Judging

Lately I ghosted or deleted a mess of comments from people who don’t like immigrants. Their numbers are growing. Or, at least, their boldness. In many societies it’s acceptable now to say things like, ‘America for Americans,’ ‘Italy for Italians’ or ‘Alberta for Albertans.’

Tribalism is rampant in a world where globalism is inevitable. Climate change alone probably means millions will be on the move. When wealthy societies raise the drawbridge in order to protect their privilege, conflict can’t be far behind.

But this is not just about newcomers. Days ago I punted Michael’s anti-immigration comment so he sent me a nasty note by email.

“I raised perfectly valid concerns with comments you made on your blog two days ago that many people resonate with,” he protests. “It is indeed your blog, and I now fully realize that essentially you do not want to be challenged on your myopic world view when it comes to housing policy, sustainable levels of immigration, etc.”

Spurned from my free seven-day-a-week (did I mention free?) advice-laden blog, his manhood now at stake, he lashes out a little more:

“I think it is pretty clear you are tired of being challenged at any level… I have a strong sense that your blog essentially serves only to recruit people to invest with your company no matter what the conditions of the market are; rental is good (more money to invest with you), housing purchases are generally bad (more money to invest with you), and no changes whatsoever should be made when the market tanks 12% in a year as you will get your 1% from each portfolio.”

Well, Mike can think what he wants. He can read my words. He can exit. But he doesn’t have the right to use this site to blather on about how we have too many brown or yellow folks sucking up all the houses. As for the blog being commercial in nature, everyone’s free to judge that for themselves. Whether I was running a practice to manage money or not, my views would hold. We have an unhealthy real estate fetish in Canada. Most of us are financially illiterate. People invest in ridiculous, reckless ways. And nobody – not newcomers, the government, the central bank or George Soros – is responsible for your situation. You did that. It’s in your hands. You control it. Be balanced in everything.

Is renting better than owning? For some people, absolutely. They may want the freedom to chase a job or a love. They could enjoy changing the scenery every few years without a big expense, real estate agents or fickle buyers. They may want liquidity instead of debt. Maybe they just don’t care to roll the dice and put everything into one address on one street in one town. Or be a slave to condo fees, property taxes or a croaking furnace. Don’t judge. It’s a valid choice.

Sometimes owning is bred in the bone, cultural or done by rote. An amazing number of us think we can’t procreate without a backyard and a mortgage. Recently a whole nation has been FOMO’d into believing leveraged real estate is the only way to grow wealth. And, for sure, there’s an inbred bias (and fear) when it comes to liquid assets or scary financial advisors. Also understandable.

As for Mike’s snark about staying invested when markets go down instead (presumably) of screaming and going to cash, let history be the guide. Timing stuff does not work. It’s why so many DIYers flail and fail. They end up selling things low then buying again when they’re high. They invest on feelings, not logic. They don’t take profits when they should and hang on to losers until they recover, or go to zero. The best course of action is simple. Get the right weightings. Rebalance every year or so. Ignore the noise.

Did you see that latest poll from Edward Jones? It found Millennials (now hitting age 40) are pathetically behind on saving. Over 70% aren’t socking away enough for retirement. A third save nothing. They blame inflation, debts and jobs. But when asked, 66% say their money is not being invested because it’s going for… guess what?… nesting.

Yup, that’s also a valid choice. But for a generation where pensions are scarce and urban real estate is insane, it underscores how great a risk folks like Mike downplay. The goal of life is not a house. It’s making the utmost of your time.

When worrying about property values turns us into xenophobes or bigots, as seems to be happening, we’re on the wrong path. “Because of your blog,” he adds, “at this stage I certainly would not invest my portfolio with your company.”

What a relief.

About the picture: “This is Eddie,” writes Johnny. “Sadly he is gone but never forgotten. Lots of spirit and a great friend. Thanx for the blog Garth … I  have never looked back since coming here. I often wonder just how many people you have changed for the better. Guess we will never know. All the best to the team …”

243 comments ↓

#1 Gone For A Long Long While on 11.17.22 at 2:02 pm

Daily reader for many years here Garth. I find your advice sound, your logic reasonable and your humour intelligent. Big fan! Keep up the good work, but for the love of Dog just ditch the comment section altogether.

