks that label ever applies to them. There are also clueless bosses. Dilbert resonated for a reason.

#48 Wrk.dover on 09.12.22 at 5:16 pm

#101 Dr V on 09.12.22 at 12:56 pm
I think one of the best comments ever was from the poster who says their dividend is now larger than their original investment
__________________________________

That was my wife’s EMA. And growing.

NS should have kept the utility and sold the province!

#49 Waystar Royco Shareholder on 09.12.22 at 5:17 pm

https://www.msn.com/en-ca/money/topstories/canadian-household-wealth-falls-by-nearly-dollar1-trillion-as-real-estate-financial-markets-pummelled/ar-AA11Kml2?li=AAggNb9

“According to Stats Canada, the total value of all residential real estate in the country fell by $446.3 Billion in the second quarter of 2022, a marked reversal from the $344 Billion rise recorded in the prior quarter (ie: during Jan/Feb when rates were 0.25% and prices peaked)

There is going to be significant pain for many, many mortgage holders this winter.

If I was a Canadian REALTOR ®️ I’d lay low down in Mexico for until summer

#50 Søren Angst on 09.12.22 at 5:22 pm

Maybe the 1,200% increase in the Bank of Canada rate …
– Garth

Half of f’all is still f’all.

Banks take money on deposit, not %’s.

——————–

Those that acted imprudently will be taken out of the economy, wealth building by high rates and high inflation for at least 10 years.

Do not feel sorry for them one bit.

As for the Go Train whiners *, WFH et. al. commenting here, advertise yourself as a pet and someone might adopt you.

All you have to do is learn to fetch or paw a string. Money no longer a problem. Retirement living.

* If antisocial, recognize this is a disorder. Typically can’t fulfill responsibilities related to family, work or school.

#51 Bytor the Snow Dog on 09.12.22 at 5:27 pm

I go away for a couple of years only to come back and see that this blog is still full of out of touch elitists.

GO PP! His election as PM would be the best thing to happen to Canada in a long time.

#52 WTF on 09.12.22 at 5:37 pm

HR has way to much influence and performance reviews are the tool they love but everyone else loathes. Engagement has plummeted since they were introduced. People know when they are being gamed.

https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/02/19/heres-what-can-happen-when-companies-get-rid-of-performance-reviews/?sh=224b3d8c5451

#53 Quintilian on 09.12.22 at 5:38 pm

#40 IHCTD9 on 09.12.22 at 4:29 pm

…and “sorry about your luck” to Canadians.

At least – to those of us who still need to work for decades to come yet.

Hey IH, sometimes you come off as a grumpy and scowling Retrumplican.
I also have many decades of work and taxes ahead of me, but I don’t cuss because I understand most politicians are self-absorbed evil creeps.
And the best one can hope for is that the group in power is less evil than those who are scheming to get power.

Liberals are evil, I will agree, but where we differ is that you can’t see that Conservative are truly much much more diabolical.

#54 Doug t on 09.12.22 at 5:41 pm

This is fun

https://www.oftwominds.com/blog.html

#55 the Jaguar on 09.12.22 at 5:41 pm

Are ‘slowing labour market’ and ‘lower gear’ code for the R-word (recession)? Uh-oh.

I do think this statement, ‘The pandemic years are coming to a crashing, definitive end.’ is dead on. There is going to be one hell of a retail contraction with ongoing rate hikes following on the heels of borrowers stretching to jump on the house porn merry-go-round. It won’t just be foreclosures, it will be ‘closures’ all around, especially since Covid gave a master class for the ‘pajamas crowd’ on how to order in everything from Amazon, Skip the Dishes, or Wallmart.

It starts with goods and services, but then it’s kind of a ‘trickle up’ effect. Every company is going to have to work smarter and leaner, and given the reliance on the real estate cartel for GDP growth…..well…as Garth often says: This won’t end well.

#56 jess on 09.12.22 at 5:43 pm

we’ve lost 114,000 jobs
construction and education
============

Trump thought his 89 million Twitter followers would follow him to his truth social ~ 3.9 million. Deranged outrage not working? Steaks, his university, water, an airline, casinos, the USFL, a mortgage company, vodka … how not to win in business?

============
Jan. 6 panel investigators traveled to Copenhagen to view Stone footage?
Stone has denied anything to do with the attack on the Capitol. He refused to give testimony and evidence to the House committee, citing his right against self incrimination. He has sued members of the panel and AT&T to try to block a subpoena for his telephone records.

#57 Mike in Cowtown on 09.12.22 at 5:45 pm

As Scott Galloway said Friday night on Bill Maher’s show, “Quietly quitting will lead to loudly unemployed”.

#58 Government Shill on 09.12.22 at 5:56 pm

I see your point that nobody had the right to a lifetime pension in the first comment, but that’s what I came here to talk about so I’ll do it anyway.

I am aware that what I do is high in demand. However, as a civil servant (yep, name not just for funzies), I look at these +10% – sometimes +30% – ramp ups in private sector pay for what I do and it makes me pause. Then I look to the things that my employer does for me. DB pension. Good health benefits. Good leave benefits. Darn hard to get rid of me. The list goes on.

If an employer is shocked to find that their employees are willing to jump ship, maybe they should look at how easy it is for them to do so, as well as how easily they will let their employees go when the times aren’t as great.

…all this being said, I just see the Cons just took a big step or two to the right, might be in a good position to crush it next round, and have a big bullzeye on reducing government bloat (DRAP 2.0?) What was that you said some blogs ago about the benefits of cashing out a pension to make a legacy? I might need to quickly move to the private sector. :)

#59 @J on 09.12.22 at 6:01 pm

This is one (small) piece of the puzzle:

New data shows a record number of Canadians aged 55-64 are reporting retirement in the last year:

https://www.cbc.ca/news/business/canada-jobs-retirement-economy-1.6580000

I do fret for Canada’s future though… Countries that innovate the most will have a population that benefits the most. That requires a strong work ethic. Sadly, I do not see Canada climbing up the ladder but rather falling behind other nations on this metric.

#60 Love_The_Cottage on 09.12.22 at 6:03 pm

#33 IHCTD9 on 09.12.22 at 4:08 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.
_________
B.S. There should be a 30 day suspension for such B.S.

