Droppings

Yesterday we slogged through the quagmire of political polarization. Now we’re all muddy. More on that in a minute, but first a reminder of what this blog has been telling you (for years) about too much maple in your diet.

There’s a reason we suggested you keep a quarter or a third of a portfolio in US$-denominated assets. This is it. To hedge against a currency that’s dependent upon commodity prices and in a country representing just 3% of world markets.

Have you noticed the loonie lately? It’s looking mighty skinny at less than 73-cents American, down a dime in a year. Meanwhile the greenback has surged, turning the British pound into Kleenex and sending shivers through emerging economies with oodles of US$ debt to service. So ETFs held in Yankee dollars will pay fatter dividends and capital gains and help wipe away some of the sting everybody’s feeling in their accounts.

Will the loonie drift lower still? It’s possible. Even likely. So, hopefully, you did the right thing.

$     $     $

Remember the convo we had recently about whether our Big Banks are safe, and the potential of a failure at one of them? We explained what a bail-in is, how one would work, why all deposits and personal assets would be safe, and the fact it ain’t gonna happen.

Face it: the banks are the economy. They’re everywhere, in all facets of life. If one of them staggers, we’re all going over the edge. But, as mentioned, you will never see this. And, as it turns out, you can even profit from a no-crash reality.

Example: bail-in debt. In the case of a (not-ever-to-occur) failure, this security would be converted into common equity in the bank, helping finance its recovery – as opposed to a ‘bail-out’ by taxpayers. Because it carries nominally more risk, it pays well. BMO’s new bail-in debt, for example, gives 5%, rising to 5.2% over two years. It’s callable, plus you end up with a fistful of share certificates should the bank collapse. Never.

$     $     $

Steve Saretsky is a rockstar realtor from Van. He blogs, tweets, vlogs, publishes, snorfles up media opps and never met an interview request he disliked. He says he’s an authority on the market and its direction. Here’s the latest salvo. Judge for yourself.

The wheels are in motion for a deepening housing correction. This is exactly what the Fed wants, but once it starts how do you stop it? Of course the same dilemma can be applied to Canada, only worse. Not that you need reminding but our household debt levels are much higher, house price to income ratios are worse, and we don’t have fixed rate mortgages for 30 years. There’s a lot more interest rate sensitivity up North…

I remain of the view that housing is much weaker than policy makers are aware of. The knock-on effects are also likely to be deeper than we are being led to believe. The gap between what sellers are asking and what buyers are willing to pay continues to widen. In other words, liquidity is getting worse…

Saretsky (and others) hint Ottawa will buckle and ‘do something’ to stem the flow of homeowner blood down the gutters of Bunnypatch. Maybe allow renewers to re-amortize their mortgages – pushing out repayment to keep payments low – or deep-six the stress test. As we reported, however, the bank regulator says that change is not happening. The test exists to protect the banks. Not the borrower. After all, we know who’s more important

$    $     $

Sometimes this pathetic blog needs to be picked up by the scruff, drooled upon and shaken mercilessly. Like now. Yesterday’s comment section was a new low. And you didn’t even see the trash talk I ghosted.

Sure, politics is a divisive thing. We are a polarized people. The times are growing darker and people are stressed. As the left and the right rip each other a new one, millions of people – the majority, maybe – feel abandoned and powerless in the middle, forced to choose between the woke and the wacky.

But that doesn’t excuse the vitriol and aggression displayed after the last post. Or the email I woke up to this morning.

This is a free blog. Always fresh content. Researched and carefully written. I don’t need to do this every day. Nor expose my colleagues, who contribute with me, to abuse and ignorance. There’s no excuse for the tone and virulence of words seen yesterday. It’s a discussion, not a war. Without compromise by everyone, and civility, we’re screwed.

You are testing me.

About the picture: “I am a reader of yours from all the way back in the mid-nineties,” writes Rich, “when your newsletter would be mailed to my parents’ house. Pictured is our 12 year old tuxedo cat, Prada, who is on guard constantly chasing chipmunks in the backyard at our home Dundas, ON. Keep up the great work and we thoroughly enjoy reading the blog and listening in on the Tuesday calls.”

310 comments ↓

#1 Old Boot on 09.27.22 at 2:45 pm

DELETED (Not a gender identity blog)

#2 Søren Angst on 09.27.22 at 2:46 pm

Oh Garth.

No words, not even outrage adequate.

And uses a Stoic as an email handle.

————-

Chin up My Liege.

#3 Ian on 09.27.22 at 2:49 pm

Hi Garth, I rarely post. You have offered a forum for both information & discussion, I appreciate it. Awful that you have to read such garbage; from someone who hides behind a fake name / secondary email address.

I would pay for a subscription should you wish to change your model;

#4 Rainman on 09.27.22 at 2:51 pm

Hey Garth – I know it’s a blog, but maybe just turn it into a post without comments. The good readers would still be here. No sense going through a bunch of abuse from the minority? Thanks for your good work!

#5 Søren Angst on 09.27.22 at 2:52 pm

The test exists to protect the banks. Not the borrower. After all, we know who’s more important

-Garth

—————–

Agree. And they are not doing so well.

All 5 of the Big Bank stocks nose diving YTD:

https://www.google.com/finance/quote/BNS:TSE?comparison=TSE%3ATD%2CTSE%3ACM%2CTSE%3ARY%2CTSE%3ABMO&window=YTD

And ya, enjoy raking in more $ dividends from my US ETN. A nice double entendre cash wise for me.

#6 active on 09.27.22 at 2:52 pm

sorry you have to read stuff like that Garth. What vile people out there.

#7 I’m stupid on 09.27.22 at 2:55 pm

Mattamy home sent a letter to all employees saying because of current market conditions they are closing all sales centres. This is the same story being repeated over and over. So it just a matter of time until the tradesmen start to feel the pinch.

#8 Dave on 09.27.22 at 2:59 pm

Inflation is about to get a whole lot worse…..Russia will annex eastern Ukraine….war will get blooder.

Winter is getting colder and the EU will buckle…Sh*t is hitting the fan.

Real Estate will crash and implode…..buckle up

#9 Melinda on 09.27.22 at 3:02 pm

I say: Do the world a favour, Garth, and run for prime minister.

Thank you very much for this free blog and all the good advice. Please stay away from window jumping.

#10 yikes on 09.27.22 at 3:03 pm

It’s a shame the trolls can get away with these emails. And they feel pretty empowered for a while after clicking send.

Social Media / soapboxes without consequences feeds craziness like January 6th.

#11 Victor Llearna on 09.27.22 at 3:06 pm

Maybe Marcus Aurelius is actually angry pony tail bicycle guy. Hopefully one day someone teaches Pony Tail a lesson he never forgets.

#12 mitzerboyakaQueencitykidd on 09.27.22 at 3:06 pm

Dogs are great
beer is good

marcus needs to be taken out behind the woodshed and taught some manners.

#13 TheDood on 09.27.22 at 3:08 pm

Quite unbelievable that free words spoken drive someone to a reply like that one. ‘Weak mental capacity’ is the expression that comes to mind.

Not sure what else to say…….

#14 Jorge on 09.27.22 at 3:08 pm

It is sad to see how, what in other times would have been a polite discussion, or disagreement, has become a poisonous attitude to try to intimidate people with different ideas, and shut down any possibility of conversation, of examining the facts, and of changing our own position, which is really how we grow. Just give thanks you are not a woman, or a racialized woman, for that matter. They get it far worse than what you showed.

#15 Puzni on 09.27.22 at 3:09 pm

What a disrespectful comment. Sorry Garth. Thanks for writing Garth.

#16 Tip on 09.27.22 at 3:11 pm

The government might print more money to pay for the over indebted FOMO couples.
As Adam Vaughan once proclaimed. He will never let Canadian real estate collapse. Too big to fail. They world even crash the Loonie if it means protecting the real estate bubble.

He did not say that. – Garth

#17 Scott in Gibsons on 09.27.22 at 3:12 pm

Remember that time you admitted you were wrong? Me neither. Probably better to just shut down the blog and blame the commenters. Lol

#18 Søren Angst on 09.27.22 at 3:12 pm

Looks like me and Il Bel Paese will not freeze this Winter.

Italia dependence on Russian Nat Gas:

2021 = 40%
June 2022 = 25%
Sep 2022 = 10%

https://www.bloomberg.com/news/articles/2022-09-27/italy-secures-enough-supplies-for-winter-without-gas-from-russia

Good. Soon, no more nat gas €’s for you Putin from Italia.

Slava Ukraini.

#19 CL on 09.27.22 at 3:13 pm

I’ve never seen Canada, people in general, so divided and hateful towards each other. But seeing divisive politics these days, everywhere by all parties, pandemic debacles and now inflation, it is also not surprising. It’s not only that people are simply angry, they’re emboldened in various fashions to be so.

#20 sm_yyc on 09.27.22 at 3:14 pm

Hi Garth – i cant thank you enough for the service you are doing educating all of us on personal finance. i have been following your blog for over 11 years and occasionally comment. The comment you highlighted is unacceptable and is an attempt to bring you down. Most people are leveraged up to the tits and any opinion about raised interest rates and RE values coming down works them up. Know that whatever you do, there will always be people like these and this should not stop you from doing what you are doing. As an aside i would suggest again that you use discus to moderate your comments or use a federated option for people to use their social media logins to be able to comment. The way you have it setup currently, users can leave comments anonymously.

#21 Linda on 09.27.22 at 3:16 pm

I’d happily hire Prada to chase the squirrels who visit our garden! I’m fairly sanguine about wildlife, but object to said squirrels digging up our freshly planted bulbs:)

Garth, kudos for all you do. Sadly, a lack of civility is prevalent on the internet. Anonymity is used to act in ways the person doing so would object to strenuously if applied to them. Even face to face encounters are less than civil, as you are well aware. All any of us can do is to try to act with civility & avoid these nasty folks wherever possible.

As for the markets, have to say 2022 has not been the most positive year overall. Thus far pretty much every rally has been offset by another ruction. On the plus side, today was sunny & warm & some flowers are still blooming in the garden. Focus on the good!

#22 young & foolish on 09.27.22 at 3:17 pm

Sorry to hear about the abuse Garth …. on the other hand, many support you!

Question regarding US-denominated ETFs …. does this or not include hedged to Canadian dollars (i.e. VSP.T)?

#23 Nonplused on 09.27.22 at 3:20 pm

Well, this puts “quiet quitting” in perspective. Turns out it was just fake news the whole time.

https://babylonbee.com/news/employee-having-trouble-quiet-quitting-because-he-was-so-lazy-to-begin-with?utm_source=The%20Babylon%20Bee%20Newsletter&utm_medium=email

And of course the lefty response to the Italian elections:

“With the election of right-wing candidate Giorgia Meloni as Italy’s first female Prime Minister, the Left has announced they no longer support strong, independent women.”

https://babylonbee.com/news/leftists-announce-they-no-longer-support-strong-independent-women?utm_source=The%20Babylon%20Bee%20Newsletter&utm_medium=email

Sometimes humor is the only way to discuss all the things because the discourse has become too ridiculous to be approached any other way.

In other news (real news, not the Bee), plural marriage now ok in New York (yes, New York, not Utah):

https://www.zerohedge.com/news/2022-09-26/plural-marriage-recognized-new-york-under-key-precedent

Personally I don’t know anyone who can successfully manage one wife, left alone two, but hey, not my problem. Unless you count ex’s. And then, whew.

—————————————

Ultimately, the key difference between the right and the left comes down to the difference between systems (rules) and goals (or objectives).

People who prefer systems are rules based, prefer incremental change and a lot of testing, are conservative, and skeptical. They like to stick with what works. They believe every individual has to follow the rules and pull their own weight or the group system is threatened. They are afraid of the “slippery slope”. They fear consequences. Consequences are a part of nature as defined by natural law. “If it ain’t broke, don’t fix it” defines this group. This is your right wing.

People who are goals (objectives) based are idealistic, unconcerned with “how”, and willing to take larger risks. They generally view rules as something “made to be broken” for the greater good or for freedom of expression. They believe individuals are not bound by any group rules that restrict their personal goals. They think the “slippery slope”, if it exists at all, is something you do at frat parties. They do not believe in consequences. Or to the extent they do, consequences are just “the man” enforcing arbitrary rules. “The ends justify the means” defines this group. This is your left wing.

A good way to think of it is the question of poverty. Both the left and the right are equally in favor of reducing poverty, where they differ is in the question of “how”. The left thinks government intervention is the solution. The right thinks the answer is in personal initiative. The left thinks you can spend people out of poverty. The right wonders how and who will be expected to pay for that. Both acknowledge that all previous efforts have failed. The left wants to double down on the new thing that didn’t work. The right wants to revert back to the old thing that also didn’t work.

The center, when there was one, consisted of sticking with the proven system (right) but allowing incremental experimentation (left) to see if it could be improved over time. Their position is one of “appeasement”. Some of the same, some changes. They have no set systems and no set goals, but will adapt either as it suits them. They are not afraid of the “slippery slope”, believing if the angle isn’t too steep the decent can be managed. They believe that consequences can be ameliorated to affect human behavior, but there is no universal cause and affect in nature. These are your centrists.

If you like analogies, you can think of it this way: The right thinks that if you eat too many cookies you’ll get fat. The left thinks they should be able to eat unlimited amounts of cookies. The centrist doesn’t care how many damn cookies the kid eats or how fat he gets, as long as everyone shuts up so he can watch the game.

#24 Gr on 09.27.22 at 3:21 pm

Hi Garth,

Thanks for your “Free” blog!!
As my Grandmother might have said, wising you and Dorothy, good health, good happiness and lots of love.

Sorry to hear you are dealing with the likes of MA. Sound like they have some terrible wiring issue that they should look into getting fixed if at all possible or have looked at, and also take a good looking in the bathroom mirror before typing another thing.
They seems to owe you an apology at a minimum, but I wouldn’t hold my breath waiting for one. But you never know.

I think someone once said something like, why can’t we all just get along. And try loving each other more.
I wise there was a quick fix, but I’m not smart enough to figure one out, but that doesn’t mean one should not try too, even try a little bit.

I almost mentioned x22 report take on world events from yesterday as it seems to cover similar things you did but from another view point, but then it’s just another option after all LOL

#25 ogdoad on 09.27.22 at 3:24 pm

Do you actually use content from some of the commenters for blog ideas? You haven’t written about the affect of a hug on a B&D portfolio yet (I’m a little hurt). The comments must be entertaining to you – for that you’re welcome!

#26 crowdedelevatorfartz on 09.27.22 at 3:27 pm

silentpoet226?
More like anonymous, spineless troll.

#27 Donald on 09.27.22 at 3:31 pm

Don’t understand the continued value of a comment section. Civility is at risk! Marcus and those of his ilk should seek mental health support to deal with their anger and virulence.

#28 baloney Sandwitch on 09.27.22 at 3:35 pm

Thanks for your (& team) daily missives Garth and the voice of reason. It helps me keep an even keel in these trying times. Who knows what is going on through that loser’s mind who wrote such an ugly email. Maybe, he thought trees can grow to the sky and wants to shoot the messenger who said, “no they don’t, and I told you so.”

#29 To the point. on 09.27.22 at 3:35 pm

Garth,

Thank you for revealing just how UGLY looks. People should try looking in the mirror. Do you see hard eyes? A down-turned mouth? Does that mouth ever use the verb “hate”? Ask yourself why you look that way, talk that way, think that way. Think about that.

You are stronger and smarter if you try to understand where the other guy is coming from. It’s called empathy. Everyone is not out to get you. In fact, everyone could be your brother.

#30 alexinvestor on 09.27.22 at 3:37 pm

Problem is, there’s no big housing crash (say 40%) that also doesn’t crash the banks. If you take a look at CIBC’s loans, over 60% of that is mortgages. If they have write down even 15% of the mortgages, CIBC is toast. When push comes to shove, I think the regulators will have to extend mortgages. Didn’t BOC say they weren’t going to raise rates until 2024 … oops.

As for BoM’s bail-in debt, err … no. That’s like picking up pennies in front of a steamroller. Maybe it works out, or maybe you get 50 cents on the dollar once BoM issues even more shares.

Most bank mortgages are insured. For 15% of Canadians to default on their mortgages you would need a situation far worse than the 1930s (the default rate then was 1.3%). Not happening. No bank will fail. – Garth

#31 Søren Angst on 09.27.22 at 3:37 pm

Nord Stream 2 pipeline sabotaged in Baltic Sea.