#2 Doug in London on 11.17.22 at 2:03 pm

Recently Garth wrote a posting about the advantage of immigrants to society. No argument there, makes sense to me. I recently read an article in the Globe and Mail about how immigrants can save us from ourselves. The idea was that obviously immigrants don’t have that anti immigrant sentiment. That’s good because it keeps the kind of mentality that breeds this far right populism, or tribalism, under control. Again, no argument there, makes sense to me.

The one problem I have personally is where are we going to put all these people? We can’t seem to build enough houses for the people we have here now, and of course that nagging homelessness problem. What’s needed is a serious move to higher density housing rather than more reckless urban sprawl, but that doesn’t seem to be forthcoming either. I think we should continue to have immigration, but this goal of 500,000 per year appears to be more than we can handle.

#3 Søren Angst on 11.17.22 at 2:05 pm

D.O.M. today …

Touches finger on body and

“sssssssss”

heard far and near in an onomatopoeic way.

Keep being you Garth.

#4 Landlord no more on 11.17.22 at 2:06 pm

“What a relief” !!!!
My laugh for the day!
Thanks so much for your blog. It helps me with the panic I see and feel all around me.

#5 jack on 11.17.22 at 2:07 pm

Seems like some of my comments have been labeled racist and deleted. Can you please explain why it is racist to partially blame immigrants for driving up the price of houses? Business 101 says that increased demand drives up prices. If Americans started moving to Canada in droves and I blamed them for increasing prices, is that racist? A percentage of immigrants are white, is it only racist because the majority of them are not? If I was Asian, and blamed Asians for driving up the price of houses – is that racist?

Easy credit, FOMO and dumb political decisions drove up prices. Newcomers had zippo to do with it. – Garth

#6 Tom on 11.17.22 at 2:08 pm

That a boy, Garth. Right on point, well articulated and gets to the heart of the matter. Time is the great equalizer and it is how you spend, invest and compound it that will pay the greatest dividends in life. Align your financial resources and energy behind that and don’t envy what your choices don’t give you. If what others have actually meant enough perhaps consider making different/better choices.

Compassion for Mike. Maybe he will get it one day.

#7 Do the Math Bozos on 11.17.22 at 2:13 pm

All we ever wanted was a fully stuffed RRSP, a skookum bank account and no interest charges or debts.
Life is for living not for dying paying off debts and bills.
We achieved it – but first we had to sell the house.
Then there was so much money we are buried in it.

#8 Flanneur on 11.17.22 at 2:14 pm

Some people have too much anger, and time. It’s a blog.

#9 unbalanced on 11.17.22 at 2:15 pm

Can I tell Mike to take a flying f$#@&*,!,,,,. Please

#10 Jason on 11.17.22 at 2:17 pm

Michael is a whiner and complainer. Playing the blame game for one’s own failures is never going to work. People can have great success in this country (however they want to define it) and it’s their choices that are the primary driver to that success.

Also Garth, I guarantee you, your blog and your colleagues have helped way more people with financial literacy and improving their lives. We’re just quieter about the whole thing.

#11 Shawn on 11.17.22 at 2:18 pm

Canada Pension Plan inflation increase

#174 Charity on 11.17.22 at 1:04 pm
#160 Shawn on 11.17.22 at 11:29 am

Is there a link? I was trying to find this info and don’t see it anywhere.

*************************
https://www.canada.ca/en/treasury-board-secretariat/services/pension-plan/retired-members/rate-pension.html

#12 GW on 11.17.22 at 2:21 pm

Much virtue on display here…

#13 Chris on 11.17.22 at 2:23 pm

Well said Garth – and enjoy your blog daily! Indeed, the uglier side of human nature is on display, emboldened by equally ugly leaders in certain areas and countries – but I am heartened by the many simple acts of kindness I do see day to day. Neighbours helping, nurses working extra hours, teachers reaching out to help with students. To better days ahead…

#14 XEQT and chill on 11.17.22 at 2:26 pm

If renting sucks so much, why do most people in the most livable city in the world (Vienna) rent?