“Canada’s economy has largely recovered from the COVID-19 crisis. Domestic demand is picking up following the easing of containment measures. Exports are expected to strengthen, demand for commodities buoying trade amid shocks to world growth. Limited trade ties to economies hard-hit by the war in Ukraine, and income from high resources prices, shield Canada from larger economic impacts. Real GDP is projected to grow by 3.8% in 2022 and 2.6% in 2023. Unemployment will remain low as output rises slightly above potential. Global supply tensions will keep price growth high this year, compounding underlying inflationary pressures.

https://www.oecd.org/economy/canada-economic-snapshot/

#61 JSS on 09.12.22 at 6:13 pm

I also agree that the time to change jobs was about 3-6 months ago.

I wouldn’t be surprised if all these Corporations have confidential lists of non-performing employees who they will get rid of, as soon as a slowdown occurs. Imagine finding a job in an economic downturn…maybe 12-18 months away?

I’ve seen this scenario at least three times now, where the employees have the upper hand, and then 1-1.5 years later…bam…massive job losses. Lots of people looking for work, and competition against educated immigrants who will work twice as hard for less salary.

Oh…and if you’re educated, past 40, and out of work…you’re toast

#62 yvr_lurker on 09.12.22 at 6:20 pm

Similar to the corporate mentality of squeezing out profits from as many sources as possible (hiking prices, keeping wages flat, cutting costs), many employees are also sharing that mindset of optimizing their positions. For those who have upgrade skills that are in demand, why not try to seek a better position with another firm? In tight markets this is often not possible, but if you have kept your skills at a high level there is no need to feel loyal and stay at your old position if you are being paid not a competitive wage.

#63 Wrk.dover on 09.12.22 at 6:22 pm

The world could hypothetically carry on with half of the oil supply, but potassium?

NTR way down today, because the specuvestors think Ukraine in peace will flood the market with potassium priced to buy a new blue tarp for every bomb shelled roof! (Rather than pricing it to replace roofs with roofs)

I kind of think Ukraine and Saskatchewan will be driving the price up, not down.

Eight billion customers eat food.

#64 Søren Angst on 09.12.22 at 6:22 pm

Off Topic

A couple of hours ago Azerbaijani Armed Forces started striking Armenian border positions.

“An attack on Armenia under the #CSTO agreement means an attack on all the countries that are members of the organization (Belarus, Russia, Kazakhstan, Kyrgyzstan and Tajikistan).”

Also:

“Reports of air raid sirens over Russian base in Gyumri.”

——————–

Russia may well now be fighting a war on a 2nd front.

https://twitter.com/nexta_tv/status/1569447506651611139

Assess efficacy by yourselves.

#65 Faron on 09.12.22 at 6:24 pm

Increasing immigration solves inflation, work ethic, demographics, and a saggy economy in one fell swoop. Also makes Canada more interesting. Can only go so far on bannock and hockey.

#66 IHCTD9 on 09.12.22 at 6:28 pm

#53 Quintilian on 09.12.22 at 5:38 pm
#40 IHCTD9 on 09.12.22 at 4:29 pm

…and “sorry about your luck” to Canadians.

At least – to those of us who still need to work for decades to come yet.

Hey IH, sometimes you come off as a grumpy and scowling Retrumplican.
I also have many decades of work and taxes ahead of me, but I don’t cuss because I understand most politicians are self-absorbed evil creeps.
And the best one can hope for is that the group in power is less evil than those who are scheming to get power.

Liberals are evil, I will agree, but where we differ is that you can’t see that Conservative are truly much much more diabolical.
———

I got nothing against the Libs, I voted for Chrétien. I do got problems with Trudeau. Evil? Nah. Stupid? Big time. Trudeau is the second most responsible for the 100% increase in home prices since 2015, and number one for doubling the debt. His fiscal policies fuelled the housing bubble instead of taming it. His Covid spending spiralled into lala land in mere months.

Maybe I’m asking too much, but I’d rather not witness the destruction of the country which handed me the prosperity I currently enjoy. I got kids. Post-Trudeau Canada is a skeleton of what it used to be. Hopefully your parents are rich, or at least own an sfd to pass along. Forget about getting anywhere without a lot of help.

#67 Flop… on 09.12.22 at 6:37 pm

So I saw a realtor advertisement today.

The fella’s name was William Nip.

This is what ran through my deranged head.

If he has a slip on the ice, does that still count as a Nip Slip…

M48BC

#68 IHCTD9 on 09.12.22 at 6:38 pm

#60 Love_The_Cottage on 09.12.22 at 6:03 pm
#33 IHCTD9 on 09.12.22 at 4:08 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.
_________

B.S. There should be a 30 day suspension for such B.S.

———

https://betterdwelling.com/young-canadians-wont-have-the-same-opportunity-as-past-generations-oecd-forecast/

Your suspension starts effective immediately.

#69 Yorkville Renter on 09.12.22 at 6:38 pm

lots of lovers moaning that their extra effort goes unrewarded…

maybe you just SUCK at what you do, or you’re a terrible human.
either way the problem is YOU.

I think I hear the wahhh-mbulance crying.

If you do great work, get a new job

#70 crossbordershopper on 09.12.22 at 6:40 pm

the world has changed, no one wants to get married, have kids and advance in their job. if they get a house for free from there parents great, but they have no intention to work for it. Why would they. I was ahead of the curve, work as little as possible, and in the end, you get effectively the same as everyone who as worked. little difference. young people are not that stupid. if it comes easy take it otherwise, its all good.

#71 Yorkville Renter on 09.12.22 at 6:40 pm

lots of lovers moaning

should be losers moaning… ah, spell check… or Freudian.

either way, the problem is YOU.

#72 THE DANDADA on 09.12.22 at 6:46 pm

“The pandemic years are coming to a crashing, definitive end.”

NO IT’s NOT!

I remember a conflict between 2 co-workers last month…..
But Jim the company says thats what you have to do.
Jim replies “I don’t have to do anything!”

Jim changed jobs. He now gets to WFH and makes 30% more doing so. He’s more productive because he is happier and his “new-age” employer wants to know if Jim knows anyone else like him they can hire.

Guess who raised their hand?

#73 the Jaguar on 09.12.22 at 6:54 pm

Also, @ Pansy and Gunnar, in Ontario………….
Please ensure both of those beautiful dogs have sunscreen on if they are going to lay about the beach digging human traps….

#74 KNOW IT ALL on 09.12.22 at 6:57 pm

Garth

Sooner or later your going to have to accept the fact that technology is changing the world at a very fast rate.