Danes picked up underwater seismic explosions.
https://www.telegraaf.nl/nieuws/865233704/zweedse-seismische-dienst-krachtige-ontploffingen-gemeten-bij-nord-stream

Lots of trouble
Lots of bubble
Double, double toil and trouble

Thread includes juicy conspiracy stuff like Ruskie subs.
https://twitter.com/CovertShores/status/1574750260743880710

[bubble 800 m across]

My favorite conspiracy theory so far:
https://twitter.com/Der_Postillon/status/1574777122631073793

——————

Welcome to Europa. Have a nice day. 👋

#32 IHCTD9 on 09.27.22 at 3:40 pm

Marcus needs a good ass-kicking.

A good life skill is learning to be the guy who decides if you get mad or not – instead of someone else being that guy. We see a handful of dogs here regularly getting triggered and lashing out in anger – some with a fervor that suggests a visit to a psychiatrist is in order.

“Any person capable of angering you becomes your master; he can anger you only when you permit yourself to be disturbed by him.”

― Epictetus

“You can’t bend, what you can’t offend”

– Dyslexic Smoking Man

And like I said yesterday, We collectively are headed towards a Type 1 Civilization. If the forces that would resist this destiny are willing to kill in order to remain confined to Nations and trading blocks – then we’re simply doomed.

Give a listen to a very smart dude:

https://www.youtube.com/watch?v=7NPC47qMJVg

#33 UmiouiuS on 09.27.22 at 3:40 pm

Garth, am so sorry that you have to put up with venomous comments, such as the one shown. Horrific.

I feel we were so lucky to be raised in different times, when we were taught to respect others and we were held accountable to both our words and our actions.

In lieu of any legal pursuit of his anonymous brazenry, here’s hoping that Mr. Aurelius accounts to Mr. Karma.

#34 Chris on 09.27.22 at 3:41 pm

Always enjoy the blog Garth – keep it up! Your views are balanced and you’ve always stayed true. Thank you.

#35 Brian on 09.27.22 at 3:41 pm

Garth, I may not agree with some of your political or medical views but I find it disgusting with some of the posts who have to cull through as noted in your post. It’s fine to debate either side of an argument but personel attacks are off limits. Your calls on this housing and debt mess has been spot on. Been following Sarestky for awhile but I think he is off on the Liberal/NDP buckling, we must protect the Too Big to Fail Banks at all costs.

#36 The General on 09.27.22 at 3:42 pm

Dear Garth: You’re an outstanding Canadian, and might I say loved by many. The comment sickened me. I back you 100% if you decide to hang up your spurs on this blog. Take care.

#37 dmw on 09.27.22 at 3:42 pm

Agree with Rainman, in post # 4 above.
Most readers read your blog to hear your opinion, so I think it’s ok to turn off the comments section.
Or
1.) charge a fee to post in the comments section ,
Or
2) only allow readers whose identities have been verified to post comments.

#38 Bob on 09.27.22 at 3:43 pm

As an aside i would suggest again that you use discus to moderate your comments or use a federated option for people to use their social media logins to be able to comment. The way you have it setup currently, users can leave comments anonymously.

Anonymity is necessarily for our protection. Given that everything you post to the internet is semi-permanent, posting anything under your real name is risky. Ill considered (or even well considered) remarks can come back to haunt you. (That’s especially true for us working age folks.)

Besides, removal of anonymity doesn’t do much to remove the vitriol. (Just see the National Post comment section for an example.) The real problem is that people are built for face-to-face communication. It’s all to easy to type something you would never say to someone’s face.

One simple thing that might actually help (a little) is if Garth added a smiling picture of himself next to the comment box. (Seriously.)

#39 Tony on 09.27.22 at 3:45 pm

why all deposits and personal assets would be safe?

The idea of a bail-in is waving bye-bye to your money if you’re over the CDIC limit. They keep the amount insured low on purpose.

Wrong. Your money is not the bank’s money and cannot be used in recapitalization. – Garth

#40 Nonplused on 09.27.22 at 3:45 pm

“But that doesn’t excuse the vitriol and aggression displayed after the last post. Or the email I woke up to this morning.”

Unfortunate, but not surprising. Anonymous too, I note. At least you are not a kid, they also get exposed to this kind of vitriol both online and IRL. Anyone who’s hung out at the hockey arena can tell you all about it. It obviously hurts.

What to do about it? If you shut down the blog or close the comments section, they win. Even by publishing it they probably got more attention than they deserve, which they would consider a win. I’d say the best thing to do is remember the milk doesn’t get made without there also being a lot of shit, and hit delete.

Oh and for those who keep arguing with me about 50% of the population being below average intelligence, and half of them being even dumber than that, I give you this to consider.

#41 Blobby on 09.27.22 at 3:49 pm

I like skimming thru the comments, looking for Garths answers to people.

Sometimes people post the same Questions as Im asking/wondering. Helps to fill in my knowledge gaps.

I try to skim past the PP/Trump fans. I get enough of that nonsense when I talk to my family.

#42 Franco on 09.27.22 at 3:51 pm

We are all living in sad and dark times and it’s a small possibility that the destruction of civilization as we know it could come crashing down, due to the madmen Putin, I sure hope that there a lot of behind the scene talks going on and that saner heads will prevail.

#43 Doing my Part on 09.27.22 at 3:51 pm

When you can trash talk people from your mom’s basement anonymously, the dumbest and most cowardly, ignorant people let fly.
These people should put some pants on and try bringing that vitriol into the light of day and see how long they last.

#44 TurnerNation on 09.27.22 at 3:51 pm

Ah this hectoring, dogmatic weblog!

— Another day in the Former First World Countries. Trust the science! As our global rulers dial us back to the stone ages, serfs.

https://www.ctvnews.ca/world/lights-out-ovens-off-europe-preps-for-winter-energy-crisis-1.6084162
“We can’t turn off the lights and make our guests sit in the dark,” said Richard Kovacs, business development manager for Hungarian burger chain Zing Burger. The restaurants already run the grills no more than necessary and use motion detectors to turn off lights in storage, with some stores facing a 750% increase in electricity bills since the beginning of the year.

—— Our rulers play The Long Game. Which is why in 2019 T2s Soma became legal. Turn on, Tune in and Drop out.
They’ll stone you just like they said they would. A new generation of passive tax slave dolts.
‘Smoking in the Boy’s room’?

https://www.cbc.ca/news/canada/toronto/vaping-school-bathroom-scarborough-1.6593952
However, even with youth smoking at an all-time low, he says, there has been a large increase in the number of teens who vape.
“We have about one per cent of high school students who smoke cigarettes,” said Hammond.
“There’s about 15 per cent that vape.”
She says the recent ubiquity of vape products and the assumption that vaping is a healthier option has made people think it’s okay.
“It’s at every school,” Mudry said. “That’s just where people go to vape — the bathroom.”

#45 Patricia on 09.27.22 at 3:52 pm

Who, over the age of twelve goes after a person’s family member.
It made me think of kids playing in a schoolyard saying:
Na na na booboo – i bet your mother wears army boots.

Can the comment section Garth. The intelligent ones will continue to read it.

#46 Ole Doberman on 09.27.22 at 3:52 pm

Social media made you all way to comfortable with disrespecting people and not getting punched in the face for it.

-Mike Tyson

#47 Brett in Calgary on 09.27.22 at 3:53 pm

Anonymous keyboard warriors… brave as long as no one knows who they are.

I respect different political views and naturally I don’t agree with everything said here. I also realize how much I pay daily for this content. Your pony, your show Garth.

#48 Sail Away on 09.27.22 at 3:53 pm

My wife wanted another cat.

I didn’t want another cat, so we compromised and got another cat.

#49 BitcoinBro on 09.27.22 at 3:53 pm

A year ago I would have chalked a message like that up to a foreign state sponsored troll. Unfortunately, I’ve witnessed similar vitriol in the flesh over the past year. It’s very sad and concerning. “Empathy is the medicine this world needs”

#50 Jason on 09.27.22 at 3:54 pm

Political polarization is just common horrific tribalism by another name. While tribalism served a purpose in our evolutionary past, it is an ancient relic and tightly clasped by the highly ignorant.

If the left is the community, and the right is the individual, why would anybody think either of those is worth fighting against? Both are equally important and worth fighting for.

#51 PC on 09.27.22 at 3:54 pm

Sorry you had to get a message like that. Disgusting. Get rid of the comments section. It’s not worth any stress it might be giving you. We all come here for your words (as well as Tatianas, Ryans, Doug and Sinans), not whatever’s posted beneath them.

Reddit and twitter probably banned them, so they’re here

#52 Søren Angst on 09.27.22 at 3:56 pm

#21 Linda

Bulbs. Squirrels.

————–

I feel you as a former hardcore Gardener way back when.

My solution:

1. Chicken wire over where the bulbs are buried, nail it down.
2. Buy a BIG container of pepper and sprinkle more than liberally over the bulb area.

Did that on my Daff beds in Trauma. The worst you will see is 1 paw scratch/dig attempt between the Chicken Wire and that’s it.

Replenish pepper if you see 2 scratch/dig attempts.

Daffs know what to do in Spring.

Many disgruntled local squirrels. Et voila.

#53 Kootenay Dave on 09.27.22 at 3:56 pm

What a low-life loser, thanks for your blog Garth.

In terms of holding a portion of your portfolio in USDs, how do you get around the banks taking approx. 2.5 cents (retail vs. wholesale rate) when converting to USDs, and then another 2.5 cents when you eventually sell and convert back to CAD?

#54 NOSTRADAMUS on 09.27.22 at 3:57 pm

A HIGH PITCHED SOPRANO.
Tenants from hell can be a black box for property owners. You can’t kick them out for missed rental payments, especially when you have had enough and you try to sell your investment property. Try going to your banker to explain to mortgage officer Bob that you are having trouble making your mortgage payments due to a lack of incoming rental cash flow. You have all heard of the Heimlich maneuver and how it can be a life saver. Well, the banker Bob uses a slightly different Heimlich technique in order to get you to cough up the outstanding cash. Bob will take you back to a very private soundproof room designated for deadbeats, and apply short powerful up thrusts to your Ba*ls. Before too long you are ready to sell your first born child in order to come up with the outstanding cash. This may sound barbaric and BS, however if you are lucky enough to meet and talk to me, you will remember me as the man with the high pitched soprano voice. A harsh verdict perhaps, but that’s what I really believe. Are you not entertained???

#55 Anne in NVan on 09.27.22 at 3:58 pm

Garth, your Blog is a lifeline for so many, especially me. THANK YOU, THANK YOU!
Your information is a lifeline for so many of us, your info helps keep us calm in this stressful world.
Blessings to you and Dorothy.

#56 WTF on 09.27.22 at 3:58 pm

Marcus the insignificant. Most likely your ‘jump” would be up (out of Moms basement window).

Buddy a realtor in Van mentioned yesterday, crickets. over 30 yrs in the biz, joked no more list Thurs take offers Sunday nite. Gonna have to put in effort now.

Got 25% US denominated but That Fla Az CA HI holiday just got ugly this winter. No thanks

#57 TurnerNation on 09.27.22 at 4:01 pm

BNS.TO yield almost 6.5% surely a sign from the hevens to buy?

Would be a bad day to be named Marcus A….. With a pack of feral blog dogs on the trail. (Or to have a pony tail).

I kid you not this is what I witnessed on the weekend.
Two cyclists swerving around each other at low speed.
One kept going and yelled, to the other “Sorry muthaf___ker” — and HE HAD a PONY TAIL.
T’was not near our forum host’s prefecture but within a 20 min. cycle.
Aggressive Pony Tailers mounted on bikes. This city’s #1 menace.

#58 Nonplused on 09.27.22 at 4:03 pm

#17 Scott in Gibsons on 09.27.22 at 3:12 pm

“Remember that time you admitted you were wrong? Me neither. Probably better to just shut down the blog and blame the commenters. Lol”

Garth, save this guy’s email. “silentpoet” may have just outed himself.

It’s not a contest folks. Even if Garth errs from time to time, it is the general guidance and evolution of the conversation that is edifying. It’s not about who’s “right” and who’s “wrong”. The only scorecard is your personal bank account, and on that account it’s like golf: in theory you are only playing yourself.

#59 Overheardyou on 09.27.22 at 4:04 pm

Guy doesn’t even have the balls to use his real name.

Get a life or a job if you don’t have one. Oh and learn to respect your elders.

#60 the Jaguar on 09.27.22 at 4:08 pm

That Dorothy’s name was included is an indication that the person who posted has followed the blog for a period of time. All the more odious and the very definition of cowardice.
A person that sends an email like that is the lowest form of life on the planet. Not even worthy of pity. Wish I could introduce him to my friend Smith & Wesson, Model 49.

#61 Bill zufelt on 09.27.22 at 4:11 pm

The UK is doing the right thing and Canada will watch and follow.Debt and dependency is not a plan and never say never…any bank anywhere,anytime could be in trouble especially the way Canada is going.Cutting taxes,reducing the bureaucracy and getting productive again will ensure our banks are safe but not before.

#62 cuke and tomato picker on 09.27.22 at 4:12 pm

Just terrible a person has the right to disagree but does
not have the right to say anything anything
so mean. Just keep doing what you are doing Garth you
have many loyal respectful FOLLOWERS.

#63 crowdedelevatorfartz on 09.27.22 at 4:13 pm

A Tsunami of Cancer looming in BC.

https://vancouver.citynews.ca/2022/09/27/bc-patients-radiology-wait/

100,000’s of thousands of cancer patients waiting for tests or to see specialists.

#64 roofer on 09.27.22 at 4:14 pm

CDIC – noticed a huge uptick in commercials in Canadian media. This is plain propaganda in possibly forthcoming in what is about to happen? I suspect a bank will go under (CIBC?) in the near future. I think there is something like $50 per Canadian (NOT $100,000) in their reserves to cover Canadians.

Wrong on all counts. Stick with roofing. – Garth

#65 G Unit on 09.27.22 at 4:14 pm

Garth,

I’m sorry you experienced that. No one deserves that. Remember that the vast majority of your readers follow you because we respect what you have to say. Don’t let the bastards get you down.

I’ve been following your blog for years, and have benefitted by your insight on all matters financial and real estate. I’m extremely grateful for your tireless efforts to educate Canadians, and I feel the country owes you a debt of gratitude for this.

At the same time, and with my deepest respect, I’ve never found your political commentary particularly insightful. It also often seems that you receive the most intense vitriol when you wax political. Why bother “going there” if you don’t have to?

All the best!

G

#66 Faron on 09.27.22 at 4:15 pm

Sorry to hear this Garth. As one who regularly challenges the further righties and the local canivore this sounds familiar.

#67 Love_The_Cottage on 09.27.22 at 4:15 pm

How many times have you threatened to shut down the comments, yet you don’t force people to register to comment or filter only to finance related comments.

There is no excuse for that email but if you keep doing the same thing you’ll keep getting the same results.

Oh, my fault. – Garth

#68 PeterfromCalgary on 09.27.22 at 4:21 pm

With the important exception of consumption taxes tax cuts are inflationary because they increase the supply of money tax payers have to spend on a limited amount of goods and services. Increased government spending is also inflationary.

That is not to say tax cuts are bad. In times of deflation or bad recession tax cuts can do a lot of good. Government spending can also help a recession but as a Conservative I prefer tax cuts.

Liz Truss is cutting taxes in Britain and the fear that tax cuts will increase an already high inflation rate is devaluing the British Pound. I realize criticizing tax cuts will hurt my Conservative street cred but these are unique times.

#69 Adam Smith on 09.27.22 at 4:30 pm

Sorry you have to put up with that Garth. Unfortunately not a lot the normal people can do to prevent it. Just keep in mind that whenever you help people achieve a decent financial future, you are ensuring they probably won’t become a POS like that.

#70 Willinsc on 09.27.22 at 4:37 pm

“silent poet” is neither. I believe in free speech and civil discussion. We need to fight the extremist polarity taking over this country. The only consolation is “loudly lacking poetry” appears to be such a loser he will probably self destruct. I also believe few would miss the comment section if losing it would keep the blog going. Best wishes to you all and thanks for all your help.

#71 Adam on 09.27.22 at 4:40 pm

Sad but not surprised. Of course I am sure the person who sent it did so anonymously. They would never say that to your face.

I don’t know if the world has ever been more hateful than it is now. These are confusing times. I always considered myself a bleeding heart left wing liberal. Now, some people call me a right wing extremist. I feel like my beliefs haven’t changed, and I’ve been “pushed to the right”. But others might say I have failed to evolve with the times. Either way, I feel (like many) that I have been forced to pick a side and I don’t want to. I don’t know how we got to a point where simply saying something like “The US should enforce it’s immigration laws” makes you a racist and an extremist, but that’s where we are. Likewise, on the left side, saying something like “I think we should teach children in schools about pronouns” makes you a pedophile and rapist. Both sides are completely ridiculous.

