Vainglorious

The shiny new (career politician) Con leader is making a splash. Like the most successful pols he’s learned two things.

First, tell aggrieved people what they wish to hear. Second, divide the universe into Us and Them. This works. It’s the rocket fuel of the rightist movement making strides from Finland to Italy to Mara Lago.

Globally, there’s fertile ground for the message of the ‘have-nots’ vs the ‘have-yachts.’ With inflation raging everywhere, 90 central banks jacking rates, food and energy insecurity, supply chain woes and real estate unattainable for most, there’s a war on the elites. That includes the World Economic Forum, epidemiologists, Bezos, the Bank of Canada, Dr. Fauci, CEOs, King Charles, banks, most Boomers, Poilievre’s ‘gatekeepers’ and, of course, Justin Trudeau.

Yes, the impact of inflation is real. Worse, it’s only started. It’s clear interest rates haven’t crested and Mr. Market told us last week the economic fundamentals now suck. Look at the results of this Leger poll of how Canadians and Americans answered days ago, when asked this question: “As a result of rising inflation over the past few months, have you….”

When a third of people are depleting savings to pay monthly bills or throwing expenses on their credit card – and the economy’s only started to crack (with the best job market in half a century) – you can see what’s coming politically. Remember that Canadians do not vote for leaders. They vote against them. The new guy may have warts. But at least he’s not the old guy. Off with his head.

But wait, where does inflation come from? Is there a scintilla to suggest Justin, Tiff and Chrystia cooked this up?

Current leaders (the elites) argue that crazy, swelling prices and your financial insecurity were imported. Putin and Ukraine did it. The broken supply chain. Corporations hoovering billions in pandemic profits. An unforeseen economic pop after Covid, making it all worse.

Such beliefs justify the T2 government spending even more money, like with the $5 billion in new ‘relief’ cheques announced last week, or the $20 billion in additional payments to indigenous families. They tell us inflation is a regressive tax on the poor, therefore government’s correct role is to mitigate the suffering with more public money.

But wait. Does inflation come from too much money, or excessive demand? After all, the airports are jammed. New car sales are historic. Bidding wars sent house prices to the moon. Borrowing on lines of credit, mortgages and HELOCs is epic. Was this all the fault of CBs lowering rates too far, making the feds blameless?

The debate matters. It may well dictate what kind of dogma rules Canada next.

This weekend a lone, brave economist steeped forward to call out anyone who thinks the current mess was accidental. “This is economic heresy in defiance of the facts,” writes Scotia’s precocious Derek Holt. “It smacks of vainglorious attempts at excusing policymakers for having caused much of this inflation.” For example, says Holt, our current real estate crisis was entirely manufactured.

Econ 101 says that if you light up a torrent of demand then more spending chasing goods and services can light up prices. We see that in record housing activity. Housing has been overwhelmingly driven by domestic buyers responding to too-low-for-too-long interest rates and by heavy fiscal stimulus transfers. It was made unaffordable to lower- and middle-income households by such policies and yet instead of admitting that, governments have opted to point the finger at foreign buyers and tax them.

It’s what a certain pathetic blog has been moaning about for years. The inverse relationship between interest rates and house prices has never failed. When money is too cheap houses become too dear. And it was Canadian buyers who did this, not the Chinese dudes or struggling immigrants we vilified.

So what now?

There’s no election until 2025, thanks to you-know-who. So expect no sea change. But it’s clear interest rates will continue to escalate until cost-of-living increases slow dramatically. Recession odds grow. The record-low jobless rate will rise. In a year nobody will be talking about quiet quitting or WFH resistance. The political future of the governing Libs will grow darker. The biggest impact on residential real estate is yet to come as mortgage pre-approvals end, variable-rate payments are triggered, and prices are forced lower.

In politics a weekend’s a long time. The distance until June of 2025 is an eternity. By then inflation, interest rates and the cost of real estate may all be lower and stable. Covid could be a faded memory. Will we still be angry?

Somebody hopes so.

About the picture: “This is Skutchy on the left and Bertie in the right,” writes Terry. “Two big goldens who love a boat ride around the bay often to dry off after a swim post walk. They also love nothing more than to point their noses over the bow to see what’s ahead. Like the sage advice you give. It helps us all see what’s ahead.”

164 comments ↓

#1 Spock on 09.18.22 at 11:14 am

>>> First, tell aggrieved people what they wish to hear. Second, divide the universe into Us and Them. <<<

Are you sure you are not confusing the last 7 years of Trudeau with Pierre ?

If you are talking about divisiveness then the tropy should go to Trudeau who has done a masterful job of it.

Stop being polarizing. I said clearly these are tactics of all successful politicians. – Garth

#2 Jay (not that one) on 09.18.22 at 11:25 am

Why would there be a debate between too many dollars and too much demand? One causes the other, resulting inevitably in higher prices.

The fact that policymakers are handing out money hand over fist while they are one policy at a time attacking global productivity means that this was all so predictable that I specifically predicted it in March 2020.

Stagflation. Of course it is. Ultimately you can’t eat, drive, or heat your home with money. You need stuff.

#3 crowdedelevatorfartz on 09.18.22 at 11:26 am

A poo flinging monkey could see what was going to happen to the economy with record low interest rates and record high housing prices…..a year ago.

While the politicians flung 10’s of billions of taxpayer $$$$ at the voters and the CB did nothing.

A 64 year old co worker had her catalytic converter stolen a month ago.
Replacement cost ?
$1800
She had to take out a short term , high interest, loan……
Tip of the iceberg.

The looming recession will be ugly for the spendthrifts.
For the savers…..not so much.

Perhaps I can update my 7 year old smartphone at a bankruptcy auction over at “Disgusts” condo.

:)

#4 T-Rev on 09.18.22 at 11:28 am

Sure hope not. Of all the changes wrought by Covid, social media, and light speed technological change, division and anger are the worst. People are so quick to shout down each other, call names, belittle people personally, and to launch into a fury when you disagree with them. It’s not ok, and it limits robust discussion and distracts for the hard work of finding complex solutions to complex problems.

I don’t see it changing though. We’re a sound byte world. And people will believe what they want to be true, whether rooted in facts or not.

#5 Joe Schmoe on 09.18.22 at 11:33 am

I work in an industry that has been posting record profits. Fortunately, that also means record bonuses for my staff.

I have been trying to coach the young’ns to save/invest most of the bonuses…it’s falling on deaf ears.

Grasshopper meet ant.

#6 Big Bucks on 09.18.22 at 11:42 am

A UBI will keep the WFH thing going though and who seriously doesn’t see that coming within 5 years?If PP can sell it that we cut our bureaucracy (by what 70-80%)retain all the necessary staff and implement a floor (not too high though as to discourage working)voters upset with the gov’t workers will jump all over that in a second.The big problem with a UBI is some will still choose to live on it rather than working(doubling tripling up etc) so it has to be designed just as a low base that nobody can really live on that is still able to work.Until we reduce the size of our bureaucracy inflation will get worse,not better.

#7 Wrk.dover on 09.18.22 at 11:44 am

Because we couldn’t jack interest before other nations a decade ago, and have a currency too expensive to export our stuff!

Sure.

Which ended up harming us as a nation the most?

#8 Shawn on 09.18.22 at 11:45 am

The best thing you can possibly read today

With higher interest rates and inflation being today’s topic, it’s a great time to review some thoughts on the subject from Warren Buffett.

Baloney sandwich at 35 brought up a valuation indicator identified by Warren Buffett in 2001.

I have links to that Fortune Magazine article as well as his related 1999 article. I read them at the time of publication. Yesterday, in responding to Baloney, I was skimming over the 2001 article.

It is SO brilliant! If you want to see some history of market over-valuations and if want to understand a bit about interest rates and about three periods when U.S. stock market went sideways for about 20 years, read these articles.

Keep in mind they are old now and Buffett said his indicator has some limitations.

But read these golden words. Read them slowly. Take notes. Then read them again. I think it must be impossible for a fair-minded intelligent person to read this without becoming or staying an admirer of Warren Buffett.

https://archive.fortune.com/magazines/fortune/fortune_archive/1999/11/22/269071/index.htm

https://archive.fortune.com/magazines/fortune/fortune_archive/2001/12/10/314691/index.htm

#9 Alex on 09.18.22 at 11:48 am

Seems many Canadians didn’t take advantage of low rates and lower expenses during the covid lockdowns to build themselves a safety net for when things would return back to normal. Can you blame them when their fearless leader was spending like a drunken sailor? Most including most of the world leaders chose to avoid the old adage to use sunny days to prepare for the rainy ones. I will admit I was duped. I actually believed the CB last year when they said rates wouldn’t be raised until 2023. I also believed the famous quote all the media outlets parroted that 80% of Canadians were a $200 expense away from being insolvent. Guess I should have locked in my mortgage last year. Oh well live and learn. Wish I started reading this blog last year.

#10 Linda on 09.18.22 at 11:48 am

Happy pups:)

I can see why conspiracy theory is a thing. From my cynical viewpoint, the central banks cranking rates to quell inflation appears to be directly linked to ensuring the masses stop lollygagging about & get ‘back to work’. Which is what those in charge want – can’t tax incomes that do not exist, now can they? So yes, I expect a lot of resentment being expressed politically, with the masses voting for those who promise (suckers born every minute) to change things ‘for the better’. Mind you, said promises rarely spell out exactly how this will be achieved & usually once the vote is cast, the words said are conveniently forgotten or outright denied as ever having been said.

#11 Axehead on 09.18.22 at 11:48 am

To everything there is a season, and a time for every purpose under heaven. Even anger, according to King Solomon; who was much wiser than Mr. Trudeau, even Mr. Poilievre.

#12 Flop… on 09.18.22 at 11:54 am

What do I know about Oakville?

Not much, except that it’s a long way from Flopville.

To say things got a little out of hand recently is a mild understatement, let’s have a look at this roller coaster ride.

So it looks like they bought this place in Oakville for 1.56

Then tried to get over 3 million earlier this year.

Bottom fell out of the market and sold a few weeks ago for 1.10

Probably 500k damage after all the extras are accounted for.

Don’t you guys have PTT on both sides of the deal or something?

Maybe if real estate gets back below a certain price in Vancouver they will bring some more taxes in to make up for the loss…

M48BC

https://mobile.twitter.com/Tablesalt13/status/1571265547181985794

#13 Gary Ford on 09.18.22 at 11:55 am

Garth: “But wait. Does inflation come from too much money (printing)…?”

Yes. Yes it does in fact.

https://www.youtube.com/watch?v=GJ4TTNeSUdQ

Learn the difference between theory and fact. – Garth

#14 Linda on 09.18.22 at 11:56 am

#3 ‘crowded’ – problem with being a saver is that firmly slots you into the ‘have’ side of things. Evil, evil you – stomping on the disenfranchised spendthrifts with all that money. Must be targeted, punished for your evil, stripped of all you own because the fact you ‘have’ means you somehow did it at the expense of the ‘have not’. Which as we all know ‘isn’t fair’.

Sounds & is ridiculous, but that is exactly the way those mired in debt of their own choosing will think. Because in no way will they take responsibility for their spending more than they earned. You & your ilk forced, positively forced, them to spend……

#15 Big Bear on 09.18.22 at 12:00 pm

DELETED (Anti-vaccine fruitcake)

#16 ogdoad on 09.18.22 at 12:01 pm

So much for freedom…

Sit back for a few moments, take a couple deep breaths, realize that you’re on a hot rock, hurdling through space at 30kmph…then think about bonobo monkeys and their social hierarchy…

Have a great day before Monday!

Og

#17 TurnerNation on 09.18.22 at 12:03 pm

This is the kind of week advisers and advisors should be ready. Before or because of the Fed on Wed a likely final 5-6% down-day-flush.
“Get me to cash!!”. Tell em fine, here are the GIC Rates, here is your login and password to TD Slaughterhouse online brokerage, have at er.

———–

From last blog this link was posted. Guess where people store their phones, oftentimes in their front or back jeans pocket. Right up against their reproductive organs.
Trust the science!! Killing us softly. Always.

https://www.visualcapitalist.com/radiation-emissions-of-popular-smartphones/

—— So close to normal in the Former First World Countries. Control over travel. For Our Health Comrades.

.Spain extends Covid entry restrictions to mid-November (travelweekly.co.uk)

https://www.bloomberg.com/news/articles/2022-09-17/hong-kong-tightens-provisional-vaccine-pass-rules-for-travelers
H.K. Tightens Provisional Vaccine Pass Rules for Travelers

#18 Quintilian on 09.18.22 at 12:09 pm

“The new guy may have warts. But at least he’s not the old guy. Off with his head.”

