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Irony. It describes something deliberately contrary to what you thought should be. Like, ‘it’s ironic that such a muscular and manly blogger would be so sensitive and empathetic.’

Here’s another: ‘Surging mortgage interest is deflating the real estate market fast while swelling the inflation rate, pushing up rates.’

Which of those ironic statements is gospel? Both, of course.

So it’s true. Home loan costs have exploded higher in 2022 as the central bankers ratchet up rates in order to help dampen the economy and douse the property fires. But because we little beavers are so indebted, those higher rates are putting upward pressure on inflation as people renew fat mortgages or set up new ones. And after Wednesday morning we know what the outcome will be next week.

The inflation rate year/year is down a tad. On a monthly basis, it is unabated. Energy is cheaper but food is crazy. The annual price increase for stuff you eat is 11.4%, the biggest pop since back in 1981. Combined with the enormous hike in debt service costs, it means the nation has made scant progress in getting costs under control.

Gas prices have dropped substantially but economists at RBC say that just doesn’t matter. “Given that those prices have since reversed, the next month could see headline inflation temporarily heading in the wrong direction again. But that is not the main focus for the Bank of Canada, who is paying closer attention to core inflation. CPI excluding food and energy rose by 0.4% seasonally adjusted on the month, faster than last month, and at a pace that’s too high to be consistent with the 2% target.”

The bankers add we should now expect the CB to hike another, aggressive, 75 bps next Wednesday. That will take its benchmark to 4%. The chartered bank prime will be 6.2%. Bank variable-rate mortgages will become 6%. HELOCs jump again, to about 7%. Reverse mortgages go to just under 10%. Subprime loans from Al’s Donairs, Jems & Mortgages will be at, well, don’t ask.

How certain is this?

“OIS (Overnight Index Swap) pricing for next week’s BoC decision has moved from pre-data pricing around 60bps to over 75bps now as a three-quarters of a percentage point rate hike is now fully priced,” says Scotiabank’s economist Derek Holt. “All core CPI measures were hot… Price pressures continue to fan out across a larger and larger share of the economy.”

Bond yields increased on the inflation news, so expect a bump-up in fixed mortgage rates in the next week or so. Also on the agenda is another rate hike on December 7th. If the inflation data tempers a little, it will be 25 bps. If things stay about the same, then half a point is possible. So just add that to the numbers above.

Here’s one more analysis: “Bluntly, inflation did not ease as much as anticipated last month, even as gasoline costs took a big step back,” says BeeMo’s Doug Porter. “Underlying inflation remains extremely persistent and sticky… Combined with the BOC’s recent tough rhetoric, the recent weakness in the Canadian dollar, and the strong likelihood that the Fed hikes by 75 bps at the next FOMC, we are now expecting a like-sized 75 bp hike next week from the Bank. This would take the overnight rate to 4.0%, and we suspect that will not be the end of it—pencilling in a 25 bp move in December.”

As stated here a few times, close to half all households in the country have mortgage renewals coming up within the next 18 months. There are people who took out loans in 2018 and 2019 when a fiver cost 4% and BeeMo offered a 2.45% variable. Harder hit will be those who renew sub-3% fixed and 1.5% variable home loans in the year that follows – because we’ve hit a new normal. CBs may pause rate increases, but they’re certainly not going to slash as they did when Covid hit. Everybody learned, painfully, that doesn’t work.

So higher mortgage rates are coming. That means more spending on debt service charges, which will offset any savings that drops in food or energy might bring. Meanwhile house prices are going down yet they’re harder to buy – with a stress test zipping above 8% and monthly payments swelling like a bad zit. And there’s nobody to blame but us.

How ironic is that?

About the picture: “Aside from the free, daily financial advice, your blog also inspired our family to get a dog,” writes Joe. “We brought Ringo home in December 2020.  He’s a Rough Collie with boundless energy – he needed a job (other than herding children).  He enjoys agility training, tracking and is starting advanced obedience next week.  When he’s not over-achieving, he enjoys lounging in piles of leaves and playing frisbee.”

153 comments ↓

#1 GratefulCanadian on 10.19.22 at 3:30 pm

What’s truly ironic regarding inflation is that people simply accept it, as if it’s God’s will. Which then inevitably brings more inflation.

#2 UCC on 10.19.22 at 3:32 pm

Like, ‘it’s ironic that such a muscular and manly blogger would be so sensitive and empathetic.’ -Garth

I just spat coffee all over my key board-then rotflmao…….that was good Garth….

#3 chalkie on 10.19.22 at 3:35 pm

If there is any good news in all of this over the past couple of days, I was not able to find it.

What are the leading experts telling us about the economy and where home prices are headed? Everything points to a rough road ahead, the Pandemic put a little craziness and paranoia into all of us, we are stuck in the bottle neck at best, with a slow leak to empty.

Jeremy Siegel warned home prices will post the second-worst crash since World War II in the next 12 months.

Amazon founder Jeff Bezos has become the latest corporate leader to warn about the state of the economy, cautioning that rougher times are likely ahead.

CEO David Solomon warned Tuesday that the U.S. economy might be headed for a downturn that will make investing and business decisions more difficult.
Home price drop within ‘striking distance’ of the last big downturn — and it’s not over yet
Sept 19th, 2022: RBC sees home prices falling 14% before the dust settles

“I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s time to think more cautiously about your risk box, your risk appetite,” Solomon said during a live interview on CNBC.

JPMorgan Chase CEO Jamie Dimon said the U.S. economy was “actually still doing well” at present and consumers were likely to be in better shape compared to the 2008 global financial crisis when the world tips into recession.
“But you can’t talk about the economy without talking about stuff in the future — and this is serious stuff.
This downturn will be noticed by everyone.

Canadians, buckle your seat belt and prepare for a little turbulence in the coming months. Oxford Economics warned investors to prepare for a hard landing for Canada’s economy. The research firm attributes the coming shock to high debt loads, elevated inflation, and rising rates. The resulting shock is forecast to lower home prices around 30% from the peak.

Olivia Bowden, staff reporter Toronto Star: King Township homeowners struggle with ‘new normal’ after 50% price plunge.
Those selling their homes in the township of King Ontario, will not be getting what their neighbors got early in the year, NOT even close. Realtors are asking sellers to be flexible in pricing their homes.

Example how percentage values work: A home that was bought in 2019 for 1 million, sold in 2021 for 1.5 million, there was a gain of 50%. This same home, if it drops 50% in value, will now be worth $750,000, a loss of $250,000 from its 2019 value, “ouch”, ¼ million, to the negative. Realtors can sure figure, but figures don’t lie.

The Bank of Canada is closely monitoring debt burdens being shouldered across the economy over concerns they could become a threat to financial stability as interest rates rise, senior deputy governor Carolyn Rogers said this week, an acknowledgment of the balancing act the central bank faces as it combats inflation.

Money markets see a 66% chance that the Bank of Canada would raise interest rates by three-quarters of a percentage point at its next policy decision on Oct. 26, up from about 30% before the data.

The Teranet–National Bank National Composite House Price Index fell 2.4 per cent from July to August, on an unadjusted basis. It was the largest monthly decline recorded since the index started in 1999. On an adjusted basis, the index fell 2.1 per cent, month over month, also a record and the fourth decline in a row.

The Bank of Canada has clearly not slayed the inflation dragon yet and therefore set for another large rate hike next week, ¾ percentage is more of a reality then the ½ percentage as some analysts are predicting.

Once everything finds a footing, home prices will be sideways for a good many years, no since in rushing in to buy, same deals once settled, will be around for a long long, time to come.

Your best deal is somewhere out there, many months out yet, don’t be in a hurry, selection will be better and prices will be much more discounted. By keeping your money now, this will give you a larger down payment against a much lower priced home in 2024. There is a good 15% to be shaved off the home prices yet in front of us.

Quote of the day: When all else is lost, the future still remains

#4 Lisa on 10.19.22 at 3:37 pm

Hi Garth!
My sister is getting a little hot under the collar for some RE.
I think she should wait until the rates take affect and prices lower but in case she doesn’t, what do you suggest as a down payment??

#5 Felix on 10.19.22 at 3:39 pm

More dogawful mutt photos?

No, less. Please.

#6 Joe on 10.19.22 at 3:40 pm

6.9%

#7 Stephen on 10.19.22 at 3:41 pm

Hi Garth, quick question regarding interest rates hikes. Most economists that I have read state it takes about 12 months to see the effects of interest rate hikes, ours didn’t start till March 2022. Does this not mean we really have no idea what the current rate increases will do to the economy and then it seems that inflation today is being used to justify additional larger increases, when inflation is coming down without the impact of rates rising yet. Any thoughts?

#8 cuke and tomato picker on 10.19.22 at 3:42 pm

I think that the Dec7th bps should be .50 for none other
reason than to give borrowers a reality check cheap money has to stop because it makes it too easy for people
to get in over their heads and .50 will send a message.

#9 Josh Feldman on 10.19.22 at 3:46 pm

Seeing a lot of homeless guys who are middle aged, White and they used to work in blue collar jobs in small town Ontario.

The housing bubble has affected that demographic a lot. Lots of them are in the TTC buses, subway stations and they have nowhere to go.

They used to have jobs, own homes until they were priced out due to the COVID mania.

The politicians don’t care about that blue collar demographic.

Many have told me that they were bussed into Toronto to hide the homeless problem in the smaller towns.

Imagine being homeless in your own town that you grew up in.

#10 Faron on 10.19.22 at 3:46 pm

#164 Old Boot on 10.19.22 at 2:12 pm

So…

what you are telling me is…

…you used to work at WorkSafeBC?

NB: I really love that you seem to be trying to engage me in conversation even though you hurled that option out the window long ago and continuously re-defenestrate it. Once, recently, when you reposted a certain tweet of mine to “win” an argument (AKA, shame me into silence AKA cancelling).

Sadly, you and I have about 70% common ground including some here and on the overdose epidemic. Unfortunately, your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

Sorry.

#11 Sail Away on 10.19.22 at 3:47 pm

‘It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.’

-Teddy Roosevelt from his speech ‘Citizenship in a Republic’

#12 JSS on 10.19.22 at 3:48 pm

The time has now come to eat less. Since many won’t be able to afford to eat. Before bed, have about 3-4 glasses of water to fill that stomach, and don’t eat until lunch time the next day. Don’t watch Food Network either. And chew your food slowly to maximize the food enjoyment.

Intermittent fasting – higher inflation – higher interest rates…all interconnected ;)

#13 Sunny South on 10.19.22 at 3:49 pm

In these days of rising rates and economic uncertainty, the financial recommendations made in this skit seem to appropriate. Truly educational TV.

https://www.youtube.com/watch?v=bXId5jOTxdg

#14 nothing surprises on 10.19.22 at 3:50 pm

The bankers add we should not expect the CB to hike another, aggressive, 75 bps next Wednesday – Garth.
…………………………………………………………………………..
Shouldn’t this be “we should expect” ?