That includes the way we work and make a living. If we can be more efficient working from home then why not?

Less overhead for a company, less conflicts for the Manager’s to worry about, less travel (good for the environment), etc., etc., etc., etc.

So many positives your overlooking.

Amazon says they have no plans to force WFH participants back to work. In fact they encourage it and are hiring specifically with those intentions.

Time to get over it and move on.

#75 yvr_lurker on 09.12.22 at 7:04 pm

#66
Maybe I’m asking too much, but I’d rather not witness the destruction of the country which handed me the prosperity I currently enjoy. I got kids. Post-Trudeau Canada is a skeleton of what it used to be. Hopefully your parents are rich, or at least own an sfd to pass along. Forget about getting anywhere without a lot of help.
——————–

For those who have inherited or will inherit a house from their parents in one of our major cities, they have it made and are well above the curve. They can choose to be teachers or whatever job that they enjoy, and don’t have to worry too much about the salary. Way ahead of those who start with zilch (no family plan) but are employed in higher salary fields (but taxed at ever increasing marginalized rates if 54% likely growing to near 60% in the near future). The latter group has years of work to try to catch up, if at all possible. It never used to be this extreme.

#76 Unpinned on 09.12.22 at 7:06 pm

Shiny newly elected leader of our Conservative Party Pierre Pollievre was shown on CTV after winning and celebrating holding his tiny little baby boy “Cruz”. Come on Garth, we all love babies!

#77 IHCTD9 on 09.12.22 at 7:07 pm

#59 @J on 09.12.22 at 6:01 pm
This is one (small) piece of the puzzle:

New data shows a record number of Canadians aged 55-64 are reporting retirement in the last year:
———-

I believe it. Several 60’ish guys I know hung up the gloves in 2021. Sky high house prices while Covid policies took all the fun out of working. Primo time to cash out of Southern Ontario and move to the East Coast if there ever was one.

#78 Tom on 09.12.22 at 7:12 pm

“Seems few are motivated to slave for a corporation”

Huh?! People should be slaving??? YIKES!!!

#79 Blue Jays on 09.12.22 at 7:14 pm

It’s not only housing. What is the use working hard when rents are high and there is way more money to be made on Instagram, TikTok and OnlyFans?

#80 Nonplused on 09.12.22 at 7:14 pm

#45 ogdoad on 09.12.22 at 5:01 pm

“Maybe we need to steer our society away from the need for teslas and other needless consumer goods and more to engaging humans towards their strengths, community and life long learning.”

I’d rather have a Tesla.

#81 Søren Angst on 09.12.22 at 7:18 pm

StatCan Canada wealth stats that came out today 2nd Qtr 2022 depressing.

This Tweet summed up key points pretty well:

https://twitter.com/CamCassidy/status/1569324072609234944

StatCan trying to be upbeat but it was Mission Impossible.

https://www150.statcan.gc.ca/n1/daily-quotidien/220912/dq220912a-eng.htm?HPA=1

Kudos to StatCan being positive yet telling it like it is.

Come on Canada, you can do better than this. Pity Threadbare Italia but not you Canada. Not you.

It will get better. Can do Cdn Spirit.

#82 Inflation on 09.12.22 at 7:19 pm

Garth you have the best blog in Canada but you are wrong here, with the average detached house in the GTA around 1.8 million most young people envision they will never be able to buy so either they have to job hop to get ever increasing pay raises to eventually afford a house, or they resign themselves to never owning a house and job hop to where the job is less stressful or more fun, the days of staying at a boring job for 30 years because it pays the mortgage are long gone.

Or they can buy a starter home and move up over time. Like all the generations that came before. Oh wait. Special. – Garth

#83 TurnerNation on 09.12.22 at 7:20 pm

My balanced portfolio protects you; your balanced portfolio protects me.

#84 Doug t on 09.12.22 at 7:21 pm

It doesnt help when a country has zero leadership – people in this country are just mirroring our stunned leaders

#85 Mattl on 09.12.22 at 7:22 pm

Don’t understand you aversion to retire early, if independence has been achieved. Why would you not respect someone that want to say travel 6 months per, or take on a passion project over someone working a cubicle till they are 67?

I respect that you want to work….I want to travel with my family, fish all over the world, work on an old truck, farm an acreage. You don’t respect that?

I can’t understand people that don’t have passions outside of work, there is so much to experience outside of an office tower in the 416.

#86 Popeye the sailor man on 09.12.22 at 7:34 pm

I always thought it would be fun to wear Mistletoe on your back belt loop as you walk through the office the day you quit.

#87 Mattl on 09.12.22 at 7:38 pm

Will add that I haven’t lost an employee the past 18 months to job jumping, and am having no problem finding talent. But we offer a very competitive comp package including WFH and treat our staff with respect. The labour market has changed, roll with punches and adjust. Lots or insane talent out there, easy to poo poo the next generation but we are finding massive talent. If an employer can’t attract or retain talent they are asleep at the wheel.

#88 1255 on 09.12.22 at 7:43 pm

DELETED

#89 Randy on 09.12.22 at 8:14 pm

Just let Businesses print Money out of thin air backed by nothing the way the government does…Problem solved.

#90 Paul on 09.12.22 at 8:23 pm

#12 XEQT and chill on 09.12.22 at 3:11 pm
No article about PP, Garth? I was hoping to hear your take on that and what it means for our political landscape.
————————————————————————————————
Oh, it’s coming Garth needs to regain his composure it may may take a day or two stay tuned. No words!

#91 Not a Doc on 09.12.22 at 8:24 pm

“We will observe a globally synchronized housing market downturn in 2023 and 2024,” said Hideaki Hirata of Hosei University, a former Bank of Japan economist…

Ahh yes, the japanification of the western economies is upon us. 100 year mortgages, debased currencies, 3 generations per household. The WFH is actually becoming more of the [email protected] – taking care of aging parent at home – which is why we are not only seeing 50+ workers quitting their jobs but also younger adults who have to take care of their sick single parents that are growing in numbers due to very poor lifestyle/health choices. Anyone else working in healthcare can confirm this?