Off with his head is right, but it will be Pepe’s head.
If he wants to win the next election, he will have to back peddle toward the centre.

Some of his outrageous bafflegab will eventually be challenged, and as he retreats to safer ground, he will lose the nutbars who will want his head and gravitate toward Maxime Bernier.

65% of Canadian voters are politically immature wimps, 35% are illiterate redneck idiots.

#19 Mean Gene on 09.18.22 at 12:18 pm

If Joe and/or Jane lunch-bucket need extra dough, they can get a part time job.

Dipping into savings or relying on the credit card to get by with the daily expenses sounds unsustainable.

#20 Broader Mind on 09.18.22 at 12:25 pm

More hallucinations. BOC losing money for the first time in history (QE). When the less then wealthy are given money they spend to eat …. till the money reaches the very wealthy where it stays parked. Mexican peso and US dollar both hammering the loonie. That should be great for food cost. BOC must get busy raising rates faster. It seems counterintuitive but after the pain free money created , high rates will make houses affordable , equities trade at reasonable multiples, and bitcoins zero.

#21 Concerned Citizen on 09.18.22 at 12:26 pm

Good on Holt for calling a spade a spade. Sure the Ukrainian War has generated inflationary pressures, but to pretend that too-low-for-too-long interest rates and quantitative easing (i.e. money printing) haven’t played a large role is ridiculous.

The Fed basically doesn’t even have an inflation policy framework right now. It’s basically, “We’ll call it like we see it.”. The ECB just raised rates above 0% for the first time in forever, despite inflation raging at ~8% for many months. It’s a blatant case of, “We’ve tried nothing, and we’re all out of ideas!”.

From where I sit it’s a clear case of regulatory capture/institutional failure. They don’t want to do what it takes – and what they have done in the past – to fight inflation, because then the obscene bubbles their policies have enabled over the last decade plus would come crashing down. So they focus on protecting the wealthy speculators and their personal real estate empires and stock portfolios. As for the average poor or middle class voter, let them eat at food banks and live 20 to a basement. Trudeau has our backs, after all…

#22 Winter on 09.18.22 at 12:41 pm

For decades corporations have rolled over debt and never paid it back. Why?

Because each year interest rates drop, less to be paid on interest, so profits rise. Some borrow more.

But now with inflation on inputs and interest rates rising they are getting hit from all sides.

When a 2% coupon rises to 4% their carrying cost doubles, and you know what that means for the share price.

Stock market decline is far from over, maybe 50% more to go down. The bond market is tanking along with it.

#23 the Jaguar on 09.18.22 at 1:04 pm

I wouldn’t disagree that Canadians vote ‘against’ versus ‘for’, but we aren’t singular in that behaviour. We must vote for someone or we scuttle our vote. It reminds me of that old Billie Holiday song ” “If that isn’t love, it will have to do , until the real thing comes along.” We’re waiting for the real thing to come along, but one can wait a lifetime for that to happen, n’cest pas ainsi? Not many ‘step up’ for public office. No wonder. If he gets his chance we’ll see what Pierre P can do for us……

Lone, brave economist Derek Holt is correct when he says “if you light up a torrent of demand then more spending chasing goods and services can light up prices.” That said, somehow I just can’t let the everyday peep off the hook who can’t control the need for instant gratification, suffers from what Doug described as ‘Neomania’, and who puts material goods and status above living within ones means. Take responsibility for your actions and behaviour. Or is that just too old fashioned…?

https://www.youtube.com/watch?v=dbgE8lubcOw (Billie Holiday -Until The Real Thing Comes Along)…..

#24 crowdedelevatorfartz on 09.18.22 at 1:08 pm

@#14 Linda.
“….problem with being a saver is that firmly slots you into the ‘have’ side of things. Evil, evil you – stomping on the disenfranchised spendthrifts with all that money….”

++++
Yep.
I think a crushing recession that spares no one will be the big eye opener.
Living modestly while carrying a big financial stick also helps.
A 7 year old phone that works just fine.
An 8 year old truck that works just fine.
Zero personal debt.
A recession proof business that has no debt.
A large retirement portfolio.
Act poor while waiting for deals.
Evil works for me……..
:)

#25 Omicron Kenobi on 09.18.22 at 1:10 pm

The distance until June of 2025 is an eternity. By then inflation, interest rates and the cost of real estate may all be lower and stable. Covid could be a faded memory. Will we still be angry?

_______________

You will not be angry. You will be gone.

We will take all of you out.

Wave 8 will be massive.

https://www.ctvnews.ca/health/coronavirus/expert-predicts-massive-eighth-wave-after-ont-lifts-covid-isolation-rules-1.6050428

Wave 9, 10 and 11 will throw out all the leftovers.

Bye bye, humans. You have been a blight on our planet.

#26 Damifino on 09.18.22 at 1:10 pm

A long legacy of ineptness (a generous description) on the part of current governance is at least 50% responsible for the Poilievre phenomena.

It’s not that the Liberals fumbled the ball once or twice. Scoring in their own net and shooting themselves in the foot is practically their stock-in-trade. The list is simply breathtaking.

Now one is left wondering if any adults will ever inhabit Parliament Hill. There could be half a chance, but I’m not too optimistic. Still, it would be hard to do worse.

#27 crowdedelevatorfartz on 09.18.22 at 1:10 pm

@#18 Quinty’s quandry
“65% of Canadian voters are politically immature wimps, 35% are illiterate redneck idiots.”

+++
I gather you’re in the 65% of immature wimps?

#28 Watch oil at 200 pal you just wait on 09.18.22 at 1:25 pm

In politics a weekend’s a long time. The distance until June of 2025 is an eternity. By then inflation, interest rates and the cost of real estate may all be lower and stable. Covid could be a faded memory. Will we still be angry?

Somebody hopes so.

#29 Prince Polo on 09.18.22 at 1:30 pm

I also wish I could live in the mirrorless fantasyland where I didn’t have to look myself in the eye and see that I was the true cause of all my financial pain. Were Central Bankers going door-to-door threatening citizens to sign for gargantuan mortgages? Must’ve been out when they knocked on mine.

#30 Shawn on 09.18.22 at 1:35 pm

Money Printing Money Creation and Inflation

For those pinning most of the blame on expanded Bank of Canada balance sheet, it seem fair that you now take a look at the huge recent REDUCTIONS in the bank of Canada balance sheet.

At the following link, click the various little buttons to graph total assets and total deposits from the government of Canada and “members of payments Canada” (this last is what the banks have on deposit with the bank of Canada and I believe those deposits were generally created out of thin air when the central bank bought bonds from the banks)

If bond buying and asset increase was money creation then we must acknowledge that the asset reduction is money destruction?

#31 Robert Ash on 09.18.22 at 1:36 pm

It is the lack of Common sense that is the problem. Imagine a country so blessed with Energy and Energy Independence, and we waste the International Political clout, and the Domestic Revenue that results, from this natural important asset, an intrinsic natural advantage. Energy policy managed correctly could also support a Transition, to cleaner, options, which is what everyone wants, but Politics gets in the way.
There are so many self-defeating policies that we really have to become more engaged in the voting and selection process.
We also need more Legislation to reign in Politicians, to no longer permit large spending missions, and we should insist our voices are represented.
All these issues are complicated by the Anger driven social media, and the Mainstream Media, that have adopted a SeaChange in reporting. Now it seems fashionable for the MSM, to forget the facts and push the C suites corporate narrative for their chosen remedy, instead of publishing the facts. Underlying all our problems, are the Media messages. I come to this blog, to at least get some insight into the real feedback, since for the most part ideas, and opinions are welcome.

#32 Søren Angst on 09.18.22 at 1:44 pm

Will we still be angry?

Somebody hopes so.

——————-

#TrudeauMustGo

1,470 Tweets last hour. Over 460K Tweets thus far.

RIDICULOUS CTV and Canada’s National Observer claiming some are bots when in fact their articles are bots. Some of the “bots” …

https://twitter.com/masterknia/status/1571272938640252934
https://twitter.com/Truth_and_Tea/status/1570926551977578497
https://twitter.com/WendySaul/status/1571309602444017664
https://twitter.com/dallasalexandr/status/1571164388760879108
https://twitter.com/PamelaBarnum/status/1571542965163798528
https://twitter.com/Jakersmcgoo/status/1571532061747429378

——————–

As a Paleo, I see and read from these young people and I have HOPE and not pause for Canada🍁.

#33 truefacts on 09.18.22 at 1:51 pm

Trudeau Senior exacerbated inflation until we got sick of the Liberals and sent the Conervatives into gov’t with the largest majority since Diefenbaker.

Junior has also exacerbated inflation, most are sick of him – the final chapter will be written soon but history tends to “rhyme”.

#34 Søren Angst on 09.18.22 at 1:57 pm

“As a result of rising inflation over the past few months, have you….”

+

Chart

———————-

I read Comments here from Garth’s WELL HEELED crowd and wonder if they understand how bad it is for the average Cdn???

Next time you go shopping, oh WELL HEELED B&D OIL DIVIDEND VALUE cohort, look at 30 people and …

TEN OF THEM ARE IN DIRE ECONOMIC STRAITS, $$$ in << $$$ out

Let that sink in.

(provided you can find time to avail yourself from Google Finance et. al.)

#35 Shawn on 09.18.22 at 2:27 pm

The forgotten link

https://www.bankofcanada.ca/rates/banking-and-financial-statistics/bank-of-canada-assets-and-liabilities-weekly-formerly-b2/

#36 DON on 09.18.22 at 2:29 pm

#3 crowdedelevatorfartz on 09.18.22 at 11:26 am
A poo flinging monkey could see what was going to happen to the economy with record low interest rates and record high housing prices…..a year ago.

While the politicians flung 10’s of billions of taxpayer $$$$ at the voters and the CB did nothing.

A 64 year old co worker had her catalytic converter stolen a month ago.
Replacement cost ?
$1800
She had to take out a short term , high interest, loan……
Tip of the iceberg.

The looming recession will be ugly for the spendthrifts.
For the savers…..not so much.

Perhaps I can update my 7 year old smartphone at a bankruptcy auction over at “Disgusts” condo.

:)

****************
Poo flinging monkey here…Yup!

And the current geo-political under currents are bringing about a new normal.

New cars: So many people driving new Jeep SUVs …the new must have.

Politics is just a cycle based on human nature and a sign of the times.

@Quint

50% of Canadian voters are politically immature wimps, 30% are illiterate idiots and 20% are stuck on an island in the swampy ocean.

#37 Shawn on 09.18.22 at 2:36 pm

Why Corpoartions Don’t Pay off their debt

#22 Winter on 09.18.22 at 12:41 pm
For decades corporations have rolled over debt and never paid it back. Why?

Because each year interest rates drop, less to be paid on interest, so profits rise. Some borrow more.

But now with inflation on inputs and interest rates rising they are getting hit from all sides.

When a 2% coupon rises to 4% their carrying cost doubles, and you know what that means for the share price.

Stock market decline is far from over, maybe 50% more to go down. The bond market is tanking along with it.

****************************************
The biggest reason that corporations roll over their debt and never pay it back is that they keep on growing.

If a corporation’s assets keep growing due to retained earnings and general success and even inflation then the debt needs to keep growing if it remains reasonable to leverage the equity with debt.

Corporations don’t necessarily ever expect to die or to retire. So, unlike humans and like governments, they have no need to ever pay debt down to zero.

But you may well be right about further stock market declines as interest rates rise due mostly due to the higher required rate of return, (lower P/E associated with higher discount rates) as well as possible earnings hits due to higher interest.

And yes long-term bonds MUST crater with higher interest rates. That’s actually a tautology.

#38 Søren Angst on 09.18.22 at 2:38 pm

Could not resist …

apparently, Cdns divided in how Trudeau should go

21 hours ago

#TrudeauMustGo
393K
#TrudeauHasGotToGo
88K

—-

16 hours ago

#TrudeauMustGo
431K
#TrudeauHasGotToGo
86K

—-

57 minutes ago – less keystroking wins the day

#TrudeauMustGo
485K

… finally, consensus.

https://trends24.in/canada/ *

and crushing No. 2 GTA 6 (Grand Theft Auto) and No. 3 #CaneloGGG3 (some boxers, fighters?) – me reconsidering there is HOPE for Canada.