#15 Søren Angst on 10.19.22 at 3:50 pm

21 days to go until the US Midterms.

Biden draining their distillates reserve to 1951 levels and more to be released.

https://twitter.com/lisaabramowicz1/status/1582383035231543296

Suppressing energy costs.

22 days from now energy costs will start to go up again.

And so will inflation.

Sept a respite.

Oh ya, yeah oil.

#16 Groovy69 on 10.19.22 at 3:53 pm

Let those interest rates rise and crush the fools that overpaid for housing and pickled themselves in consumer debt.

#17 epic bear on 10.19.22 at 3:54 pm

wow. look at those interest rates skyrocket. 5 year Canada’s now 3.74%, highest since Jan 2008, and going higher.

yes. bad for housing. know what else it’s bad for? stocks and bonds. currencies other than the USD have been collapsing. bonds have been eviscerated. stock traders are the dumbest of the bunch. their turn is next.

FED FUNDS going to 5% will kill stocks. will kill the economy. will kill housing. only THEN will “inflation” come down.

the bear market is maybe half way done. maybe.

#18 Bald and Bankrupt aka Benjamin on 10.19.22 at 3:55 pm

Vladimir Putin helped exacerbate inflation, which will make young single men more likely to join a foreign enemy hostile to their host countries.

In other words, Russia is doing a chess move to get the citizens in the NATO countries angry at their politicians.

Vladimir Putin might also do a Great Reset by activating a nuclear weapon to reset the global economy.

#19 Søren Angst on 10.19.22 at 3:56 pm

#81 Dogman01 yesterday, incl. numbers below

NXF.B a better choice for stock price growth vs. NXF (former YTD 31% vs. latter 21.78%). NXF.B more expensive to buy at $7.64/share CAD vs. $6.38/share CAD for NXF. NXF.B has a dividend yield of 8.26% vs. 10.31% for NXF.

Both diversified in energy company holdings in N. America, with the exact same companies and weightings.

https://seekingalpha.com/symbol/NXF.B:CA/holdings
https://seekingalpha.com/symbol/NXF:CA/holdings

Dividend $/share, both pay almost the exact same amount.

https://seekingalpha.com/symbol/NXF.B:CA/dividends/history
https://seekingalpha.com/symbol/NXF:CA/dividends/history

It makes no sense to me paying more per share to get about the same $ dividend/share.

For example, last qrtrly div payment was $0.24/share for NXF vs. $0.25/share for NXF.B. The NXF share cost $6.38 to buy vs. $7.64 for an NXF.B share. With NXF.B you are paying $1.26/share MORE in purchase price to earn $0.01/share more in dividends.

Having said that, NXF.B has a higher stock price growth rate so if you are young it will give you a higher end value over time and it is less risky with no covered calls, Beta of 1.2 for NXF.B vs. 1.5 for NXF. NXF is more liquid with a trading volume of about 40K shares per day vs. NXF.B at about 10K – still, low trading volumes vs. my other Cdn ETF at 130K shares per day.

https://money.tmx.com/en/quote/NXF.B
https://money.tmx.com/en/quote/NXF

Only thing I DO NOT LIKE about NXF is the DIVIDEND TAX RATE AT SOURCE.

25%

Both hold the 15 largest N.A. stock exchange energy company holdings, so not ALL Cdn even though NXF/NXF.B HQ is in Trauma, ON. My other Cdn ETF tax at source is 15%, it’s not ALL Cdn either in its holdings – so GO FIGURE. Why the whining by me. Hey, it could be worse at 30% for a US REIT.

GLAD (sarcasm) to help Gov Canada + CRA out with a +10% higher dividend tax rate at source.

… Apparatchik children born out of wedlock that they are.

ANNOYINGLY, TD WebBroker shows NXF in the Account Details view with a Cdn flag next to its stock ticker. Clearly, no one there has checked out the div tax rate at source.

——————–

NXF: I’m a retired Paleo. Spend less $$$ to get the same dividend cash flow. Want a bigger bang for my buck NOW, closer to Death’s Door.

NXF.B: For the young in it for stock price appreciation long run, less risk as no covered calls and the divs beat inflation.

#20 Property Accountant on 10.19.22 at 3:57 pm

“Inflation is just like alcoholism; In both cases, when you start drinking or when you start printing too much money, the good effects come first, and the bad effects only come later. That’s why in both cases there is a strong temptation to overdo it—to drink too much and to print too much money”.

Milton Friedman, Nobel Prize winning economist.

#21 Søren Angst on 10.19.22 at 4:00 pm

#65 Sail Away yesterday.

THAT was good.

You know what I liked best from the AB “Search Provincial Pheasant Release Sites” web page is this cautionary note in Red text, Red background color:

“Attention Pheasant Hunters: If you see the release truck on site, please refrain from shooting until the truck has left the property.”

[Kmart mic drop]

You know SA, it’s pretty bad when you have to tell people that.

The poor pheasant, just out of their release truck looking for some food handouts, head petting, perusing their new non-farm environs for a minute or so and then … a Tsunami of #7-½ lead shot headed their way.

Hopefully, no Release Truck personnel were harmed by the “hunters”.

https://www.ab-conservation.com/programs/wildlife/provincial-pheasant-release-program/search-release-sites/

#22 PBrasseur on 10.19.22 at 4:08 pm

Rates of all kinds are still way below inflation, meaning most lenders are losing money and will keep losing money as long as that remains.

How crazy is that and more importantly how sustainable?

Seems to me inflation has not been a problem for so long people have forgotten what it is and totally underestimate the damage that it can do.

We’ll soon find out won’t we…

Still, debtors are already paying more and that includes our governments, that party is just getting started!

#23 TurnerNation on 10.19.22 at 4:10 pm

To everyone chirping NXF.TO congrats the buy signal is here. US Big cap oils, OIH.US XLE.US.

——–

Dear BOSS, sorry I am unable to return to the office. Additionally, I am suffering from Dwight Guilt.
Being in the confines of a cushy office serves as painful and visible reminder of my privilege.
(That, a vulnerable or marginalized person is not in my seat.)

Combined with my LONG CORVID and Climate Anxiety, this will be a permanent WFH.

Signed, WFH 4EVER

#24 Soviet Capitalist on 10.19.22 at 4:14 pm

Trudeau is passing policies to reduce the output of Oil/Gas and agricultural sectors in Canada. That means less supply and persistently higher prices for those kinds of items.
He claims he is doing it to save the planet. I say he does it because those businesses are mainly in Alberta and Saskatchewan where voters don’t love him enough.

#25 Don Guillermo on 10.19.22 at 4:16 pm

#165 Ponzius Pilatus on 10.19.22 at 2:12 pm
54 Steve Bigguns on 10.19.22 at 1:32 pm
#149 Ponzius Pilatus on 10.19.22 at 12:57 pm

“People who just quote famous people, have nothing original to say.” – Ponzius Pilatus

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

Easily one of your dumber comments. You’re no Churchill.

And you can quote me
—————————
Sorry, to disappoint you.
No one can out-quote Churchill.
But, Mark Twain, maybe?
######
I’m sure Yogi Berra has them all beat.

#26 Gone For A Long Long While on 10.19.22 at 4:20 pm

Even with the two hikes about which you speculate, rates are still far too low: 4% is measly IMO. Need to get them up to 6-7% range by spring.

#27 the Jaguar on 10.19.22 at 4:22 pm

It isn’t just the current train wreck in front of us, which is bad enough. It’s what’s around the corner when more peeps are forced to return to the office, when China cracks the window open again on its economy and needs the fuel to execute whatever strategy they’re cooking up, and when western Europe finally wakes up and realizes transporting LNG across the ocean isn’t really a viable long term alternative. Whatever happens in Ukraine, bridges have been burned and former friends and alliances have made new friends and closed ranks. There is no return to ‘normal’ or the past.

No attention is paid to this in much the same way no attention is paid to Sweden announcing they don’t feel they can release results of their investigation into Germany’s principal source of energy being blown up because ‘it’s just too sensitive’. Well, at least it confirms ‘who it is not’ or they would be seizing the opportunity to blab it all over the internet. Any reason the proposed new Gas Hub in Turkey isn’t front page news?

Big world problems, but Joe Average whose job depends driving to work and back each day, dropping junior at daycare, etc. might wish to pay attention given the price of oil isn’t at Canada’s discretion no matter how many dead dinosaurs we have in the ground.

Nobody seems concerned about these events.
What’s shocking about the interest rate increases isn’t their arrival, but the rapidity of the increases in such a short period of time. No way they will be able to get to 2% without staying aggressively on course into 2023 and likely 2024. Never in history have people taken on such incredibly large mortgages and debt, and all signs point to a recession. Jobs get lost when that happens. I don’t see a lot of light bulbs going on.

Those of us with no debt who live simple and uncomplicated lives with investments and savings will be o.k. Those who will not don’t even appear to see what’s coming. They should be taking all measures to withstand the storm, but I am not seeing it.

#28 IHCTD9 on 10.19.22 at 4:24 pm

2023 is going to be a humdinger. Hank Jr said “A country boy can survive”, and Savannah said “A country girl can survive”.

https://www.youtube.com/watch?v=9eFCtoM-xF8

Mamma Mia!

#29 Michael in-north-york on 10.19.22 at 4:28 pm

#18 Bald and Bankrupt aka Benjamin on 10.19.22 at 3:55 pm

Vladimir Putin might also do a Great Reset by activating a nuclear weapon to reset the global economy.
===

Only if he wants to reset himself. Into tiny radioactive particles.

#30 Søren Angst on 10.19.22 at 4:32 pm

RE: Energy prices up after US Midterms.

Biden getting cocky.

Decided to Tweet 1h ago about how he is saving the US Consumer money on gas.

Well, the Replies icon number like a Vegas one arm bandit in motion.

https://twitter.com/POTUS/status/1582801254350143488

Jessica here, in my view, gets it …
https://twitter.com/JessicaBanner13/status/1582809146834812928

To add insult to accident, Biden figure he can replenish the strategic oil reserve at $67-$72/bbl.

Google Search result:

“Biden also announced that the administration will begin buying oil to replenish the strategic reserve when West Texas Intermediate, the U.S. benchmark oil price, enters a range at or below $67 to $72 a barrel. It was trading around $85.20 a barrel on Wednesday.”

Not even Lefty Google all that enthusiastic.

#31 omasare on 10.19.22 at 4:34 pm

#11 Sail Away on 10.19.22 at 3:47 pm

—————————-

Does this Roosevelt quote means you intend to repay all the COVID help your business got instead of bragging constantly about your investments? Maybe you could invest so ´wisely’ because you suck on governmummy’s tit so hard?

My biz didn’t meet gov help. Maybe your should have crashed and burned. Would have taught you some, very much needed, humility. My 2 pence.

#32 Doug t on 10.19.22 at 4:34 pm

GET THE POPCORN AND BEER READY – people that said this would NEVER happen must be clawing their throats

#33 Cash is King on 10.19.22 at 4:37 pm

Interest rates need to be 7-8% plus to keep Canadian money from leaving banks and heading to higher paying accounts elsewhere

Uppa Uppa to th moon Ethel.