#92 Damifino on 09.12.22 at 8:32 pm

DELETED

#93 fishman on 09.12.22 at 8:36 pm

Just two years ago Azerbaijan sent a bunch of old Azimovs into Armenia. That lit up & identified their air defence systems. The Azerbaijanis knocked Armenia’s air defences out with their Turkish Bayraktar drones equipped with Canadian Fire & Control Systems) & Isreal’s Kamikazes. In the beginning they drone attacked heavy gun emplacements & tanks . Then the turkey shoot till the Armenian soldiers ran away. It looks like Nato has given the Ukes the combinations for control of the air. A Russian soldier is now like the Armenian, its run or die. Nato is saying the’ve run out of ammo etc. In fact their shitting a brick because they know the Ukes can now drive the Russians into the Black Sea & back to Moscow for that matter. Turkey is piling on (they only got a million or so Armenians the first go around) with Azerbaijan.
Dugan is the rainmaker. If he survives this round of KGB executions then his views prevail & its Russia on total war footing.

#94 Yukon Elvis on 09.12.22 at 8:46 pm

The Kyiv Independent

General Staff: Russia stops sending new units to Ukraine.
Ukraine’s General Staff of the Armed Forces said on Sept. 12. that Russia’s military command has suspended sending new units to Ukraine, and that a large number of volunteers are also refusing to fight in Russia’s army.

The Kyiv Independent
Marchenko also said Russian forces have been instructed to hold discussions with Ukrainian forces in southern Ukraine.
………..

https://english.nv.ua/nation/some-russian-units-near-kherson-trying-to-surrender-in-ukraine-war-50269440.html

Some Russian units in Kherson Oblast are attempting to negotiate a surrender to Ukrainian troops, the Ukrainian military’s Operational Command South spokesperson Nataliya Humeniuk told Ukrainian broadcaster Channel 24 on Sept. 12.

Read also: Russia transfers 1,300 Kadyrov’s troops to Kherson Oblast
“(They) are attempting to negotiate conditions of laying down arms, under the norms of international humanitarian law,” said Humeniuk.
Read also: Ukraine’s daring counteroffensive, war reparations, and negotiations – an interview with Mykhailo Podolyak
According to her, the commanders of these Russian units are looking to find ways to abandon their positions by any means available. This could include attempting to retreat to Russian back lines, or laying down their weapons.
Slava Ukraini !

#95 Ponzius Pilatus on 09.12.22 at 8:47 pm

Once the Queen is laid to rest.
RIP.
Can we start bashing PP?

#96 crowdedelevatorfartz on 09.12.22 at 9:00 pm

@#95 Ponzie Problems
“Can we start bashing PP?’

++++

You want to start bashing yourself?

#97 twisted_sisters on 09.12.22 at 9:01 pm

Canadian debt to income ratio and Govt debt to GDP?

https://www.visualcapitalist.com/wp-content/uploads/2020/12/debt-to-gdp-rise-around-the-world-1.png

VisualCapitalist

#98 Phylis on 09.12.22 at 9:07 pm

#78 Tom on 09.12.22 at 7:12 pm
“Seems few are motivated to slave for a corporation”

Huh?! People should be slaving??? YIKES!!!
Xxxxxxxxx
Well, you could think of it as a voluntary prison, if that helps.

#99 Ponzius Pilatus on 09.12.22 at 9:22 pm

For those who wish Putin’s head on a “spike”, think about who will be the successor to reign over the largest country (almost twice the size of Canada, which is second).
Russians have no experience with democracy.
Most likely they’ll end up with a military junta, followed by another dictator.

#100 Grand Guru on 09.12.22 at 9:28 pm

Garth,

You still seem a bit upset and bitter after that new recruit jumped ship within a few days. Let it go and move on. Embrace non-attachment and personal evolution in a neo-existential zen Buddhist kind of way.

Hey, we got an excellent replacement. And she’s headed up the ladder. – Garth

#101 A01 on 09.12.22 at 9:29 pm

Hence the drive for financial independence (which I respect) and to retire early (no respect).

Garth agree on this, the thing you miss is most of the FIRE crowd never really retire, they just pursue projects/work that is important to them, hardly a bad thing in my books. Don’t worry it’s a fringe minority, must people lack the discipline to retire early.

#102 Ponzius Pilatus on 09.12.22 at 9:30 pm

76 Unpinned on 09.12.22 at 7:06 pm
Shiny newly elected leader of our Conservative Party Pierre Pollievre was shown on CTV after winning and celebrating holding his tiny little baby boy “Cruz”. Come on Garth, we all love babies!
——————-
Haha,
He’s getting ready to kiss the babies.
Old fashioned campaign style.
All style, no substance.

#103 Love_The_Cottage on 09.12.22 at 10:04 pm

#68 IHCTD9 on 09.12.22 at 6:38 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.

_________
Not a University student I see. Providing proof that the OECD said anything along these lines would require a reference from the OECD not someone claiming that’s what they said. That’s a zero on your paper. I did a search and can’t find it. If you can find it then I’ll gladly admit I’m wrong.

Don’t believe everything you see on the internet – Abraham Lincoln.

#104 Shawn on 09.12.22 at 10:11 pm

Why work when people tell you can make money day trading ForEx? Or did they mean THEY could make money selling you a ForEx course.

ForeEx trading is of course a pure zero-sum game (negative after trading costs).

Equity investing adn B&D portfolio investing are positive sum games because money flows from customers of businesses to debt and equity investors / owners. If you don’t understand that then go immediately to learn it.

#105 crowdedelevatorfartz on 09.12.22 at 10:12 pm

@#99 Ponzies Putsch
“Most likely they’ll end up with a military junta, followed by another dictator.”

+++
Gee I don’t know.
Does Alexi Navalny ring a bell?

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiNntPV15D6AhXLGDQIHYhICDgQFnoECBkQAQ&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FAlexei_Navalny&usg=AOvVaw05kB39mKUi75do_WH7jIf7

Navalny.
Beaten at political rallies….. kept coming back.
Jailed by Putin’s lickspittles.
Survived.
Poisoned by Putins assassins.
Survived.
And then HE WENT BACK TO RUSSIA TO FACE PUTIN.
Jailed again.
If he survives.
I can’t think of ANY politician ANYWHERE in the past 100 years that has earned a chance to drag Russia kicking and screaming into a democracy.

Your pro Putin cynicism is nauseating.

#106 SI2K on 09.12.22 at 10:27 pm

The precarious workforce has been developing since at least the tenure of Reagan. What’s new is that employers found out it works both ways.