* Thank you Lorrie Goldstein @sunlorrie

#39 Justin Trudeau is a demented [email protected] on 09.18.22 at 2:46 pm

Junior has also exacerbated inflation, most are sick of him – the final chapter will be written soon but history tends to “rhyme”.

#40 crowdedelevatorfartz on 09.18.22 at 2:46 pm

Police officer attacked with Skateboard.
Suspect arrested.
Charged.
Prior warrants.
Released later that day.

https://vancouver.citynews.ca/2022/09/18/victoria-police-attacked-skateboard/

Our “justice system” is….a…..joke.

#41 Sailedaway on 09.18.22 at 2:47 pm

Let’s not forget the clown in chief at Sobeys. Clients are nasty because they complain… somebody fire him…

And now ladies and gentlemen from the frozen tundra cold Canada:

Why do we not have REAL low cost grocers like Aldi or Lidl?

Why do we not have real low cost flights like on easyjet, allegiances etc?

Why do we overpay internet, phone etc?

Why do we put up with constant farcical mediocrity?
The ‘good enough’ mentality

To pay for that comical socialist healthcare? Please….

When you’ll have answered those questions you’ll start to understand.

A real deep recession a la 2008 is required in this country to knock off the arrogance and get it ready for this century.

#42 The General on 09.18.22 at 2:50 pm

Thanks to the west’s sanctions, Russia is in its way to confirming Halford Mackinder’s predictions made over a century ago, that Russia is the true geopolitical center of the world.
Anyone see N. Modi, V. Putin and Xi Jinping in Samarkand? “Ex Oriente Lux! (Light comes from the East!)”
In 1912, John Pierpont Morgan, in evidence to Congress, said gold is money. Mr. Fart’s, what say you?

#43 PBrasseur on 09.18.22 at 2:52 pm

The next election won’t matter much IMO, so much damage has already been done, now there is no escaping the consequences, doesn’t really matter who’s in power when decisions are made for you by others, the bond market, the rating agencies or worse the IMF. In other words debt is slavery!

Just see the austerity measures imposed in Greece by their own far left government…

#44 Hashtag - I stand with the TURDeau on 09.18.22 at 2:55 pm

Junior has also exacerbated inflation, most are sick of him – the final chapter will be written soon but history tends to “rhyme”.

#45 Steven Rowlandson on 09.18.22 at 2:57 pm

Canada’s Conservative party is rightist? Surely you jest.

#46 Flop… on 09.18.22 at 3:15 pm

#17 TurnerNation on 09.18.22 at 12:03 pm

From last blog this link was posted. Guess where people store their phones, oftentimes in their front or back jeans pocket. Right up against their reproductive organs.
Trust the science!! Killing us softly. Always.
https://www.visualcapitalist.com/radiation-emissions-of-popular-smartphones/

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

Look Mum, I’ve become an anonymous assistant for TN, nothing can stop me now!

I framed my post in my normal juvenile format but I was really just trying to let DonG see if he knew about the supposed higher reading on the type of phone he is using.

“#22 Don Guillermo on 09.17.22 at 11:51 am

I used to use Samsung but some years ago I bought a OnePlus 6
(Chinese). The motivation was it could carry dual SIM cards.”

One Plus was second highest on the radiation list behind Motorola Edge.

I’m a dumbo construction worker, not a quack, but I don’t want anyone on here getting hurt unnecessarily.

I joked about my work replacing a perfectly modern iPhone recently, my personal phone is a 10 year old Samsung 3G that takes care of the basics for 20 bucks a month.

Which leads me to this…

“#70 Wrk.dover on 09.17.22 at 6:10 am

#54 Flop… on 09.16.22 at 8:07 pm
What about if you agreed to find a classy lady…
__________________________
Visualize me….”

I found it easier to relax and write what I want to write on here by pretending everyone was the male or female physical version of my old blog buddy Boom.

Scroll down and have a look at Roy Stacey, who was he going to hurt by exchanging his thoughts and some Dad jokes?

https://www.greaterfool.ca/2016/12/26/boomer/

Once he passed away, and Garth wrote his tribute post on Boxing Day 2016, I made a conscious effort to visualize the majority of posters in this type of sweeter, gentler mold of a human being…

M48BC

#47 The General on 09.18.22 at 3:26 pm

Vainglorious definition from The American Heritage Dictionary of the English Language- Synonyms:

-prideful
-self conceited
-opinionated
-smug
-stuck up
-vain
-pompous
…and my personal favorite- swellheaded. Like certain commentators on certain blogs ;)

#48 Quintilian on 09.18.22 at 3:27 pm

#27 crowdedelevatorfartz on 09.18.22 at 1:10 pm
“I gather you’re in the 65% of immature wimps?”
Yes.

But only because the alternatives are impractical, reprehensible, more corrupt, and small minded.

I have invoked upon myself the Hippocratic Oath -voter’s version.

And that is to do the least harm, if I cannot do good.

#49 Timmy on 09.18.22 at 3:42 pm

THere are a lot of ignorant people in Canada who lack basic critical thinking abilities–that’s why Skippy has gotten as far as he has.

#50 Catalyst on 09.18.22 at 3:43 pm

It’s poor timing for sure – if PP waited until 2024 to make his case it would seem like he has momentum. It’s going to be difficult to carry this for 3+ years.

#51 baloney Sandwitch on 09.18.22 at 3:44 pm

Garth is feeling a little gloomy today. No talk of “no recession” – stormy weather ahead. Looks like we are heading into a 1970 style stagflation. Look at history and position yourself accordingly – value stocks, TIPs, commodities, oil, gold, canned beans and tuna, shotgun, dog and retreat into the old cave.

#52 Tony on 09.18.22 at 3:49 pm

It all goes back to the day America went off the gold standard. if it didn’t happen there would be no government deficits, no poor and no homeless people today. Greenspan’s and Bernanke’s policies just exacerbated things.

#53 Inflation is too High on 09.18.22 at 4:00 pm

Drukenmiller who I consider the best investor of all time sees a flat decade ahead for the stock market with a high probability for a recession, I am assuming he does not see a big drop in interest rates in the future, I wonder how this affects TO real estate prices.

#54 baloney Sandwitch on 09.18.22 at 4:07 pm

#8 Shawn.
Helpful links on the Fortune articles. I plan to read them at my leisure.
The addition of CB asset to GNP/GDP denominator was a modification introduced to correct the distortions in total market cap due to Fed money printing post 2000. If you leave the distortions uncorrected, then the Buffett indicator is even higher.
Here is a Gurufocus video discussing the indicator and its modification.
https://www.youtube.com/watch?v=9MHVmKSrc5M
https://www.gurufocus.com/stock-market-valuations.php

#55 Doug in London on 09.18.22 at 4:08 pm

So, if Pissed Off Pierre ever became prime minister would this nagging inflation just magically disappear? If you believe that, then I could likely sell you some shares in Nortel for 20 grand each, and that’s U.S. dollars. While we’re at it, I could probably also sell you some premium priced shares in Enron, Bre-X, Eastman Kodak, Sears Canada and possibly even some shares in Bramalea, Inc.

What we need here is a reality check. Recently I went to pay for my purchase at Canadian Tire Petrol. The attendant noticed my Taj Mahal T shirt, and that opened up a conversation about India. She came from the Punjab region of India about 5 years ago, and I asked her what her impressions are about Canada. She said in India, with the high population and a lot of educated people it’s hard to get a job there. By contrast, it was easy, she thought Canada is a land of opportunity. Similarly, I struck up a conversation with a young Indian man 5 years ago, originally from Delhi, at a Husky station in Toronto. He said that he believed Canada has a stable government and if you’re willing to work you’ll do just fine here. I wish more Canadians, who were born here, thought that way.

#56 Bdwy on 09.18.22 at 4:08 pm

DELETED (Anti-vaccine coward)

#57 Bdwy on 09.18.22 at 4:21 pm

I got my shots. Just pointed out some stats.
Why is half the country not getting theirs?

#58 HH on 09.18.22 at 4:26 pm

I’m a boomer and I certainly don’t consider myself to be in the elite category.

#59 Bezengy on 09.18.22 at 4:27 pm

I will support Poilievre now that he’s been chosen as the CPC leader, what choice do I have? Two things come to
mind. First, that was the best acceptance speech I’ve ever heard. Second, that was the most biased media coverage I’ve seen in awhile. From the perma-scowl on the cbc host to the air time given to the Liberal MP to criticize the newly elected leader 5 minutes after being declared the winner, it was awful. The CBC is not doing themselves any favours as many folks I know just tune them out.

Evil CBC. Providing balance. Imagine. – Garth

#60 Leon Smuk on 09.18.22 at 4:29 pm

No matter the government they all do the same thing, take credit for things that are good that they really had nothing to do with. So is it any wonder that people blame them and demand they do something when things are bad? Maybe if they’d all be more honest and people understood that the government didn’t create the jobs they claim credit for instance, we would be better off.
Justin, Jagmeet and Pierre, dog help us.

#61 ImGonnaBeSick on 09.18.22 at 4:34 pm

#55 Doug in London on 09.18.22 at 4:08 pm

Sorry Doug, but this is a silly comment.. 5.4% unemployment = Canadians work. Some of us would just like to keep/control a bit more of the money that we earn, and that could easily be done with a bit of responsibility from the ruling class..

#62 Fact Checker Fred on 09.18.22 at 4:40 pm

I paid 136.9/L of gas in Hanover Ontario today.
Late August of 2005 I paid the identical price while driving between Prince Albert Saskatchewan and Edmonton Alberta. Hurricane Katrina was the culprit. Ironic, I thought at the time as I passed all the huge oil wells along the way.
Wow I thought, as I pulled out of Hanover, the price of gasoline has remained stable for almost 20 years….

#63 Trudeau won't make it to 2025 on 09.18.22 at 4:46 pm

Here is my prediction:

Either Trudeau will step down or he will be ousted in a non confidence vote. He is the most hated man in Canada right now and just wait until he tries to bring back vaccine mandates and/or bring in the WEF digital ID. He’s toast.

But what about the deal with the NDP you might ask? Pierre will find dissenting members in the NDP and Liberal party (of which there are many) and force a no confidence vote:

https://m.youtube.com/watch?v=HPJaSZwyLp0

I say blackface PM is gone before Christmas.

#64 crowdedelevatorfartz on 09.18.22 at 5:15 pm

@#57 Trudeau au Revoir

As much as I’d love not seeing the wokester apologist lecturing us all weekly on how racist and misogynistic we all are.

I will enjoy watching him and Freeland stutter, deflect and squirm as the economy stalls, the dollar tanks and there are no more billions to give.
Sometime in 2023 if things keep going the way they are.
Two years of angry voters, angry press, angry Liberal MP’s dealing with the wrath of complaints.
He deserves it.

#65 Wrk.dover on 09.18.22 at 5:15 pm

#25 Omicron Kenobi on 09.18.22 at 1:10 pm
Wave 8 will be massive.
__________________________________

Are you texting us from a 5km snake line/conga dance, somewhere on the British Isles?

#66 crowdedelevatorfartz on 09.18.22 at 5:20 pm

DELETED (Abusive, puerile)

#67 crowdedelevatorfartz on 09.18.22 at 5:28 pm

@#42 General Mayhem
“Mr. Fart’s, what say you?’

++++
Russia is the “Russia is the true geopolitical center of the world.’

Bwahahahaha.
Tell that to the sick, aging (almost 70 ), paranoid dictator trying to hold things together.
if the assassination attempts don’t get him….hopefully cancer will.

As more of their satellite border countries break down into anarchy and “special military operations” ie war.

As the Russian recruitment caravans try monetary bribes to encourage 18 – 60 year old men to join “the cause”.
As China uses Russia’s (terminal?) weakness to grind them for better deals on Nat gas, oil , wheat, etc etc etc.

If the geopolitical center is a deep deep hole….
Then yes.
Russia is it!

#68 Balmuto on 09.18.22 at 5:31 pm

I think the feds did cause inflation through their stimulative fiscal policies in response to the pandemic. I’m not saying it was the wrong thing to do – doing nothing probably would have had worse consequences. But it is what is and Trudeau is hardly alone in this – one of the last things Trump did in office was to approve a massive spending package in response to COVID. And because of the huge influence the US consumer has on prices, that probably contributed more to our inflation than Trudeau’s actions did.

But what tells me it was more the feds than the central bank is the fact that central banks have been pursuing easy money policies for over a decade without stoking consumer price inflation (asset prices are a different story). But the big stimmy checks did what the central bank policies could not – get money in the hands of the people mostly likely to spend it on goods and services.