#34 Faron on 10.19.22 at 4:38 pm

#11 Sail Away on 10.19.22 at 3:47 pm

who spends himself in a worthy cause

Quoth Sail Away who wakes up at 5AM to comment on this blog.

Also, where does it talk about the fraudulent like your pal Elon? Is it still cool when someone works rly rly hard at fraudulently taking people’s money? I guess we shall never know Roosevelt’s thoughts on frauds

#35 Get Back Loretta on 10.19.22 at 4:39 pm

We all live in a pile of leaves … a pile of leaves .. a pile of leaves

– Ringo (the dog)

#36 DON on 10.19.22 at 4:43 pm

#27 the Jaguar on 10.19.22 at 4:22 pm

Well stated Jag.

@Micheal in north york

“Good for you. However, did you study that particular little topic, history and the ethnic composition of the lands that make the eastern and south-eastern Ukraine today? If you did, then you should be able to post specific objections to my original statements.”

Who woulda thought it was the ethnic composition that started this whole mess in the past. It’s hard to debate with someone who said the War would be over in a few months and googles without considering the source.

Never underestimate your opponent.

#37 Sail Away on 10.19.22 at 4:49 pm

#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

#38 Beavis on 10.19.22 at 4:52 pm

Many of the sub-30s we know are still looking to buy. Supported by bank of mom and dad and a belief that interest rates will drop in 18 months.
Pure craziness.

#39 jess on 10.19.22 at 4:56 pm

innovative ways?

The Cash Monster Was Insatiable’: How Insurers Exploited Medicare for Billions

“By next year, half of Medicare beneficiaries will have a private Medicare Advantage plan. Most large insurers in the program have been accused in court of fraud.

…called doctors in during lunch and after work and urged them to add additional illnesses to the medical records of patients they hadn’t seen in weeks. Doctors who found enough new diagnoses could earn bottles of Champagne, or a bonus in their paycheck.

Anthem, a large insurer now called Elevance Health, paid more to doctors who said their patients were sicker. And executives at UnitedHealth Group, the country’s largest insurer, told their workers to mine old medical records for more illnesses — and when they couldn’t find enough, sent them back to try again.

Each of the strategies — which were described by the Justice Department in lawsuits against the companies — led to diagnoses of serious diseases that might have never existed. But the diagnoses had a lucrative side effect: They let the insurers collect more money from the federal government’s Medicare Advantage program.”

https://www.nytimes.com/2022/10/08/upshot/medicare-advantage-fraud-allegations.html

#40 Shawn on 10.19.22 at 4:59 pm

Will banks benefit from higher interest rates?

Their net interest margins benefit since some of their deposits pay zero.

But what about the idea that the higher interest rates will slow the economy? How so? Well, mainly by discouraging borrowing for consumption or investment.

Businesses and individuals will tend to want to repay loans and avoid borrowing. Or at least reduce borrowing.

Lower loan growth or even loan shrinkage is not good for banks. And since deposits get created by loans those will decrease too if borrowing decreases.

And this is all before thinking of the impact of higher loan losses.

So, hmmm.

#41 ogdoad on 10.19.22 at 5:02 pm

Love it, G. Ironic indeed (full. dis. don’t ask me to use ironic in a sentence…I’ll bring up a fire station…its all I got).

:):):):)

Back to Jason and Julie.

Jason: Hey, Hon? Just looking at your spreadsheet…mortgage, home/car insurance, taxes and heat hydro are coming in pretty high, eh?

Julie: ya, and i just heard that our variable might be going up again….looks like just more video games and robux for the kids this Christmas.

Jason: Told ya’ we shudda’ locked in…maybe you should consider selling the mazda! By the way, people across the street are wrapping their tesla and shrubs…should we be doing the same?

Julie: That, and since we’ve moved in our house value has decreased by 200k…shrubs?

Jason: what! Not true….checking youtube, now! how could you let this happen? That’s our nest egg!

Julie: what is? The shrubs or the house? The teslas’ just a remote control car for adults..

Jason: whatever…value of our house is falling?…what am i going to talk about at work. They only talk about the value of their homes…and how great their kids are…how successful their lives have been…the amazing stuff they do on weekends…no wonder we’re over weight and have mental health issues…

Jason: goin’ to the liquor/beer/pot complex…want anything?

:):):):)

Og

#42 Cici on 10.19.22 at 5:07 pm

#14 No surprises
” not” was supposed to be “now” = “We should now expect”

#43 IHCTD9 on 10.19.22 at 5:16 pm

#37 Sail Away on 10.19.22 at 4:49 pm
#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

——-

I say let him keep talking. We are already starting to see his bigoted homophonic nature via his replies to Old Boot. His Twitter is a horror show of white supremacy and straight white toxic male colonialism. Let him dig his own hole. Sometimes a dude needs to hit rock bottom before he seeks help.

#44 NOSTRADAMUS on 10.19.22 at 5:20 pm

THE DEVIL’S ADVOCATES FIRST COUSIN.
Devil Advocates have a first cousin and he is called a contrarian. Contrarians are slippery critters because they never really join the bull or the bear camps.
When one camp sucks in the crowd and the other camp has been reduced to diehards, contrarians start asking what could go right/wrong? Contrarians and Devil’s Advocates are like scouts sniffing out information trails. I guess you could call them point men. Unfortunately, on numerous occasions these point men get taken out by friendly fire.
On a lighter note, under personal development. In a blinding instant, just like you see in the movies, when some marauding FBI goons threw flashbangs into my bunker, I realized I didn’t give a sh*t anymore. Devil’s Advocate.

#45 Bill zufelt on 10.19.22 at 5:22 pm

Today the 10 year treasury hit the highest level since 2008. Back then the inflation rate was 3.84% and it is over double that(US) in 2022. If that isn’t a cue that rates go higher ,what is? Anyone talking of a pivot from these levels should be totally ignored.

#46 fasa on 10.19.22 at 5:25 pm

Listening to the US president (not Trump) today and want to talk about irony. He was on the news pleading oil/gas companies to invest in the future and produce more fossil fuels – the same future his party ran on saying we need to go more green and less fossil fuels…now that was irony :)

Also, tapping into the SPR to lower try to lower the prices before the mid term elections is all about politics – he looked straight into the camera and said it was not – all politicians lie to your face to serve their needs…never forget.

#47 Søren Angst on 10.19.22 at 5:33 pm

#17 epic bear

the bear market is maybe half way done. maybe.

——————–

I ‘dunno, you might be correct.

History though says otherwise – see Chart for Bear Market Bottoms by Month

https://finance.yahoo.com/news/two-stock-market-stats-giving-investors-some-hope-this-fall-morning-brief-100025696.html

Also:

“[T]he S&P 500 has risen in the year after every single one of the 19 midterm elections since World War II, with not a single instance seeing a negative return,”

Cautionary Note:

This year, in particular, has been an unusual one as the Federal Reserve has been explicitly beating down markets in its efforts to bring down inflation. And inflation continues to be persistently high.

——————

Flip a coin.

#48 Dragonfly58 on 10.19.22 at 5:33 pm

Some very basic food items. Plain old brown beans, name brand, not no name. They were everywhere for $1.00 a can less than a year ago. Now $1.25 a can and only that cheap if on sale, $1.35 or so regular.
Kraft dinner, my early 20’s son still likes it now and then for a snack. As long as I was buying the 12 packs I could always find it for quite a bit less than $1.00 a package . Usually $8.79 – $10. 99 for the bulk pack. Last 5 months or so always over the $1.00 a package mark, usually around $13.00 or more for the 12 pack. And that is once again a special ” sale ” price, regular is getting close to $15.00 in most places.
8% inflation ?

#49 Michael in-north-york on 10.19.22 at 5:35 pm

#36 DON on 10.19.22 at 4:43 pm

Who woulda thought it was the ethnic composition that started this whole mess in the past. It’s hard to debate with someone who said the War would be over in a few months and googles without considering the source.
===

If you want a debate then post something coherent. Do you believe that the the ethnic composition is relevant as a cause? Or not relevant? Who told you the war will be over in a few months? What did you google without considering the source.

So far you managed nothing but faint hints that nobody else can decipher.

#50 under the radar on 10.19.22 at 5:39 pm

2% Target rate is like trying to find a sold out toy at Christmas . Think of something else. How about 4%

#51 Søren Angst on 10.19.22 at 5:40 pm

#5 Felix

Here, some “kitty” relief for you.

Floppa, my fave YouTube Shorts cat:

https://youtube.com/shorts/sWgFb5C8I_4?feature=share

My idea of a cat, dog bone ornament and all.

I like the growl.

#52 Sail Away on 10.19.22 at 5:42 pm

#31 omasare on 10.19.22 at 4:34 pm
#11 Sail Away on 10.19.22 at 3:47 pm

Does this Roosevelt quote means you intend to repay all the COVID help your business got instead of bragging constantly about your investments? Maybe you could invest so ´wisely’ because you suck on governmummy’s tit so hard?

My biz didn’t meet gov help. Maybe your should have crashed and burned. Would have taught you some, very much needed, humility. My 2 pence.

——–

Well. Let’s have a bit of a confab since that’s a lot.

First, nowhere does Teddy discuss relief funds.

And yes, my companies most certainly did take all government monies on offer. The wage subsidy I would suggest was just the government transferring EI responsibilities to the private sector, because if not for this, we would have let a few people go to reach a sustainable outflow. But, because their wage was partially funded, we kept them on. Beneficial? Hard to say. By no means would we ever consider repaying this.

But the interest-free loans and grants? Oh baby. Between my two companies, this totalled $120k, with some repayable as interest-free loans and some free grant.

We’ve done great things with this.

Regarding investments, I do try my best to be accurate and legitimate by reporting history on trades previously identified here. It’s mostly just data, but it’s possible I may take a victory lap if justified.

#53 Ed on 10.19.22 at 5:44 pm

He coulda had Keystone XL
What a twit.

#54 Cow Man on 10.19.22 at 5:49 pm

Sir Garth:

Your writing is like fine wine. It improves every year that you age. Thank you for your skills and contributions to our lives.

#55 Reality check on 10.19.22 at 5:52 pm

3 chalice
Jeremy Siegel warned home prices will post the second-worst crash since World War II in the next 12 months.
—————-

And that’s his expectations for the US, where house price increases since 2008 are at least somewhat rational – about +80%.

Average Canadian house prices have increased about 150% since 2008. And that is from sky high 2008 Canadian house prices that did not correct.

Jeremy Siegel is a smart guy, if he’s thinking that kind of correction, look out below.

#56 Tom Selleck and Kurt Browning are SOOOO Sexy! on 10.19.22 at 5:52 pm

“… muscular and manly” certainly describes Tom and Kurt.

Just chill, everyone. Get a reverse mortgage and you’ll beat inflation and solve all your financial worries.