What I do know is that the middle ground is gone. Like you said the other day Garth, “The centre seems a vacuous wasteland, where moderates go to die, alone”. Indeed. It seems like these days you are either a right wing extremist nazi terrorist or a left wing pedophile groomer. It seems like these type of divisive politics are encouraged by almost everyone in power. Anyways, not much else to say. Maybe a break from this blog isn’t a bad idea. People don’t appreciate what they have until it is gone. I may not always agree with you (including some of your post yesterday) but I respect you. In fact, I enjoy reading things you post that I disagree with because it allows me to question my own beliefs and challenge myself to see another side. Something more people might consider doing.

#72 Omasare on 09.27.22 at 4:42 pm

I love it when you say no bank will fail.

The big problem Canada has is that it hasn’t gone through 2008 like the others. A reckoning would do it good, knock down the arrogance level a notch and who knows, maybe get it manufacturing plate glass again?

As for civility, we’ll… remember when COVID started and some guy suggested to close comments and was pooppoed?

I’m a white guy and was told by a local to c9me back to where I come from, just because of my accent (English ) so hard to comprehend, I know…

It’s been downhill since 2016 in the western world and Canadians now imitate the southern inbred…

I seriously wonder why the hell im running a business in this country (couldn’t get a real job, no Canadian « experience » whatever that is, maybe thinking things are « good enough » with a productivity that would make a snail look like a hare on steroids?)

In Canada we are overtaxed, gouged from groceries to rents to phone etc, the health service is a joke and was so before COVID.

Why the hell should I stay? more importantly why the hell would anyone except a war refugee come and freeze here?

Our feminist leader thinks that running a business with a spouse is a tax scam. I kid you not, how low can it get?

Yes I know the door is open blah blah blah. But remember that as I close it I’ll also take jobs with me and kids.

I thought Canada needed both jobs and kids. 15 years later I’m not so sure. Feel free to send venom my way.

#73 alexinvestor on 09.27.22 at 4:42 pm

Most bank mortgages are insured. For 15% of Canadians to default on their mortgages you would need a situation far worse than the 1930s (the default rate then was 1.3%). Not happening. No bank will fail. – Garth

A lot of the new debt over the past 10 years is uninsured. That’s because houses over 1m don’t qualify for insurance, and GTA SFHs have been over 1m for a while. CMHC has a report on this. Also there’s private mortgage insurers … guess who fails first. There’s no way they have enough capital to withstand any sort of default tsunami. When they fail, wonder who picks up the debt (oh oh banks). My point was that the regulators will never let it get to this point though. They will inevitably have to adopt measures like extension of mortgage length.

#74 Cowboy Kyle on 09.27.22 at 4:43 pm

Jeez, I mean I disagree with you more and more Garth, particularly as you continue to move further and further left. BUT, that is the beauty of a properly functioning democracy and public court. We can disagree about ideas and discuss them. We do not need to be threatening one another or spouting vile things at each other. Unfortunate that you have to deal with that nonsense. Perhaps someone who you have banned in the past and so they had to email instead of leave a comment?

#75 Spock on 09.27.22 at 4:44 pm

This kind of email / tone / message and language is inexcusable from anyone let alone readers who have been helped plenty. If the persona reading does not like what is written then just move on. Plenty of other blogs and websites on the internet. What a sorry state of affairs and folks who take time to send out such hate messages.

Sorry you have to go through this unnecessary stuff Garth. But it does give insight into the kind of society we are in right now.

God bless you and Dorothy and best wishes.

#76 Bru on 09.27.22 at 4:44 pm

Uncalled for comment… I have seen you in person a few times, own every book so far you have written. Read your blog even though some have told me it’s too negative, but on occasion, your words are not always so kind yourself.
Surprising to see your words on this blog calling out belittling people, just looking for some advise.

#77 Joseph R on 09.27.22 at 4:45 pm

Sorry to hear about all the vile email (s) you are getting. You provide everyone with free advice from you and your colleagues.

As goes an old saying; No good deeds goes unpunished.

#78 Grumpy Panda on 09.27.22 at 4:46 pm

Garth , I wonder what set that nut off. Home prices? Years of procrastination in opening a TFSA? No pets allowed at his residence? I miss your odes to Bandit. How is the new pup doing?

#79 Jon YVR on 09.27.22 at 4:48 pm

Read every day. First post. I come for the content not the comments. Thank you for sharing your knowledge and your time. Rgds to Dorothy.

#80 Paul B on 09.27.22 at 4:52 pm

“Marcus Aurelius”. For some reason, the biggest jerks on the internet fancy themselves stoic philosophers.

#81 The Totally Unbiased, Highly Intelligent, Rational Observer on 09.27.22 at 4:53 pm

DELETED

#82 Earlybird on 09.27.22 at 4:56 pm

Like you said once ” I can escape” ….

I have watched a few Canadian realtor videos and came across a trio of them and one pulled out a HUGE bottle of Jack Daniels…and was drinking it the whole time….what does that mean? Lol…

#83 Carla on 09.27.22 at 4:57 pm

Sorry to hear this, Garth. Please don’t let such vitriol get you down. Praying for you and Dorothy’s safety.

#84 Classical Liberal Millennial on 09.27.22 at 4:59 pm

Silent Poet 226,
Check your inbox, coward. Be a man and reveal your identity. I’m willing to share my real name. Are you?

#85 Johnny D on 09.27.22 at 5:01 pm

Sorry you and your wife received that disgusting email.

#86 Squire on 09.27.22 at 5:04 pm

We appreciate the blog Garth. Sorry to hear about these cheap shots. If you decide to stop the comments section I understand. Hopefully the blog continues though.
Cheers !

#87 ApocalypseNation on 09.27.22 at 5:10 pm

Just remove the comments section. There is nothing of value ever added by the same old trolls with too much time on their hands.

#88 leebow on 09.27.22 at 5:11 pm

There was a post #5 Silentpoet71 on 07.22.21 at 3:21 pm

Silentpoet71 posts on a different board, where he sometimes gets replies from one Marcus Aurelius. Both seem to be from Van Island, Silentpoet71 from Saanich. Could be a coincidence.

#89 Gravy Train on 09.27.22 at 5:12 pm

#40 Nonplused on 09.27.22 at 3:45 pm
[…] Oh and for those who keep arguing with me about 50% of the population being below average intelligence, and half of them being even dumber than that, I give you this to consider.

You stole and then mangled a George Carlin joke. It goes like this: “Think of how stupid the average person is, and realize half of them are stupider than that.”

I think it’s adorable you think you’re of above-average intelligence.

#90 That Guy on 09.27.22 at 5:12 pm

Dear Garth,
So sorry that you have received such a hideous message.

Please remember that there are many others who wish you well, including myself.

To the Silent Poet jerk: retract and apologize to Garth.

TG

#91 Ballingsford on 09.27.22 at 5:15 pm

What kind of idiot would send an email like that?

Glad you have broad shoulders Garth. Hope you didn’t show it to Dorothy.

No wonder it’s hard to get municipal candidates to run in some communities in Ontario. The social media is scary.

#92 Brian on 09.27.22 at 5:16 pm

Seems like China and many eastern countries who are some of the biggest buyers of US treasury bills are scaling back as they seem to be worried of them being sanctioned.

Gruesome, Tailing 2Y Auction Sends Yields To Session High, 10Y At 3.99%

#93 Marc Roger on 09.27.22 at 5:17 pm

This blog is an unsung national treasure.

#94 OK, Doomer on 09.27.22 at 5:18 pm

I tend to believe in a non-zero chance that the Lib/NDP coalition will bail out irresponsible homeowners at the expense of responsible homeowners and investors.

It’s just something that I can see them doing. Call me a psychic or a cynic, but the end result will be the same.

#95 under the radar on 09.27.22 at 5:21 pm

I knew yesterday’s topic would not end well. Most here appreciate and look forward to what you have to say.

#96 MicroGX on 09.27.22 at 5:22 pm

I read daily, never miss a post, since when i do not recall but years. I come for the pics and posts of Garth and colleagues, not the steerage section( trolls, bots, angry keyboard warriors etc…although i admit a peruse occasionally, what % are decent folks? pffff who knows) closing off the comment section would be too easy i guess, I suspect you know the only way back to the Center \ some kind of decorum decency is via dialogue…..your resolve is something else.
for what it’s worth appreciate you. Thanks.

#97 bdwy on 09.27.22 at 5:24 pm

idiots can (barely) use email, ignore them.
you want REALLY angry email? try shutting down this blog!

——————————
#53 Kootenay Dave on 09.27.22 at 3:56 pm
how do you get around the banks taking approx. 2.5 cents (retail vs. wholesale rate) when converting to USDs, and then another 2.5 cents when you eventually sell and convert back to CAD?

/////////////
interlisted stocks. 0%+9.99

buy ry.to on tse in CAD.
sell it immediately on nyse in usd.

presto – us cash in your account to invest as desired.

same flat trading fee for 1k or 10mil.

#98 Sail Away on 09.27.22 at 5:25 pm

The center is a vacuous wasteland??

By no means. The center is a warm, comfortable and friendly place for all good people to gather, with swivel-mounted, belt-fed, .50 cals for protection from both the left and the right.

We’re thriving here. Happily electing centrists who are then labelled far right extremists by the disaffected and mentally unstable. Sigh.

#99 @J on 09.27.22 at 5:28 pm

Garth, I’m incensed to learn about your Canadian flag, your physical person, and your spouse receiving these appalling attacks over the past year or so. You exhibit rare bravery and fortitude, and I for one appreciate your strength of character.

Moreover, your financial advice is top-notch; a diamond in the rough.

Everywhere else I’ve looked, there seems to be a sea of “guru’s” with questionable ethics. Here is an example of financial advice drivel that is out there. Robert Kiyosaki espousing gold, silver, bitcoin, and cows, and talking about the biggest crash in world history:

https://ca.finance.yahoo.com/news/biggest-crash-world-history-robert-160000143.html

Sadly, some people will follow Robert’s advice. A simple search reveals that he is just a conman:

https://www.whitecoatinvestor.com/financial-gurus-who-have-gone-broke/

#100 epic bear on 09.27.22 at 5:30 pm

why get 5% when you can get almost 7.3%?

SEPT 7

The Toronto-Dominion Bank (“TD”) (TSX: TD) (NYSE: TD) today announced the pricing of a Canadian public offering of C$1.5 billion of 7.283% Non-Viability Contingent Capital (“NVCC”) Additional Tier 1 (“AT1”) Limited Recourse Capital Notes Series 2 (the “LRCNs”).

The LRCNs will bear interest at a rate of 7.283 per cent annually, payable semi-annually, for the initial period ending on, but excluding, October 31, 2027. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year Government of Canada Yield plus 4.10 per cent. The LRCNs will mature on October 31, 2082.

#101 Bill Ferguson on 09.27.22 at 5:32 pm

Steve Saretsky doesn’t know which end is up; just another loudmouthed Millennial realtor.

Anyone can make it up as they go along. Even him.

#102 IHCTD9 on 09.27.22 at 5:41 pm

#72 Omasare on 09.27.22 at 4:42 pm

Our feminist leader thinks that running a business with a spouse is a tax scam. I kid you not, how low can it get?

—————

It can get real low bud. Look who’s holding the reins. Canadians used to roll along with the wind at our backs. Post-Trudeau Canada will be an uphill battle for 3 decades or more. I can’t imagine jumping into a big Canadian Metro and starting out from scratch these days. It’s why 35-40% (and likely climbing) end up leaving.

The worst thing is, I don’t believe Canadians would tolerate the conditions required to progress long enough to fix anything.

#103 cmj on 09.27.22 at 5:43 pm

This blogger who sent you the nasty comment is a coward and is a few bricks short of a load. To attack you and give a cruel comment about Dorothy shows his character. Not providing an authentic contact just reinforces his obscure thinking.
I would guess that 85% of comments are beneficial and 15% are a waste of time – not based on facts, racial, attacking etc. We all choose how to deal with the comment section – some read all, others read only the ones you respond to and others don’t read any comments. I don’t think this can be solved but it is imperative that you know we have your back and are so ever grateful for your daily contributions to our every day lives.

#104 mark on 09.27.22 at 5:45 pm

this is what happens when we let an entire generation get raised by social media. it won’t get better. these mindless idiots will spawn into adults and start running countries. oh wait….

#105 The Great Gazoo on 09.27.22 at 5:47 pm

Maybe the day will come when we open an account to view the blog. Minor effort and works fine for me. Likely mitigate a lot of hassles for you.

Unfortunately, there are a few bad apples out there. Likely not a big deal for regular users, but might limit the number of newcomers.

#106 Caffeine Monkey on 09.27.22 at 5:48 pm

Marcus is a likely a Realtor® so he’s got some reason to be bitter these days.

As for Saretsky, wasn’t he going around saying that the BoC’s hands were tied and that it would be impossible for them to raise rates to this extent?

#107 IHCTD9 on 09.27.22 at 5:50 pm

#67 Love_The_Cottage on 09.27.22 at 4:15 pm
How many times have you threatened to shut down the comments, yet you don’t force people to register to comment or filter only to finance related comments.

There is no excuse for that email but if you keep doing the same thing you’ll keep getting the same results.

Oh, my fault. – Garth
———

Blaming the victim.

I thought lefties never did that?

Look how much there is to learn down here in the steerage section of her Majesty’s good ship the “Greater Fool”

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

#108 ogdoad on 09.27.22 at 5:52 pm

@silentpoet – what is the happy face at the end of your email supposed to represent, btw? Accepting your shortcomings?

Og

#109 Macduff on 09.27.22 at 5:53 pm

Sad to say, but it’s time to nix the comments section. There is despicable vermin among the commenters who do not deserve a outlet for their hatred.

#110 kommykim on 09.27.22 at 5:56 pm

#22 young & foolish on 09.27.22 at 3:17 pm
Sorry to hear about the abuse Garth …. on the other hand, many support you!

Question regarding US-denominated ETFs …. does this or not include hedged to Canadian dollars (i.e. VSP.T)?

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

VSP.T is NOT what you’d hold if you wanted exposure to the US dollar via the S&P500 index.
For that, you’d want a UNhedged ETF like VFV.T

ie: If the S&P500 index returned 0% while the USD gained 5% over the CAD then:

VSP.T gains = 0%
VFV.T gains = 5%

(Ignoring MER, etc)

#111 Ian from Oshawa on 09.27.22 at 5:56 pm

Hey, Mr. Turner. VERY sorry you had to get an email like that. Totally uncalled for. You call it as you see it, and offer YOUR perspective on the housing market, personal finance, and economics. People come here to find out what you are thinking. You’ve always steered me right, and I’m grateful for it.

But more than that … we’re lucky to have you. Please keep up the good work. Don’t let a nobody like that wreck your day. Scrape ’em off and press on.

#112 Mike on 09.27.22 at 5:57 pm

Completely ignore these vitriol idiots. I’m a longtime reader and fan. I never commented before, but I had to do it this time. I disagree with you on PP and I think he will be a good PM. Can’t be any worse than T2, that’s for sure. I also don’t agree with you on some other things, BUT you are much more open minded that I am. I’ve taken your advice many times and I have benefited from that advice. Keep up the good work and ignore idiots that hide behind a screen and spew crap online. If you’re going to jump, then jump into a nice cool pool before the weather turns bad.

#113 Sail Away on 09.27.22 at 5:57 pm

#97 bdwy on 09.27.22 at 5:24 pm
#53 Kootenay Dave on 09.27.22 at 3:56 pm

how do you get around the banks taking approx. 2.5 cents (retail vs. wholesale rate) when converting to USDs, and then another 2.5 cents when you eventually sell and convert back to CAD?

———

interlisted stocks. 0%+9.99

buy ry.to on tse in CAD.
sell it immediately on nyse in usd.

presto – us cash in your account to invest as desired.

same flat trading fee for 1k or 10mil.

———

Sure, Norbert’s Gambit. That works, it just takes a few days for the trade to settle.

For simplicity, most self-directed brokerages now offer a single step ‘securities transfer’ of interlisted stocks between exchanges.

#114 Habitt on 09.27.22 at 5:58 pm

So sorry you and Dorothy had to put up with more garbage from a nitwit. Bless you both and thanks again for what you do here.

#115 Soviet Capitalist on 09.27.22 at 5:58 pm

Let’s wish Marcus the same he wishes to others.

#116 Greg Hale on 09.27.22 at 5:59 pm

I agree this blog is a national treasure. A free gift and I thank you for your efforts in putting out content every day. (except the day you got mugged). I always wonder why you don’t remove the comments section? Or if you actually like reading opinions of peasants, some of who make their own day by bashing you from the safety of their computer chair. (worst type of losers). Anyhow another useless comment to read ha.