#107 Doing my Part on 09.12.22 at 10:42 pm

“all style, no substance” as a bash against PP.
Think about that for a second, sounds like someone else we know, perhaps the definition of it.

#108 Doing my Part on 09.12.22 at 10:46 pm

I know the ponzi guy is a socialist internet troll trying to trigger people, but it is just nauseating reading his posts day after day.
Please come up with some new material.

#109 IHCTD9 on 09.12.22 at 10:55 pm

#103 Love_The_Cottage on 09.12.22 at 10:04 pm
#68 IHCTD9 on 09.12.22 at 6:38 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.

_________
Not a University student I see. Providing proof that the OECD said anything along these lines would require a reference from the OECD not someone claiming that’s what they said. That’s a zero on your paper. I did a search and can’t find it. If you can find it then I’ll gladly admit I’m wrong.

Don’t believe everything you see on the internet – Abraham Lincoln

————-

https://www.oecd.org/economy/growth/scenarios-for-the-world-economy-to-2060.htm

Your suspension has been increased to 60 days.

#110 Ponzius Pilatus on 09.12.22 at 11:17 pm

#104 Shawn on 09.12.22 at 10:11 pm
Why work when people tell you can make money day trading ForEx? Or did they mean THEY could make money selling you a ForEx course.

ForeEx trading is of course a pure zero-sum game (negative after trading costs).
———- ——-
Not sure what you’re talking about.
From my experience, FX arbitrage is a very lucrative business if done wholesale and by professionals.
Vancity acquired Citizens Trust mostly on the strength of Citizens Trust’s FX division.
Citizens Trust became Citizens Bank, the first virtual Bank in Canada.
When Citizens Bank went belly up, VanCity sold the virtual and retail banking business for peanuts, but kept the FX department.
Smart move.

#111 Midnight’s on 09.12.22 at 11:25 pm

DELETED

#112 Eks on 09.13.22 at 12:45 am

Total baloney, dude. Wages are certainly not keeping pace with cost of living; hence, job vacancies. You have it a$$-backwards as usual.

#113 PeterfromCalgary on 09.13.22 at 12:55 am

Through most of history humans did not have ‘jobs’ they hunted the gathered. We have not evolved to spend 8 hours behind a desk or in a factory. Why that is a noble way to make a living it is not what evolution makes us best at. It is an abnormal way of living that we have adapted to at great psychological cost.

We evolved to hunt and gather and once we have enough to survive the day we stop. Only recently did we even have the ability to store food for more than a few days when we discovered how to dry and salt meat a few thousand years ago.

Retirement is not the end of work it is just the end of working for people who have too much economic power over you.

#114 crowdedelevatorfartz on 09.13.22 at 1:24 am

Once again
Ponzie avoids…….reality

:)

Even with allllll his stolen billions.
Pariah Putin issssssss toast.
tick tock tick tock.

#115 Bileth on 09.13.22 at 1:52 am

If job hopping provides my family a better quality of life, I would have no hesitations.

#116 DON on 09.13.22 at 2:06 am

#107 Doing my Part on 09.12.22 at 10:42 pm
“all style, no substance” as a bash against PP.
Think about that for a second, sounds like someone else we know, perhaps the definition of it.

*******
Are you blogging from Kenney’s war room…doing your part?

Anyone carrying either JT or PP on their shoulders need to give their collective heads a good long shaking.

#117 Linda on 09.13.22 at 4:30 am

#42 ‘Perry’ – actually, statistics don’t support the smaller working age theory right now. In 1964 Canada’s population was less than 20 million; in 2022 our population is over 38 million. Millennials have now overtaken Baby Boomers in numbers; 10 million Mills vs some 9 million Boomers. I’d argue there isn’t a shortage of working age people despite lower birth rates. People willing to work may be a different story.

#118 under the radar on 09.13.22 at 5:34 am

– Retirement
I just turned 60 and have not fully stopped law but I am coasting along at the speed I set. I have many interests and currently have the health and means to pursue them. Once I hit certain milestones I vowed that I would not try for more. I am happy to leave the risks and rewards of empire building to others.

#119 the Jaguar on 09.13.22 at 6:16 am

Honeymoon Snippets from the NP :

“The phenomenon even hit home for some members of the Conservative caucus who say they were pressured by their own adult children to support Poilievre for leader. It’s left-wing fatigue.” He dominated in every region in the country, winning 330 ridings out of 338 ridings. (Catherine Levesque)

“A whole lot of Canadians, and not just Conservatives, have grown exceedingly irritated, beyond mere annoyance, at the perpetual, smug self-righteousness and cloying preachiness of the ultra-woke “we always know best” Liberal leadership. Poilievre is serious. He does not want vainglorious socks. And thank the cosmos he will not tell the country just how deplorable and awful its history has been. He is not a “populist” in the derogatory sense, but a populist in the sense that he has at least a clue of what ordinary people think, feel and live.” ( Rex Murphy)

Rex hits a home run with his column. Be sure to also check out page A4 to glimpse the highly photogenic couple ( Pierre and Anaida)with their son Cruz. Then contrast that photo with the one on page A5 of Trudeau at the podium with Freeland scowling in the background with her ever present dark sunglasses.

Hope springs eternal.

#120 Prince Polo on 09.13.22 at 6:50 am

#85 Shawn on 09.12.22 at 9:31 am
Don’t ask the competitor

#77 Prince Polo on 09.12.22 at 7:02 am
Thanks Soren!

#56 Shawn on 09.11.22 at 9:14 pm
Don’t ask the McDonald’s franchise owner what he thinks of Wendy’s and expect an unbiased answer.

#2 Prince Polo on 09.11.22 at 2:00 pm Asks Garth:

What are your thoughts on Covered Call ETFs?

What if the McDonald’s owner is giving away dietary positioning for free? Is it still a bad idea to ask about nutritional advice?

*********************************
Never ask one business owner if his competitor has a good product. They are rarely receptive to such a question.

And Garth has generally been hostile to any approach but his own.

Hostile is a nasty word. My mission is to keep people from doing dumb things with their money. That is more akin to charity than hostility. – Garth

Since we were on the topic of receiving income & with the previous blog’s ending of “Just be careful what you trade away for a few per cent”, I figured my initial question was a juicy softball hanging in mid-air, ready to be smash’d to smithereens! Oh well – maybe next time.

#121 Wrk.dover on 09.13.22 at 7:08 am

What’s next? Pee Pee going to name a daughter after Marjory Taylor Green?