It’s amazing how some people reveal how closed minded they are when they bash renting or bash immigration. They flooded the prairies in Canada with immigrants at the start of the 20th century.

But hey, their skin was white, so nobody had a problem I guess.

#15 omasare on 11.17.22 at 2:27 pm

Thanks Garth. They should also remember immigrants are needed in other places than Canada.

As the saying goes be careful what you wish for

#16 Søren Angst --> Dolce Vita on 11.17.22 at 2:28 pm

#93 Faron yesterday

Read this from a well-respected journalist who has followed Elon for some time.

——

I did.

Holy Moses. Pretty damning. A lot of corners were cut yet Elon came out of it in one piece. Teflon Man.

Still, when it comes to Elon my thinking akin to a House Divided.

—————

#137 Charity yesterday

Did you take the urine test? – Garth

Newbies.

Oh Dolce … maybe you can convince Garth to allow for another post?

——

Well, it reads I’m the Newbie (Charity: “I’ve been here since 2008 pre smokey”) AND MERCIFULLY, I was spared the Urine Test by D.O.M.

Sorry Charity but when I read Garth’s reply to you I died laughing and had to chime in – an irresistible force.

As for Italia, it has been a dream come true and none of it would be possible without 🍁. Life here for me remains La Dolce Vita and Il Bel Far Niente. The Italians are bat$h!t crazy (I fit right in) and I have loved every second of it.

As for another Italia update, NOT A CHANCE, SNOWBALLS HOPE IN HADES.

You got me to thinking:

1. We survived one of the worst Pandemics in human history.
2. Ukraine is winning the war, Slava Ukraini.
3. The CBs are finally raising rates.
4. My Threadbare Portfolio in the face of a Bear Market eked out a +2 digit % Total Return this year so far incl. dividends. *
5. yeah oil.

Thus, I am retiring my Søren Angst handle as of today and reverting back to Dolce Vita.

Thanks for getting me to taking stock. Grazie Mille Charity (Blog Paleo/Aristocrat).

* And yet again, Grazie Mille Garth et. al. None of that possible without this Blog.

————-

PS:

Garth I know you are hot under the collar tonight but n’est sizzlest pas at Italia. That was Salvini years ago, now he is tamed by Giorgia Meloni that cracks the whip here in Italia as all good Moms do.

BTW, Italia just started blocking ports to the NGO Migrant Ferry Lines (a.k.a, BODY TRAFFICKING). Most of their Migrant passengers get deported by the EU.

2022 2nd Qtr EU Migrant Deportations + Summary Latest News

FR = 8750, ports closed for years to NGOs but shake finger at evil Italia
GR = 8750, Coast Guard shoots at NGO ships
DE = 8275, Willkommen & now you can leave (quietly)
IT = 6020, and WE’RE THE BAD GUYS that do none of the above.

Immigration law enforcement in the EU: 2021 figures
https://ec.europa.eu/eurostat/web/products-eurostat-news/-/ddn-20220519-1

You see Canada, you vet your LEGAL Immigrants from afar, … imagine this NON-VETTING operation happening on a sea shore or Lake Ontario near you:

https://youtu.be/TbIc1LZqIAw

Italia is for Legal Immigrants not just Italians Garth. We have no problems with legal immigration.

BTW, I read Canada is in need of immigrants. Let the NGO Migrant Ferry Lines know. Suggested port of call:

Lunenburg, NS

Then get back to me Garth.

#17 ElGatoNeroYVR on 11.17.22 at 2:28 pm

Clearly the origninal poster has’t been enough on youtube channels providing similar free type advice or reviews, where you get pestered all the time to “Subscrive”,”Like my video”, “Hey ,here’s my Patreon ,support my channel ” ,”Join my chnanel” a.s.o.
This blog does nothing of the above and while a lot of posters don’t agree with every single one of Garth’s views or advice, we still have respectful ( other than the ususal suspects we all know and love to more or less of a degree) exchanges and never get our posts deleted.
Keep the course Garth and team .