#117 CJohnC on 09.27.22 at 6:04 pm

Seems likely that yesterday’s #8 Silentpoet, #119 Gi-Bot and the email sender Marcus Aurelius [email protected] are all the same person.

#118 Felix on 09.27.22 at 6:04 pm

“Sometimes this pathetic blog needs to be picked up by the scruff, drooled upon and shaken mercilessly.”

All dogs need this sort of treatment daily, sadly.

But having respectful cat photos like today will greatly improve the quality and intellect of readers here and limit the abuse brought upon you.

#119 Beware of the rhinos on 09.27.22 at 6:09 pm

SilentPoet226 is a rhino. Like the ones portrayed in https://en.m.wikipedia.org/wiki/Rhinoceros_(play).

There are more of these rhinos by the day (for a sample just look at the comments here).

Normal people are turning into beasts. The phenomenon is very well articulated in this piece:

https://www.epsilontheory.com/the-widening-gyre/

#120 Concerned Citizen on 09.27.22 at 6:09 pm

Having read Meditations several times over the years, Marcus Aurelius would surely be among the least likely to write an e-mail like that.

What a brutal message. People, surely we can disagree in a more cordial manner than that. Instead of writing that vitriol, how about writing a polite e-mail explaining why you think you are right.

#121 Reality is stark on 09.27.22 at 6:10 pm

I am not sure if this is any consolation Garth but people hate me and my comments at least by a factor of 5 over you.
I actually see this as a sign of pride as the insolence of the average socialist Canadian is unparalleled in North America.
And yes the dollar is finally beginning to reflect the perverse shift of resources to the risk averse in this country. A recent article laments the unnecessary outrageous bonuses paid to the public service.
60 cents here we come and the commensurate inflation that comes with it.
Sales offices closing at Matamy is just the start.
However the price of Western Canadian select is even more amusing. A socialist backwater.

#122 Concerned Citizen on 09.27.22 at 6:11 pm

#9 Melinda on 09.27.22 at 3:02 pm
I say: Do the world a favour, Garth, and run for prime minister.

*****

If you resurrect the PC party, there’s a high chance I’d vote for you!

#123 M Torma on 09.27.22 at 6:25 pm

Love your response to that Saretsky tweet and his whole thing. He was the one highly confident Canada would do anything to protect condo investors. Gods speed and good luck to those who listened to that.

“Weaker than policy makers are aware of “

He ain’t seen nothing yet.

#124 twisted_sisters on 09.27.22 at 6:32 pm

GT – ‘bank regulator says that change is not happening. The test exists to protect the banks.’
————————————————

Stress tests won’t be altered but you are not denying that the much longer amortizations are out of the equation?

#125 ImGonnaBeSick on 09.27.22 at 6:35 pm

And what a shock… The weatherman somehow makes it about him…

#126 ppsez on 09.27.22 at 6:38 pm

I don’t know the ‘E’ of economics but what I understand is_
1) Current inflation is not just because people have more money or because the interest rate is low.
2) The pace & magnitude of the inflation was may be the highest in the history. (Garth, you can confirm that)

Now the we are trying to tackle just with the use of interest rate & with the same pace it happened. This will not slow the economy, it will break the economy.

I said once before, this is not going to end well.

#127 AM in MN on 09.27.22 at 6:40 pm

Sorry for the email sent to you Garth.

You do a great service. There are no excuses, not ever, for such hatred.

#128 Phylis on 09.27.22 at 6:41 pm

#100 epic bear on 09.27.22 at 5:30 pm
Ya those things are replacing prefs, but how does retail participate in these?

#129 Linda on 09.27.22 at 6:44 pm

#52 ‘Soren’ – thanks for the tips:) I like daffodils, such happy flowers & best of all, deer & rabbits tend to leave them be. Tulips now, if I don’t get the netting up fast enough they’ll be mowed to the ground. Who knew the local wildlife were such a bunch of gourmands?

#130 Søren Angst on 09.27.22 at 6:44 pm

#93 Marc Roger

NAILED IT.
.
.
.
#90 That Guy

Nicely said.

———————-

Face it Garth.

We all 💗 you.

Take heart in that … ya, ya, so I snuck in a pun.

Take care, keep being you and ciao/baci d’Italia (same to Dorothy).

#131 Faron on 09.27.22 at 6:48 pm

Keep Florida’s west coast in your thoughts tomorrow and Thursday. Consider a Red Cross donation for Canadian or US relief if you have the $$$. Been a bad week for wx.

#132 Blog Bunny on 09.27.22 at 6:49 pm

As someone who supports the EU, I see you either as my political ennemy or a clueless lost soul. However, there is no place for threats of violence. Your financial advice is solid and I would still go out with you for a beer.

#133 Happy Gramps on 09.27.22 at 6:50 pm

Boy, yesterday was sum thing else. Everyone should remember that unless you’re indigenous, you’re a part of the immigrant community, so lap it up.

Extreme left or right wing thinking is for the mindless. In these extremes, you haven’t had the ability to think for yourself. I never vote for a political party. You can’t trust them, so I vote for the person who I think will represent me in government, be it municipal, provincial or federal. And I hold them to account. If you don’t vote, you have no right to say anything, or complain.

I don’t worry about anything, because I know what I want and can be sure that my life is going to continue to be what I want, regardless of what is going on around me. Getting all uptight in a knot or some idiotic group won’t help you. Listen to Enya, or Andre Bochelli and just relax.

#134 Reality Check on 09.27.22 at 6:54 pm

31 Soren Angst
Nord Stream 2 pipeline sabotaged in Baltic Sea.
——————-
How long before some Russian propagandist says the pipeline explosions were cause by the Ukrainian special forces or maybe better yet NATO.

#135 ImGonnaBeSick on 09.27.22 at 6:55 pm

#97 bdwy on 09.27.22 at 5:24 pm
idiots can (barely) use email, ignore them.
you want REALLY angry email? try shutting down this blog!

——————————
#53 Kootenay Dave on 09.27.22 at 3:56 pm
how do you get around the banks taking approx. 2.5 cents (retail vs. wholesale rate) when converting to USDs, and then another 2.5 cents when you eventually sell and convert back to CAD?

/////////////
interlisted stocks. 0%+9.99

buy ry.to on tse in CAD.
sell it immediately on nyse in usd.

presto – us cash in your account to invest as desired.

same flat trading fee for 1k or 10mil.

Yep, Norbert’s Gambit. I like to use DLR.TO and journal to DLR-U.TO or vice versa.

Also, sorry you had to, again, deal with an idiot Garth. You’ve been taking a lot of crap lately… People suck right now. Maybe it’s from being too isolated for too long… This jerk probably played too much Fortnite against homeschool teenagers…

#136 Chris on 09.27.22 at 6:55 pm

Keyboard warriors can (and surely will) go to Hell.

I would also pay for a subscription, Garth, to potentially keep the Philistines at bay.

You’re changing lives with your daily posts, for the better. Mine is one of them, and I know of at least one other who I commended your blog to.

I wonder what modern-day Marcus Aurelius is doing with his life?

#137 Interstellar Old Yeller on 09.27.22 at 6:56 pm

I’m really sorry for the abuse being directed at you and Dorothy. It’s absolutely not okay.

#138 Brad on 09.27.22 at 6:57 pm

Steve Saretsky is the real deal, young, well thought and gaining experience fast. I find most realtors to be dummies, he has interest on the economic side (Macro/Micro) of the Vancouver market which is very helpful.

#139 Reality Check on 09.27.22 at 7:00 pm

Garth – Sorry to hear about that abuse directed at you. Absolute coward.

How brave anonymity makes some people that are not actually able to formulate rational discord.

#140 Niagara Region on 09.27.22 at 7:00 pm

To add to #80 Paul B’s observations:
Regarding the name “Marcus Aurelius,” there is a long-standing tradition of Italian fascists glorifying ancient Rome as Italy’s nationalist legacy. Hence, it is not surprising that a respondent who seems to object to Garth’s measured response to neo-fascism in Italy would adopt the name of an ancient Roman philosopher–and, in addition, implicitly assume the posture of a man who is wiser than other people, both in the identity of a stoic philosopher and in the identity of a “silent poet.” Also, fascism and authoritarianism have historically been structured by misogyny. Hence, calling Dorothy a “bitch” and recommending that she fall from a window is in keeping with fascist ideologies of gender.

It’s sad that many people do not possess any significant knowledge about the history of fascism in the early twentieth century and mistakenly think that a small cluster of wealthy men ruling with an iron fist– rather than having a true democracy–is somehow going to save society.

Thanks, Garth, for having an informed understanding of the history of fascism and for calling it out when it rears its ugly head.

#141 Tom from Mississauga on 09.27.22 at 7:02 pm

That email, I’m baffled.

#142 DK on 09.27.22 at 7:04 pm

“Some people don’t like you just because your strength reminds them of their weakness. Don’t let the hate slow you down” – Thema Davis. I’d add that your strength is your eloquence, incisiveness, candidness, intellectual acuity, and grace. Please don’t let the hate stop you from creating your works of art that so many readers seem to enjoy.

#143 OttawaMike on 09.27.22 at 7:04 pm

This blog hascattracted the hard right in the comments section since its inception.

The blogger needs to reflect why.

#144 Will S on 09.27.22 at 7:05 pm

Garth,

That’s an awful email and a terrible thing to write to anyone. On behalf of the steerage section that reads and doesn’t post, my sincere apologies.

I read your website every day, and you are a national treasure. You’ve been a Cassandra since day one, trying to stop Canadians from committing financial suicide. Now that the start of the reckoning is here, there are probably a lot of people who don’t want to hear that they will likely need to file a proposal or bankruptcy and will also lose their house. It’s hard being right, and interacting with the public is usually not a lot of fun. People suck.

Can I propose something? Metafilter, a link aggregator since when the web was fun, requires people to pay $5 to post links and comments. I’m not suggesting you do this, but people who are willing and able to do this will be much less likely to be, frankly, unhinged and mean.

https://www.metafilter.com/newuser.mefi

I hope you don’t hang it up because of the vitriol, mainly because I think your counsel only gets more relevant and insightful with time, especially if we go into a downturn. I will understand if you do, though.

W

#145 Ken R on 09.27.22 at 7:08 pm

Garth, I am a privileged white male. Worked 400 hours of overtime for 15 years to provide for my family and build a nest egg for the future. Expect comments like that. I employ those people, who don’t have what it takes and never will.

#146 Søren Angst on 09.27.22 at 7:10 pm

#134 Reality Check

Also NAILED IT. Didn’t show them all as extensive. Sampling to wit what you say follows.

Biden did it
https://twitter.com/PJPNIG/status/1574740691275620352

US, UK declare war on Europe
https://twitter.com/ai_jared/status/1574757916640530434

US, Poland
https://twitter.com/Malinka1102/status/1574823591174197249

And on, and on.

Amuse, horrify yourself on Twitter …

#NordStream2

#147 richard on 09.27.22 at 7:12 pm

thank you Garth, from one of the silent majority

#148 Annoyed on 09.27.22 at 7:15 pm

Mr Aurelius will be receiving quite a few e-mails this evening.

#149 Brian on 09.27.22 at 7:16 pm

Canada is headed towards a balance sheet recession. With qualifying rate at 7.49%, more and more refi’s will be declined. People with top tier credit who would have got 8% loans 2-5y ago now will see 12%.

#150 I have 3 kids on 09.27.22 at 7:22 pm

Hey Garth,
Sorry to you have to read that kind of garbage spewed for no good reason.
These are small people that make attacks like that from behind a keyboard.

Tax our businesses and industry….for climate.
Here is our government taking $1.00 and turning it into $0.15. Off the backs of (mostly) business, industry and anyone not low income.

Climate Action Incentive Payments
“Through these payments, the majority of Canadian families receive more money back than they pay, with low-income Canadians benefitting the most.”

50% increase
33% increase
25% increase
Is that the yearly increases to your wages?
Dividend payouts?
Services from your government?
Yeah right.

It’s the increase to your Federal Carbon Charge for marketable natural gas the past 3 years.
Same for all fuel types.

Line 16 is natural gas
https://laws-lois.justice.gc.ca/eng/acts/G-11.55/page-26.html#h-247111

Oh and the best part?
After summing all the line items on the back of your gas bill, including the Federal Carbon Charge, HST is then added onto it all.

Tax on a tax.
Oh and Enbridge et al are carbon taxed to death as evil industry polluters that transport product from carbon taxed oil and gas extractors/refiners.

Tax on a taxed tax.
The words have lost all meaning.

#151 C adam on 09.27.22 at 7:23 pm

Ideally no one attacks one another like that. Realistically Garth they way you speak or reply to the comments should be no wonder why you could aggravate people to that point. And to be honest everyone that is on the “wacky” side of the spectrum are long frustrated with the MSM rhetoric they get bagger’d with every day. The truth is the Canadian nation was built on christian/catholic values and it’s why it’s great today.

#152 Ron shazz on 09.27.22 at 7:24 pm

ETFs held in Yankee dollars will pay fatter dividends and capital gains and help wipe away some.” Garth

If currently holding USD, wouldn’t it be better to purchase ETF in other weaker currency while the greenback is currently strong. Example purchase UKP, or JPY denominated ETF. If ETF increases and currency bounces back it’s a double win ….or am I missing somethin

#153 Wrk.dover on 09.27.22 at 7:26 pm

1% total worth invested on Wall st. recently so not too far down.
2.7% total worth in USD cash.
Half of that US content was exchanged from loons on free Garth advise, not many weeks ago.
We are only 13% total net worth in TSE maple for this bobsled ride. Plus 40% in coastal RE.

What if the cross section of steerage mentality represents the mindset of the cross section of the corporate suite?

#154 Editrix on 09.27.22 at 7:30 pm

I love how you published Marcus’ email address….

#155 ALBERTA Based on 09.27.22 at 7:32 pm

Really sorry you (and your wife) had that experience. I never post…but it had to be said, that was just awful.

#156 Søren Angst on 09.27.22 at 7:32 pm

#129 Linda

It’s hell out there Linda.

It is.

#157 Wanda on 09.27.22 at 7:33 pm

I do not trust that Canada can keep going left and more socialist and communist. Who knows. They do not need to pass laws, bail-ins, they just take your stuff. They want to keep brainwashing the younger to say capitalism is bad and is the problem when they are the real problem. They want to keep saying their democratic but they do otherwise as tyrants and keep growing their tyranny.

#158 seamus on 09.27.22 at 7:39 pm

Love this blog – Been following it for years, and keeping best turns of phrase on file, text format. The information on it has been priceless : I have valued the points of view, freely shared, a good balance to opinions expressed from other media. I hope the Turner group keeps it running. Sincerely, all the best.

#159 Mr Fox on 09.27.22 at 7:39 pm

First… why do you even pay attention to these emails? You bring a lot of value, even if I don’t agree with all your statements. The ones who want, will see it.

Second, a response to #134 Reality Check on 09.27.22 at 6:54 pm
They already say it’s the Americans who did it. They refer to Biden’s speach about Nordstream2… https://twitter.com/ABC/status/1490792461979078662
I mean, it was very predictable.

#160 The General on 09.27.22 at 7:40 pm

#134- Reality check: Why would Russia sabotage its own pipeline? Sheesh. Just like Russia bombards it’s soon to be own largest nuclear power plant in Europe? And using museum tanks backed by 75 year old ex convicts to capture 15% of former The Ukraine to boot. Including 90% of The Ukrainian total industrial capacity of the late, great The Ukraine. Bamboozled are you, reality check.

#161 Michael King on 09.27.22 at 7:40 pm

I’ve been reading this blog for many years. Like a financial cycle, the issue of inappropriate comments inevitably re-appears like a bear market. It is why I stopped reading the comments long ago. You do not deserve abuse and to bring your wife into it is beyond the pale. The same solution is suggested every time by concerned readers: close the comments. I agree 100%. In closing, may I thank you and your colleagues for the blog. A must read every day.

#162 Faron on 09.27.22 at 7:45 pm

#125 ImGonnaBeSick on 09.27.22 at 6:35 pm

And what a shock

angry, immanently sick, right wing, man uses comments section of blog highlighting verbal abuse to verbally abuse others rather than STFU or recognize what kind of garbage Garth faces when he even remotely steps on the brittle, snowflakey toes of the right.

The irony is ever so rich. Class act there bud.

#163 Unpinned on 09.27.22 at 7:48 pm

Low life Trash Talk is a tell on the folks who are unable to tolerate the basics in civil society: courtesy; respect; and an open tolerance for other’s views. We can’t overcome all the bad as they are miffed by our above-ground attitude.