#69 Philco on 09.18.22 at 5:32 pm

DELETED (You are free to comment but not to name-call and childishly insult people elected people.)

#70 Wrk.dover on 09.18.22 at 5:34 pm

#46 Flop… on 09.18.22 at 3:15 pm
Visualize me….”

I found it easier to relax and write what I want to write on here by pretending everyone was the male or female physical version of my old blog buddy Boom.
____________________________

More like George Costanza, but with some muscle.

And another thing, the address in Oakville is 480 Lees Lane, should read Loss Lane.

#71 DJT on 09.18.22 at 5:42 pm

Excessive buying comes from printing too much money.

Thats why we need PP to audit BoC.

A bad possible outcome for any nation is the politicization of its central bank. Don’t fall for such foolish, vacuous and dangerous rhetoric. – Garth

#72 Tom from Mississauga on 09.18.22 at 5:53 pm

I agree with everything but the higher unemployment. Lower productivity and Boomer retirement will keep us at historic low unemployment rates.

#73 The General on 09.18.22 at 5:55 pm

#67- Mr. Fart’s : Please read #47. Have you ever heard of shooting fish in a barrel?

#74 Adam on 09.18.22 at 5:56 pm

Mark Cuban said that the boomers were the most disappointing generation in history, and that he thinks Gen Z (the zoomers) will be the true greatest generation in history. He says that this new zoomers generation (roughly ages 12 to 27) is an enlightened generation that has grown up during covid and has put personal happiness and fulfillment above all else. One might see this as a lack of “work ethic” but the zoomers don’t see it that way. They are willing to work hard, they just won’t do it without a purpose or meaning. The median age of this “cohort” is around 20. Over the next 10 years or so, this cohort will enter the workforce continually and will become a force to be reckoned with. They will change all the rules, whether any of us like it or not. Employers who don’t adapt and accept this will have to commit themselves to not hiring any zoomers, which of course is not really a feasible long term plan. As much as we don’t want to admit it, we need the zoomers more than they need us.

#75 NOSTRADAMUS on 09.18.22 at 5:56 pm

FOUR STRONG WINDS.
The Central Banker Frankenstein policies are about to turn on their master. If the debt load out in the real world is as bad as they say, then Canadians as a collective have amazing poker faces.
If this debt be the case, it would suggest that many debtors are balls deep in debt and will shortly find out that 95% of the things our Pinocchio Overlords told us is not true.
For years, numerous people listened and believed, and bought real estate. With the real estate cartel and their bought and paid for media lackey’s preaching values are going up, up, and away, you’re rich man. Being a rich man, why not have some of the finer things in life, new cars, toys and vacations, etc. The financial means to purchase these goodies had to come from somewhere and a baby mortgage birthed a big mortgage. This allowed a lot of speculator’s a glimpse into another lifestyle.
This reminds me of the Neil Young lyrics to, Four Strong Winds,
” Four strong winds that blow lonely
Seven seas that run high
All those things that don’t change come what may
But our good times are all gone
And I’m bound for moving on.
I’ll look for you if I’m ever back this way.”
Finally the voice of reason.

#76 Yeah ok on 09.18.22 at 6:00 pm

69 Philco on 09.18.22 at 5:32 pm
DELETED (You are free to comment but not to name-call and childishly insult people elected people.)

Because sure “Pepe” is not childish or insulting!! You clearly mean it as term of endearment…

PP or Pepe hardly seems an insulting reference to someone named Pierre Poilievre. In the realm of T2, I would say. – Garth

#77 Ponzius Pilatus on 09.18.22 at 6:06 pm

Gy territory, buddy.
Critical thinking, eh?
Everybody is a deep thinker and a philosopher in steerage.
Ok.
Let’s see what you got.

#78 Philco on 09.18.22 at 6:10 pm

DELETED (Name-calling. Grow up.)

#79 Brian on 09.18.22 at 6:13 pm

Evil CBC. Providing balance. Imagine. – Garth

CBC, Global and CTV have stopped providing balance for 7 years now!

#80 blobby on 09.18.22 at 6:25 pm

@#71 DJT : Please write on the blackboard 100 times.. “The BoC has not been printing money”

@#1 Spock : “PeePee came out 100% telling people the opposition is 100% of the cause of ALL their problems”.. The same as spanky did in the US.

There’s a massive difference. At no point (to my knowledge) has JT told people to “blame” their problems on “the other side”.

People inherently never want to blame their own problems on themselves. The want someone/groups/etc to blame things on. In the US they do it by blaming everything on (for want of a better word which wont upset people) “outsiders”

In Canada “woke” is the problem (apparently).

But yet, they are always unwilling to define what exactly “woke” is .. And why it’s a “problem”… But – we all know what they mean by that, and it all boils down to the same thing.

I wont highligh exactly what he means by that.. we ALL know what he means..

Blaming “them” for “our” problems..

#81 Brian on 09.18.22 at 6:29 pm

Tomorrow, Canada’s civil servants who have been sitting at home with full pay for two years will get to sit at home for the day with full pay.

#82 Josh Feldman on 09.18.22 at 6:36 pm

Young Canadian here. Age 27.

Trudeau has let me down.

Rental and real estate prices have skyrocketed ever since he got elected in 2015. I remember a 1-bedroom apartment going for $1,100 a month in 2014, now it’s over $1800 a month.

Trudeau is also infringing by enacting Cybercrime acts which have nothing to do about real crimes and more to do with silencing dissidents.

Trudeau also enabled the Emergencies Act which shows his tyrannical nature.

Of course, I will vote for Poilievre who promises to make Canadian real estate affordable, increase oil and gas jobs and make Canada a free country.

What does a young man like me have to lose other than living in sufferation under Trudeau?

#83 The General on 09.18.22 at 6:41 pm

#67- Mr. Fart’s : I believe wishing cancer on a fellow human being is rather mean spirited. Don’t you think? Mabey try funneling your anger towards some sort of hobby, like crocheting? Best of luck.

#84 "NUTS!" on 09.18.22 at 6:42 pm

I’ve said several times, and it needs repeating. Yes, one could argue there are several forces which contributed to the current debt crisis. Low interest, stimulus cheques, printing money (tiny contributor) are but a few the masses are claiming. But ultimately it comes down to one undeniable truth, the responsibility and accountability rests on those who gorged themselves and overextended their ability to withstand any change in the landscape. And now they are looking for anyone else to blame but themselves. I’m sorry to see the pain, but it’s imperative that it plays out and hopefully becomes a teaching moment, particularly for the newer generations, as they have not seen it before.

#85 Concerned Citizen on 09.18.22 at 6:43 pm

#59 Bezengy on 09.18.22 at 4:27 pm
The CBC is not doing themselves any favours as many folks I know just tune them out.

Evil CBC. Providing balance. Imagine. – Garth

*****

It’s alarming to me the number of people who seemingly do not understand the role of true journalism. The role of a journalist is often to ask difficult questions about difficult – and uncomfortable – topics. It is not to present the government of the day in the best possible light. If a party – any party – is crooked or makes policy based on fantasy, I want to know about it. Also, people need to learn – and re-learn – the difference between hard news and opinion pieces/columnists.

Numerous third party studies have shown the CBC to be an impartial news authority. We live in an age where the truth is increasingly hard to find, and where private sector news organizations the world over have turned into party mouthpieces. The case for a strong, publicly funded CBC, BBC, etc. is stronger than its ever been. The benefit we get from the CBC far outweighs the money we spend on it.

I am fiscally conservative, and it drives me nuts that the reformer types fail to see this. It’s one of the reasons I have difficulty voting Conservative. Oh Progressive Conservatives, where are thou?

#86 Grunt on 09.18.22 at 6:45 pm

Never mind plenty of distractions for the Poili to pollinate.
Housing, inflation, interest rates, monarchy etc. Most Canadians won’t know any better.

#87 Pieter Duschenko on 09.18.22 at 6:55 pm

What good has the Liberals done for Canada?

Home prices are through the roof, inflation is terrible, our oil and gas industries are collapsing and homelessness is rising.

There is a sense of despair when I speak to my sons and daughters regarding Canada. They want to live in Moscow they tell me. They tell me that Canada under the Liberal is communist and capitalist at the same time.

Communist politicians who profit from capitalist housing bubbles.

I will vote for the Conservatives in 2025. The Liberals don’t care about you.

I as a man started to cry after seeing how much Pierre cares for us as Canadians. We are living in Soviet Russia right now without the free housing and lower cost of living.

#88 greyswan on 09.18.22 at 7:14 pm

This was all created by the FED, mostly benefits corporations enter into stock buybacks as example and a few people with stocks and other assets like real estate!!

Who is going to be paying for the largess !?

#89 Sparky on 09.18.22 at 7:26 pm

The music has been playing for a long time and it has been getting louder and louder. Has anyone been paying attention to the chairs?

#90 gfd on 09.18.22 at 7:33 pm

Realtors are working overtime.
“Canadian cities facing housing supply crisis, Re/Max report says”

https://www.ctvnews.ca/business/canadian-cities-facing-housing-supply-crisis-re-max-report-says-1.6072542

#91 King Charles Spaniel on 09.18.22 at 7:35 pm

DELETED (Disrespects the Queen)

#92 Victor Llearna on 09.18.22 at 7:44 pm

I lean new word today “Vainglorious”. Great new word. One day when you look up Vainglorious in the dictionary it will have a picture of Justine Trudeau below it.

#93 Nonplused on 09.18.22 at 7:44 pm

“And it was Canadian buyers who did this, not the Chinese dudes or struggling immigrants we vilified.”

The secret to “specuvesting” is to buy something when it is cheap and sell it when it is dear. Many specuvestors did this during the run up in house prices. Some of them may have been Chinese. Most were Canadian.

But specuvestors do not determine ultimate prices, supply and demand does that. So ya, it is back to cheap money. Cheap money drove up demand, which drove up prices. Smart specuvestors saw what was coming and just got in front of it. After all, the relationship between cheap money and expensive houses (and everything else) is not new. Perhaps only one in a hundred understood the relationship, same as not many understand the relationship between cheap money and inflation, but one in a hundred is enough. But ultimately, though they may have profited as the price rose, they did not cause the price to rise. To make a profit, they have to sell eventually, so their net impact on demand over the long term is zero.

Interest rates and free money on the other hand….

The job of the central banker is to keep his artificially created money supply balanced with the demand for money, as dictated by underlying productivity. Inflation means the central banker is making too much money (interest rates are too low), whereas deflation means not enough. Because deflation is considered so bad, for safety reasons slight inflation in the 2% range is considered best to balance all risks.

But 8% inflation? Rates gonna rise.

Yes, politicians will blame Putin. But on the other hand it was politicians who said we are going to rely on pinwheels and solar panels for energy, and we won’t buy any oil & gas from invasive Russians. We overlook whatever the Saudi head choppers are up to, but invasive Russians? No way.

So what we’ve got is too much money just as there isn’t enough energy. Ya, prices gonna rise. For everything. Everything requires energy. Energy is the economy.

————————————-

Sort of like how I don’t consider the FHBP (first home buyer’s program) to be a real policy (it cancels itself because anyone who could benefit from it doesn’t have the money to benefit from it), it turns out Biden’s BBB money for nuclear is a non-policy too. Yes, they’ve set aside billions in funding for nuclear in their new “inflation reduction act”. But on the other hand they kept in place all the policies that mean no new nuclear projects can ever be approved. It’s a smoke show. Pure politics. It’s sort of like James Randi offering $1 million to anybody who could prove beyond reasonable doubt that they have psychic abilities. The money is safe.

#94 Ed on 09.18.22 at 7:47 pm

The bar to become Prime Minister has never been set lower.

#95 Thus Spoke Zarathustra on 09.18.22 at 8:08 pm

#25 Omicron Kenobi on 09.18.22 at 1:10 pm

“Bye bye, humans. You have been a blight on our planet.”

The planet gave birth to humanity. We are not an accident, but a crowning achievement. When we remake the planet in our image, the planet is better for it.

Shall the ugly be put before beauty? It is like a flower crushed under a rock. Shall the wise defer to the fool? It is like an extinguished candle and all shall be in the dark. Shall the strong humble themselves before the weak? It is an abomination.

Instead, let the flower blossom in the sun, let the candle shine bright so all can see, and let the strong prevail, as it ever was, and ever shall be.

Shall nature be preserve in its primitive state? Yes, as it suits us, and for our pleasure. For as the jester is to serve the king, so is lower nature to serve higher nature.