#18 TurnerNation on 11.17.22 at 2:28 pm

Michael sez: U r a pooh-pooh head

Also Michael: “Dear Advisor/adviser get me to cash at once!”

————–
In this country we have Lifetime Politicians. Term after term after term.
T2, Toronto’s Mayor; Ontario’s premier.
They are steamrolling ahead with the agenda kicked off March 2020 (if you didn’t then catch it.)
To me this is all in support of the MEGA UN Smart Cities here.

.Six developers bought Greenbelt land after Ford came to power. Now, they stand to profit (thenarwhal.ca)

.Doug Ford’s Tories to revamp regional governments in Peel, York, Halton, Durham, Niagara and Waterloo (thestar.com)

.New strong mayor rules called ‘anti-democratic assault’ (thestar.com)

.If you thought our mayor was strong now, he’s about to get even stronger (thestar.com)

.John Tory appoints Scarborough councillor Jennifer McKelvie as deputy mayor (cp24.com)

——
— ooooh a permanent State of Emergency. Who’d have thunk it so.

https://www.colorado.gov/governor/news/9056-governor-polis-takes-action-response-covid-19-rsv-influenza-and-other-respiratory
DENVER — Today, Governor Polis signed an Executive Order amending and extending the current COVID-19 disaster declaration to include RSV, influenza, and other respiratory illnesses.

#19 Immigration on 11.17.22 at 2:35 pm

Not all countries adopt the insane immigration policy and numbers that Canada does.

Japan preserve its culture and does not accept new immigrants.
Saudi Arabia does not accept not Muslims.
Israel does not accept not Jews with exception of the family members of the Jewish person.
Russia does not accept the immigrants from the ME and Africa. Only from EU the the former USSR.
It is very difficult to obtain the landed immigrant status in Switzerland.
Australia is rather selective who she takes and on condition that the new immigrant must adopt to the tradition of Australia, not the other way around.

Many in Canada express concern with the government immigration policy. As long as Canada is democratic country the citizen / taxpayer must have right to challenge government on its policy.

Picking people based on racial profiling or religious beliefs is nothing to emulate. – Garth

#20 IHCTD9 on 11.17.22 at 2:40 pm

“Or be a slave to condo fees, property taxes or a croaking furnace.”
_____

Years back, springtime, the mercury switch on my sump pump got hung up and I ended up with knee deep water in the cellar. I didn’t think about it then, but the oil pump/blower/motor assy on my furnace had been submerged – probably for days. Early the next year, now in the dead of winter; I decided to fire up the old oil burner just to make sure she still runs (Main heat is pellet stove). Seized solid, end to end.

Old houses are like old dozers, the owner had best be handy, and have access to a full machine shop.

#21 stealth on 11.17.22 at 2:43 pm

If you filter out the noise, My understanding is that individual where (Alias=Mike) will invest with Garth at a later stage. All good.

Thank you

#22 TheSpangler on 11.17.22 at 2:46 pm

“The goal of life is not a house. It’s making the utmost of your time.”

Can’t agree more. Thanks for all you do here.

#23 Damifino on 11.17.22 at 2:49 pm

For a while there residential real estate was a great way to go. From 1985 until 2010 my home went up by a factor of eight.

For 25 years I lived in a very modest home. Believe me it wasn’t much to behold but at least it had a roof (which I personally repaired many times) In the meantime, land values skyrocketed.

So I took the money. Sooner or later you’ve got to get out of the game and take the money. You mustn’t buy another house with it. You’re done with houses. Time to diversify as well as get your mitts on some of that wealth. Why is so hard to understand?

Now the residential housing boom has had it’s day. It you were in then I hope y’all got out when the getting was good.

The day has come where wealth must be built in other ways. Hint: crypto isn’t one of them. Pay attention to people who know how to create wealth slowly but surely. Don’t get mad about it. Just get on with it.