#164 Flop… on 09.27.22 at 7:54 pm

Got my flights to Phoenix booked for Xmas.

Told Mrs Flop the Canadian dollar is falling down, and I was glad we had a stockpile of green backs ready to go.

She then proceeded to tell me she had taken it cross border shopping and never replaced it…

M48BC

——————————————————————————-

“Home buyers are backing out of contracts in the Sun Belt, especially in Las Vegas, Phoenix, Tampa and Texas.

The tide has turned, and buyers are now backing out of deals in the Sun Belt as rates rise and home prices remain unaffordable.

Once pandemic boomtowns, 15.2% of homes in cities in the Sun Belt that went under contract in August fell through, or roughly 64,000 homes nationwide saw deals dropped, a new report from real-estate brokerage Redfin Corp. said.

A year ago, only 12.1% of home buyers were backing out of deals. Typically 12% of deals fell through prior to the pandemic, Redfin said. But the last time this number spiked — prior to this fall — was at the onset of the coronavirus pandemic in March/April 2020.

Buyers were most likely to back out of deals in the Sun Belt, the company added, in cities such as Phoenix, Tampa, and Las Vegas. Buyers were least likely to back out of purchases in big cities, including San Francisco and New York.

“A slowing housing market is allowing buyers to renege on deals because it often means they don’t need to waive important contract contingencies in order to compete like they did during last year’s home-buying frenzy,” Redfin noted

https://www.msn.com/en-ca/money/finance-real-estate/home-buyers-are-backing-out-of-contracts-in-the-sun-belt-especially-in-las-vegas-phoenix-tampa-and-texas/ar-AA12fRKt?cvid=3994f2b1b9554c709540a8c4d8b163f7

#165 Mike on 09.27.22 at 7:57 pm

Garth as you can read from all the positive comments the resounding support for you and the blog far out weighs the odd ignorant comment.
As they say keep calm and blog on.
Thanks for all the great advice as always.

#166 mike from mtl on 09.27.22 at 8:10 pm

Never EVER hedge on Canadian Kopeks, always a bad idea in any sort long term.

(semi) Anonymous hater is a weenie.

I don’t trust the LibNDP to not eventually cave on housing, it’s not different this time. Unless they fully intend to call an election in months’ time and hand this RE meltdown to pepe… maybe.

#167 Arto on 09.27.22 at 8:13 pm

Don’t be upset Garth. It’s not him talking. It’s his home equity.

#168 Fluorine on 09.27.22 at 8:17 pm

Sorry to hear about you getting stupid emails. I would ignore them, as I agree with the people who consider this blog and yourself national treasures.

Take it easy.

~Flu

#169 KrisTea on 09.27.22 at 8:19 pm

I generally like people… it’s their behaviour I find challenging. ;)

There is no excuse for that type of behaviour.

Quit the comments. Please keep the blog. Your presence is calming in this current storm. <3

#170 gfd on 09.27.22 at 8:21 pm

With the exponential move in the USD the entire world is facing one massive, $20 trillion short squeeze in USD-denominated debt. Every foreign company or state that has issued USD debt right now expect immediate emergency central bank meeting where panicking officials do everything they can to contain the dollar and undo the tremendous damage the Fed has unleashed on the world.

#171 ImGonnaBeSick on 09.27.22 at 8:23 pm

#162 Faron on 09.27.22 at 7:45 pm

Get a grip. Was my statement incorrect? Your definition of verbal abuse is ridiculously broad…

#172 The Swinging Humanzee on 09.27.22 at 8:29 pm

Hi Garth
Just want to join the chorus that appreciates you and your blog. Of all the media out there, I’m hard pressed to think of any other site or publication that is there, for free, and purely for the benefit of others. Thank you very much for the time and effort you put in here. Never mind the knuckleheads that spew up all over the comments and insult your wife- you are greatly appreciated by those of us who like to learn and know the value of knowledge.

#173 THE DANDADA on 09.27.22 at 8:29 pm

That’s exactly how they want us to treat each other, how they want us to fend for ourselves after rotting the system with GREED and SELFISHNESS.

The elite rich won’t stop until were fighting our own Mothers in the middle of the streets.

#174 The General on 09.27.22 at 8:31 pm

#162- faron: The brittle snowflakey toes of the right? Please tell me how you came to the conclusion that it was a right winger, Sherlock? Left wingers fling poo also, as do monkeys.

#175 Bailey on 09.27.22 at 8:34 pm

The US$ is failing up.

The DOW and the S&P500 both broke June lows.

Won’t be a bail in, that’s right cause the $$$ backing a bailin represents about 0.3% of all deposits at just one of the 4 systemic banks.

#176 Michael in-north-york on 09.27.22 at 8:35 pm

#165 DON on 09.26.22 at 11:42 pm

Equality before the law
Government accountable to the people
Freedom of entrepreneurship
Freedom of consciousness
Respect for the private life

*******
I would agree…so what party leader or current politician would you suggest can bring these great ideas to fruition
===

Hard question. No major party is fully committed to those ideas today. Liberals / center-left valtz with the alt-left whacos way too much. Cons / center-right often accept qanon type populist whacos.

At this time, we have to try and chose someone relatively sane.

I intend to vote for PP in the next federal. Not because he is much better than T2, but just because keeping the same person and same party in power for too long is a bad idea. That’s assuming PP doesn’t do or say too much rubbish. He has opened his count with his BoC diatribes.

If PP renders himself un-votable for, I will checkmark some sideshow candidate and let other voters make the choice between the two unpleasant options.

#177 Yukon Elvis on 09.27.22 at 8:38 pm

#134 Reality Check on 09.27.22 at 6:54 pm
31 Soren Angst
Nord Stream 2 pipeline sabotaged in Baltic Sea.
——————-
How long before some Russian propagandist says the pipeline explosions were cause by the Ukrainian special forces or maybe better yet NATO.

#151 The General on 09.27.22 at 7:40 pm
#134- Reality check: Why would Russia sabotage its own pipeline? Sheesh. Just like Russia bombards it’s soon to be own largest nuclear power plant in Europe? And using museum tanks backed by 75 year old ex convicts to capture 15% of former The Ukraine to boot. Including 90% of The Ukrainian total industrial capacity of the late, great The Ukraine. Bamboozled are you, reality check.
+++++++++++++++++
Gazprom shuts off gas to Europe. Gazprom will be sued for breach of contract. Gazprom sends robot into pipeline and blows it up from the inside. Gazprom claims “Force Majeure” due to terrorism and is not liable. There you go.

#178 A previous regular on 09.27.22 at 8:39 pm

DELETED (Threat)

#179 Faron on 09.27.22 at 8:42 pm

#171 ImGonnaBeSick on 09.27.22 at 8:23 pm

Hey, good job. You managed to say something somewhat nice after a trial run despite being ageist. 7/10: a solid C-.

Based on vitriol similar to what Garth received from the likes of Pat King, I’m gonna guess the dude is more an IHTCD9 character than a home schooled zoomer.

#180 Gene Sullivan on 09.27.22 at 8:43 pm

You are still one of my favourite bloggers to read daily. I am jealous of your amazing wit and content. You can be more like Joe Rogan and just not read any of the commentary – I rarely browse through them. Looking forward to your blog tomorrow and your guests are nowhere near as interesting and entertaining as you are – I understand you need a break and no offence to them.

#181 conan on 09.27.22 at 8:44 pm

Europe’s a mess politically and militarily . I still think Biden does better than advertised in the upcoming Mid Terms and that the Canadian Cons can not defeat the Liberal and NDP combo.

The USA and Canada will end the global swing to the
ultra right.

#182 wallflower on 09.27.22 at 8:51 pm

#4 Rainman on 09.27.22 at 2:51 pm
#37 dmw on 09.27.22 at 3:42 pm

How does eradicating comments section prevent doofuses like silentpoet226 from emailing Garth (which is what silentpoet226 did).

Let’s hope there is a wizard reading this who can now e-bomb silentpoet226 off the grid.

#183 Thank u on 09.27.22 at 8:57 pm

I pay for subscription too, if you decide to change model

#184 Randy Matheson on 09.27.22 at 9:00 pm

I am sorry to see such an ignorant comment directed at you and your wife. I look forward to reading the blog and hope you and the other contributors continue.

#185 Steven Rowlandson on 09.27.22 at 9:02 pm

” house price to income ratios are worse, and we don’t have fixed rate mortgages for 30 years. ”

It isn’t the mortgage duration that needs to be considered but the home price divided by one income. How many years pay is the price? Anything over three is too much and 3 or less is ideal. A home buyer has to pay taxes, eat, be clothed and deal with the rest of life’s expenses. We have this insane situation in the real estate market because people are breaking all the rules and trying to pay too much for too little. Not good for the working folk.

#186 Mary on 09.27.22 at 9:03 pm

Garth…I have learned so much from your books and your blog…what a disgraceful comment, reflects on the commenter, not you or your wife. Having met you and Dorothy at a free seminar you provided when Money road came out, I was thankful then and still for all you both do for us and your team too. Please keep up this great service you generously provide to us all. Forever grateful.

#187 House of Comupance on 09.27.22 at 9:16 pm

#93
This blog is an unsung national treasure.

Yeah? So was Don Cherry.

#188 tkid on 09.27.22 at 9:32 pm

https://www.youtube.com/watch?v=H6l9LhTtuH4

Discussion of # of showings vs # of offers for the GTA for 2022, complete with shiny charts.

#189 The General on 09.27.22 at 9:40 pm

#177- Yukkie Elvis: Earth to Elvis, the Nordstrom 2 was pressured up to deliver, but was sanctioned by Germany, so therefore was NOT delivering any gas anywhere. Sorry. Wasn’t the robot pipe bomb force majeure thingy in a James Bond flick? LOL, there you go. By the way, more than 1 tube was hit fyi.

#190 Bonobo on 09.27.22 at 9:41 pm

Like I have said several times here – real estate will continue to rise in Canada. MILLIONS of immigrants want to move here.

How could it not rise over time?

Buy a home that you can afford and stay in it for a long time and then try to pay it off as soon as possible ===>> WIN!!!

#191 Neo on 09.27.22 at 9:43 pm

Sup Garth,

So the S&P is down like 24% since November 21st. What’s the housing market down in Canada so far from February? Like 14%. Housing market in the US is only marginally down.

But..but..it’s early. Housing will catch up. Uh huh. That’ll be another leg down in the stock market though.

Crossing that 3% I’ve been talking about hasn’t been good for stocks huh.

Problem is now what happens if the Central Banks have to lower the rates if the economy really tanks along with the housing and stock markets but we still have high inflation.

Quite the corner they’ve painted themselves in isn’t it.

Wonder when the CBDC are going to roll out? That’ll fix everything. Right?

#192 crowdedelevatorfartz on 09.27.22 at 9:45 pm

The Lower Brainland wins again!

https://www.burnabynow.com/local-news/metro-vancouver-gas-prices-set-to-top-north-american-record-5879617

Can you say “inflation”?
I knew you could.

#193 ON Refugee in AB on 09.27.22 at 9:47 pm

You haven’t made any convincing arguments for a globalist world order Garth. For most people, globalism is just enslavement to trans-national capitalism. I have a net worth of less than $1 billion US, so globalism most definitely does not offer anything for me. Still voting for the adopted kid from Calgary.

#194 Brandyn on 09.27.22 at 9:51 pm

I had to go back and read some of the trash in the comments after this post – you really do have abs of steel to wade through that cesspool, Garth. Keep up the good work and know that at least one person appreciates your level headed assessment of the world. The right is becoming increasingly deranged and the left is in a moral panic over woke virtue signalling. Most public commentators have chosen a side – thank you for not becoming slave to ideology. You are an iron man among pathetic sellouts. And all to help out the few that can heed your advice. Thanks again. B

#195 Shawn on 09.27.22 at 9:51 pm

One Income?

#185 Steven Rowlandson on 09.27.22 at 9:02 pm

” house price to income ratios are worse, and we don’t have fixed rate mortgages for 30 years. ”

It isn’t the mortgage duration that needs to be considered but the home price divided by one income.

**********************************
One income? 1950 called and wants to know if you are a time traveler.

#196 Faron on 09.27.22 at 9:55 pm

#174 The General on 09.27.22 at 8:31 pm

#162- faron: The brittle snowflakey toes of the right? Please tell me how you came to the conclusion that it was a right winger.

I don’t know for sure, but the bulk of the evidence supports my conclusion. Dead simple: Marcus Aurelius is a stoic philosopher. The far right has a crush on stoics. IHCTD9 and other righties here have quoted stoics frequently, including today.

From an article in Vice:

https://www.vice.com/en/article/xgxvmw/the-revival-of-stoicism

the rise of a small, but troubling, group of far-right men who gravitate towards Stoicism to validate misogynistic and racist beliefs

Also, the majority of comments yesterday were from right wingers with hurt feelings. Kinda like you today and, well, every day.

I’ll remind you that, in the US, the Unite the Right rally that ended in the murder of a counterprotester featured the chant “the Jews will not replace us” which is fascist.

#197 Flop… on 09.27.22 at 9:58 pm

Flop Drops.

I’ll do a couple of half block drops.

2438 SE Marine Dr, Vancouver.

Original ask 1.58

Just sold for 1.13

https://www.zealty.ca/mls-R2724417/2438-SE-MARINE-DRIVE-Vancouver-BC/

2087 e Pender St, Vancouver.

Original ask 1.65

Just sold for 1.2

https://www.zealty.ca/mls-R2711740/2087-E-PENDER-STREET-Vancouver-BC/

So yeah, little bit smaller than standard blocks, probably not the most desirable parts of town, you don’t need Steve Saretsky to tell you the housing market is coming back down…

M48BC

#198 Terrie Rolph on 09.27.22 at 10:00 pm

I am so sorry.
I agree that you should make this a paid for subscription blog.

#199 C on 09.27.22 at 10:02 pm

DELETED

#200 Jol on 09.27.22 at 10:06 pm

Thanks Garth for all your work with this blog. I enjoy reading it a great deal and have learned a lot.

I agree 100% with your views on the benefits of multilateralism, NATO and global cooperation. I am in my 40s and I know that I have been blessed to have lived in an era of peace and prosperity because of the wise decisions made by Canadians from less privileged generations. Thanks for being a voice of reason.

If it all gets burned down one day by snake oil populists, we will very quickly come to regret it.

I am sorry to see the abuse directed your way.

#201 Thanks Garth on 09.27.22 at 10:12 pm

I have read this blog everyday for years…I look forward to reading every night with my after dinner coffee. I appreciate the work you do and the education you provide me.

#202 Figmund Sreud on 09.27.22 at 10:13 pm

Re: … the email I woke up to this morning.
_______________________

I’m a gasp!

Man is the cruelest animal.” ― Friedrich Nietzsche

Indeed. People speak often about a bestial cruelty of a human being towards other human beings, … but that is terribly unjust and offensive to beasts!

May the author of that email be judged fairly by gendarmes in front of Pearly Gates!

Best,

F.S. – Calgary, Alberta.

#203 Ronaldo on 09.27.22 at 10:15 pm

#106 Caffeine Monkey on 09.27.22 at 5:48 pm
Marcus is a likely a Realtor® so he’s got some reason to be bitter these days.

As for Saretsky, wasn’t he going around saying that the BoC’s hands were tied and that it would be impossible for them to raise rates to this extent
————————————————————–
Actually I think Aurelius actually hates realtors assuming he is the same guy that posted this back in 2008. See post #27 in link below. I expect that he has been posting under many different names. Coward.

https://www.greaterfool.ca/2008/11/05/toronto-melts/

The new leader of the opposition recently had similar attack by far right activist Jeremy MacKenzie.

https://www.cbc.ca/news/politics/poilievre-threats-mackenzie-1.6595730

One can only hope that Karma comes back to haunt them.

#204 The General on 09.27.22 at 10:15 pm

May I make a correction? Nordstream #1 is actually 2 pipes. They and Nordstream 2 were all ruptured. This is a disaster for Germany and Europe. I hear German companies are beginning an Exodus to the U.S.A. due to high costs.

#205 Faron on 09.27.22 at 10:15 pm

Had the opportunity to look at Jupiter through some nice glass this morning. Well worth the wake up. If you have clear skies and decent binoculars, you can see a few moons.

Also, my theory on Russia’s sham annexation of Ukraine territory: if Russia can ever so slightly call the territory “theirs” then a Ulrainian strike with western weapons could be viewed as an attack on Russian sovereign territory. That would give Russia pretense for much broader and louder saber rattling and expansion of the war. They need this to frame the war as a defensive action to improve their deteriorating interior propaganda campaign.