#96 Former Liberal on 09.18.22 at 8:14 pm

“And as a skilled debater and orator, Poilievre is more than willing to engage in civil tête-à-tête encounters in the House of Commons, with the media or the occasional heckler to disprove their remarks. That’s not only the mark of a good politician, but also a strong political leader who will fight on your behalf for shared ideas, policies and values.”

Michael Taube: How Pierre Poilievre can become Canada’s next prime minister

……………………………………………………………………..

The Prime Minister Justin Trudeau is about empty promises. The Liberals promised affordable housing, but we had Adam Vaughan laffing on TVO that high home prices are good for investors but admits that they are bad for Canadians.

Are people like Adam Vaughan you want to manage your country?

Unfortunately, the majority of Liberals think like Adam Vaughan. There is a conflict of interest that the Minister of Housing is vested in rental properties. Check it out on the government websites.

The Liberals bullied Jody Wilson for having a free mind, and the higher echelons of the Liberal Party of Canada just encouraged it. Is this who you want as government?

Trudeau must GO.

Pierre Poilievre cares about you fellow Canadian. Not Trudeau. Not Adam Vaughan. Not Freeland. Not the Liberals.

Elect Trudeau out of office in 2025.

The Poilievres own investment rental property. – Garth

#97 @J on 09.18.22 at 8:14 pm

#59 Bezengy on 09.18.22 at 4:27 pm
Evil CBC. Providing balance. Imagine. – Garth
————————————-
A recent survey shows that Canadians trust in MSM is declining. “52 per cent agree that most news organizations are more concerned with supporting an ideology.” “52 per cent of Canadians agree the media is not doing well at being objective and non-partisan.”

Survey data can be questionable, but it’s still concerning.

Sources:

https://www.cbc.ca/amp/1.5936535

https://www.edelman.ca/sites/g/files/aatuss376/files/trust-barometer/2021%20Canadian%20Edelman%20Trust%20Barometer.pdf

Most kiddos get their news from TikTok. Maybe we should worry about that. – Garth

#98 Bezengy on 09.18.22 at 8:19 pm

#85 Concerned Citizen on 09.18.22 at 6:43 pm
#59 Bezengy on 09.18.22 at 4:27 pm
The CBC is not doing themselves any favours as many folks I know just tune them out.

Evil CBC. Providing balance. Imagine. – Garth

*****

It’s alarming to me the number of people who seemingly do not understand the role of true journalism. The role of a journalist is often to ask difficult questions about difficult – and uncomfortable – topics. It is not to present the government of the day in the best possible light. If a party – any party – is crooked or makes policy based on fantasy, I want to know about it. Also, people need to learn – and re-learn – the difference between hard news and opinion pieces/columnists.

————————

If there’s one thing that reffing hockey for 20 years taught me is that you gotta call them as you see them. Now if you’re telling me I gotta open my eyes, I can tell you I seen the whole play, and I’m confident with my call.

#99 Amy on 09.18.22 at 8:28 pm

Ever wondered why many in the Liberal Party own several rental properties, while you, the working Canadian struggle to pay rent and food for your family?

It’s because the gatekeepers in Bay Street collude with the Liberals to make life harder for Canadians. Price fixing. Housing bubbles. Printing money for corporations.

Do you see a future owning a home, raising a family and living the Canadian dream under Trudeau?

I don’t think you do. It’s because under the Liberals, rents and home prices have skyrocketed due to Liberal policies.

As a market researcher for IPSOS, I receive comments which basically tell me that if Canada was Revolutionary France, the guillotines would have already been cleaned up for the Liberals.

Other relevant comments are that Trudeau and his cronies are making themselves rich. Trudeau doesn’t have the Canadian in mind, you get the idea.

But one common sentiment about the Liberals: They are filled with empty promises and action speak louder than words.

The Liberals have decimated the happiness of the majority of Canadians.

It’s time we act democratically, put away the guillotines and ELECT a new leader.

Troll. People like you (faking an identity) poison and destroy public debate. – Garth

#100 Philco on 09.18.22 at 8:55 pm

Not growing up Garth.
The guys a useless fake. I know squate and I could do better big time. But it would be like living in a sewer.
What are you waiting for? You got the Teflon attitude.

#101 To the point. on 09.18.22 at 8:58 pm

I, for one, am not worried by the incoming Conservative leader OR the next recession. Justin may be a lot of things, but he knows how to win a fight. Remember the fate of that Harper Conservative appointee, Patrick Brazeau? And a recession (yes, it’s cruel) might be just what’s needed to smarten some Canadians up!

While it’s tragic to witness the suicide of the once proud Progressive Conservative movement, no amount of yelling “woke” is going to get the Millennials, now the largest segment of the work force, to vote for Republican-style fear and hate. Canada will not sink to that level of populist repugnance. The trucker convoys were a short-term product of the pandemic.

If the demographic and political centre holds (urban BC, Ontario & Quebec), then the economic storm will blow over and after the next election win, Justin will smoothly handover to Mark Carney. Pepe will be very old news.

#102 KrisTea on 09.18.22 at 9:01 pm

Fraser Institute, interesting report. 9 out of 10 jobs over pandemic were government jobs. :O
Report covered on many media sights. What happens when the Gov. starts layoffs? https://www.fraserinstitute.org/studies/comparing-government-and-private-sector-job-growth-in-the-covid-19-era

#103 AM in MN on 09.18.22 at 9:06 pm

#85 Concerned Citizen on 09.18.22 at 6:43 pm
#59 Bezengy on 09.18.22 at 4:27 pm
The CBC is not doing themselves any favours as many folks I know just tune them out.

Evil CBC. Providing balance. Imagine. – Garth

*****

Well let’s see…. The fact that for more than 3 years they opened every National (which “Nation”, Canada?) with about 6 stories of the fraudulent Trump Russia collusion hoax, does give one pause regarding how honest their reporting is. They haven’t slowed down much since.

They are basically just another way that Governments around the world fund and push cultural and economic marixism on a population that would otherwise reject it. They have a political message to drive, and they select “news” that drives it.

The problem is, eventually the results catch up average people, the vast majority of whom don’t watch or listen to the CBC, see their ratings.

Once you get economic numbers as garth shows above, it is hard to keep lying to people that such realities don’t exist.

Printing money and shutting down the economy in the name of Covid and Global Warming are finally catching up to everyone.

It doesn’t help that the CBC keeps only pushing one side of these debates, and refuses to even acknowledge the very real scientific data against the political message on these two issues that they keep driving.

Try and take a completely honest poll of parents who think it was a good thing to shut the schools down, have mask mandates, close the borders to families, vax mandates for children etc. The “experts” that pushed all of this through the CBC have lost all credibility, and as time goes on and the truth seeps out it only gets worse for them.

PP’s greatest strength is that he’s figured out how to use social media to bypass the legacy media, and they don’t like it.

#104 TurnerNation on 09.18.22 at 9:10 pm

Some predictions. That, GTA SFH prices will fall back to 2008 levels.
And like WW2 the USA will be drawn into this WW3 somehow.

The point of this in the mean time, formenting civil was in the USA. Just some actors playing out the parts.

Florida Flies 2 Planeloads of Migrants to Martha’s Vineyardhttps://www.nytimes.com › 2022/09/14 › desantis-florida-…
3 days ago — Taryn M. Fenske, the communications director for Gov. Ron DeSantis of Florida, said the two flights were part of a state program to transport …

DeSantis flying migrants to Martha’s Vineyard is the evilest …https://www.nbcnews.com › think › opinion › desantis-…
1 day ago — Florida Gov. Ron DeSantis unexpectedly sent two planes carrying mostly Venezuelan immigrants, including children, to Martha’s Vineyard on …


— War on Small Business — kicked off March 2020 — continues.

.Prices at Toronto restaurants to soar by up to 15% — as industry deals with ‘anything but normal’ situation (thestar.com)

#105 Don Guillermo on 09.18.22 at 9:14 pm

Flop… on 09.18.22 at 3:15 pm

I framed my post in my normal juvenile format but I was really just trying to let DonG see if he knew about the supposed higher reading on the type of phone he is using.

“#22 Don Guillermo on 09.17.22 at 11:51 am

I used to use Samsung but some years ago I bought a OnePlus 6
(Chinese). The motivation was it could carry dual SIM cards.”

One Plus was second highest on the radiation list behind Motorola Edge
#########$
No worries Flop. I appreciate the feedback.

Actually I wish I’d known a few weeks ago. I recently went through a week of intense radiation at the Tom Baker. I could’ve just duct taped the phone onto my body and saved Alberta health services valuable resources.

Just kidding of course. Cheers mate!

#106 Greg on 09.18.22 at 9:19 pm

Some of these comments sound like Russian bots

#107 crowdedelevatorfartz on 09.18.22 at 9:38 pm

@#101 to the point
“no amount of yelling “woke” is going to get the Millennials, now the largest segment of the work force, to vote for Republican-style fear and hate.”

+++
Nah.
All it should take is higher inflation, more interest rate hikes, job loss, house loss….all while Trudeau continues to prattle on about endless racism and sexism.
The most divisive PM ever.

#108 Far Far Right Canadian on 09.18.22 at 9:44 pm

DELETED

#109 A01 on 09.18.22 at 9:55 pm

Evil CBC. Providing balance. Imagine. – Garth
———————————————————–
Does anyone even watch the CBC anymore? Time to shut it down, nobody cares and it’s not protecting anything.

#110 Reality is stark on 09.18.22 at 9:59 pm

We are a country that panders to the risk averse.
We needed to open up the money spigots during the pandemic to keep people from committing suicide but the minute it ended the hammer needed to come down.
All public service pension matching needed to be eliminated.
We needed to announce a new private/public health care initiative just as we have with schooling.
When you borrow you need a plan to repay.
If the public servants strike so be it. Negotiate with them like Reagan would.
We need to overhaul the public sector swamp.
The dunces told the populace the world was going to end when they privatized Toronto garbage collection. The Toronto Star predicted that everyone was likely to perish as a result.
When you are broke you can’t afford exorbitant salaries.
Instead our fearless leaders spend more which is a recipe for disaster and a collapse of the currency.
This place is a mess.

#111 Flop… on 09.18.22 at 10:04 pm

#105 Don Guillermo on 09.18.22 at 9:14 pm
Flop… on 09.18.22 at 3:15 pm
I framed my post in my normal juvenile format but I was really just trying to let DonG see if he knew about the supposed higher reading on the type of phone he is using.
“#22 Don Guillermo on 09.17.22 at 11:51 am
I used to use Samsung but some years ago I bought a OnePlus 6
(Chinese). The motivation was it could carry dual SIM cards.”
One Plus was second highest on the radiation list behind Motorola Edge
#########$
No worries Flop. I appreciate the feedback.
Actually I wish I’d known a few weeks ago. I recently went through a week of intense radiation at the Tom Baker. I could’ve just duct taped the phone onto my body and saved Alberta health services valuable resources.
Just kidding of course. Cheers mate!

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

You sound upbeat Donnie, so that’s good considering what you’re probably going through.

Apparently my Dad recently succumbed to Multiple Myeloma after fighting it for a few years.

I had some dizzy spells a few months ago, so you know what crossed my mind, I went and got some bloodwork done but it showed no signs of cancer, but it’s probably something I’m going to have to keep a closer eye on in the coming years as I approach 50.

Whatever you’ve got going on, you fight the good fight and stick around for a few more years yet.

O.k I’ll do this joke with no malice, but because it will probably put a smile on your face.

Probably should know better, my Ryan Lewenza Doctors Office joke got page 1 coverage, but I’m a slow learner.

Whenever I go to the Doctor, and they can’t work what’s wrong with me, I simply stop reading Faron’s posts for a few days and I normally start feeling better…

M48BC

#112 Ponzius Pilatus on 09.18.22 at 10:12 pm

#103 AM Radio
PP’s greatest strength is that he’s figured out how to use social media to bypass the legacy media, and they don’t like it.
———————
He’s figured out nothing.
He’s just copying his idol Trump.
And PP will be shut down just like lying Trump.

#113 Ponzius Pilatus on 09.18.22 at 10:14 pm

106 Greg on 09.18.22 at 9:19 pm
Some of these comments sound like Russian bots
———————-
Agree.
Especially those glorifying PP.

#114 Doug t on 09.18.22 at 10:29 pm

“You unlock this door with the key of imagination. Beyond it is another dimension: a dimension of sound, a dimension of sight, a dimension of mind. You’re moving into a land of both shadow and substance, of things and ideas. You’ve just crossed over into… the Twilight Zone.”