#24 PeterfromCalgary on 11.17.22 at 2:50 pm

Pandemic, Putin, inflation, house lust, crypto, a mentally ill Canadian attacking Nancy Polosi’s husband. We live in crazy times and that makes some people get abusive.

#25 chalkie on 11.17.22 at 2:50 pm

Don’t worry about the jealous type that take a run at you Garth, you are doing a great job in your blogs, in most cases they can’t handle the facts or the truth, that’s a fact of life and they most likely are not happy with their own decisions.

What housing shortage, I have no idea what the Feds are talking about, go onto almost any realtor/broker sites and compare their site from just six months.

There is no home shortage, we have a price problem, in fact some areas are showing an oversupply on their yearly listing averages.
Homes for sale are piling up and it will get worse as time goes on.

For sellers, it is important to price your home in line with the most recent market SOLD comparable and not the LISTING comparable.
Buyers are scarce, don’t get passed by, if you need to get out, waiting right now is costing you money as the homes continue to get reduced in price.

Pricing above market value will limit the number of showings and is unlikely to lead to a competitive offer, we are in a downward market, accept it and move on.
There may be a couple little hot areas, Canada is a large spread of land, the chances of you being in those little zones, would be winning a lottery right now.

Canadian Home Prices Are Falling Faster Than They Did In 2008, how low will they go, its anybody’s guess, indications so far point toward a hollow hole and the bottom is nowhere to be seen yet.

It’s easy to spend someone else’s money, but for my own – I would not venture into any real estate market anywhere in Canada right now, we are looking at a minimum of two more interest rate increases by the BOC before it allows for a pause.

The BOC may even skip a quarter to see what happens, but inflation is still alive and strong, the Fed’s 2% goal has a long way to go.

We will lose more real estate agents through quitting in 2022, it most likely will be a record according to Ricky Carruth.

Real estate Career is not for the faint of heart. Too many new agents never get a fair shot at showing what they can do given competent leadership and mentoring, they dont give it the time, energy and sometimes not given the chance.

A study from Oxford University found that automation is projected to replace 50% of all current jobs in the next two decades.
The same study predicts automation is 86% likely to replace traditional “real estate sales agents” and 97% likely to replace “real estate brokers”.

Educating our kids and grandkids to become realtors, might not be good long-term advice to give them according to the likelihood of being replaced by automation.

It has been a long time in coming, but the writing has been on the wall for a while now and 5% commissions on sales with little to no investment in the property for sale by the realtor is highway robbery for the client, it must and it will change the way we do business in the late 2020’s decade.
Some agents even have the gall of asking for an exclusive listing, with no investment in your property, practice and rehearse your answer before you even reach out to any calling broker or agent, the answer is always No, No and No for exclusive listing.

The sale must always be in your own interest, you need as many realtors bringing clients through your door as possible, not just a few by any one agent. Your home most likely will be the biggest asset that you will ever invest into and own in your entire lifetime, look after your investment and profits because no one else will, nor do most people care about your losses.

Speaking at an auto industry conference in Windsor, Ont., Freeland said she would be honest with Canadians about the roadblocks that lie ahead and the threat of higher unemployment and mortgage rates — developments that could hurt many households.

“Our economy will slow. There will be people whose mortgage rates will rise. Businesses will no longer be booming. Our unemployment rate will no longer be at its record low. That is going to be the case in Canada.
That will be the case in the U.S. and that will be the case in economies big and small around the world,” Freeland said.
Insolvencies in Canada surge from pandemic lows as high inflation, rate hikes bite into our savings to stay afloat, while we try and feel where and how the housing markets will settle with any hope of recovery sooner than later.

The message is clear, learn to prepare.

Quote of the day: Wealth is like sea-water; the more we drink, the thirstier we become.

#26 Marvin on 11.17.22 at 2:50 pm

Much of what you write is true, Garth. I have no idea what Mike wrote about immigration, but there is merit to asking *some* questions about immigration.
(and to preface, I’m a first generation immigrant).

1. Canada actively discourages immigrants from working in the professions they were trained in prior to coming to Canada. They often end up under employed.