#122 maxx on 09.13.22 at 7:57 am

The stupid and lazy don´t realize that YOLO leads to SALT in retirement: Suffering A Long Time.

Lack of money at retirement grinds people down faster than almost anything, with endless compromise that downgrades quality of life and often boosts ill health. Most of us have seen it.

Stuck at home dreaming about what could have been?

No. Thank. You.

#123 Dharma Bum on 09.13.22 at 8:12 am

The pandemic is over.

I thought so.

But the MSM is hyping the brand spanking new vaccine.

They say it’s new and improved and specifically targets the “latest variant”.

No mention (conveniently) that vax number 4 was completely useless.

Should I line up now for version number 5?

Or, just wait for version number 6, which I am sure is just around the corner.

I hear it’s gonna be the best yet!

Just like i-Phones. Got the best one.

A new one just came out? And it’s even BETTER?

Where do I line up????

#124 crowdedelevatorfartz on 09.13.22 at 8:29 am

Uh oh.
The Russian bear stubbed its toe in Ukraine.
Now a pesky wasp on its rump has decided to sting.

https://www.reuters.com/world/armenian-russian-defence-ministers-discuss-nagorno-karabakh-after-flare-up-2022-09-13/

As China patiently watches and waits……..

#125 crowdedelevatorfartz on 09.13.22 at 8:38 am

@#119 the jaguar
“Then contrast that photo with the one on page A5 of Trudeau at the podium with Freeland scowling in the background with her ever present dark sunglasses.”

+++
When was the last time Trudeau posed with his wife?
She has been notably absent from a lot of photo ops.
Trouble in Wokedom?

Speaking of a PM never willing to miss an opportunity to pose for the cameras.
Has he announced if he will attend the Queens funeral?
Or does that not sit well with the Separatist voters in Quebec?
Will Freeland be there with her sunglasses on? Polishing off her bid to be a UN bureaucrat….

#126 Love_The_Cottage on 09.13.22 at 8:48 am

#109 IHCTD9 on 09.12.22 at 10:55 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.
————-
https://www.oecd.org/economy/growth/scenarios-for-the-world-economy-to-2060.htm
———–
Slower growth for all OECD countries are projected from 2030 based on a variety of factors including aging population. Absolutely no word indicating the Federal Government in Canada is the cause. So B.S. unless you can reference a page. You’re 0/2 on your links.

#127 Tony on 09.13.22 at 9:10 am

Re: #4 bguy1 on 09.12.22 at 2:51 pm

Seniors in America have gotten a lot poorer the last 13 years due to zero interest rate policies. Europeans have done even worse in the age brackets 65+ due to negative interest rates.

#128 Tony on 09.13.22 at 9:11 am

Unless Canada enters a depression there’s going to be huge upward pressure on the minimum wage.

#129 crowdedelevatorfartz on 09.13.22 at 9:28 am

@#112 Eck
“Wages are certainly not keeping pace with cost of living; hence, job vacancies.”
+++
Apparently the concept of wages chasing inflation uppa uppa uppa…. is beyond your comprehension.
Crush inflation with rate hikes.
Wages will revert back to “livable”.
Or we pay the surly bag boy brat $30/hour to crush the eggs under the canned beans?

#130 IHCTD9 on 09.13.22 at 9:49 am

#126 Love_The_Cottage on 09.13.22 at 8:48 am
#109 IHCTD9 on 09.12.22 at 10:55 pm
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.
————-
https://www.oecd.org/economy/growth/scenarios-for-the-world-economy-to-2060.htm
———–

Slower growth for all OECD countries are projected from 2030 based on a variety of factors including aging population. Absolutely no word indicating the Federal Government in Canada is the cause. So B.S. unless you can reference a page. You’re 0/2 on your links.
_______

Unwilling to sort OECD data on the OECD website via a simple interface?

Other publications publishing the same data I linked to that you’re afraid to look at:

https://www.theglobeandmail.com/business/commentary/article-why-canadas-economic-growth-is-expected-to-be-dead-last-among-advanced/

https://bcbc.com/insights-and-opinions/oecd-predicts-canada-will-be-the-worst-performing-advanced-economy-over-the-next-decade-and-the-three-decades-after-that

Now either all these news outlets are wrong, but you are correct – or it’s the other way around…

Suspension increased to 90 days.

#131 Quintilian on 09.13.22 at 9:52 am

#129 crowdedelevatorfartz on 09.13.22 at 9:28 am
“Or we pay the surly bag boy brat $30/hour to crush the eggs under the canned beans?”

Crazy talk.

Cause and effect confused.

Inflation forces higher wage demand, not the other way around, but if you want to talk about unreasonable wage hikes, look to the executors in the traded public companies, they make 300 + more times than most of their workers.

And don’t give me that “you have to pay for talent” nonsense.

#132 Faron on 09.13.22 at 10:08 am

#98 Faron on 09.12.22 at 12:03 pm

And another full pct on the indexes. A $40k+ mistake selling at a pretty clear local low out of emotion (that arose from being leveraged into the market).

Today VIX and SPX correlation is positive. OpEx is this week, SPX and NDQ are overbought and right at the 20 day. Much safer time to sell.

And CPI comes in hot. -2.5%. on SPX

#133 Summertime on 09.13.22 at 10:14 am

Ryan Lewenza here said that peak inflation was reached.

Apparently that is not the case:

https://ca.finance.yahoo.com/news/stock-market-news-live-updates-september-13-2022-090235060.html


The Bureau of Labor Statistics released the Consumer Price Index (CPI) for August early Tuesday, which showed prices rose 8.3% over the prior year and 0.1% over the prior month. Economists had expected an 8.1% increase in inflation over last year and a decline of 0.1% over the prior month.

CPI in August is actually increasing, not decreasing, and why would it decrease with still strongly negative real interest rates? (reported as minus 6 %, in reality – 15 % for the cost of essentials)

We have seen nothing of inflation yet.

#134 Shawn on 09.13.22 at 10:24 am

Yes FX trading is a zero sum game

#110 Ponzius Pilatus on 09.12.22 at 11:17 pm
#104 Shawn on 09.12.22 at 10:11 pm
Why work when people tell you can make money day trading ForEx? Or did they mean THEY could make money selling you a ForEx course.