RATM

#115 LG on 09.18.22 at 10:32 pm

Jammed airports are maybe due to not having enough boarding gates for the number of planes leaving planes sitting on the tarmac, or maybe slow processing through customs.

Waiting “on hold” for 45 minutes waiting for customer service from a bank is not due to too much demand, but due to a lack of employees taking the calls?

I don’t think these are symptoms of too much demand, but due to not enough infrastructure, not enough employees, or poor productivity.

Signs of mediocrity not prosperity.

#116 Ponzius Pilatus on 09.18.22 at 10:37 pm

#111 Flopinski
Whenever I go to the Doctor, and they can’t work what’s wrong with me, I simply stop reading Faron’s posts for a few days and I normally start feeling better…
—————————-
Flop,
You seem like a nice guy.
So I reluctantly must call you out for this un-called for cheap shot.

#117 Commie bastards on 09.18.22 at 10:45 pm

#112 Ponzius Pilatus on 09.18.22 at 10:12 pm

#103 AM Radio
PP’s greatest strength is that he’s figured out how to use social media to bypass the legacy media, and they don’t like it.
———————
He’s figured out nothing.
He’s just copying his idol Trump.
And PP will be shut down just like lying Trump

—————

Lol they have nothing on PP just like they have nothing on Trump. So if by “shut down” you mean make shit up and let the fake news repeat the lies 24/7, I don’t think that will fly here… But I could be wrong.

#118 Don Guillermo on 09.18.22 at 10:46 pm

#109 A01 on 09.18.22 at 9:55 pm
Evil CBC. Providing balance. Imagine. – Garth
———————————————————–
Does anyone even watch the CBC anymore? Time to shut it down, nobody cares and it’s not protecting anything.
##########
The fact nobody watches CBC isn’t important. The fact we all have to pay for it is. #defundCBC.

Flop, enjoyed the joke. Thanks.

I think I’ve got this. Probably have to put up with my for a while longer.

#119 AM in MN on 09.18.22 at 11:04 pm

#112 Ponzius Pilatus on 09.18.22 at 10:12 pm
#103 AM Radio
PP’s greatest strength is that he’s figured out how to use social media to bypass the legacy media, and they don’t like it.
———————
He’s figured out nothing.

————————————————-

Perhaps you need to take another look at the vote totals from last weekend? An even more insightful detail would be to check out the age demographics of those 300,000.

I’ve listened to a lot of politicians over the years. Most I can’t handle for more than 10min., but I do pay attention to their followings.

It is a short list of Canadian politicians that can hold a rally (not part of another event) that pulls in several thousand. Even less to get the number of 20-somethings that PP did.

Something is going on. It turns out there are a lot of youngins who don’t want poverty and wokeness. They seem to want freedom and prosperity like some of us older folk.

As someone who has worked in basically every heavy industry you can think of that uses electricity and electric motors, I think the only thing you need for the economy to boom is for the boot of Government to come off the throats of those who can make it happen. That includes a sound currency and tax policy for long term planning and a proper allocation of capital.

There’s no perfect candidate, the choice is limited to a few, and I can’t see anyone else out there right now who could deliver on the issues above. I’ve never met him, but he has an extensive public record that anyone can see.

BTW, a quick way to analyze the emptiness of a political argument is when one sees simplistic name calling.

Also, my guess is that is that it won’t take 3 years to find. Jagmeet is on thinner ice than most acknowledge. All it takes is a dozen of his caucus to not want to go down with the Libs and an election is on the way.

#120 Nonplused on 09.18.22 at 11:04 pm

#101 To the point. on 09.18.22 at 8:58 pm

“While it’s tragic to witness the suicide of the once proud Progressive Conservative movement, no amount of yelling “woke” is going to get the Millennials, now the largest segment of the work force, to vote for Republican-style fear and hate.”

Actually, the largest segment of the workforce is going to be “immigrants” and “first generations”, although many of them are millennials. So ya there are some “intersectional immigrant-millennials” too. Got to make sure everyone is properly subdivided.

What’s interesting about immigrants, it would be good if some liberals took a bit of time to talk to them instead of just about them, is that they don’t give a damn about woke. Many of them are fleeing from socialism, not to it. And in the case of Mexicans and South Americans heading to the US, they are largely Catholic, with all that that entails politically.

So the left largely miscalculated when they thought immigration would be good for the left and only the left. It is at best neutral. In places like Texas it’s actually turning out to be good for the right. The center-right anyway.

#121 fishman on 09.18.22 at 11:16 pm

So # 42 the General quotes Hartford Mackinder (father of geopolitics). His thinking summed simply:
He who rules East Europe commands the heartland.
He who commands the heartland commands the World Island (Eurasia/Africa.
He who controls the World Island controls the world.
Of course this was said before the Battle of Midway. We then updated to He who controls the air commands the war. He who commands the war rules the world. And we are now in the process of discovering in the Ukraine. He who controls space will command the war.
By the way Fartzy, Mackinder didn’t stipulate that it had to be the Russians controlling the heartland even though they live there. The Orange Revolution, the overthrow of the pro Russia govt. in 2014 by the CIA was a great strategic error. Those vodka martini toasts Nuland & Freeland drank up in Freeland’s condo overlooking the Maiden get more bitter as the bodies pile up. This isn’t just a proxy war for Nato, Its a proxy war for China. The Great Game is on. Who will control the middle of the board.

#122 Nonplused on 09.18.22 at 11:23 pm

I posted this part separately so Garth can delete it if he deems it too sensitive, but consider this when considering immigration and politics:

Many people are astounded that US politicians have chosen now to reopen the “abortion debate”. Now I am making no attempt in this comment to express an opinion one way or another on the issue itself, but I pose a question: “How do you think Muslims are going to vote?” Or how about Spanish Catholics? I am not able to say one way or another what Asians might think about the issue, but we are friends with one Chinese couple that came to Canada in large part to escape the “one child” policy. Add to this the pretty large conservative Christian demographic that was already part of the Republican base, and I think you can see why this might have been exactly the time to raise the issue, and why the noise on CNN might not be accurately capturing how it is going down with the electorate.

There are eight billion people on this earth – likely double the number when you were born. Not enough for you? – Garth

#123 Doug in London on 09.18.22 at 11:26 pm

@ImGonnaBeSick, post#61:
Going to be sick? It appears you already are as what I said was an intelligent, well thought out comment. As I said, there are many far worse places to live. If you don’t like it here than there are thousands, if not millions, of people who would GLADLY trade places with you. The reality is, as Garth said above, this is something that’s happening everywhere in the world so don’t blame this so called ruling class.

#124 Ponzius Pilatus on 09.18.22 at 11:30 pm

Guess which newly minted leader of the Conservative Party of Canada has a Bachelor of Arts degree?

#125 Inflation on 09.18.22 at 11:38 pm

Justin Trudeau. Sigh. (Shakes head) Tsk tsk. Sigh (like the son of Sylester the cat).

Justin Trudeau? Suffering suckatash!

The Prime Minister who is partially responsible for Justinflation?

The Prime Minister who is overseeing the biggest housing bubble in Canadian history?

I’m disappointed that we have someone with a terrible track record running our country.

Pierre Poilievre plans to make Canadian real estate affordable by building more housing.

Inflation will be stopped in its tracks once I end the money printing and fire the Bank of Canada Governor for his role in exacerbating Justinflation in Canada.

Long ago, politicians like Justin Trudeau would have been publicly excommunicated in the public square and sent packing.

Today, The Conservatives plan is to use the modern method: Vote for Pierre Poilievre and send JT and his Liberal technocrats packing.

Only Pierre Poilievre understands the struggles, anger and frustrations that Justin Trudeau has caused to Canadians. He plans to fix the problems that we currently have and restore a great Canada where everyone can thrive.

#126 Arnie Wrent on 09.19.22 at 12:38 am

“Rightists dividing into us and them? ” How has Pierre done that? To stand against an aggressive incompetence and speak out against the Liberal “Covid Opportunity”, as espoused by the Liberal Party Globalist representatives aka Krysta Freeland, is ‘rightist’? Is opposing political science vs Medical science rightist? Garth, it seems you’re saying that any opposition is rightist, are you sure?

Wasn’t Trudeau just calling protestors names and wondering out loud ‘how can we tolerate them”? Canadians are free citizens around the world were shaken to the core by Trudeaus attacks and false accusations on democratic protestors.

#127 k on 09.19.22 at 12:49 am

You didn’t post my last missive. I thought you were democratic. I am not a steerage dweller and my comments are quite moderate. But “Skippy” is 100 times the man for the times than pathetic Justin “DISASTER” Trudeau. Anti Oil. Mister Woke. Drunken Sailor Spender. I assume I will not be posted again . Garth Turner Leftist Socialist ? I’m betting on a NO POST.

#128 Nonplused on 09.19.22 at 12:58 am

Yet another boondoggle that only the government could create. Private enterprise could never come up with this:

https://mishtalk.com/economics/exploring-the-massive-clean-energy-boondoggle-of-burning-trees-as-carbon-neutral

#129 Faron on 09.19.22 at 1:20 am

#32 Søren Angst on 09.18.22 at 1:44 pm
Will we still be angry?

Somebody hopes so.

——————-

#TrudeauMustGo

1,470 Tweets last hour. Over 460K Tweets thus far

Meaningless Mr. Lava Tubes. You can buy tweets on the dark web for about $10 per thousand. That’s $4600 campaign dollars Peanuts. We live in an era of disinformation. Social media is the worst. I don’t expect you to not fall for it.

#130 Bonobo on 09.19.22 at 1:30 am

Garth, I don’t believe you are a Conservative any longer. Many on this board are Liberal supporters and they have reaped the whirlwind.

The liberals on this board want fiscal conservatism but also probably want abortion up until birth and possibly even after birth if the baby has a birthmark or some other disfigurement.

So sick and tired of this.

I’m so happy that Pepe is hopefully going to be our next prime minister. If that is divisive then I am also happy with that.

You can’t have fiscal conservatism without social conservatism. I don’t understand why you don’t see this. The only other reason is that you are bitter from being kicked out of the party by Harper.

#131 the Jaguar on 09.19.22 at 3:23 am

1:11 am. Covid rapid test negative. Just an annoying head cold keeping poor Jaguar from beauty sleep. Are the comments more interesting in the middle of the night as a result? This one rings true:

‘PP’s greatest strength is that he’s figured out how to use social media to bypass the legacy media, and they don’t like it.’

Am in MN: re “Jagmeet is on thinner ice than most acknowledge.”. I thought rumour was he wanted Horgan’s job? I see him stepping down so he can rule over British Columbia. They hold the NDP in great affection there…

Say Nonplused! Is this for real? ( “It’s sort of like James Randi offering $1 million to anybody who could prove beyond reasonable doubt that they have psychic abilities.”). Do you have Randi’s phone number so I can give him a call? Oh never mind. Guess I’ll give sleep another go….zzzzzzzzzzz

#132 RicardoRich on 09.19.22 at 4:47 am

#24 crowdedelevatorfartz on 09.18.22 at 1:08 pm
@#14 Linda.
“….problem with being a saver is that firmly slots you into the ‘have’ side of things. Evil, evil you – stomping on the disenfranchised spendthrifts with all that money….”

++++
Yep.
I think a crushing recession that spares no one will be the big eye opener.
Living modestly while carrying a big financial stick also helps.
A 7 year old phone that works just fine.
An 8 year old truck that works just fine.
Zero personal debt.
A recession proof business that has no debt.
A large retirement portfolio.
Act poor while waiting for deals.
Evil works for me……..
:)

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

It’s nice you have a free forum to publicly pat yourself on the back. :-)

Unfortunately, it doesn’t change the simple fact that you are massively outnumbered by the “spendthrifts” and guess what? Everyone only gets one vote. (Apparently it’s a feature not a bug of the democratic system.)

Which means you, the careful prudent saver, will have to carry an outsize burden to help make up the slack. Hey, self-righteousness has a price too hahah!

Sorry bout that and thank you for your hard work.

#133 Steven Rowlandson on 09.19.22 at 8:17 am

If inflation was a serious problem the most effective way to quash it would be to cut the real estate market and all government off from all borrowing and in the case of government take away their means of creating the official currency. Put them all on a cash and carry basis and the means of exchange has to come from savings or income.
Then you will see inflation largely go away and the government, their pets and the public face reality.
They will be shrieking from the freaking and oinking from the boinking to quote a character in the periscope down movie.