#206 Ronaldo on 09.27.22 at 10:21 pm

#101 Bill Ferguson on 09.27.22 at 5:32 pm
Steve Saretsky doesn’t know which end is up; just another loudmouthed Millennial realtor.

Anyone can make it up as they go along. Even him.
—————————————————————-
Sounds like you may have been burned by a realtor.

#207 lee Adams on 09.27.22 at 10:25 pm

Hey Garth – Sorry to see the crap that comes your way in the comments section. Maybe consider selling a subscription at a nominal price ? I would pay it for sure as I truly value your advice and I’m sure thousands of other would as well. That would most likely filter out the rude comments . All the best.

#208 DON on 09.27.22 at 10:29 pm

#176 Michael in-north-york on 09.27.22 at 8:35 pm
#165 DON on 09.26.22 at 11:42 pm

Equality before the law
Government accountable to the people
Freedom of entrepreneurship
Freedom of consciousness
Respect for the private life

*******
I would agree…so what party leader or current politician would you suggest can bring these great ideas to fruition
===

Hard question. No major party is fully committed to those ideas today. Liberals / center-left valtz with the alt-left whacos way too much. Cons / center-right often accept qanon type populist whacos.

At this time, we have to try and chose someone relatively sane.

I intend to vote for PP in the next federal. Not because he is much better than T2, but just because keeping the same person and same party in power for too long is a bad idea. That’s assuming PP doesn’t do or say too much rubbish. He has opened his count with his BoC diatribes.

If PP renders himself un-votable for, I will checkmark some sideshow candidate and let other voters make the choice between the two unpleasant options.

********
Gotcha!

There is a good chance that Trudeau will walk away before the next election and allow a fresh face to take on Pierre if he is still around. Time will tell.

Good chat.

#209 The General on 09.27.22 at 10:35 pm

#196-Faron: Anyone could go by that name to discredit these stoic guys. Mabey this guy is Italian? Or just your everyday ancient Roman Empire groupie. Kinda like me, faron? How fascistic of you. Did you know that pride comes before the fall? I didn’t think so. Adios.

#210 Father’s Daughter on 09.27.22 at 10:36 pm

You’d have to be some kind of angry to write an email like that. Yikes.
Thanks for the blog.

#211 Retired on a Gulf Island on 09.27.22 at 10:37 pm

I have been reading your post pretty much every day for 10 years – since I retired, sold my house, moved to a Gulf Island in BC, and tried to figure out how I should deal with the financial reality of my wife and I and our retirement with her small pension and a windfall from a sale of a Vancouver property (even in 2012 it was like winning a lottery). You have been incredibly helpful. Do whatever you think is best with the comment section but I hope you continue with your blog.

#212 Yukon Elvis on 09.27.22 at 10:37 pm

#189 The General on 09.27.22 at 9:40 pm
#177- Yukkie Elvis: Earth to Elvis, the Nordstrom 2 was pressured up to deliver, but was sanctioned by Germany, so therefore was NOT delivering any gas anywhere. Sorry. Wasn’t the robot pipe bomb force majeure thingy in a James Bond flick? LOL, there you go. By the way, more than 1 tube was hit fyi.
+++++++++++
Nordstream 1 was damaged as well. It was delivering gas. Arbitrarily shut down therefore subject to breach of contract.

#213 omasare on 09.27.22 at 10:43 pm

#190 Bonobo on 09.27.22 at 9:41 pm
Like I have said several times here – real estate will continue to rise in Canada. MILLIONS of immigrants want to move here.

——————————————–

Delusional and mildly amusing
Can I have some of what you’re smoking?

#214 epic bear on 09.27.22 at 10:46 pm

#128 Phylis on 09.27.22 at 6:41 pm

#100 epic bear on 09.27.22 at 5:30 pm
Ya those things are replacing prefs, but how does retail participate in these?
____________________

i have no idea yet about the LRCN’s… yet… i see them using the capital to take out some existing prefs, but i doubt prefs will go away.

i’m watching investment grade floaters, now paying more than 8% at current 3 month tbill rates. ytw on fixed rates are also in the 8% range. investment grade perpetuals are in the 6.3-6.5% range.

those yields could get even better as markets collapse next few weeks, so this is where i’m focusing when things settle down. if you can get perpetuals at 7%+ and the others at 9-10% + then you’re laughing. (you got those yields in 2020)

#215 Brian on 09.27.22 at 10:47 pm

I really can’t figure out why the comment section of this blog attracts some of these extreme losers. It’s a financial blog—exceptionally witty and somewhat opinionated—but not so controversial.

Great blog, but absolutely useless comments section. Like me, I’m sure most readers get zero value from 99.9% of the comments.

I understand that removing comments wouldn’t prevent that hate email, but without this platform, that loser may go elsewhere. There’s lots of dank corners on the interwebs where he (or less likely she) would be welcome.

#216 Oakville Rocks! on 09.27.22 at 10:57 pm

I can’t say I am shocked by the email, which is sad.

I would remind everyone that our politicians probably face this sort of thing everyday and for female politicians it is likely an order of magnitude greater.

Not that it is worth anything or matters much, but I agree with Faron as to the political leanings of this keyboard coward. The fact that the second line is there at all speaks volumes about who this person is. And more likely, they had a comment deleted or completely ignored yesterday.

Never under estimate the likelihood that a jerk will double down on being a jerk.

Keep on keepin on Garth.

#217 IHCTD9 on 09.27.22 at 11:03 pm

#192 crowdedelevatorfartz on 09.27.22 at 9:45 pm
The Lower Brainland wins again!

https://www.burnabynow.com/local-news/metro-vancouver-gas-prices-set-to-top-north-american-record-5879617

Can you say “inflation”?
I knew you could.
———-

You might have Ponzie over a barrel on your gas price prediction yet.

Say, where is that crusty old bugger?

#218 CovidVaxShill on 09.27.22 at 11:06 pm

DELETED (Anti-vaccine doodle)

#219 DON on 09.27.22 at 11:08 pm

#140 Niagara Region on 09.27.22 at 7:00 pm
To add to #80 Paul B’s observations:
Regarding the name “Marcus Aurelius,” there is a long-standing tradition of Italian fascists glorifying ancient Rome as Italy’s nationalist legacy. Hence, it is not surprising that a respondent who seems to object to Garth’s measured response to neo-fascism in Italy would adopt the name of an ancient Roman philosopher–and, in addition, implicitly assume the posture of a man who is wiser than other people, both in the identity of a stoic philosopher and in the identity of a “silent poet.” Also, fascism and authoritarianism have historically been structured by misogyny. Hence, calling Dorothy a “bitch” and recommending that she fall from a window is in keeping with fascist ideologies of gender.

It’s sad that many people do not possess any significant knowledge about the history of fascism in the early twentieth century and mistakenly think that a small cluster of wealthy men ruling with an iron fist– rather than having a true democracy–is somehow going to save society.

Thanks, Garth, for having an informed understanding of the history of fascism and for calling it out when it rears its ugly head.

********
Nicely done!

You think too much, such men are dangerous. Respectfully.

Here’s an oldie my Daddy talk me…Whistle while you work Hitler is a jerk Mussolini bit his weenie Now it doesn’t work.

#220 The General on 09.27.22 at 11:25 pm

#196-faron: According to Merriam Webster, to be misogynistic (adverb) is feeling, showing, or characterized by hatred of or prejudice against women: of, relating to or being a misogynist. Now, are you saying a portion of the loyal Garth groupies are woman haters? Btw, there’s a difference between venting, and having hurt feelings. Calling Dr. Freud!

#221 Jon B on 09.27.22 at 11:27 pm

I guess there’s always going to be haters. Ignore them, we appreciate the always insightful daily blog posts.

#222 Faron on 09.27.22 at 11:27 pm

#209 The General on 09.27.22 at 10:35 pm

…mabey…

Good gawd, your spelling is worse than my autocorrect-free mash jobs.

#223 DON on 09.27.22 at 11:28 pm

#189 The General on 09.27.22 at 9:40 pm
#177- Yukkie Elvis: Earth to Elvis, the Nordstrom 2 was pressured up to deliver, but was sanctioned by Germany, so therefore was NOT delivering any gas anywhere. Sorry. Wasn’t the robot pipe bomb force majeure thingy in a James Bond flick? LOL, there you go. By the way, more than 1 tube was hit fyi.

***********

I say..I say Pay attention to me boy! I’m not just talkin’ to hear my head roar. That’s what I’ve been – I say, that’s what I’ve been telling you, boy!

Sir Yes Sir

What we have here is a failure to communicate.

And if you screw up just this much, you’ll be flying a cargo plane full of rubber dog shit out of Hong Kong!

Who stands to gain the most if the non active pipeline is scuttled?

The ship set sail on a sunny day, the skipper and his mate.

Have you ever been to sea Billy.

#224 Tony on 09.27.22 at 11:40 pm

Re: #213 omasare on 09.27.22 at 10:43 pm

He forgot the part about it takes 40 years to save for a down payment.

#225 Jesse on 09.27.22 at 11:51 pm

Hello Garth, I rarely post but read always. I was considered for a position with your organization once. Which I might add, was a highlight of my slightly young life. I cannot sit by quietly while some make you question your dedication for this blog. I find exuberant value in every word. Don’t let the select few dampen your drive. Me and thousands of others tune in for the invaluable opinions and facts. Thank you for now and for always. Also I’m still open for another change at the seat I the kingdom lol, keep us posted on job openings.

#226 DON on 09.27.22 at 11:56 pm

#124 twisted_sisters on 09.27.22 at 6:32 pm
GT – ‘bank regulator says that change is not happening. The test exists to protect the banks.’
————————————————

Stress tests won’t be altered but you are not denying that the much longer amortizations are out of the equation?

*******
Will longer amorts be enough to stop the monster standing behind you…job loss due to recession. If your neighbour has to sell…watch out! How much is the Great Canadian Heloc Bill?

#227 Dejan on 09.27.22 at 11:57 pm

Mr. Turner,

Please don’t give up hope and don’t give up on us. There are a lot of people who follow this blog whose financial education significantly improved thanks to your free content, myself included.

The world has always been full of poisonous and malicious individuals, the difference between back in the day and now is now, they have access to internet and can hide in anonymity. Please forgive them, because they are lost.

Keep fighting the good fight and never give up.

Kind regards,
Dejan

#228 DON on 09.27.22 at 11:59 pm

#217 IHCTD9 on 09.27.22 at 11:03 pm
#192 crowdedelevatorfartz on 09.27.22 at 9:45 pm
The Lower Brainland wins again!

https://www.burnabynow.com/local-news/metro-vancouver-gas-prices-set-to-top-north-american-record-5879617

Can you say “inflation”?
I knew you could.
———-

You might have Ponzie over a barrel on your gas price prediction yet.

Say, where is that crusty old bugger?

*********
I think he went on vacation.

#229 Dane on 09.28.22 at 12:00 am

Long time reader, first time commenting. Just wanted to let you know I look forward to reading your blog daily :)

#230 AI on 09.28.22 at 12:00 am

Hi Garth, long time lurker here. Bought my house first house last year(yes, yes, in spite of your warnings). Love the content, stopped reading the comments a long time ago. Please, for the sake of your own sanity, disable comments.

All the best to you and Dorothy.
From: Screwed in the 6ix

#231 Patrick Ryan on 09.28.22 at 12:00 am

Thank you for this blog. It’s very sad that people will say such obscene things. Embarrassing actually. Please continue with this! You are appreciated!!

#232 Tony on 09.28.22 at 12:02 am

Re: #64 roofer on 09.27.22 at 4:14 pm

Home Bank, Home Trust, Home Capital, EQ Bank and Canadian Western Bank would top the list. One thing you can be sure of even with higher inflation is the 100 thousand dollar insured limit won’t be raised for ages if ever.

#233 Tony on 09.28.22 at 12:07 am

Saretsky knows the very basic rudiments about economics. I can’t give him credit for anymore listening to his youtube channel.

#234 crowdedelevatorfartz on 09.28.22 at 12:13 am

@#217 IHCTD9
“Say, where is that crusty old bugger?”

++++

Fracking…..in Deutschland.

#235 crowdedelevatorfartz on 09.28.22 at 12:17 am

Speaking of predictions.
I predicted Putin’s head on a stick by the end of Sept.
Perhaps Ponzie is hiding ’til Oct 1st.
If Putin is still alive.
Ponzie jumps on the “Crowdie is wrong gloat train”.
Or
He’s Fracking in Deutschland….

#236 The General on 09.28.22 at 12:38 am

#196- faron: Some of the Antonyms defining a reactionary, aka fascist include:
•liberal
•non conservative
•open minded
•progressive
•unconventional
•unorthodox
Mabey you’re more non conservative than open minded? Definitely unorthodox though. Cheers!

#237 Kevin BC on 09.28.22 at 12:54 am

What a disgusting comment. Thank you Garth for all that you do. Time to nuke the comment section or use the WordPress plug in to moderate it… it’s toxic

#238 Sail Away on 09.28.22 at 1:13 am

#205 Faron on 09.27.22 at 10:15 pm

Also, my theory on Russia’s sham annexation of Ukraine territory: if Russia can ever so slightly call the territory “theirs” then a Ulrainian strike with western weapons could be viewed as an attack on Russian sovereign territory. That would give Russia pretense for much broader and louder saber rattling and expansion of the war. They need this to frame the war as a defensive action to improve their deteriorating interior propaganda campaign.

——–

Oh, your theory is exactly the same as US Secretary of State Anthony Blinken’s, as reported in the WSJ midday today? Quelle coincidence! The WSJ article also used the word ‘sham’.

“Blinken said the U.S. would never recognize the annexation, which could enable Moscow to say Russia is being attacked if Kyiv’s offensive continues” -Wall Street Journal

#239 Compromised on 09.28.22 at 1:19 am

#48 – Sail Away

We must be in the same club! I wanted new golf clubs but my wife wanted a new stove. Through much compromise, I am now the proud owner of a new stove — AND — I got a new golf glove!

#240 Nonplused on 09.28.22 at 2:00 am

#89 Gravy Train on 09.27.22 at 5:12 pm
#40 Nonplused on 09.27.22 at 3:45 pm
[…] Oh and for those who keep arguing with me about 50% of the population being below average intelligence, and half of them being even dumber than that, I give you this to consider.

You stole and then mangled a George Carlin joke. It goes like this: “Think of how stupid the average person is, and realize half of them are stupider than that.”

I think it’s adorable you think you’re of above-average intelligence.

—————————–

I thought everyone knew that was George Carlin. Sorry I didn’t put an attribution. My point was that every time I say 50% of the population is below average intelligence, people jump in and say “no, most people are above average intelligence”. That and I was implying silentpoet was an idiot.

#241 yvr_lurker on 09.28.22 at 2:24 am

sorry you had to endure this offensive email. Easy to file in the trash, but it does leave a mark for sure when one does not know how unbalanced the writer actually is.

Although I often am not in tune with your politics, in a civil society issues can be debated and discussed and we don’t all need to have the same worldview.

#242 Bileth on 09.28.22 at 2:28 am

Garth, your [free] guidance is very appreciated. Please try to ignore the gutless, insignificant riff raff. Take care, and thank you.

#243 Matthew Collins on 09.28.22 at 3:38 am

Marcus, do yourself a favour and stop reading this blog. You have some serious issues to send a message of that nature. Plus, you’re going to ruin it for the rest of us. If you need new material I know a guy by the name of Steve Saretsky…

#244 Robert Ash on 09.28.22 at 3:58 am

People are stressed, and financially have been worked over to be encouraged to take on debt… and it is starting to show. Small business folks at wits end, since 2019. There are quite difficult times, in about two thirds of the Globe…. Time to try a little Patience. Levity, Kindness.

#245 Mehdi on 09.28.22 at 4:03 am

Hey Garth;

How about you just get rid of the steerage section?
It’s harming you and wasting your time.
It’s not providing me (us maybe?) much.

Take care and regards to Dorothy.

#246 Mousey on 09.28.22 at 4:11 am

The nasty crap received on an open forum is the price paid for offering the democracy of open dialogue. When you invite everybody to dinner, some of the guests eat too much, talk too much, stay too long and so on. It has ever been so. I still invite everybody to dinner, although I find it exhausting.

#247 Diamond Dog on 09.28.22 at 5:09 am

#4 Rainman on 09.27.22 at 2:51 pm

Except it’s not all abuse.

#42 Franco on 09.27.22 at 3:51 pm

You speak for the majority and me too.

#165 Mike on 09.27.22 at 7:57 pm

Garth as you can read from all the positive comments the resounding support for you and the blog far out weighs the odd ignorant comment.

As they say keep calm and blog on.
Thanks for all the great advice as always.