You’re welcome :)

#57 "NUTS!" on 10.19.22 at 6:02 pm

Our society has developed into the zero-accountability phase. It’s never the fault of the person affected, even though the product is a result of their own poor choices. There is always someone else to blame other than themselves. It will be no different this time around. Gorging on debt during record low rates will somehow be the government’s fault, and therefore demands for rescue will be plenty. And there will be politicians feeding this narrative with professorial statements designed to ensure they get elected. I have lost faith in the ‘right thing’ happening.

#58 Grumpy Panda on 10.19.22 at 6:02 pm

DELETED

#59 SHANE GALLANT on 10.19.22 at 6:13 pm

Investing in this country will be zero!

#60 Was at a provincial campsite ... on 10.19.22 at 6:28 pm

out here on the left coast this fall on my sojourn north to do a little ranching in the West Chilcotin. When the “campsite lady” showed up to collect after dark I replied to her question as to how many were staying in the spot with … “just two seniors.”
Man I could hear the disappointment in her voice. Total for the night … $9.00. All in. And just had my drivers license renewed as a senior … $17.00 Gotta love it …

#61 PBrasseur on 10.19.22 at 6:29 pm

A pretty good portrait of inflation in this country, history, causes and consequences:

https://www.youtube.com/watch?v=c3G77OJ8Q24

Plus it features some of Garth’s best buddies ;)

#62 Roofer on 10.19.22 at 6:33 pm

Dec 7 rate hike will also be .75% for the simple reason that US Fed will raise by at least that much. We can’t skew away else more inflation will be in the books for Canadians.

The funny thing is rate hikes are suppose to curb inflation but in some ways do the opposite as retailers adjust.

#63 Mattl on 10.19.22 at 6:40 pm

And what happens when all of consumer discretionary is directed to debt servicing with no rate relief in site? A long, deep recession. The economy simply can’t operate without consumers blowing their brains out on debt. I said a month ago that we are in the first inning, I think I was off, this is just batting practice. Lots of pain to come, personally I’m looking forward to a fantastic sale on boat and other toys. I suspect most people don’t know what is actually happening right now, this could easily be worse then the GFC.

#64 earthboundmisfit on 10.19.22 at 6:44 pm

Green Guys LOC (unsecured) 8.8%
Pass … but thanks for asking.

#65 Terry on 10.19.22 at 6:45 pm

Interest rates will continue to rise until something breaks. Then we will all be in damage control once again. Just wait for it. The upheaval will be very bad and brutal and what’s worse is there will be no immediate solution to stop the bleeding other than to let the world economies bleed out.

Good luck.

#66 Pylot Project on 10.19.22 at 6:52 pm

The annual price increase for stuff you eat is 11.4%, the biggest pop since back in 1981.

====

At least it’s still $2.50 for an eyeball, and a buck and half for an ear…. happy hour is here.

#67 TheDood on 10.19.22 at 7:08 pm

#63 Mattl on 10.19.22 at 6:40 pm
And what happens when all of consumer discretionary is directed to debt servicing with no rate relief in site? A long, deep recession. The economy simply can’t operate without consumers blowing their brains out on debt. I said a month ago that we are in the first inning, I think I was off, this is just batting practice. Lots of pain to come, personally I’m looking forward to a fantastic sale on boat and other toys. I suspect most people don’t know what is actually happening right now, this could easily be worse then the GFC.
____________________________

You are correct. The masses don’t have a clue what’s going on. Most think it’s a blip in the road and the gov’t will eventually step in and do something. Like the gov’t has some form of control over interest rates.

#68 Shirl Clarts on 10.19.22 at 7:08 pm

Maybe the government should do an audit on Loblaws and find out how much is gougeflation, because inflation is going down, but groceries are still expensive, and maybe even at all time highs.

And isn’t it a little timely (and suspicious) that Galen Weston is running a zero price increase campaign until 2023? Are we seriously falling for this ‘good guy’ act? I think it’s a smoke screen to protect their profits.

Yes, I’m aware an audit would be paid for by the tax payer.

#69 Nonplused on 10.19.22 at 7:26 pm

DELETED. This site will no longer offer you a platform for the parroting of pro-Russian propaganda. You are warned. – Garth

#70 Victor Llearna on 10.19.22 at 7:28 pm

If those stupid sheep hadn’t bid up prices into the stratosphere Canada wouldnt have such a problem with mortgage debt. Makes no sense that houses in the USA were like half the price, and salaries higher there with lower taxes. smarter sheep?

#71 Still 1M plus on 10.19.22 at 7:39 pm

It is a bit of a head scratcher that homes are still transacting in the million dollar ranges at current interest rate levels.

The cost is off the charts and it is business as usual for now, which I think keeps the BoC going to crush this craziness that the BoC basically created.

#72 Old Boot on 10.19.22 at 7:41 pm

#37 Sail Away on 10.19.22 at 4:49 pm

#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

————-

I dislike any form of censorship, so long as the speaker doesn’t sink to the level of singling out groups or individuals as deserving of hateful treatment.

Does Faron ‘hate’ me? He seems to think he does, although I would suggest that he simply hates the fact that I’m a woman who can debate unemotionally in the face of his own emotional incontinence.

What do I call men who hate women for failing to conform to male beliefs about female behaviour? Rank misogynists, that’s what.

He’s trying to provoke certain blog dogs into sinking to his level of discourse, and give him the drama he craves. Not my style, but he’s free to continue trying.

I’m not one of those fun feminists who think men can be feminists too. Faron thinks he’s a feminist because he supports women who provide access to their bodies in exchange for money. That’s not feminism; it’s male privilege and gas-lighting.

I’ve dealt with far more threatening and pernicious forms of misogyny than the arm’s length, garden variety that Faron represents. Let him add to his digital history of poor behaviour, so that when he hits rock bottom he’ll always have a tangible reminder of it.

#73 Quintilian on 10.19.22 at 7:42 pm

Two more B.C. real estate firms fined for anti-money laundering violations
Parent firm LeHomes Realty has been fined over half a million dollars for two breaches; Cathay Pacific Realty Ltd. was fined $206,250

https://www.vancouverisawesome.com/highlights/two-more-bc-real-estate-firms-fined-for-anti-money-laundering-violations-5979043

Hey Garth, what say you?
Yeah, yeah, insignificant right?

Isolated incident right?

There is no evidence criminals (or Chinese dudes, or Albertans) set real estate prices in BC. Get over it. – Garth

#74 macduff on 10.19.22 at 7:47 pm

As workers start to demand higher wages as a result of inflation (and given the tight labour markets) I can’t see how inflation will decline any time soon. That, and restaurant servers expecting 20% tips……

#75 Ottawan on 10.19.22 at 7:48 pm

Surging mortgage rates don’t swell inflation, their aim is to quell inflation.

Higher rates intend to put downward pressure on inflation, not upwards.

Have I missed something?

#76 Grumpy Panda on 10.19.22 at 7:53 pm

#58 Deleted. Clearly I won’t get to tell of a ##### who moved here and worked for cash for ###### years in ########. Too bad. That one is scary.

#77 kommykim on 10.19.22 at 7:54 pm

RE: #12 JSS on 10.19.22 at 3:48 pm
The time has now come to eat less. Since many won’t be able to afford to eat. Before bed, have about 3-4 glasses of water to fill that stomach, and don’t eat until lunch time the next day. Don’t watch Food Network either. And chew your food slowly to maximize the food enjoyment.

Intermittent fasting – higher inflation – higher interest rates…all interconnected ;)

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

Well, for the 8.3 million adults in Canada who are obese and the ten million who are overweight, that might actually be a good thing. Need to fight that waistline inflation. (Myself included)

#78 Econsensus on 10.19.22 at 7:59 pm

Despite the Sep 2022 YoY dropping to 6.9 from Aug 2022 YoY number of 7 per cent, inflation has not plateaued. Referencing the historical data of YoY inflation rates (link below) and comparing them to the latest YoY numbers indicate that inflation is still increasing month to month.

The YoY rate of Inflation in Aug 2021 was 4.1 and in Sep 2021 it was 4.4. During this period, the rate of inflation was increasing. Additionally, Aug 2020 YoY was 0.1 and Sep 2020 was 0.5. Even during this period, the rate of inflation was increasing. These historical metrics indicate that rate of inflation month to month is still increasing, not decreasing.

https://www.rateinflation.com/inflation-rate/canada-historical-inflation-rate/

#79 Reynolds753 on 10.19.22 at 7:59 pm

#37 Sail Away on 10.19.22 at 4:49 pm
#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

——-
Both of you are extremely tiresome to say the least. One of you is unbelievably smug. The other is akin to kid that got beat up in the school yard for always threatening to tell on all of the others. I will let the readers of this blog decide who is whom.

In any event, the pair of you (as my mother would say in her very pronounced south Dublin accent would say) just need to stop. Enough. You can thank the good graces of Mr. Turner that he allows both of you to continue to post.

I want to read informative comments on this blog not some drivel by two inadequate individuals.

#80 David Eby on 10.19.22 at 8:01 pm

Illegal secondary suites in BC are not illegal.

BC Municipalities will make your secondary suite legal if you pay them money.

Not for long.

All secondary suites in BC will soon be legal. No bylaw officer coming to shut you down.

And you will be able to build up to three units on your existing property. Your property value x3. You’re welcome home owners.

Municipalities can no longer police housing and squeeze land use zoning for price appreciation benefits. More units is coming to a neighbourhood near you.

#81 CharlesTheHammer on 10.19.22 at 8:06 pm

11.4% increase in food prices.

I know! Let`s ban fertilizer!!

#82 TurnerNation on 10.19.22 at 8:12 pm

“Jems and Mortgages”.

Love them jems I got me some fancy coloured Blog Dogs.

#83 Craig on 10.19.22 at 8:16 pm

RE # 18

Retired General and former CIA chief David Petraeus recently stated that “If Russia uses nuclear weapons in Ukraine, a US led NATO coalition would sink their entire naval fleet in the Baltic Sea and destroy Russian ground troops and equipment in Ukraine, and they know it.”

US Secretary Of Defense Loyd Austin said that he and Russian counterpart Sergei Shoigu speak from time to time and that there is communication between the 2 defense departments.

#84 Ponzius Pilatus on 10.19.22 at 8:30 pm

#72 Old Boot on 10.19.22 at 7:41 pm
#37 Sail Away on 10.19.22 at 4:49 pm

#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

————-

I dislike any form of censorship, so long as the speaker doesn’t sink to the level of singling out groups or individuals as deserving of hateful treatment.
———————-
Groups or individuals?
That pretty much covers everything and everyone.
So you are for censorship.
Thought so.
A closet wokey.