ForeEx trading is of course a pure zero-sum game (negative after trading costs).
———- ——-
Not sure what you’re talking about.
From my experience, FX arbitrage is a very lucrative business if done wholesale and by professionals.
Vancity acquired Citizens Trust mostly on the strength of Citizens Trust’s FX division.

********************************
You are talking about an FX arm of a bank that probably makes most of its money on fees from traders and yes hedgers and not from its own proprietary trading.

I simply point out to the home armchair investor that trading is always a zero sum game. And there is no money flowing into FX externally. It is 100% about traders and hedgers making bets with each other. The house ALWAYS wins. And some players win at the expense of other players. Your Citizens Trust example sounds like the house to me.

In contrast long-term prudent equity and B&D investing is mostly about holding positions while money flows in from external customers to the owners of business equity and debt. Corporations earn money from customers and pay dividends to equity investors and interest to bond investors. And they retain some earnings to grow the business leading to capital gains for equity investors over time.

There is also a big trading aspect to the equities and even bond market and THAT aspect is also a zero sum game (negative after costs).

Got it? This is key!

#135 Tero on 09.13.22 at 10:27 am

Why the sudden lack of workers? What happened in the US is what happened here also. People who were in a position to retire did so. The housing frenzy just gave them a pile of cash tax free, and that was it. Done and done.

#136 Shawn on 09.13.22 at 10:30 am

Labour Shortage due to retirements?

Age begats retirement

But even more so: Pensions begat retirement.

RRSPs begat retirement

Society is now to some degree funding and subsidizing retirements that are apparently not so good for the economy. And possibly not the best for the mental health of many people. Whoops.

Harper was absolutely right to start raising the age for the Old Age Pension. Trudeau bowed to popular opinion and canceled that.

#137 Shawn on 09.13.22 at 10:32 am

Inflation “missed expectations”?

Stupid inflation failed to match analyst estimates.

#138 Ponzius Pilatus on 09.13.22 at 11:00 am

Somebody mentioned the other day that the malls are full and people are still spending like crazy.
That’s been my experience, too.
I’m getting more convinced that a recession is coming.
Not making any predictions when and how long, but we have to stop spending like drunken naval workers, and start to get our debt under control.
The roaring 20s are coming to an end.
Let’s just hope that the hangover is not as bad as it was 100 years ago.

#139 millmech on 09.13.22 at 11:03 am

#61 JSS
Our newest electrician is 67 years old, hiring a a 71 year old machinist on Friday.
We want to hire older people with lots of experience, knowledge and they have the work ethic that seems lacking in todays workforce.

#140 Shawn on 09.13.22 at 11:05 am

Stats Can reports investments in buildings still rising as of July

Lagging indicator I suppose but still good.

https://www150.statcan.gc.ca/n1/daily-quotidien/220913/dq220913a-eng.htm?CMP=mstatcan

#141 Ponzius Pilatus on 09.13.22 at 11:18 am

#134 Shaw
In the game of life there’s always a loser and a winner.
The saying: The guy who dies with the most toys wins, is just a capitalist slogan to keep you spending on useless stuff.
The Ledger of Life always has to balance.
Thats why we have double entry book keeping.
Invented by an Italiano, btw.
One brownie point for Dolce.

#142 Bill Shart on 09.13.22 at 11:19 am

In a bull market, everyone is a genius. . Those days are over. Time to smell the coffee sheeple!

#143 Bug Eye on 09.13.22 at 11:42 am

#63 Work.

Agreed, I doubt the food issue is over, nor is Russias campaign in Ukraine. I bought NTR at $47, it’s $120 now. Taking “profits and paying taxes” is a rookie mistake imho. When you build a castle you don’t start pulling keystones. I never send a dime in taxes to Trudeau. I like MOO and equipment stocks. Cats new technology is WOW.

#144 crowdedelevatorfartz on 09.13.22 at 12:00 pm

@#131 Quinties Quantfiables
” look to the executors in the traded public companies, they make 300 + more times than most of their workers.

And don’t give me that “you have to pay for talent” nonsense.”

+++
Dont habve to look at public companies when I have examples in the Govt sector.
BC Ferries Prez.
$600k per year with his perks.
Gets wacked.
1.5 year severance.
Typical govt trough snuffler.

https://globalnews.ca/news/9009009/bc-ferries-fires-ceo-mark-collins/

To be replaced by another loyal, butt kissing, trough snuffler.

Or ICBC

https://www.terracestandard.com/news/three-former-icbc-executives-earned-more-than-1-million-in-2017-18/

Or BC Hydro

https://www.timescolonist.com/opinion/editorials/editorial-firing-of-b-c-hydro-ceo-raises-questions-1.21373981

Or Rapid Transit.

https://globalnews.ca/news/1828231/translink-under-fire-for-paying-for-two-ceos/

Or the City of Vancouver

https://www.cbc.ca/news/canada/british-columbia/penny-ballem-severance-city-manager-1.3229596

It aint just the private sector CEO’s gorging on money.
It is very apparent.
The public sector pays very juicy wages and severance

#145 Quintilian on 09.13.22 at 12:07 pm

#139 millmech on 09.13.22 at 11:03 am

“Our newest electrician is 67 years old, hiring a a 71 year old machinist on Friday.”
That is just irresponsible.

If it were for sales, or admin, that would be ok, but you shouldn’t put people that age in a potentially dangerous situation, given their level of alertness and awareness.

Ageism – the only acceptable bigotry young people now embrace. – Garth

#146 Shawn on 09.13.22 at 12:16 pm

Double Entry Accounting and Failure to Understand

#141 Ponzius Pilatus on 09.13.22 at 11:18 am
#134 Shaw
In the game of life there’s always a loser and a winner.
The saying: The guy who dies with the most toys wins, is just a capitalist slogan to keep you spending on useless stuff.
The Ledger of Life always has to balance.
Thats why we have double entry book keeping.
Invented by an Italiano, btw.
One brownie point for Dolce.

***************************************
Indeed Double Entry Accounting was apparently invented in Venice or at least Italy. I have printed and read a translation of the book by Luca Pacioli that originally explained and popularized it. Written in 1494. Also more modern books that explain it. I like history.

But you misunderstand commerce completely.

In a transaction between a customer and a business there is typically no loser. Both gain what they want. That’s why they transacted.

And EVERY investor who bought and held a standard B&D portfolio or say the S&P 500 index over the long term has won. There are no losers.

The human ledger per capita has constantly expanded for the last 500 years or more. With a great help from Double Entry accounting actually.