——————–

So true. I read some comments tonight suggesting in support of Garth, that the comments section be scrubbed because? There are some trolls out there and some comments are cruel and ill informed. Is that reason enough? Or most or all comments are cruel and ill informed, is that really accurate?

It’s not a perfect world readers, accept it. Not to mention that what we are doing when we dismiss the comment section with a wave of a hand is an act of “depoliticization” whether we know it or not defined as?

“To remove something from political influence.”

This is how democracies die. This is what authoritarian regimes and dictators do. They remove the people, namely the general population from political influence. Can’t stress this enough, to preserve a democracy, any democracy, the people (that’s us) need to be encouraged to be actively engaged in politics. A comments section, whether we understand it or not, does this.

And now, some of us all well meaning and supportive I’m sure, are suggesting to a seasoned MP and former leadership candidate of an opposition governing party that removing this blog’s comment section that largely discusses economics and politics, should be removed? Good advice for someone who’s a tyrant maybe, but not Garth Turner.

I remember when Garth tried to bring in a little bit of media in the commons when he was an MP. A simple video cam in the commons to catch some clips and put the masses at ease with those who work there and serve the people on their behalf. Video’s… this blog right… and Harper booted him for it.

Don’t want to sound overly critical, but its a treatise on how we don’t think things through, not just with the inability to recognize good (and bad) leaders when they come, but what it takes to preserve political systems from bad leaders so we can get rid of them later. Like Russians wishing they had a system that could get rid of Putin right now which goes to show what happens when we are too passive or don’t think things through in the face of our freedoms and rights being taken away.

#219 DON on 09.27.22 at 11:08 pm

#248 Steven Rowlandson on 09.28.22 at 5:43 am

“So, it just a matter of time until the tradesmen start to feel the pinch.”

As a tradesman I already do as of 1982 over all and since 2 weeks ago quite recently. I normally work on stairs.
A graph of my earnings since 2009 looks like a graph for the great depression.

#249 Diamond Dog on 09.28.22 at 7:08 am

Speaking of trolls…

#160 The General on 09.27.22 at 7:40 pm

#134- Reality check: Why would Russia sabotage its own pipeline? Sheesh. Just like Russia bombards it’s soon to be own largest nuclear power plant in Europe? And using museum tanks backed by 75 year old ex convicts to capture 15% of former The Ukraine to boot. Including 90% of The Ukrainian total industrial capacity of the late, great The Ukraine. Bamboozled are you, reality check. – TG

Why self sabotage, to get out of contracts. Why get out of contracts, its economic strategic (if one can call it that) warfare. Why would Russia bomb a nuke plant? It’s a bit like dropping a nuclear bomb without the blow back of actually dropping one isn’t it… in keeping with their accumulating list of acts of terror with a purpose, the indiscriminate bombing of civilians, destroyed cities, mass graves etc.

Not to mention, Russians have a reputation for being messy and incompetent. Human error is all too believable. No offense to Russians, but it’s in keeping with a population that has been traumatized from totalitarian/authoritarian rule for most of the last 100 years. They’ve suffered and what does trauma do, it makes a mess… not that General would know, he doesn’t read Enwiki. Museum tanks and convict conscript Hollywood speak only furthers this point.

Just a mention, poorly thought out comments won’t move the needle, it’s all too common but the putdowns and the cuts “The General” made toward Ukraine and Reality Check will get attention. He continues on:

#174 The General on 09.27.22 at 8:31 pm

#162- faron: The brittle snowflakey toes of the right? Please tell me how you came to the conclusion that it was a right winger, Sherlock? Left wingers fling poo also, as do monkeys. – TG

More putdowns. (yawn)

189 The General on 09.27.22 at 9:40 pm
#177- Yukkie Elvis: Earth to Elvis, the Nordstrom 2 was pressured up to deliver, but was sanctioned by Germany, so therefore was NOT delivering any gas anywhere. Sorry. Wasn’t the robot pipe bomb force majeure thingy in a James Bond flick? LOL, there you go. By the way, more than 1 tube was hit fyi. – TG

A needless “Earth to Elvis” cut, right? Nord 2 was delivering gas and so was Nord 1 when both pipelines were taken offline within hours of each other. There were blasts picked up by seismologists as well which is why the potential for sabotage was widely reported:

https://www.msn.com/en-ca/news/world/blasts-occurred-near-nord-stream-gas-leaks-seismologists-confirm/ar-AA12izLR

#209 The General on 09.27.22 at 10:35 pm

#196-Faron: Anyone could go by that name to discredit these stoic guys. Mabey this guy is Italian? Or just your everyday ancient Roman Empire groupie. Kinda like me, faron? How fascistic of you. Did you know that pride comes before the fall? I didn’t think so. Adios. – TG

BANAL. In the last piece, “The General” took a swipe at me. Yeah, me too and on this piece, everyone else he addressed. Some advice for The General and others who so wish to run fellow bloggers down at this site. “Speak to others as though you used your real name and your job, marriage and friendships depend on it. This isn’t Twitter or You Tube, it’s Greater fool. If you mess with blog dog’s… you will mess with the pack.”

#250 epic bear on 09.28.22 at 7:13 am

BANK OF ENGLAND: BANK WILL CARRY OUT TEMPORARY PURCHASES OF LONG-DATED UK GOVERNMENT BONDS FROM 28 SEPTEMBER
_________________________________

is that printing money?

#251 Long Time Supporter on 09.28.22 at 7:17 am

Never commented before but felt I really needed to. Like a lot of the internet,the comment section is being flooded with extremists spewing venom,usually having nothing to do with the blog topic. Others blabbing endlessly about Italy,or cats. I would be very sad if Garth takes this blog down,perhaps it’s time to dump the comments,force commenters to use real name or have a paid subscription.
Garth doesnt need this,especially a free blog. Some people have no class and WAY too much free time on their hands.

#252 Matt on 09.28.22 at 7:24 am

Thank you for all the work you put into this blog. The information you’ve provided has helped me immensely throughout the years and hopefully the years to come. Have a great day sir

#253 Carlin calculus on 09.28.22 at 7:54 am

#240 Nonplused on 09.28.22 at 2:00 am
#89 Gravy Train on 09.27.22 at 5:12 pm
#40 Nonplused on 09.27.22 at 3:45 p

I thought everyone knew that was George Carlin. Sorry I didn’t put an attribution. My point was that every time I say 50% of the population is below average intelligence, people jump in and say “no, most people are above average intelligence”. That and I was implying silentpoet was an idiot”

Carlin was no mathematician and neither are you . .what he should have said was that 50% are below the median intelligence …not average. .sorry am a stickler for detail…

#254 crowdedelevatorfartz on 09.28.22 at 8:25 am

Hmmmm.
Perhaps the “job for Life” in the “civil” service isn’t so permanent after all?

https://www.reuters.com/world/uk/after-high-profile-sacking-uk-civil-servants-fear-jobs-under-truss-2022-09-27/

#255 Phylis on 09.28.22 at 8:32 am

For the suggestions, Paying for the blog will increase the cries of you can’t censor me. Something to consider if you offer a service.

#256 Steven Gregory on 09.28.22 at 9:00 am

ban anyone that writes vitriol.

#257 Oakville Rocks! on 09.28.22 at 9:12 am

@#205 Faron

Thanks for that reminder. When you say “Had the opportunity to look at Jupiter through some nice glass this morning.” do you mean a decent pair of binoculars or you had access to something even better through a friend in the Physics/Astronomy Dept?

@#253 Carlin Calculus
You sir are no George Carlin, no one corrects Carlin. Having read enough of your posts I know you are not a wordsmith and humour is not your thing. If Carlin had said median it is no longer funny.

However, this “sorry am a stickler for detail” is hilarious or perhaps ironic coming from you.

#258 ImGonnaBeSick on 09.28.22 at 9:24 am

#253 Carlin calculus on 09.28.22 at 7:54 am

A stickler for details, and seriously short of a sense of humour…

That is how great jokes are ruined… I’m sure you’re a hoot to watch movies with too…

#259 Diamond Dog on 09.28.22 at 9:24 am

Re-read your piece Garth and some quick comments and addresses from yesterday. Yeah, the dollar has added 5% or more in the last 2 weeks over most world currencies, not just the loonie. I think we’re lucky to have kept pace with the dollar as long as we have, but a nickel drop in 2 weeks for the loonie is unexpected.

The U.S. dollar without question is a star and will continue to shine until early next year when they top out rates somewhere in the mid 4’s as they predicted. It’s 5 or 6 months away and a lot can happen, but they are trying to restore cred. Once the dollar peaks, it might just go sideways for most of the rest of 2023, we’ll see.

I see the dollar being worth more than the Euro early next year and I’m likely not alone. The best investment of the year for big $ has been a currency play with the dollar itself not for Canada so much until late, but it would have been this year for most of the rest of the world.

My thinking is that once the dollar peaks sometime next year, it may be the highest compared to the world for the rest of the decade. the Fed rate will fall again. War will also abate. From 2024 on, I think public debt coupled with credit expansion and calm in Europe will cause pressures on the dollar.

As we know with commodities, with the dollar’s rise, commodities fall and vice versa. O & G has slipped as have base and PM metals and its making me wonder how far commodities can truly fall. Its strong dollar and world recession vs still tight supply and war. Either way, commodities have slipped.

If commodities did crash, we’re looking at under investment and still tight supply likely timed with a world coming out of recession and a weaker dollar at a later date. Trough and peak.

This nickel drop in the loonie is worrisome, though. If commodities did crash from a strong dollar and wimpy demand, Canada I fear, would experience an ugly recession considering what’s happening in the U.S.. This timed with a crash in housing across the continent, I can see why there’s noise concerning failing banks, but it’s early days for this talk.

Some interesting stuff I’m seeing is the 2 and 10 year inversion is seemingly normalized and no one is talking about that anymore even though the spreads have widened. Also interesting is 30 year mortgages in the U.S. are above 7%, rising more than 4% since the start of this year. These are strong headwinds with the Fed still needing to raise rates another percentage point plus? Interesting times.

The only advice I can think of for mortgage renewals coming up before the next rate hike if that reader is you, is look at a 2 year term vs variable. I would take the 2 year if it’s around 5%. When Garth mentioned it a month or so ago around 4%, it sounded quite logical then as well.

The Fed will have to pivot at some point. It’s logical that a pivot less than 2 years from now would work out better for a 2 year than a 5’er. One thing I’m not clear on for 2024 is how inflation is impacted by a falling U.S. dollar or how the Fed might handle that, but a 2 year makes sense to me at 5% if renewal was coming up for mortgage holders before the next rate hike.

#260 SunShowers on 09.28.22 at 9:28 am

“#9 Melinda on 09.27.22 at 3:02 pm
I say: Do the world a favour, Garth, and run for prime minister.”

I have a feeling Garth would rather chew rocks than dip his toes back into politics, but if he were up for the big seat, he’d have my vote.

Sorry about the gross email and comments :(

#261 Annek on 09.28.22 at 9:36 am

Statement from Pierre Poilievre:
This weekend I became aware of disgusting
comments made by Jeremy McKenzie and
another man, where they discuss sexually
assaulting my wife. These men are dirtbags.
Frankly, like most Canadians, until about a
month ago I had never heard of Diagolon &
these losers. They are all odious.
My office has referred these comments to the
RCMP to asses whether criminal charges should
be laid.
This kind of garbage has no place in Canada.
No one should face this abuse.
People can attack my politics, they can call me
names, they can protest my ideas and what I
stand for. But threatening my wife and family is
appalling and I will not tolerate it. Leave my
family alone.
…..
Garth: unfortunately, this kind of behaviour is happening everywhere. Not acceptable.

#262 YVR Renter on 09.28.22 at 9:39 am

Garth, you provide invaluable financial and real estate advice and information. You shouldn’t have to put up with folks abusing the comments section. I used to read it as some folks posted good info, good links, etc. But I rarely do now.They can go on reddit and fight about politics. If you want to make your blog a paid subscription, I’m totally in!

#263 PBrasseur on 09.28.22 at 9:50 am

Any platform that allows anonymous messages will get nasty posts, even if you’re just talking about drawing or ballet you’ll eventually get people flaming, insulting even threatening you. Multiply if you talk about politics, economics or geopolitical stuff. This is just human nature, politeness is just a veneer it would seem. Reminding people to stay polite (and staying yourself polite…) helps I think.

As for opinions my advice is to use less labels (fascist, right wing nut, etc) and discuss actual policies instead.

Does criticizing barely controlled mass immigration make you a bigot, an extremist? I think not. But refusing to discuss the matter and resorting to labels is equivalent to cancellation which is sure to backfire eventually.

Canada does not have ‘barely controlled mass immigration.’ What is it about newcomers that gets your knickers in a knot? This is the ugly underbelly of the Conservative movement. You will never wrestle an apology from me for pointing it out. – Garth

#264 mike on 09.28.22 at 10:05 am

If you put up a bird feeder and squirrels show up, they should be celebrated and not loathed as the “odious, abusive dirtbag vitriolic freeloaders that they are”. But, dogs & a cat sometimes do the trick.

#265 Steve on 09.28.22 at 10:30 am

With the BOE of England stepping in to buy UK bonds and with Japan already doing the same, and with the EU already stating that they will step in an YCC Italy et al., can we start talking about the 60/40 portfolio and what this means for the bond portion of your portfolio.

The only way out, is for all CBs to control the yield curve, normalize inflation at 4%, and inflate their debt. Please talk about how this affects bondholders and pension funds.

This time is different.

#266 PBrasseur on 09.28.22 at 10:33 am

For the record I’m above all a fiscal conservative and firm believer in the superiority of free market capitalism when individuals rights and integrity are well protected by rule of law. I have little interest in social issues such as abortion or same sex unions.

I don’t care about the issue of immigration that much either really, it’s just that I it see being used by leftist governments as yet another way to kick the socialist can down the road. In other words immigration is just another tool to stimulate and sustain the failing socialist model a bit longer.

Canada was built on immigration. And we have never had a national socialist government. – Garth

#267 Dharma Bum on 09.28.22 at 10:36 am

It saddens me to see someone abusing the communication conduit (email via internet) by sending what amounts to a death wish to an open an honest individual like Garth Turner who magnanimously provides his email address to the public in order to field inquires, have conversations, etc.

I wish there was a way to track down the source of that email. I bet it was that guy who Garth always says “hates him”.

As times get tougher (and we ain’t seen nuthin’ yet – the noose hasn’t even begun to really tighten) the nutbars on shaky ground will become increasingly unhinged.

COVID set the stage to expose the mentally and emotionally unstable among us. They are still living in a state of fear and paranoia. The looming recession is beginning to take its toll on the rest of the loons. Those already living on the edge are starting to unravel.

I notice it in the behaviour of the masses out there. People are quick to honk horns for no reason. The level of impatience is astounding. Angry faces and intensely uptight expressions are on so many. A lot of anger and shouting at each other. Whoa! People are losing it.

I believe that it is directly related to peoples’ sudden realization that their personal financial situations are precarious to say the least.

Underwater on their mortgages, increased mortgage payments on the horizon, credit card debt out of control, rents are up, car lease renewal costs are up, jobs are not going to be guaranteed pretty soon, inflation making the cost of day to day living go up, financial portfolios melting (like the glaciers), global warming heating up (with zero point zero real solutions to stop it anytime in our lifetimes despite what the climate change fix hucksters spew), the kids are all on drugs, the parents are all essentially functioning alcoholics, dad’s a gambling addict and a philanderer, mom’s hooked on Ativan, junior’s got ADHD, the content on Netflix sucks, the Leafs are going to be terrible once again despite the fresh false hope the misguided Toronto fans will have yet again, the Eglinton subway construction will be bad for years to come, public education is in the toilet, and Justin Trudeau is still talking about how he is “helping Canadians” while Pepe LePew Poilievre keeps asking his one trick pony parrot question “will you cut taxes?”, I mean, it’s NO WONDER the populace is getting a little edgy.

Anyhow, what was I talking about?

#268 millmech on 09.28.22 at 10:40 am

Our company is getting lots of resumes for afternoon and graveyard positions, called a couple of applicants last night just to see why they want the off shifts. Almost all of them are looking for a second income, fully employed but need the money as bills are piling up fast.
One person who is looking is soon to be laid off as their plant produces high end food products and has seen the order file plummet this month and another person’s company produces product for the housing construction market and has been dropped down to three shifts a week (afternoon and graveyard already shut down in August). The second person said that there is now two years of their product sitting in storage and company is paying out the nose for storage and is unable to ship to the USA as that market is saturated as well.

#269 Cheryl Stephenson on 09.28.22 at 10:46 am

Garth; I enjoy your blog and your tongue-in-cheek humour and great information. Don’t let the creeps get you down. Unfortunately, there are way too many of them in the world. All the best!