#134 IHCTD9 on 09.19.22 at 8:30 am

#129 RicardoRich on 09.19.22 at 4:47 am
#24 crowdedelevatorfartz on 09.18.22 at 1:08 pm

It’s nice you have a free forum to publicly pat yourself on the back. :-)

Unfortunately, it doesn’t change the simple fact that you are massively outnumbered by the “spendthrifts” and guess what? Everyone only gets one vote. (Apparently it’s a feature not a bug of the democratic system.)

Which means you, the careful prudent saver, will have to carry an outsize burden to help make up the slack. Hey, self-righteousness has a price too hahah!

Sorry bout that and thank you for your hard work.
_____

Not really, Fartz is closing in on retirement, owns a business, and probably does not need to work 40 hrs a week. That’s a highly malleable situation when it comes to avoiding income taxes.

Others save on the consumption end, avoiding retail taxes, taxes on Labour, and taxes on energy.

Prudent savers learn a thing or two as we travel along.

The spendthrift demographic can do little of either due to stage of life, limited funds and lack of skills.

Besides, our debt is so gargantuan now post-Covid/Trudeau, than one can just quit worrying about the repercussions of carrying it altogether until Canadians have done a tire-smoking 180 with their voting habits. Until then, the song remains the same.

#135 IHCTD9 on 09.19.22 at 8:35 am

#124 Inflation on 09.18.22 at 11:38 pm

Pierre Poilievre plans to make Canadian real estate affordable by building more housing.
______

Seriously, if I hear one more politician say this, I’m gonna puke. It just never happens – NEVER. It’s a proven non-solution (but it sounds good to those who aren’t paying attention).

#136 AM in MN on 09.19.22 at 8:46 am

#128 the Jaguar on 09.19.22 at 3:23 am

Am in MN: re “Jagmeet is on thinner ice than most acknowledge.”. I thought rumour was he wanted Horgan’s job? I see him stepping down so he can rule over British Columbia. They hold the NDP in great affection there…

———————————————-

I doubt Jagmeet can win a general. He is only being discussed because too many in the NDP have figured out what a loser David Eby is going to be, and don’t think he should be anointed.

Also, the NDP still has an old guard of industrial union types in N. Ontario & elsewhere who are not in his camp and would be the ones to pull the plug on him and ruin his career.

The NDP wins after the others (Socred/Lib) screw up. Christy Clark had to go, but the NDP is not a natural governing party in BC.

There is a big political question to be answered out there, and it’s still a toss up.

Christy said NO to LNG extraction and export, and same with oil & pipelines, all in the name of global warming. If the Government decides to go YES, then you have a budget surplus and plenty of money for healthcare and education. It’s the people in the city and suburbs of Vancouver who decide. Note that most of them have never visited the areas where the development takes place, which is farther away from them than Northern California. We’ll see how it goes with Kevin Falcon as the new Premier.

#137 crowdedelevatorfartz on 09.19.22 at 8:53 am

@#121 fishman
“This isn’t just a proxy war for Nato, Its a proxy war for China. The Great Game is on. Who will control the middle of the board.”

++++

Yep
As Chairman Xi prepares to climb the throne for a third time in China ( the only leader to do this since Mao’s reign of error)
China will have a real estate meltdown on his hands and a recession to deal with.
Nothing like a “special military operation” to get the folks at home thinking about something other than their crappy lives.

@#123 PP
“Guess which newly minted leader of the Conservative Party of Canada has a Bachelor of Arts degree?”

+++

Prime Minister material if I ever saw one!

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

@#129 RR
“Unfortunately, it doesn’t change the simple fact that you are massively outnumbered by the “spendthrifts” and guess what? Everyone only gets one vote. (Apparently it’s a feature not a bug of the democratic system.)’
++++
True.
But as the bumper sticker in BC says,
” Don’t blame me I DIDN’t vote NDP”

#138 robert james on 09.19.22 at 8:57 am

UDI Okanagan bringing in real estate experts to discuss local market ,,,, https://www.castanet.net/news/Kelowna/385678/UDI-Okanagan-bringing-in-real-estate-experts-to-discuss-local-market#385678 ,,,,,,,, Pretty funny , the “experts” happen to be real estate shills… lol

#139 ImGonnaBeSick on 09.19.22 at 9:12 am

#122 Doug in London on 09.18.22 at 11:26 pm

Hah.. ok Dougie.. let’s look at that.. what you said is that every couple years, you speak with a person from India, suffering from recency bias, working a part time, minimum wage job. Congratulations on coming out of your bubble every couple years.

I have several Indian born engineers that work for me, that will pay more in personal income taxes than the two you spoke to will make in a year. They are fortunate because they picked the right education and found a great place to work. However, many of their friends are returning home because they cannot make a go of it in Canada, they don’t believe they will ever own a home. Immigrants are leaving Canada. We have had a reduction the past couple years in permanent residence;

“The number of permanent residents who have been in Canada for less than five years declined by four per cent to 1,019,000 by the end of 2020 from 1,060,000 the year before”

https://www.ctvnews.ca/canada/young-immigrants-may-leave-canada-due-to-high-cost-of-living-survey-1.5835140

You also alluded that you think Poilievre is a con man… Well sir, I’d like to introduce to the current boss.

When Trudeau was elected, recall he said Canadian didn’t have $10k to put into TFSAs. His party and the NDP said that the TFSA cost the Treasury too much and there was rampant speculation that they may scrap it altogether… Well guess what, Trudeau spent the Treasury, and then he borrowed every dime he could, and spent that too. All the while saying Canadians weren’t doing enough… He is not the steward of Canada, he is a robber baron.

Mr. Trudeau and supporters will deny he’s a racist, but there is no denying he has a racist past (distant and not so distant) if you recall blackface scandals, “thank you for your donation”, even the fact that he went out surfing on the very first reconciliation day.

He is not a serious man. He brought a known terrorist to India. His recent cabinet placements are jokes. Our Heritage Minister – a professional protester, convicted felons. Our Health Minister during a pandemic – a graphic designer. Our Finance Minister – a journalist that bankrupted her department at Reuters… He has taken more personal days than any prime minister before him.

He supposedly reduced child poverty in Canada, but that was because they changed the definition. Not to mention his interferences with the Justice Department, attempt to dole out billions to a charity that was very good his family, friends and his campaign, invoking the emergency act.

But keep the status quo if you want… But make room in that bubble, because I’m coming over

#140 Bitcoin Bro on 09.19.22 at 9:23 am

Great commentary on this one Garth.

I can definitely sympathize with the criticism of fiscal and monetary policies since 2008 and since the Trudeau liberals came into power.

However it’s unfortunate these valid criticisms are jumbled in the toxic stew of modern extreme political rhetoric. Lots of comments on here fit that bill.

Unfortunately, much like the macro economy, I think it’s going to get worse before it gets better. Dark days are ahead but we’ll get through it. Remember to be kind to one another and have empathy for your fellow citizens regardless of their political opinions.

#141 The joy of steerage on 09.19.22 at 9:31 am

Ontario shop teachers ain’t what they used to be!!

https://www.dailymail.co.uk/news/article-11224383/High-school-defends-transgender-teacher-large-prosthetic-breasts.html

#142 crowdedelevatorfartz on 09.19.22 at 9:37 am

@#136 Am in MN

David Eby is a non photogenic dork but he has more empathy in his left toe than that rictus grinning barracuda Kevin Falcon ever had.

#143 Dharma Bum on 09.19.22 at 9:55 am

#66 Crowdedelevatorfartz

DELETED (Abusive, puerile)
—————————————————————————————————

Congratulations!

You’ve hit the big time.

I’m pretty proud of you.

Someday I hope to come up with a comment derisive enough to warrant Garth taking the time to comment on the reasons for its deletion.

#144 Wrk.dover on 09.19.22 at 10:01 am

There are eight billion people on this earth – likely double the number when you were born. Not enough for you? – Garth
__________________________________

Showing a little less….right now. Wait a few months!

https://www.worldometers.info/world-population/

#145 Wrk.dover on 09.19.22 at 10:13 am

Wife watching a funeral from 5am today, so I slept in the guest house and headed to town to clip a McMuffin coupon this morning. Threw my vest in the trunk, with the keys at the grocery store afterward. No phone in my world.

So I walked over to the highway ramp, sat on the guard rail grinning with thumb out, second car stopped. (the first one was a mil jackass in a Hemi truck, and he nailed it with no eye contact)

We had never crossed paths and met, but after introductions, we both knew who each other was. He took me a few miles beyond his house and right up my driveway.

Where do you people really want to live?

M69NS

#146 Diamond Dog on 09.19.22 at 10:31 am

Excellent piece, Garth. It must be a challenge to try to stir up needed debate only to see comments fall short.

I’m time constrained but have some points to share. It begins at the 4:30 mark of the video below:

https://www.youtube.com/watch?v=IQGU_mxSTwQ&t=1546s

It’s a simple concept. If a central bank creates more money through credit conditions and increases the money supply, we have more money chasing the same number of widgets. In other words, by increasing the money supply you increase demand which gets priced in by higher prices and supply shocks, hence inflation. This isn’t rocket science, it’s principles could be understood with children in preschool that have been taught their numbers, it’s that simple.

Friedman himself outlines the process and the timelines involved with increases/decreases in the money supply below. The entire video is worth a watch, but the 40:30 time mark gets to the heart of it:

https://www.youtube.com/watch?v=B_nGEj8wIP0&t=2585s

Getting back to Powell, he recently said monetary policy is not responsible for inflation which, ok, it’s whopper of a lie. The evidence that reveals this whopper lie is long term record low interest rates coupled with buying MBS’s and treasuries. We saw the result with the everything bubble i.e. housing bubble, stock market bubble, bond market bubble and commodity bubble. It goes back to that Gr. 2 level concept. If you rapidly increase the money supply, prices follow. It takes time, but it does follow.

How soon we forget, the Fed added nearly 5 trillion to it’s balance sheet in 2020 and the U.S. government borrowed 2.5 trillion more. All told, some 8 trillion was added to public debt accounting for a ball park 40% of GDP or 40% of the economy, all newly minted money through the ease of credit.

We hear arguments from Powell like “A lot has changed since Friedman’s day. The money supply increased, but this didn’t cause inflation.” Like I said, we’ve been bald faced lied to. It’s either this, or Powell is clueless and that is unimaginable for the leader of the world’s most powerful central bank.

Another argument we hear is, “Nations the world over were cashing in U.S. bonds and we had to respond.” That explains some of the treasuries that were bought (not to mention U.S. bonds rolling over but I digress), but it does not explain all of them or why the Fed bought 2.45 trillion in MBS’s in 2020. By my count, the U.S. money supply was increased unnecessarily by at least half in 2020. In Canada, it was increased unnecessarily by a third (explaining why I want Trudeau gone. Any PM that does this deserves his walking papers, I give a rats ass who they are.). Derick Holt is absolutely right with what he said, but I wander.

The Fed under Powell kept rates at zero and bought MBS’s to lower 30 year mortgages to below 3%:

https://tradingeconomics.com/united-states/30-year-mortgage-rate

What did we think would happen to the housing market when the Fed does this, or what will happen to stocks, bonds and commodities from the housing wealth effect? (the everything bubble, is what, rapidly increased money supply through credit pops prices) What do we think will happen with demand as a consequence?

Like I said, Powell bald face lied to us to avoid accountability. It’s easy to understand why he did it, it’s not just him that can’t handle or be accountable to the truth but until there is accountability, it becomes tremendously difficult to collectively move on from it or understand the how and why’s to control the damage.

If, for example, it’s true that monetary policy is not responsible for inflation, then why is the Federal reserve finally trying to fix inflation through monetary policy? Hmmm? Why is the Fed attempting to decrease the money supply? What is so important about the word “neutral”?

Over the years, one learns through virtue and experience to criticize the act, not the person, to not get personal. There is a long list of reasons for this but mostly, it gives us a chance to change.

It’s the culture, the behavior or act itself that needs to be most criticized. In this case of high inflation, it’s the culture of greed and lies. What I speak of now, it isn’t understood in elementary, middle, high or even secondary school. We simply value the wrongs things in life, some of what we value in repulsively ugly fashion. Look, just look at how we worship money and how collectively low we’ll stoop to get it. We worship money and all we think it will buy, but it’s lifeless. We worship Cars, houses, portfolio’s, lifeless objects that will never love us back. We worship lifeless creations instead of creators full of life.

What I’m trying to say is, beware of false idols. The world’s environments are degrading specifically because of collective idolatry. It’s consequence is no different in the world of money.