#85 IHCTD9 on 10.19.22 at 8:41 pm

Here’s a great vid for the toxic males here in the steerage section. Florida Sate champion arm wrestler Chance Shaw, convincingly made up to look like an 80 year old Man. Can you beat Grandpa for 500.00? Hahaha!

https://www.youtube.com/watch?v=jizG_jLI9tE

#86 45north on 10.19.22 at 8:54 pm

Reality check 3 chalice
Jeremy Siegel warned home prices will post the second-worst crash since World War II in the next 12 months.
—————-
And that’s his expectations for the US, where house price increases since 2008 are at least somewhat rational – about +80%.
Average Canadian house prices have increased about 150% since 2008. And that is from sky high 2008 Canadian house prices that did not correct.
Jeremy Siegel is a smart guy, if he’s thinking that kind of correction, look out below.

yeah, you see warnings that house prices in the US are about to crash but I think house prices in Canada are about to crash harder. The banks in Canada know but they’re not saying. They have to know. It’s their job. The banks hire economists. They (the economists) make some statement that national prices are going to drop 15%. Well maybe they will, but it’s a prediction, if they drop 20%, who you gonna sue? In the story above (above where the economists sit), it’s another story. Silently, credit is being withdrawn. On a massive scale.

#87 45north on 10.19.22 at 8:55 pm

Ed He coulda had Keystone XL
What a twit.

He referring to Joe Biden?

teleprompter Joe

#88 Linda on 10.19.22 at 9:12 pm

#68 ‘Shirl’ – keep in mind that wage increases & crop failures or shortages are a reality these days. So yes, expect food prices to stay high & even increase. Major tomato producing regions – namely, Italy & California – have been dealing with drought. As a result, tomatoes & tomato based products – paste, ketchup, soup etc. – are much more expensive due to the fact that there is literally more demand than there is supply. Climate related crop issues abound. Dijon mustard is also expected to be in short supply – France has been experiencing drought. While Canada’s prairie provinces have had a decent crop, the USA has had drought conditions that have affected crop yields. The war in Ukraine impacted various grains, wheat in particular. Throw in hurricane damage in Florida, flooding in Bangladesh & many African locales, drought in a swathe of Europe etc. All of the above will ensure food prices will continue to rise & in some cases, see shortages on the grocery shelves because you can’t sell what doesn’t actually exist.

#89 Old Boot on 10.19.22 at 9:28 pm

I’m a big fan of Terry Glavin’s, and I’m beginning to warm up to Chrystia Freeland.

If she’s interested in replacing Trudeau, this would be a good job interview.

https://nationalpost.com/opinion/terry-glavin-chrystia-freeland-is-right-to-condemn-doing-business-with-dictators-will-trudeau-listen

#90 THE DANDADA on 10.19.22 at 9:39 pm

Breaking News!!!

BOJ ANNOUNCES EMERGENCY BOND BUYING OPERATION!

One by one….. like dominos.

#91 Ponzius Pilatus on 10.19.22 at 10:31 pm

#81 CharlesTheHammer on 10.19.22 at 8:06 pm
11.4% increase in food prices.

I know! Let`s ban fertilizer!!
———————
We can’t keep on over-fertilizing and over-working our fields.
Study: diminishing returns.

#92 DON on 10.19.22 at 11:11 pm

#88 Linda on 10.19.22 at 9:12 pm

**********

Nicely stated! One country was forced to cull their chickens cause the grain was stuck at theharbour.

https://www.bnnbloomberg.ca/egypt-farmers-cull-chicks-as-poultry-feed-stranded-in-ports-1.1833613

The year of perfect storms!

#93 Alex on 10.20.22 at 12:23 am

Please add dark mode as an option for this blog. It’s very difficult to read at night on a screen

#94 DON on 10.20.22 at 1:12 am

#49 Michael in-north-york on 10.19.22 at 5:35 pm
#36 DON on 10.19.22 at 4:43 pm

Who woulda thought it was the ethnic composition that started this whole mess in the past. It’s hard to debate with someone who said the War would be over in a few months and googles without considering the source.
===

If you want a debate then post something coherent. Do you believe that the the ethnic composition is relevant as a cause? Or not relevant? Who told you the war will be over in a few months? What did you google without considering the source.

*********
There is no sense debating with someone who has google and always thinks they are right and can’t see other opinions. We do agree that Putin is bad though.

Then there is this from March. Apparently, you were mistaken but you sounded so sure of yourself at the time.

::::::::::::::

#65 Michael in-north-york on 03.11.22 at 6:06 pm
#41 Autarky on 03.11.22 at 4:32 pm

Russia can live in Autarky for 2 years and the West 2 months.
===

That’s just funny. In 2 months, let’s see who is in a greater economic hardship.

#95 DON on 10.20.22 at 1:57 am

#67 TheDood on 10.19.22 at 7:08 pm
#63 Mattl on 10.19.22 at 6:40 pm
And what happens when all of consumer discretionary is directed to debt servicing with no rate relief in site? A long, deep recession. The economy simply can’t operate without consumers blowing their brains out on debt. I said a month ago that we are in the first inning, I think I was off, this is just batting practice. Lots of pain to come, personally I’m looking forward to a fantastic sale on boat and other toys. I suspect most people don’t know what is actually happening right now, this could easily be worse then the GFC.
____________________________

You are correct. The masses don’t have a clue what’s going on. Most think it’s a blip in the road and the gov’t will eventually step in and do something. Like the gov’t has some form of control over interest rates.

*******
Recession proof jobs will be on the minds of many workers especially those with big debts. A nasty experience for individuals or families to go through.

Will the Boomers stop retiring? Will the Mills suffer increased divorce rates due to financial stress?

@Mattl…a boat with an inboard Penta motor is good on fuel. Get a deep hall for ocean fishing. The kingfisher boats are wicked. Browse the boat sales on Vancouver Island in the future.

#96 Cow Girl on 10.20.22 at 1:59 am

Garth, yesterday you said it’s impossible for Sask, Man and AB to separate from Trudeaus WEF enslaved Canada. “Breaking free” is the very act of not asking permission from your oppressor. You’re saying that the Jews had no right to oppose Hitler because they were already enslaved. We want freedom from the WEF controlled Liberal Party. Our desperation can be accomplished in so many ways. How could Trudeau force his will on a population willing to lay down their lives for freedom from an occupier. You support Ukrainians freedom, why isn’t the same applied for Albertans?

#97 Jane24 on 10.20.22 at 2:23 am

Thinking of those 60 plus couples I know, same age as me, who sold the ordinary family home where they raised their children, to heavily remortgage for the huge dream home with the granite. Now they have worry, a house that is worth less every morning when they wake up, a heavy mortgage draining their pensions and mega stress. Why on earth did they do it ?Nothing wrong with a lovely, paid for, 3 bed for retirement.

If anyone wants to fly now to Bari, Italy, it is 25 degrees here now and Ryanair has flights from London GATWICK for 14 quid, that is about $25 each way plus your suitcase fee. Not bad for a 2.5 hour flight. Sadly I am going home today as I miss the dog and the grandkids are visiting from Copenhagen.

#98 Faron on 10.20.22 at 3:24 am

#72 Old Boot on 10.19.22 at 7:41 pm
#43 IHCTD9 on 10.19.22 at 5:16 pm
#37 Sail Away on 10.19.22 at 4:49 pm

Sail Away, I’m grateful for your impromptu poll.

I have learned that I’m homophonic which is a valuable insight I couldn’t have gained anywhere else.

Oh, and I also learned a lot about your, Old Boot and IHTCD9’s character. Here’s a word sampling:

Tourretes, unpleasant, nastiness, bigoted, homophonic (LOL), horror show, white supremacy, toxic, colonialism, misogynists, drama, privilege, gas-lighting.

Meanwhile your poll flops on its face.

Grow up.

#99 Faron on 10.20.22 at 3:37 am

#43 IHCTD9 on 10.19.22 at 5:16 pm
#37 Sail Away on 10.19.22 at 4:49 pm
#10 Faron on 10.19.22 at 3:46 pm

His Twitter is a horror show

Oh, is it? How would you know? I locked it after Old Boot decided to dredge through my tweets for some kind of gain because it was losing its argument.

Seems you are straight-up lying. Just wow.

#100 Faron on 10.20.22 at 3:43 am

#72 Old Boot on 10.19.22 at 7:41 pm
#37 Sail Away on 10.19.22 at 4:49 pm

I dislike any form of censorship, so long as the speaker doesn’t sink to the level of singling out groups … as deserving of hateful treatment.

You have continually expressed hatred for trans people. They are a group. This blows my mind.

The rest of your whackadoodle rant only shows that you have a deep hatred for a figment of your imagination that you have delusionally ascribed to me.

Incredible. Reynolds753 is bang in. This whole thing is disgusting.

#101 Bezengy on 10.20.22 at 6:48 am

#9 Josh Feldman on 10.19.22 at 3:46 pm
Seeing a lot of homeless guys who are middle aged, White and they used to work in blue collar jobs in small town Ontario.

——————————-

I know plenty of folks in my small town that found themselves down on their luck when their lives fell apart for one reason or another. The solution was to rent a 8 x 8 foot room above a hotel for $65 per week. No water, shared bathroom down the hall, kinda smelly. I can’t remember any complaints though. Many got back on their feet but stayed there as it was cheap and it was really all they needed. There must have been 100 hotels renting out rooms. They’re almost all gone now, so folks have no place to go I guess. Bottom line for me is folks don’t need much to be happy. The wife and I spend at least a month a year in my 96 sq foot bunkie or in our tent trailer which isn’t much bigger. If we could just figure out how to build 100 sq foot living spaces I’m pretty sure we could make a big dent in the homeless population.

#102 maxx on 10.20.22 at 7:22 am

@ #9

Bless you for casting such a sympathetic eye towards those now far less fortunate.

More than ever before, we live in an age where having no money, let alone unsustainable amounts of consumer and mortgage debt is excruciating and cascades into more losses, in health, relationships and erratic behaviour of all kinds.

Far too many people have become desensitized to the painful results of excess debt.

All of this easy credit will, without a doubt, weaken and cripple the economy at large unless CB´s press on with interest rate hikes.

There is only one path out of this mess: the value of money must be restored.

#103 Old Boot on 10.20.22 at 7:52 am

#84 Ponzius Pilatus on 10.19.22 at 8:30 pm

#72 Old Boot on 10.19.22 at 7:41 pm
#37 Sail Away on 10.19.22 at 4:49 pm

#10 Faron on 10.19.22 at 3:46 pm

…your dark, bitter, nastiness and hatred in the other 30% precludes any kind of discussion with you.

——-

Faron, when all you do is namecall and insult, it becomes a feature to be expected. Unpleasant, uncalled-for, and discordant, yes, but an expected feature. Like Tourettes.

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?

————-

I dislike any form of censorship, so long as the speaker doesn’t sink to the level of singling out groups or individuals as deserving of hateful treatment.
———————-
Groups or individuals?
That pretty much covers everything and everyone.
So you are for censorship.
Thought so.
A closet wokey.

————–

“….groups or individuals *as deserving of hateful treatment*.”

Your reading comprehension needs work. Or you needed to deliberately misquote me to justify name calling.