#270 Meh on 09.28.22 at 10:48 am

Canada does not have ‘barely controlled mass immigration.’ What is it about newcomers that gets your knickers in a knot? This is the ugly underbelly of the Conservative movement. You will never wrestle an apology from me for pointing it out. – Garth

___________________________________

When was the last time anyone wrestled an apology from you Garth? I’ve never once read an apology or admittance of being incorrect on your part. Just a lot of nasty insults denial and ad hominen personal attacks. A ton of hypocrisy to boot.

Death threats and insulting your spouse, completely disgusting and unacceptable. But you do love to stir the pot and rub many the wrong way. Getting physically beaten up and having your life threatened within a span of about 10 days or so, may have to have you exercising some humility and restraint in the future, in the name of self preservation and considering how unpredictable many people can be.

I’m ready for my label and insult now

Did I make you come here? – Garth

#271 Shawn on 09.28.22 at 10:57 am

Is the Bank of England Printing Money Today

#250 epic bear on 09.28.22 at 7:13 am

BANK OF ENGLAND: BANK WILL CARRY OUT TEMPORARY PURCHASES OF LONG-DATED UK GOVERNMENT BONDS FROM 28 SEPTEMBER
_________________________________

is that printing money?

*******************************
Channeling Bill Clinton: “It depends on the meaning and definition of the term “printing money”.

Actually this being the we we live in the answer to your question is “yes or no” depending on what you would like the answer to be.

Many will call what they are doing printing money since they pay for bonds out of basically thin air. The bank of Canada wrote that this is NOT printing money. (I think they got advise from Bill Clinton)

#272 crowdedelevatorfartz on 09.28.22 at 11:00 am

@#268 Millmech

Logistic construction supplies piling up.
Sounds like it’s started.
It’ll be interesting to see when some of the half complete condo towers get shelved due to lack of sales and no money.
Next Spring and Summer should be a real eye opener.
My business is somewhat recession proof but I wont be unscathed.

#273 PBrasseur on 09.28.22 at 11:01 am

Socialism is death, partial socialism is also death, but slower. UK, Europe and soon Canada can no longer sustain their massive public sectors without their central banks buying bonds. In other word in the face of productivity falling like a stone sustain demand and spending by printing money.

How much longer does this charade last without major disruption?

The solution is urgent (possibly too late), shrink government drastically to make room for more productive free private sector. Lower taxes on investors, businesses and the rich in general. At least the UK is doing some of that.

The UK economy is now circling the drain and Truss is exacerbating the problem. – Garth

#274 Faron on 09.28.22 at 11:03 am

#238 Sail Away on 09.28.22 at 1:13 am
#205 Faron on 09.27.22 at 10:15 pm

Oh, your theory is exactly the same as US Secretary of State Anthony Blinken’s, as reported in the WSJ midday today?

Ba haa haa ha. Uh, yes. There’s no other way to say it but yes.

Believe it or not, it’s possible for two people to reach the same conclusion independently although I’m sure Blinken has a more nuanced view given his superior knowledge and access to intelligence.

Finally, unlike you, I wasn’t sitting around at work reading the news yesterday (charging clients the shop rate of $100s an hour?). Happy to send you my browser history, but I’m sure you will slunk away from this blunder quietly. LOL.

#275 Rob on 09.28.22 at 11:04 am

Hi Garth. Thank you for writing this blog every day. I really appreciate it. I think you should turn off the comment section! Cheers.

#276 Linda on 09.28.22 at 11:07 am

About Nord Stream 2 pipeline – it is owned & maintained by Gazprom. Unfortunately Russia does not tend to maintain their infrastructure very well. Those who are appalled by Canada’s track record of pipeline spills etc. should check out what happens in Russia – always supposing they can get accurate information, that is. However, have been told eye witness accounts of pipes literally spurting oil which, when the Canadian in the passing vehicle got excited about & wanted to report was told ‘Oh, that is a landmark’. In other words, had been leaking for years.

#277 Sail Away on 09.28.22 at 11:09 am

Canada has banned uncontrolled dog immigration:

https://www.blogto.com/city/2022/09/canadian-ban-imported-dogs-100-countries-comes-effect/

#278 Steve on 09.28.22 at 11:31 am

The Bank of England is buying bonds. The Bank of Japan is buying bonds. The ECB is buyings Italian bonds, and will buy other countries too, to control the spread with Germany. How much longer can Canada and the US avoid the inevitable?

The only way out of the debt spiral is to normalize inflation at 4%, claim victory, and control the yield curve at the long end.

Please think about how this affects the bond portion of your portfolio. You are picking up nickels in front of a steamroller. How does this affect the value of your currency?

Debt is a 400 trillion dollar market. Pension funds and banks are mandated to buy debt – how is this going to affect their returns and your pension?

Where is that money going to flow? Think about it.

#279 Dr V on 09.28.22 at 11:35 am

Looks like a little green to start the day…..

#280 Hank Scorpio on 09.28.22 at 11:40 am

Trying to remember an exact quote from Smoking man from many years back.

“People are usually ok, its tribes you need to worry about”

#281 Faron on 09.28.22 at 11:45 am

Ian hitting as near cat 5. 18 ft storm surge possible. This is gonna be ugly. Here’s the text analysis from those “hack weathermen” AKA pros:

Air Force Reserve and NOAA Hurricane Hunter data was absolutely critical this morning in diagnosing the rapid intensification of Ian, despite both planes undergoing multiple eyewall penetrations experiencing severe turbulence. That data supported an intensity of about 135 kt a few hours ago. Since that time, high-resolution Tampa Doppler radar data has been sampling the eyewall near 10,000ft with winds up to 155 kt, indicating that Ian is on the threshold of category 5 status. The maximum winds are set to 135 kt on this advisory.

Ian is expected to make landfall in southwestern Florida in the next few hours as a catastrophic hurricane. No changes were made to the track forecast near Florida, except to be faster to come into line with the latest consensus aids. One important change is that Ian is likely to remain more intact as it crosses the Florida peninsula (due to both its stronger initial wind speed and its faster forecast forward speed), and this now increases the threat of hurricane-force winds on the east coast of Florida. This necessitates the issuance of a Hurricane Warning on the east coast of central Florida. While significant re-strengthening of Ian might not occur over the Atlantic Ocean, model guidance has been catching up with a trough interaction from a shortwave over the southern United States, and are stronger than yesterday on Ian’s intensity with more baroclinic forcing. Thus, a Hurricane Watch has been issued from northeastern Florida northward up the coast through most of coastal South Carolina. The new intensity forecast is raised from the previous one, near the latest statistical-dynamical guidance.

These forecasts save lives. Ian has been in the models for more tham a week giving planners time to prepare. STFU with your anti-science stance. A terrible look.

#282 West New West on 09.28.22 at 11:46 am

Dear Marcus…..you need help. Its probably something that was done to you in childhood that is causing you to act out in this way now. A few personal sessions with a local psychotherapist will probably benefit you and those around you greatly. You will understand why you are so angry at life and why you lash out like you do. Good luck.
PS…Garth is not your father.

#283 Pbrasseur on 09.28.22 at 11:46 am

Garth – Truss inherited a mess in the UK, the goal is to help (more like get out of the way) of supply (productivity) with tax breaks for the rich while the CB is curbing demand, measures designed to slow inflation. But also I suppose she has to spend to maintain some level of social peace in the face of exploding energy cost, hopefully a temporary situation.

Not sure it’s going to work, but short time turbulence is better than long term decline like much of the rest of Europe.

The IMF is warning the UK that this is a path to more borrowing, more inflation and higher interest rates. Not good. – Garth

#284 Nigel Baker on 09.28.22 at 11:46 am

Thank you Garth!
I read your blog fanatically, then I look like a genius.
“Nobody predicted…” they say. Well, Garth did!
Thanks a million!

#285 KS Calgary on 09.28.22 at 11:54 am

I am horrified.
Thank you for the advice and insight you’ve shared.
I’ve faithfully read and shared your blog for well over 10 years now.

Appreciate you and your team.

#286 Bonobo on 09.28.22 at 11:58 am

I’ve been reading your blog for many years now and have found most of your financial advice great. The one major difference I have with you is that I think it is better to pay off your mortgage as soon as possible. Sometimes it’s not about making a few thousand extra dollars on the spread. Turns out it is similar to gambling.

At least with a paid off home you don’t have to worry about the s***storm that comes every now and then – witness today’s inflation and incoming high mortgage rates.

Perhaps if you didn’t knock paying off the house early so much then we could be bosom buddies.

Now if we could only persuade you to trust that PP is the correct vote for Canada’s future and that we need a socially conservative goverment then perhaps I would move into your basement and mow your lawn and shovel the snow for you.

(Sorry you got that stupid email – you and your wife don’t deserve that. It was plain ignorance.)

#287 DC on 09.28.22 at 12:06 pm

Hello Garth.

Daily reader here (well over five years now). I too would happily pay some sort of subscriber fee for continued access to The Greater Fool.

Why you continue to allow ‘comments’ is beyond me. Some are well thought-out and useful, but the growing majority carry no merit whatsoever. You must be a glutton for punishment.

DC

#288 Observer on 09.28.22 at 12:09 pm

Here’s an example of where renting sucks. I’ve been renting the same bungalow for 8 years. It has (or should I say had) 30 foot hedging surrounding the entire back yard. Was excellent privacy. And between the hedge and a short, 3 foot chain linked fence, my dogs could never escape.

The LL told me they were going to “trim the fence” which I presumed meant “trim the hedges”, but instead, yesterday they removed all the hedges. Now not only is my privacy gone, but the dogs can scale the fence.

End of rant.

#289 Sail Away on 09.28.22 at 12:24 pm

#280 Hank Scorpio on 09.28.22 at 11:40 am

Trying to remember an exact quote from Smoking man from many years back.

“People are usually ok, its tribes you need to worry about”

———

Humans are fantastic at forming tribes, distributing information, and waging war. It’s the secret to our overwhelming success. When no apparent enemy is present, we create one by picking away at scabs until it causes trouble. Similar to the immune system in a sterile environment attacking the very body it’s supposed to protect.

All humans are the same and also fully capable of creating massive chasms for no reason whatsoever.

When training animals, you have to be very cautious channeling instinctual behaviour. The lizard brain is real. A dog’s first year or so is mostly instinct and a lot of hunting breeds can be a pain for the first couple of years… but when you really examine their actions, you can spot the instinct overruling ‘house rules’. The best trainers direct the instinct as unemotionally as possible.

People can be trained in exactly the same way. We instinctually want to fight for our team.

#290 Faron on 09.28.22 at 12:25 pm

#257 Oakville Rocks! on 09.28.22 at 9:12 am
@#205 Faron

Thanks for that reminder. When you say “Had the opportunity to look at Jupiter through some nice glass this morning.” do you mean a decent pair of binoculars or you had access to something even better through a friend in the Physics/Astronomy Dept?

Unfortunately, just a nice pair of binocs.

#291 Steve on 09.28.22 at 12:25 pm

If you are a conservative investor and you have 40% of your portfolio in bonds, you have been hammered this year. Now, imagine you are British. If you are saying it doesn’t matter, I will hold the bond until maturity, think about what kind of paper you will be receiving in 5, 10, or 30 years. You will be paid back in a currency that may have lost 100% of its value.

Bonds are not risk free. Watch credit. It’s a 400 trillion dollar market, and not enough people think about it.

There is no way out for sovereigns. They must inflate their debt away. That means 4% inflation and yield curve control. Smart money knows this.

Where is the smart money going to go? Ask yourself what has been the best store of value over the last 13 years?

#292 Slim on 09.28.22 at 12:26 pm

“Britain – maybe henceforth England, if the Scots and Irish depart – will become a middling power….”

https://ericmargolis.com/2016/07/sticky-wicket-chaps/

Looks like Eric Margolis got it right about Brexit. This is what tribalism is going to look like.

#293 chalkie on 09.28.22 at 12:27 pm

Reality is, Marcus Aurelius could you a few psychiatry visits, for sure there is a few crossed wires somewhere in his brain.
Keep up the great blogs Garth, we enjoy them immensely.

#294 Damifino on 09.28.22 at 12:29 pm

#286 Bonobo

It was plain ignorance.
————————————-

Plain old ignorance is the standard fare.

It was significantly more than that.

#295 Bdwy on 09.28.22 at 12:45 pm

2087-E-PENDER-STREET-Vancouver-BC/

probably not the most desirable parts of town, 

……
Which gives it plenty of room to improve.

That stretch of hastings is about to undergo a big shift. In 10 years every last dumpy legacy bldg will be a shiny new condo. The 7/11 plaza just behind this place just put up the sign. Across the street is 11 floors going soon.

Far enough from dtes to fully gentrify just need to lose the stinky chicken plant and stinkier rendering plant.

#296 crowdedelevatorfartz on 09.28.22 at 1:00 pm

@#281 Faron

A Cat 5 ( winds speeds of at least 155 miles an hour or 245kph) with 18 ft storm surge in …flat as a griddle Florida?
Not good.
They will be hammered big time.

#297 Faron on 09.28.22 at 1:03 pm

DELETED

#298 Faron on 09.28.22 at 1:12 pm

#297 Faron on 09.28.22 at 1:03 pm

DELETED

Fair! Sorry Garth.

#299 45north on 09.28.22 at 1:19 pm

twisted_sisters Stress tests won’t be altered but you are not denying that the much longer amortizations are out of the equation?

longer amortizations sound good when they’re announced but don’t look so good when they default. Problem is they are multi-generational. Illegal.

#300 SunShowers on 09.28.22 at 1:21 pm

“#270 Meh on 09.28.22 at 10:48 am
When was the last time anyone wrestled an apology from you Garth? I’ve never once read an apology or admittance of being incorrect on your part.”

What would you like him to apologize for? He’s correct about Canada not having “uncontrolled immigration”. I have a friend in the US with a masters degree who wants to get out of the country, and Canada won’t even look at him unless he already has a job offer here. Sounds pretty controlled to me.

#301 jess on 09.28.22 at 1:55 pm

parent plus student loans …predatory?

image 3 kids now your 66 and owe 300k ouch
https://www.newsweek.com/2021/07/30/parent-loans-fraught-peril-default-rates-hit-20-30-percent-many-colleges-1610943.html

#302 Shawn on 09.28.22 at 1:56 pm

Canada’s Population EXPLODES in Q2

Report just out from Stats Can shows Canada gained 285,000 people in Q2 alone largely due to the Ukraine situation and other asylum seekers.

Canada’s population was estimated at 38,929,902 people on July 1, an increase of 284,982 (+0.7%) from April 1.

https://www150.statcan.gc.ca/n1/daily-quotidien/220928/dq220928b-eng.htm?CMP=mstatcan

#303 Swanson on 09.28.22 at 2:14 pm

Sorry that you have to deal with cruel, nameless cowards hiding behind their keyboards. Many of us love you, your colleagues, and this blog.

#304 Steve on 09.28.22 at 2:20 pm

Imagine you were someone who knew that the BOE was going to step in and purchase all of the hot garbage on sale to stabilize the gilt. Those people and institutions made about 25% in 4 hours today. Wonder who they were?

Imagine using QE to stabilize and bail out pension funds when inflation is running at 10%. Wow, I could have done some damage if I knew that was coming.

Do you think our banks and pension funds here in Canada don’t carry the same amount of “risk free” bond exposure?

What breaks next?

Inflation and QE by another name will be this generations play. Where are you going to park your money.

I’ve never believed that things are different this time, however, this time it is different.

#305 Jeff Burke on 09.28.22 at 2:30 pm

Only here to echo positive sentiments to you and D, sir.

#306 Joe P on 09.28.22 at 2:51 pm

Garth,

Your writing has changed people’s lives for the better. Keep writing.
Joe

#307 earthboundmisfit on 09.28.22 at 3:10 pm

Sorry to read about the abuse you and your better half were subjected to recently. Dirt-baggery is far too prevalent these days. Thanks again for the blog … best personal finance writing on the web-o-sphere, free and no ads. It’s well worth the time spent (although one can’t really say that about the comments section).

#308 Silent the people on 09.28.22 at 3:27 pm

I don’t know Dorthy but I have gotten to know you over the years of this blog. Thank you for all you have done to make our life better financially and I hope you continue this blog. Comment section deserves scrapping….

#309 In Man I trust on 09.29.22 at 10:36 am

DELETED (Anti-immigrant)

#310 Rich B on 09.29.22 at 10:50 pm

Garth,

So sorry you and Dorothy have to put up with these idiots. Your blog has helped us so immensely, with no cost.

Rich B
Dundas, ON.