#147 DON on 09.19.22 at 10:43 am

#136 AM in MN on 09.19.22 at 8:46 am
#128 the Jaguar on 09.19.22 at 3:23 am

Am in MN: re “Jagmeet is on thinner ice than most acknowledge.”. I thought rumour was he wanted Horgan’s job? I see him stepping down so he can rule over British Columbia. They hold the NDP in great affection there…

———————————————-

I doubt Jagmeet can win a general. He is only being discussed because too many in the NDP have figured out what a loser David Eby is going to be, and don’t think he should be anointed.

Also, the NDP still has an old guard of industrial union types in N. Ontario & elsewhere who are not in his camp and would be the ones to pull the plug on him and ruin his career.

The NDP wins after the others (Socred/Lib) screw up. Christy Clark had to go, but the NDP is not a natural governing party in BC.

There is a big political question to be answered out there, and it’s still a toss up.

Christy said NO to LNG extraction and export, and same with oil & pipelines, all in the name of global warming. If the Government decides to go YES, then you have a budget surplus and plenty of money for healthcare and education. It’s the people in the city and suburbs of Vancouver who decide. Note that most of them have never visited the areas where the development takes place, which is farther away from them than Northern California. We’ll see how it goes with Kevin Falcon as the new Premier.

*******

What? Do you even live in BC? And if you do…What?

#148 Shawn on 09.19.22 at 11:19 am

Someone bought 30 year U.S. bonds paying 2.0% early this year and now they yield 3.5%. The capital value loss is 28%.

Well, that turned out badly.

It’s been said that “no one buys long term bonds for the interest yield”.

So these were bought to bet that interest rates would fall from 2%?

We they forced to buy them? (In some cases yes — Insurance companies, pension funds following allocation rules, certainly bond funds)

Were they bought for diversification? Not a genius move when bonds and stocks both fall with higher interest rates all else equal.

Bottom line, those long term bonds were really dumb investments at 2%.

If a retail investor would not buy a long term bond for its interest yield, then don’t buy it!

If you do want to bet on the direction of interest rates, apparently there are options on bonds that allow you do that.

#149 DON on 09.19.22 at 11:33 am

#130 Bonobo on 09.19.22 at 1:30 am
Garth, I don’t believe you are a Conservative any longer. Many on this board are Liberal supporters and they have reaped the whirlwind.

The liberals on this board want fiscal conservatism but also probably want abortion up until birth and possibly even after birth if the baby has a birthmark or some other disfigurement.

So sick and tired of this.

I’m so happy that Pepe is hopefully going to be our next prime minister. If that is divisive then I am also happy with that.

You can’t have fiscal conservatism without social conservatism. I don’t understand why you don’t see this. The only other reason is that you are bitter from being kicked out of the party by Harper.

********
Or maybe Garth has years of experience and insight from years of observation and lacks a political bias and tells it as it is.

Thinking any present day leader is gonna fix this mess is laughable. Political parties are just gangs of people harassing the general public with their self interests and mis directions…some are better than others but they are all the same. Look at any parties internal workings and wonder if ask yourselves if they should are the right ones to be the care takers of our baby democracy.

Intelligence seems to be blinded by the red, blue, orange and green spectrums. Geezus. Baby rant over.

#150 Nonplused on 09.19.22 at 11:56 am

#122 Nonplused on 09.18.22 at 11:23 pm

There are eight billion people on this earth – likely double the number when you were born. Not enough for you? – Garth

I was trying really hard not to address the “right or wrong” of either side of the issue, but instead look at how people might vote. It is a classic case of an issue where everyone on each side of the debate thinks that there could be no other opinion besides their own and “evil”. Socialism I suppose would also make a good example but it is not as clearly defined from a religious framework. Or we could look at how the law is unequally applied when dealing with say Jan. 6th protestors and BLM or ANTIFA riots. There are many others. These are just example of cases where it is easier to project our own viewpoints on others than trying to understand what the other people believe and why.

As to the issue itself, I self-identify as a “non-birthing person”, so I try and stay out of it. But having been able to remove myself somewhat from the argument, I have been able to observe others with less bias (although “no bias” is impossible). I would say outside of Europe and North America and the Chinese leadership, support for abortion is near zero, and those are the people who are immigrating. It is going to change the landscape here as well, like it or not. So when you see the left echo chambers discussing it as a surefire political issue that helps the democrats and is political suicide for republicans, it is possible they have miscalculated. Badly.

Your response seems to imply that one must be either “pro-abortion” or “pro-overpopulation”. Well, me and my wives managed to stay well below replacement without resorting to abortion. (Although I suppose I cannot confirm that in my ex-wife’s case.) Therefore I can conclude that abortion is not necessary as a population control mechanism, there are other less controversial methods. But I doubt population control is the driving motive behind the debate, it takes place on a much more personal level, so it is a false dichotomy. It is not “either abortion or overpopulation”.

So, as a self-identified non-birthing person, I am not taking a position on abortion. If I were asked to vote on the issue I would abstain. I think all non-birthing persons should. However as an armchair economist, I will take a position on population that 8 billion people seems to be quite enough given known resource constraints. However that doesn’t mean I would go so far as to start killing them off like Thanos.

But even on the overpopulation question it is easy to project your own views on others. I can assure you that the Pope doesn’t think it is an issue or ever will be. He has a lot of influence, whether we like it or not.

And then there is Darwin. While I and most of my cousins are below replacement, and it is likely our children will be as well, I have 2 cousins who each have so many children that they need a school bus to get them all to church. I’m talking 15+ kids each. They have out-reproduced the rest of the whole extended family combined. They the two of them could have a very successful family reunion even if nobody else came. And you can probably guess that they home school. So yes, I can tell you how the vote is going to go in about 10 years, whether I agree with it or not.

Remember, successful forecasting is about what “will be”, not what “should be”.

#151 dosouth on 09.19.22 at 11:59 am

I was thinking, if all these politicians are throwing money, billions away, why to the people who actually pay taxes. Just IMHO…..

#152 bdwy on 09.19.22 at 12:29 pm

denmark public health system takes a turn from the narrative. damn danish deniers?

https://www.sst.dk/en/english/corona-eng/vaccination-against-covid-19

“Why are people aged under 50 not to be re-vaccinated?

The purpose of the vaccination programme is to prevent severe illness, hospitalisation and death. Therefore, people at the highest risk of becoming severely ill will be offered booster vaccination. The purpose of vaccination is not to prevent infection with covid-19, and people aged under 50 are therefore currently not being offered booster vaccination.

People aged under 50 are generally not at particularly higher risk of becoming severely ill from covid-19. In addition, younger people aged under 50 are well protected against becoming severely ill from covid-19, as a very large number of them have already been vaccinated and have previously been infected with covid-19, and there is consequently good immunity among this part of the population.”

————–
should we tolerate these pastry people?

#153 Dr V on 09.19.22 at 12:44 pm

128 Nonplused

Are you in the FF industry?

Can you make the argument that burning fossil fuels is
carbon neutral? Please state any assumptions or conditions.

#154 the W.O.M.B.A.T. on 09.19.22 at 1:31 pm

I paid 136.9/L of gas in Hanover Ontario today.
Late August of 2005 I paid the identical price while driving between Prince Albert Saskatchewan and Edmonton Alberta. Hurricane Katrina was the culprit. Ironic, I thought at the time as I passed all the huge oil wells along the way.
Wow I thought, as I pulled out of Hanover, the price of gasoline has remained stable for almost 20 years….

Shoulda waited Fred. It’s 135.9 today. That means the price of gas is lower today than it was 20 years ago. Diesel fuel is still 187.9…

#155 Faron on 09.19.22 at 1:42 pm

#136 AM in MN on 09.19.22 at 8:46 am
#128 the Jaguar on 09.19.22 at 3:23 am

I doubt Jagmeet can win a general

wrong country.

#156 bdwy on 09.19.22 at 1:51 pm

O.M.G.

‘Drunk’ Canadian PM Trudeau is slammed as a ‘tone deaf embarrassment’ for singing Queen’s Bohemian Rhapsody at London hotel before Elizabeth II’s state funeral
Wearing a casual t-shirt, Canadian Prime Minister Trudeau was seen standing over a piano during a singalong with other members of his formal delegation at the central London hotel
Trudeau was heard hitting the infamous notes during the jollity, along with lyrics: ‘Easy come, easy go’

https://www.dailymail.co.uk/news/article-11227833/Trudeau-slammed-embarrassment-singing-Bohemian-Rhapsody-days-Queens-funeral.html

#157 crowdedelevatorfartz on 09.19.22 at 3:04 pm

@#143 Dharma
“Someday I hope to come up with a comment derisive enough to warrant Garth taking the time to comment on the reasons for its deletion”

+++
My anti Trudeau rant.

#158 Doug in London on 09.19.22 at 3:17 pm

@ImGonnaBeSick, post #139:
You think Pissed Off Pierre is so smart? You’ve obviously forgotten his complete rubbish talk of saying Canada should have one of those Ponzi scheme crypto currencies. Well, he had holdings in these Ponzi schemes and it backfired when they took a big drop in value. Why ANYONE would even consider such a complete idiot as Prime Minister is TOTALLY beyond me. There’s a sucker born every minute.

It appears you don’t like living here in this country. That’s fine, you can pack up and leave anytime you please. Where do you live? I’ll call you a cab to take you to the airport.

#159 jess on 09.19.22 at 3:27 pm

Pierre Poilievre some background
https://www.desmog.com/climate-disinformation-database/

===============
The too-big-to-fail problem in banking is the unwillingness of regulators to close a large troubled bank because of a belief that the short-term costs of a bank failure are too high. The social costs of this policy are that it encourages banks to get inefficiently large and subsidizes risk taking.1 While the term “too big to fail” was first associated with the well-known bailout of Continental Illinois National Bank and Trust Company in 1984, there were actually several earlier bank bailouts motivated by too-big-to-fail-concerns.2 These were the bailouts of the Bank of the Commonwealth in 1972, Franklin National in 1974, First Pennsylvania in 1980, and the near bailout of Seafirst in 1983.
https://www.clevelandfed.org/newsroom-and-events/publications/economic-commentary/2017-economic-commentaries/ec-201717-origins-of-too-big-to-fail

Lessons from the Financial Crisis
November 06, 2017
William C. Dudley, President and Chief Executive Officer
Remarks at The Economic Club of New York, New York City
https://www.newyorkfed.org/newsevents/speeches/2017/dud171106

#160 jess on 09.19.22 at 4:45 pm

role of pr firms well documented

On September 14, a congressional committee probed the history that PR firms have played in creating and spreading climate disinformation in order to block climate policy and promote fossil fuel interests.

The hearing, held by the U.S. House Natural Resources Committee, Subcommittee Oversight & Investigations, invited several firms, including Singer Associates, Story Partners, and Pac/West Communications. None of them showed up.

https://naturalresources.house.gov/hearings/hybrid-oandi-oversight-hearing_september-14-2022

One PR firm was not at Wednesday’s hearing: FTI Consulting. The House committee is investigating FTI, which has refused to turn over documents requested by the congressional investigators.

“We initiated the subpoena process for FTI Consulting, which has one of the worst reputations in the business. The negotiations are ongoing. The trajectory is sadly not good,” Rep. Katie Porter said in her closing comments on Wednesday. “What are they trying to hide? Is it their creation of fake grassroots groups for their clients to hide behind? Was it the creation of fake social media profiles to track plans of activist groups? Or is there something worse? The harder FTI Consulting fights, the more it appears that they have a lot to lose by having their tactics exposed through oversight.”

She added: “We are just getting started.”

#161 The Guillotine is God on 09.19.22 at 7:18 pm

Agreed…in about a year WFH Rebellion and “Quiet Quitting” will be moot. But rates will be higher, and asset prices lower. Inflation is a policy, not an accident. By 2025 however, things could be ugly here. Why? Because maths will catch up long before then; and politicians hate maths.
You and I must pay for our mistakes, suffer the embarrassment, deal with the consequences, etc.
Politicians? Not so much.

Until….

#162 Bytor the Snow Dog on 09.19.22 at 8:15 pm

Skutchy on the left of me
Bertie in the right
Here I am
Stuck in the middle with you.

#163 Dharma Bum on 09.20.22 at 8:52 am

#157 Crowdie

My anti Trudeau rant.
———————————————————————————————————-

Trust me; I am so with you on that!

3 more years. Arghhhhhhhhh. The horror.

#164 alex on 09.20.22 at 12:48 pm

DELETED