This is fact. Like Garth I am here to teach. Not all will learn. That’s okay.

#147 Love_The_Cottage on 09.13.22 at 12:45 pm

#130 IHCTD9 on 09.13.22
The OECD says Canada has decades of flat growth ahead in the wake of Covid and Trudeau.
__________
Last one for me as I have a Jays double header to watch today.

I’ll give you the projection to 2060. The question is where do they blame the current federal government?

“in the wake of Covid and Trudeau.”

To blame just Trudeau for this is in your head, not from the OECD. They blame projected worker productivity. Influenced by previous governments, debt levels, provincial governments and most importantly Canadian voters who have prioritized a larger social safety net over corporate profits and 60 hour work weeks. And Trudeau.

And I don’t see anything about COVID hurting worker productivity in 35 years. Also just you projecting.

Go Jays.

#148 Bdwy on 09.13.22 at 1:20 pm

Inflation to be a tenacious opponent
Dont think i buy this dip. Yet.

Inflation buster? 3.99 teen burger. Been enjoying 2 per day since the sale started. Hot. Consistent. Fresh crispy veg generous bacon pickles and cheese.
Most 20$ burgers don’t come close.
Only a few days left!

#149 DON on 09.13.22 at 1:23 pm

#145 Quintilian on 09.13.22 at 12:07 pm
#139 millmech on 09.13.22 at 11:03 am

“Our newest electrician is 67 years old, hiring a a 71 year old machinist on Friday.”
That is just irresponsible.

If it were for sales, or admin, that would be ok, but you shouldn’t put people that age in a potentially dangerous situation, given their level of alertness and awareness.

Ageism – the only acceptable bigotry young people now embrace. – Garth

******
Quint, the older I get the safer I get. Experience looks for preventative maintenance to minimize safety issues.

#150 NJ on 09.13.22 at 1:30 pm

What does employee/employer loyalty get you? The reality is, if your employer decides your services are no longer needed, you are gone in a flash. There has never been loyalty.

Commuting sucks. Why is it seen as a badge of honour?

You’re clearly speaking from the place of someone who is and has been affluent for quite some time.

Furthermore, how can you look down on anyone who is able to retire at a young age? I see that as pretty damn impressive and represents a high level of focus and dedication.

Garth, you seem very bright. Accpet/embrace the new way technology and the world is connected. 35yrs ago we did not have the means to WFH this effectively. We do now.

And all you do is moan. – Garth

#151 baloney Sandwitch on 09.13.22 at 1:31 pm

Nobody ever had the right to a lifetime defined-benefit pension. – Garth

Except Politicians. They come first.

Wrong. Contributions are sizeable and the average MP lasts less than six years. Government employees are much better treated. – Garth

#152 Ponzius Pilatus on 09.13.22 at 1:45 pm

#146 Shawn
But you misunderstand commerce completely.

In a transaction between a customer and a business there is typically no loser. Both gain what they want. That’s why they transacted.

And EVERY investor who bought and held a standard B&D portfolio or say the S&P 500 index over the long term has won. There are no losers.

The human ledger per capita has constantly expanded for the last 500 years or more. With a great help from Double Entry accounting actually.

This is fact. Like Garth I am here to teach. Not all will learn. That’s okay.
———————-
Haha,
Shawn is getting feisty.

You must be a bookkeeper, or some bean counter, who only sees life in material terms.
Anyway, the loser is Mother Nature.
Nature’s bounty is not infinite.
You’re from Alberta.
So you know that Alberta’s wealth was built on oil.
Once that’s gone, what then.?
I suggest you take some courses in Abstract Thinking and Philisophy.

#153 Observer on 09.13.22 at 1:47 pm

Ageism – the only acceptable bigotry young people now embrace. – Garth

^^^^^^^^^^^^
Yup. And talk about shooting yourself in the foot. We all get older.

#154 Faron on 09.13.22 at 1:47 pm

#146 Shawn on 09.13.22 at 12:16 pm

I am here to teach

Teach yourself how to read, perhaps?

#155 Sask to AB on 09.13.22 at 2:07 pm

re #86 Popeye the sailor man on 09.12.22 at 7:34 pm

That was funny! Thanks for sharing.

#156 crowdedelevatorfartz on 09.13.22 at 2:17 pm

Another $4.5 BILLION deeper in debt.

https://www.reuters.com/world/americas/canadas-trudeau-announces-c45-bln-inflation-relief-package-low-earners-2022-09-13/

What the hell.
It’s not like it’s his money.

#157 Faron on 09.13.22 at 2:34 pm

Holy yield curve batman! More than 33bps US 2/10yr. 6 month bond paying 3.8%.

#158 Bdwy on 09.13.22 at 2:44 pm

Race for the exits.

#159 Wrk.dover on 09.13.22 at 2:45 pm

#139 millmech on 09.13.22 at 11:03 am
Our newest electrician is 67 years old, hiring a a 71 year old machinist on Friday.
______________________________

I just turned 69 and alone, stripped and shingled a 8’slope, 35′ long, 14′ up. Took a week of lax hours though.

I had to do the bottom 3′ from a ladder, even though my physio guy said my ladder days were over this spring, after blowing up an Achillies in December.

If you dumb down the hours to every other day, everyone will win. These guys have a lot of standing to do.

#160 WTF on 09.13.22 at 3:05 pm

#145 Quinty “you shouldn’t put people that age in a potentially dangerous situation, given their level of alertness and awareness.”
—————————————————————-
That was cute, misguided and churlish, lemme guess you have never used a tool in your life.

Friend a few yrs ago in the hockey dressing room mentioned he needed some help revamping his stores.
Three of us retirees offered. None of us needed the $ just help a friend, get some exercise and learn new tasks.

Showed up at first job during Covid, He was gobsmaked. All done no fuss in record time. No smartphone breaks, brought our own tools, proper clothing, we showed up on time every day, 1/2 hour lunch and back to work till the job was done,(some were12 hour days). His other employees loved us as we kept the place clean and respectfully worked around them.

Any problems we encountered were overcome quickly, usually without his involvment. He was able to concentrate on his other pressing tasks, Unlike his previous hires.

Were working beside another business one day and the owner asked where he found us.

We get called back every time. twice a year like clockwork. More efficient every time. Two day jobs now done in 1.

Pays for my leisure time rebutting arrogant dicks.