It’s not ‘woke’ to NOT target people or groups for abuse based on their beliefs.

Targeting groups or individuals as deserving of hateful treatment (or censorship) simply because they don’t share your beliefs, is literally the foundation of woke gospel.

Why did you feel the need to overlook the man who was proposing censorship in order to provoke a response from a woman who wasn’t?

What closet are you hiding in?

#104 Wrk.dover on 10.20.22 at 8:02 am

#101 Bezengy on 10.20.22 at 6:48 am
The wife and I spend at least a month a year in my 96 sq foot bunkie or in our tent trailer which isn’t much bigger. If we could just figure out how to build 100 sq foot living spaces I’m pretty sure we could make a big dent in the homeless population.
________________________

After which an upgrade to 300 sq. ft. is awesome….
If it isn’t priced at GTA levels.

Our super-insulated guest house is appraised at around 40k, on a stand alone lot. In Canada, on a paved road, near work and essentials shopping. There are more like it nearby too.

Hint: not in Ontario, or B.C.

#105 jess on 10.20.22 at 8:16 am

guns and butta

https://www.justice.gov/opa/pr/justice-department-announces-charges-and-arrests-two-cases-involving-export-violation-schemes

Using NDA GmbH as a front company, Orekhov and Kuzurgasheva sourced and purchased sensitive military and dual-use technologies from U.S. manufacturers, including advanced semiconductors and microprocessors used in fighter aircraft, missile systems, smart munitions, radar, satellites, and other space-based military applications. These items were shipped to Russian end users, including sanctioned companies controlled by Telegin and Tulyakov that serviced Russia’s military. Some of the types of electronic components obtained through the criminal scheme have been found in Russian weapons platforms seized on the battlefield in Ukraine. As alleged, in 2019, Orekhov travelled to the United States to source parts used in the Russian-made Sukhoi fighter aircraft and the American-made F-22 Raptor stealth fighter aircraft.

Orekhov and Uss also allegedly used NDA GmbH as a front to smuggle hundreds of millions of barrels of oil from Venezuela to Russian and Chinese purchasers, including a Russian aluminum company controlled by a sanctioned oligarch and the world’s largest oil refining, gas and petrochemical conglomerate based in Beijing. Serrano Ponce and Soto brokered deals worth millions of dollars between PDVSA and NDA GmbH, which were routed through a complex group of shell companies and bank accounts to disguise the transactions. In one communication with Serrano Ponce, Orekhov openly admitted that he was acting on behalf of a sanctioned Russian oligarch, saying “He [the oligarch] is under sanctions as well. That’s why we [are] acting from this company [NDA GmbH]. As fronting.” The scheme also involved falsified shipping documents and supertankers that deactivated their GPS navigation systems to obscure the Venezuelan origin of their oil.

Payment for NDA GmbH’s illicit activities was often consummated in U.S. dollars routed through U.S. financial institutions and correspondent bank accounts. To facilitate these transactions, Orekhov and his co-conspirators used fictitious companies, falsified “know your customer” documentation and bank accounts in high-risk jurisdictions, causing U.S. banks to process tens of millions of dollars in violation of U.S. sanctions and other criminal laws. In one conversation with Soto, Orekhov bragged that “there were no worries…this is the shittiest bank in the Emirates…they pay to everything.” The scheme also utilized bulk cash drops with couriers in Russia and Latin America, as well as cryptocurrency transfers worth millions of dollars, to effectuate these transactions and launder the proceeds.

#106 IHCTD9 on 10.20.22 at 8:20 am

Freeland is saying get ready for trouble, and that it’s time for financial restraint from Government.

Well, will wonders never cease. Better late than never. PP must really be shaking up the Libs to have them suddenly come out sounding like a bunch of crusty old fiscal cons.

Of course, she’s right – it’s just a matter of how bad it’s going to get.

#107 Old Boot on 10.20.22 at 8:42 am

#72 Old Boot on 10.19.22 at 7:41 pm
#37 Sail Away on 10.19.22 at 4:49 pm

I dislike any form of censorship, so long as the speaker doesn’t sink to the level of singling out groups … as deserving of hateful treatment.

You have continually expressed hatred for trans people. They are a group. This blows my mind.

The rest of your whackadoodle rant only shows that you have a deep hatred for a figment of your imagination that you have delusionally ascribed to me.

Incredible. Reynolds753 is bang in. This whole thing is disgusting.

————–

Hmm, who’s more hateful or whackadoodle?

Women who believe that no one can change sex or ‘identify’ out of male-pattern violence, or men who support putting convicted male rapists and murderers in women’s prisons?

I haven’t expressed hatred for trans people. Women who identify as trans are welcome in spaces where women have always been separated from men for reasons of privacy, dignity, and safety.

Men who identify as trans are not welcome, because men who demand access to these spaces are demanding that women pretend that men aren’t responsible for 95% of sexual crimes, and that women aren’t 90% of their victims.

https://reduxx.info/male-sex-offender-identified-as-woman-to-access-womens-shelter-allegedly-raped-a-female-resident/

There’s zero evidence that men who identify as trans are any more vulnerable to male on male violence than other groups of males but even if there were, it’s not up to women to protect grown men from other men.

Why is it that when adult men say they’re afraid of other men, society rushes to re-organize itself to protect them but when women and girls say they’re afraid of men, they get called ‘hateful’?

I dislike over-using misogyny as an explanation for male behaviour but beyond that explanation, I’m stumped as to why so many men think that women are hateful for pointing out that men and women are very different and that wishful thinking can’t change that fact.

#108 IHCTD9 on 10.20.22 at 8:44 am

#101 Bezengy on 10.20.22 at 6:48 am

If we could just figure out how to build 100 sq foot living spaces I’m pretty sure we could make a big dent in the homeless population.
___

I think the City of Kingston had a plan on the go like this. “Tiny Houses” meant for Veterans facing homelessness, and just meant as a helping hand to get them back on their feet again – then they move out. Great idea I think. I think the future will see less and less folks interested in living in a McMansion and the desire for financial independence and autonomy grows among the younger population. We already see this among many young Gen Z’s, they own very little “stuff”.

This is what the WEF’s unfortunately worded phrase “You’ll own nothing, and be happy” actually refers to. People will choose to own less, ie rent their roof, rent their car, and have little desire to buy things. The way things are shaping up, I think they will be largely correct a few decades from now.

#109 Crowdedelevatorfartz on 10.20.22 at 8:49 am

Please God.
Disconnect the power from Farons computer

#110 Linda on 10.20.22 at 8:56 am

#92 ‘Don’ – meat producers were culling in both Canada & the USA too due to grain/feed shortages. If you want a truly scary picture, bring up the North American drought monitor map. A very large swathe of the USA is in drought & sadly, drought conditions have resumed for much of Alberta, Saskatchewan & the Yukon. Hopefully there will be enough snow during the winter months & a resumption of rainfall come spring to alleviate those conditions. If not, then today’s food prices will look cheap by comparison this time next year.

#111 IHCTD9 on 10.20.22 at 8:56 am

Truss resigns. UK all frigged up. They all better get their firewood and ammo stocked up.

#112 jess on 10.20.22 at 9:06 am

liz pm is out ….

#113 Dharma Bum on 10.20.22 at 9:25 am

#37 Sailo

My guess, if I were to guess, is that nearly everyone on this blog probably wishes you would disappear, taking your nastiness with you. Maybe I’m wrong.

Blogdog thoughts?
——————————————————————————————————-

My first reaction was to agree with you.

However, on second thought, I rather enjoy the daily deluge of inanity that the poor, deluded, misguided soul posts.

It’s highly entertaining. Humorous. Like Cheech and Chong (Faron and Ponzi).

I suspect there’s a bi-polar type of thing happening.

Or deep seated anger issues of some sort.

Unfulfilled desires, maybe?

Incel?

I don’t really know.

However, my vote is: he stays.

1% of his posts are sincere and heartfelt. I like them and agree with them. Deep down, he’s a good guy.

Most of his posts, though, are pure vitriol, lunacy, delusion, woke ideology, pseudo-science, ad hominem, antagonistic drivel.

But I like it. He’s smart, in a nerdy kind of anti-social way.

Ponzi, on the other hand is just plain annoying. Ugghh.

#114 jess on 10.20.22 at 9:45 am

mercenary lawyers ?
Discreet Law LLP, of filing a so-called SLAPP, or Strategic Lawsuit Against Public Participation: litigation intended to intimidate or censor critics into silence by saddling them with the costs of defending themselves in court. Higgins (bellingcat )told The Intercept that the hacked emails further reinforce his position.

https://theintercept.com/2022/10/19/russia-hack-wagner-group-yevgeny-prigozhin/?utm_medium=email&utm_source=The%20Intercept%20Newsletter

#115 Sail Away on 10.20.22 at 10:07 am

#98 Faron on 10.20.22 at 3:24 am

Sail Away, I’m grateful for your impromptu poll.

——–

You bet

#116 Dharma Bum on 10.20.22 at 10:12 am

#27 The Jaguar

Those of us with no debt who live simple and uncomplicated lives with investments and savings will be o.k. Those who will not don’t even appear to see what’s coming.
———————————————————————————————————-

That’s how it works.

It’s not as if the lesson has not been taught over and over and over and over and over.

Children are taught at a very young age to “save for a rainy day”. As they get older, and mature into young adults, they are taught to use their discretion, and that moderation in all things is the prudent way to behave.

Of course, most ignore all of the sound advice and lessons, and let their desires control their fate as they stumble into adulthood.

Insatiable desires resulting in the overconsumption of all things, material and otherwise, leading to the voracious assumption of exorbitant, unmanageable debt, ultimately ensuing in pain, heartache, destitution, and suffering.

It’s not as if they weren’t warned.

It’s nature’s way of culling the weak willed and ignorant.

Having said that, it’s what capitalism thrives on. The weak and ignorant .

Zero sum game.

Like a poker tournament.

#117 Ponzius Pilatus on 10.20.22 at 10:34 am

Britaly!

#118 Sail Away on 10.20.22 at 10:42 am

#101 Bezengy on 10.20.22 at 6:48 am

The wife and I spend at least a month a year in my 96 sq foot bunkie or in our tent trailer which isn’t much bigger. If we could just figure out how to build 100 sq foot living spaces I’m pretty sure we could make a big dent in the homeless population.

———

Nanaimo is there. A few years ago, we built two ‘rehoming’ communities with fully functional modulars. Then came the security fencing, then fulltime security presence, a regular stream of fire and police, and greatly increased property crime in the surrounding areas.

Craigslist commerce in nearby parking lots seems to be a staple of business. As I understand, a few enterprising entrepreneurs run a bit of a ’boutique’ acquisitions operation based on wishlist orders.

#119 Dogman01 on 10.20.22 at 10:50 am

#96 Cow Girl on 10.20.22 at 1:59 am

I think the first quote illustrates the dynamic:

“Sovereignty is not given, it is taken.” – Atatürk

The others are just for fun!

“Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them, and these will continue till they are resisted with either words or blows, or with both. The limits of tyrants are prescribed by the endurance of those whom they oppress.” – Frederick Douglass

War is when your government tells you who your enemy is. Revolution is when you find it out for your self

#120 Asteroids on 10.20.22 at 10:54 am

Two points: (1) Diesel price has NOT gone down. Everything will become more expensive! (2) When do governments increase COLA payments? Only way to pay for it is to print more money increasing inflation.

#121 Mattl on 10.20.22 at 10:58 am

#95 DON on 10.20.22 at 1:57 am
@Mattl…a boat with an inboard Penta motor is good on fuel. Get a deep hall for ocean fishing. The kingfisher boats are wicked. Browse the boat sales on Vancouver Island in the future.

—————————————————————–

Hey Don – been doing just that, I look every day. Looking for a trailerable 26-28′ glass boat, 10′ beam, stand up head, cuddy, stove, fridge, sink etc. Single screw ideally, don’t want to maintain two engines. Something we could comfortable overnight on, but has to have a big dancefloor to fish off of. Ideally a 26′ Commander but working a deal on an SR Amberjack as we speak, very cool compromise (family / fishing) boats.

Aluminum would be amazing, but for the size I’m looking at you are 150k+ for 10-15 YO boat, 250-300K new. Way way way out of my price range, even if and when boats go on deep discount. Should have bought a 22′ Hewes Ocean Pro when they were sub 70K 10 years ago, oh well, we want more room anyways.

#122 IHCTD9 on 10.20.22 at 10:59 am

#99 Faron on 10.20.22 at 3:37 am

I locked it after Old Boot decided to dredge through my tweets for some kind of gain because it was losing its argument.
___

You locked it because ‘Boot immediately **found** “some kind of gain” in your Twitter posts.

Obviously there is much more to be found or you would not have locked it up.

Let’s keep it real bro.

#123 Calgary on 10.20.22 at 11:06 am

#96 Cow Girl

I agree with you. Alberta, Saskatchewan and Manitoba should seriously consider breaking away. Trudeau’s ban on fertilizer and shut down of oil and gas. What’s next – shut down uranium(Cameco). Does he expects us to live on A & W(Air & Water).

The future is about natural resources.

Enough claptrap from the Western rebels. No province can separate without agreement from the nation as a whole. Nor could you even pay your share of the national debt, let alone function on a weensy tax base. – Garth

#124 the Jaguar on 10.20.22 at 11:17 am

NP Snippet:

“Earlier this week, OSFI’S superintendent of financial institutions, Peter Routledge, said the regulator was constantly looking at the risk horizon and determining whether it had the necessary buffers in place to weather potential financial storms.

“We’ve never had buffers this thick to protect our financial system from adverse events,” Routledge said during an Oct. 17 Toronto Centre panel discussion in Toronto. “Is that enough? It’s necessary, but it is not fully sufficient. What makes it fully sufficient is a regulator that has a willingness to act.”

Routledge said the regulatory will to act once it identifies potential difficulties on the horizon has been necessary since OSFI’S founding in the wake of the 1987 global financial crisis.

“That’s my obsession now … as we go into more difficult times with higher debt service costs which flow from higher inflation,” Routledge said.

“If we are willing to take that risk (of acting early), we will add what is necessary and sufficient to the resilience in the system and I think we’ll come through whatever comes at us quite well, as we have in the past”. ———-

Does anyone ( perhaps Under the radar) have a ‘baffelgab decoder’?

What pray tell, does “willingness to act” imply? Exactly what does the old ‘chicken hawk’ have up it’s sleeve? Hey Pete, are you familiar with the expression ” Horses are out of the barn?”. I could lend you my rabbit snare it you think it might help with those rascally old ancient warrior banks…….

#125 zero sum on 10.20.22 at 11:26 am

#116 Dharma Bum

Now I know why socialists only ever suggest ways to take money and property from other people to give them themselves.

The idea that wealth is created is beyond their grasp.

Zero sum game lol. Who did Steve Jobs take his wealth from?

Bloody fools.

#126 Faron on 10.20.22 at 11:42 am

#103 Old Boot on 10.20.22 at 7:52 am
#107 Old Boot on 10.20.22 at 8:42 am

Garth, enforce your own rules. If you desire a less vitriolic comment-sphere, then when me, Old Boot or anyone steps over a red line of yours, you need to enforce it.

This person keeps saying the same thing over and over and over after your telling her not to. Furthermore, her viewpoints are shared by Alex Jones and the Epoch Times.

‘Old Boot’ posted on this blog more than 400 times as ‘Sold Out’ then as ‘Masks really do make some people more attractive.’ Draw your own conclusions. – Garth

#127 Shawn on 10.20.22 at 11:52 am

Borrowing continues to increase though at a slower pace. Borrowing is up a lot year over year. But has slowed in the latest month.

Ponder the following info.

https://www150.statcan.gc.ca/n1/daily-quotidien/221020/dq221020b-eng.htm?CMP=mstatcan

Click on the charts. But it looks like Chart 1 is mis-labeled month-over-month. Those have to be year-over-year figures? See the tables below the charts.

What’s it all mean? Higher rates are slowing borrowing as of July and August. Will we be into repayment of debt when the October figures are released?

#128 Don Guillermo on 10.20.22 at 11:53 am

#119 Dogman01 on 10.20.22 at 10:50 am
#96 Cow Girl on 10.20.22 at 1:59 am

I think the first quote illustrates the dynamic:

“Sovereignty is not given, it is taken.” – Atatürk

The others are just for fun!

“Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them, and these will continue till they are resisted with either words or blows, or with both. The limits of tyrants are prescribed by the endurance of those whom they oppress.” – Frederick Douglass

&&&&&&&&&&&

“When you come to a fork in the road, take it.” –
Yogi Berra

#129 Shawn on 10.20.22 at 11:55 am

#125 zero sum on 10.20.22 at 11:26 am
#116 Dharma Bum

Now I know why socialists only ever suggest ways to take money and property from other people to give them themselves.

The idea that wealth is created is beyond their grasp.

Zero sum game lol. Who did Steve Jobs take his wealth from?

Bloody fools.

*******************************
Well said! The economy is always a positive sum game in aggregate. And the economy as a whole is a huge net saver. (See the investment component of GDP).

#130 Faron on 10.20.22 at 11:57 am

#122 IHCTD9 on 10.20.22 at 10:59 am
#99 Faron on 10.20.22 at 3:37 am

Obviously there is much more to be found or you would not have locked it up.

Let’s keep it real bro.

Yes, let’s. So, you lied about what you presumed is in there just so you could spew more horrible words? Incredible. Just listen to yourself.

You know what’s in there? Ultimately? Links to my blog that contains personal stuff (poems, essays, creative writing, photos, race reports) that I don’t mind sharing with a non-hostile crowd, but that would have been heartbreaking to see laughed at by you callous jerks. Go eff yourself. Stop being a POS. I actually thought you, at least, were better than that.

#131 Observer on 10.20.22 at 12:15 pm

#130 Faron on 10.20.22 at 11:57 am
#122 IHCTD9 on 10.20.22 at 10:59 am
#99 Faron on 10.20.22 at 3:37 am

Obviously there is much more to be found or you would not have locked it up.

Let’s keep it real bro.

Yes, let’s. So, you lied about what you presumed is in there just so you could spew more horrible words? Incredible. Just listen to yourself.

You know what’s in there? Ultimately? Links to my blog that contains personal stuff (poems, essays, creative writing, photos, race reports) that I don’t mind sharing with a non-hostile crowd, but that would have been heartbreaking to see laughed at by you callous jerks. Go eff yourself. Stop being a POS. I actually thought you, at least, were better than that.

^^^^^^^^^^^^^
You thought wrong Faron. :(

#132 Faron on 10.20.22 at 12:17 pm

#37 Sail Away on 10.19.22 at 4:49 pm
#10 Faron on 10.19.22 at 3:46 pm

Maybe I’m wrong. Blogdog thoughts?

2 for removal (you, Reynolds758)
3 opposed
1 for removal of Sail Away.

Everyone else? DGAF

Not unlike a SAGI. Hit the reset button, this one is over. Done like dinner. JFC

#133 Observer on 10.20.22 at 12:20 pm

#126 Faron on 10.20.22 at 11:42 am
#103 Old Boot on 10.20.22 at 7:52 am
#107 Old Boot on 10.20.22 at 8:42 am

Garth, enforce your own rules. If you desire a less vitriolic comment-sphere, then when me, Old Boot or anyone steps over a red line of yours, you need to enforce it.

This person keeps saying the same thing over and over and over after your telling her not to. Furthermore, her viewpoints are shared by Alex Jones and the Epoch Times.

‘Old Boot’ posted on this blog more than 400 times as ‘Sold Out’ then as ‘Masks really do make some people more attractive.’ Draw your own conclusions. – Garth

^^^^^^^^^^^^^
‘Old Boot’ sounds like a real gem.

Faron, be thankful ‘she’ is not on your team.

And sorry to disappoint you ‘Old Boot’, but I am definitely not Faron as you accused recently.
A little projection going on? I mean you obviously aren’t sticking to one name on this blog.

#134 Faron on 10.20.22 at 12:24 pm

#126 Faron on 10.20.22 at 11:42 am
#103 Old Boot on 10.20.22 at 7:52 am
#107 Old Boot on 10.20.22 at 8:42 am

‘Old Boot’ posted on this blog more than 400 times as ‘Sold Out’ then as ‘Masks really do make some people more attractive.’ Draw your own conclusions. – Garth

Thanks for the info. I see you have the impossible task of squashing unsquashable bugs. I apologize for calling you out.

#135 IHCTD9 on 10.20.22 at 12:31 pm

#130 Faron on 10.20.22 at 11:57 am

You know what’s in there? Ultimately? Links to my blog that contains personal stuff (poems, essays, creative writing, photos, race reports) that I don’t mind sharing with a non-hostile crowd, but that would have been heartbreaking to see laughed at by you callous jerks. Go eff yourself. Stop being a POS. I actually thought you, at least, were better than that.
_____

Shhh… easy bro, easy. It’s not like every criticism is a cataclysmic affront. I was hoping you’d be able to ignore that post, it was obviously a fishing expedition. If I throw a dig a Ponzie – he can scroll it no problemo, so should you.

You must realize a 50 something dude like yourself with a good education, job, and seemingly life, – has no business being this filled with rage. Something is not right here, it’s probably worth looking into.

#136 Shawn on 10.20.22 at 12:32 pm

Home Building Costs are massively lower in the U.S.

Their far stronger dollar explains some of it. We never see a breakdown of what drives building lot prices so high in Canada.

Here’s an example of LUXURY single family homes for apparently not much over US $600k. What does that get you even in bunny patch Canada where raw land should be cheap?

Why is the cost of land and home for a new build apparently so much cheaper in the U.S.? Climate? (We need basements and more insulation?)

https://ca.finance.yahoo.com/news/toll-brothers-announces-opening-south-160900054.html

“This Toll Brothers lakefront community offers four brand new two-story home designs with approx. 2,800 to over 3,600 square feet of luxury living space, 3 to 6 bedrooms, 2- or 3-car garages, and scenic waterfront lake views. The homes feature spacious kitchens perfect for entertaining, primary bedroom suites with large walk-in closets, indoor/outdoor living features, and flex space ideal for a home office. In addition to homes built-to-order, there are also quick move-in homes with designer-appointed finishes available for immediate delivery. Homes are priced from the low $600,000s.”

#137 Quintilian on 10.20.22 at 12:41 pm

#127 Shawn on 10.20.22 at 11:52 am
“What’s it all mean? Higher rates are slowing borrowing as of July and August. Will we be into repayment of debt when the October figures are released?”

Usually the risk of higher rates, is a call to the RE junkies / to “get in before the rates go up”.

But not this time.

Although higher rates definitely are starting to impact the math, it’s not the whole answer.

The pool of speculators and fools is drying up.

Tick Tock, Tick Tock

#138 ogdoad on 10.20.22 at 12:45 pm

Was gonna watch re-runs of ‘The Bachelor’ all day today but the comment section of your blog, G, is WAAAY better! I knew I wasn’t the only one with MEGA drama in their lives.

Riveting!

I vote for a digital group hug! (Full. dis. I’m gonna hug anyway so…the more the merrier!)

Og

#139 Faron on 10.20.22 at 12:48 pm

#118 Sail Away on 10.20.22 at 10:42 am

Just shut up. Seriously, shut up. Reynolds758 made it clear that you and I are laughing stocks. I’ve given you the greatest gift by being an overly verbose, highly reactive, left wing foil to enable you to vomit even more of your self-important trash than you otherwise would have.

Your stupid poll backfired and revealed IHCTD9 to be an outright liar who fabricated some serious vitriol, and Old Boot to be a made-up spoof of a resident troll.

If you have any ability to self reflect (highly doubtful) what does it say about you that you have attracted these lowlifes into your dumb internet fold?

You can be, and often are, a useful contributer here, but you, like myself need a break.

Last one from me for a little bit.

#140 The General on 10.20.22 at 12:51 pm

Faron against the world: Instead of saturating the comment section, could you possibly just write one big comment/belittling diatribe? It would be much easier to ignore and/or skip over. Thanx.

#141 jess on 10.20.22 at 12:51 pm

profit shifting

subsidiaries, sometimes called “ghost companies,” are a common feature of tax avoidance arrangements for multinationals because they are not tax-resident anywhere the world.

“OECD has now had ten years to solve the problem, and really hasn’t yet made much in the way of concrete progress.”

https://www.icij.org/investigations/paradise-papers/multinationals-shifted-1-trillion-offshore-stripping-countries-of-billions-in-tax-revenues-study-says/
Footwear giant cannot stop a probe into possible multibillion dollar tax avoidance, one of Europe’s highest courts ruled this week.

https://www.icij.org/investigations/paradise-papers/nike-fails-to-stop-eu-probe-on-billions-in-alleged-tax-dodging/

#142 Sail Away on 10.20.22 at 12:52 pm

#126 Faron on 10.20.22 at 11:42 am

Garth, enforce your own rules. If you desire a less vitriolic comment-sphere, then when me, Old Boot or anyone steps over a red line of yours, you need to enforce it.

——–

Maybe self-regulate and stop being vitriolic.

Crazy idea, I know.

#143 Alex Jones? on 10.20.22 at 12:52 pm

Faron #126 “Furthermore, her viewpoints are shared by Alex Jones and the Epoch Times.”

Alex Jones thinks Faron is a misogynist and in favour of allowing children to have hormone therapy and surgery to “change their gender?”

I doubt he’s even heard of him/her/it.

#144 Phobias on 10.20.22 at 12:59 pm

Opposing allowing CHILDREN to make life altering, irreversible decisions about whether they are male or female is not a phobia, the favourite slur of the woke.

It’s a perfectly rational belief that children are too young to make decisions like that. We don’t allow them to do many things, like drive cars or sign contracts for the same reason: their brains are not yet fully developed.

You would think a self-proclaimed ‘believe science’ type would understand that.

But then they don’t even understand the term ‘phobia’, so…

#145 Dr V on 10.20.22 at 1:01 pm

124 Jag

“What pray tell, does “willingness to act” imply?”
———————————————————–

I think it’s quite straightforward Jag. The OSFI must have many tools at their disposal. I concede I dont know what exactly they are.

But, as examples, during the COVID crisis, the regulator did instruct the banks on (at least) two things:

1) Do not raise dividends
2) Do not buyback shares

These actions were to protect the bank’s capital. Makes sense.

Who knew the super could invoke these rules, or had the nuts to do so?

#146 Dragonfly58 on 10.20.22 at 1:01 pm

IHC, # 108. In my books those that own little ” stuff ” are the ones who do or create very little. All of human history is about the ” stuff “. Could be art , sculpture, music, architecture, astronomy, old cars , HD equipment, boats, sail and power, or even rowing shells.
Once you separate people from stuff you end up with passive consumers.
I can draw up things on autocad to my hearts delight. But without the shop to build what I draw { usually reverse engineered vintage car parts } I really have created little.
You need a nice , big ,really flat surface to use at the measuring stage. And a warmish, dry building here on the wet coast. And then the welders, casting furnace , drill , mill , jigs , fixtures , lathe to actually make the parts.
It’s a life long journey.
I also do quite a bit of work on my own bicycles, guitars and amps. Without ” stuff ” you are little better than a spectator of life. ” stuff ” is what brings ideas to life in the real world.
Just ask Henry Ford, The Wright Brothers, Harry Miller, Colin Chapman, { Lotus } Derek Bennett, { Chevron }, Eric Broadley { Lola } and millions of others who actually do and build things.

#147 jess on 10.20.22 at 1:18 pm

…’emerging science about brain development suggests that most people don’t reach full maturity until the age 25.”

so should we increase the age of maturity /hire a special exorcist ?

#148 Sail Away on 10.20.22 at 1:26 pm

#139 Faron on 10.20.22 at 12:48 pm
#118 Sail Away on 10.20.22 at 10:42 am

Just shut up. Seriously, shut up.

——-

Wait, isn’t that a bit… intolerant?

Go ahead and get it all out, my friend. The steerage vomitorium welcomes your seemingly endless deposits.

#149 the Jaguar on 10.20.22 at 1:33 pm

#145 Dr V on 10.20.22 at 1:01 pm+++

I hear you, but putting restrictions on the lender seems a lot like treating the sympton versus the disease. If OSFI dictates an increase in capital requirements to offset a train going off the rails it protects the financial meltdown of the banking industry, but to Garth’s comment, (“As stated here a few times, close to half all households in the country have mortgage renewals coming up within the next 18 months.” ) how does it rescue exposed households?

In the same article I drew the snippet from a National Bank source was quoted saying :

“We could see the impact of ‘payment shocks’ on renewing borrowers’ flowthrough credit performance, assuming borrowers face difficulty servicing a higher mortgage payment,” the note read. “For borrowers that received their mortgage in Q3 2021, we estimate a $1,000 increase in monthly mortgage payments. These higher mortgage payments, alongside other inflationary pressures (e.g., food, fuel), could stress borrowers’ ability to pay.”

It won’t be the insured mortgages that go sideways because ‘monkey business’ isn’t allowed in the underwriting. It will be those who collect multiple properties as an investment strategy or those who relied on falsified documents and fraud to buy before they had the means. Their friendly broker won’t care what happens after the fact. Recessions usually entail job losses, and even the lazy can do the math.

Guess we’ll see how it all unfolds, Dr. V…………

#150 Michael in-north-york on 10.20.22 at 1:43 pm

#94 DON on 10.20.22 at 1:12 am

“We do agree that Putin is bad though.”

I am content with that.

” Then there is this from March. Apparently, you were mistaken but you sounded so sure of yourself at the time.

::::::::::::::

#65 Michael in-north-york on 03.11.22 at 6:06 pm
#41 Autarky on 03.11.22 at 4:32 pm

Russia can live in Autarky for 2 years and the West 2 months.
===

That’s just funny. In 2 months, let’s see who is in a greater economic hardship.”

I was not mistaken. The Russian populace is in a greater economic hardship than the North Americans or Europeans. We have high inflation, only partly caused by Putin’s war. We have an economic downturn and rising energy bills. But still, low unemployment, electricity and water running, planes flying etc.

The Russians face massive layoffs due to the lack of imported components and parts and reduced domestic demand. Their inflation is higher than ours. Even their heating bills are up because their gas company has to hike the domestic prices to offset the loss of foreign export revenues. Nearly all their flights to the European tourist destinations got cancelled, and that’s a big deal for the Russian upper-middle class. Not to mention that any adult male over there can be drafted and sent for slaughter in the war.

They are more patient than us; just because Putin and his accomplices turned their subjects into voiceless serfs. Those few who attempt to protest, quickly end up in jail. The majority keeps low profile, they try to get by, avoid being drafted, and hope that the tyrant will be gone eventually.

#151 Gravy Train on 10.20.22 at 3:33 pm

#116 Dharma Bum on 10.20.22 at 10:12 am
[…] It’s not as if they weren’t warned. It’s nature’s way of culling the weak-willed and ignorant.

Even though your handle is Dharma Bum, you’re clearly not a Buddhist. You’re blissfully unaware of the noble eightfold path.

[…] It’s what capitalism thrives on. The weak and ignorant. Zero-sum game. Like a poker tournament.

You’re also not an economist. Transactions between rational and self-serving economic agents are positive-sum games. Review the concepts of consumer and producer surplus, the Edgeworth-Bowley box, and Pareto optimality. Better yet, take an introductory economics course.

#152 BillinBC on 10.20.22 at 3:57 pm

139 Faron

#118 Sail Away on 10.20.22 at 10:42 am

Just shut up. Seriously, shut up. Reynolds758 made it clear that you and I are laughing stocks. I’ve given you the greatest gift by being an overly verbose, highly reactive, left wing foil to enable you to vomit even more of your self-important trash than you otherwise would have.

Your stupid poll backfired and revealed IHCTD9 to be an outright liar who fabricated some serious vitriol, and Old Boot to be a made-up spoof of a resident troll.

If you have any ability to self reflect (highly doubtful) what does it say about you that you have attracted these lowlifes into your dumb internet fold?

You can be, and often are, a useful contributer here, but you, like myself need a break.

Last one from me for a little bit.
………………………………………………………………………….
My prayers have been answered

#153 Cow Girl on 10.21.22 at 9:41 am

#123. Garth, we’re breaking away. We don’t need your permission. You can collect on the trillions we’ve pumped into Quebec. If you need revenue, triple Trudeau carbon tax . Our resources will mean that personal income tax in the Western Freedom Lands will be zero. And BTW, we’ll be building a wall.

You’ll need it, to keep desperate people in. – Garth