2. Low wage and/or low skilled workers, while ‘helpful’ to the global megacorps and other organizations that rely on cheap labour, are not a net benefit to Canada if they are not able to earn enough to support themselves. This isn’t the immigrants fault; but it is a factual outcome.

3. Who is it that actually wants to come and live in Canada at a time when the average single family home costs $800,000? The reason my family came here was because of the Canadian dream. Simple families could build a middle class life. That is certainly no longer true. We need to get our house in order first. That isn’t an anti-immigrant statement; that’s a stark description of what awaits prospective immigrants.

#27 Highlander on 11.17.22 at 2:51 pm

Happy to be opposite of Mike. It’s because of this blog that I am considering investing my portfolio with Garth & Co. I am not feeling the slightest bit “recruited”.

It’s beyond me why some folks need to challenge this blog’s host. Solid, Helpful FREE advice is all it is, nothing more to it.

Getting your knickers in a knot over free advice that you seek out, well that’s just weird………Enjoy & Respect the free daily entries or do something else with your time.

#28 Prince Polo on 11.17.22 at 2:54 pm

We’ll know the real-estate-itis of Canada is cured when my name gets put forth as a nominee for a Nobel Economics Prize for being a loser renter. “He was ahead of his time….” they’ll say. Until then, carry on!

#29 crowdedelevatorfartz on 11.17.22 at 2:57 pm

“Most of us are financially illiterate.”
+++
I had dinner last Saturday with a couple who are in their late 70’s. (He still works at 79)0. They wanted to ask me about investing an inheritance ( his mother died at 102!)
They have ZERO savings…
The inheritance? Maybe a few hundred K.
I didnt know if RJ would even look at them but I encouraged them to check out their options.
A co-worker in her late 60’s with zero savings is expecting an inheritance ( maybe150k) in a few weeks.
She already has it spent. Kids are getting some. Holiday to Hawaii, a new car….poof, gone.
Broke again in a few months….
Other friends, coworkers and relatives are in the same boat…..
Sad and Frightening.

#30 Classical Liberal Millennial on 11.17.22 at 2:59 pm

People need to be reminded you do this for free and not to gather business like some seem to think. I would like to respectfully ask though, how many is too many? There still needs to be a realistic limit of how many we can welcome into our borders each year, no? Not just for housing, but for a failing, sinking health care system that is ill-equipped to handle our own aging population. Thanks for all you do though. I mainly lurk and don’t comment often, but I enjoy seeing your new post every afternoon!

#31 Parksville Prankster on 11.17.22 at 2:59 pm

The great thing about your blog, aside from the entertainment factor, is that you point out that Canadians have financial options. There’s a world beyond individual stocks or bonds or residential real estate.

Obviously, everyone’s life circumstance, financial situation, and local real estate market is unique, so there’s no one size fits all. Clearly, for those that don’t want the hassle of doing it themselves, you will work with them to set up and monitor a plan.

For everyone else it’s a cool place to hang out, discuss a wide range of topics, and maybe learn a thing or two.

For free!

What’s not to like?

#32 DON on 11.17.22 at 3:02 pm

#170 Ronaldo on 11.17.22 at 12:50 pm
#150 Penny Henny on 11.17.22 at 10:32 am
#137 Charity on 11.17.22 at 4:06 am
————
Oh Dolce I’ve been here since 2008 pre smokey I just choose not to comment and blow hot air like Faron et al and make it look like I know everything all the time on every subject. (I have my questions as to whether he is the old Sean from back in 2014ish that everyone used to banter/slam with the same way)

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

Faron can’t be the old Sean (aka Mark and The Real Mark).

Although both think they know everything about everything, but they differ in that Faron is an emotional wreck while Sean was kind of void of all emotion.
Who was it that used to pester Sean? Leo Trollstoy?
—————————————————————-
And let’s nor forget “Devils Advocate”. Another know it all realtor from Kelowna. He took a lot of thrashing too.

***********
I just got shivers from the mention of Devil’s disAdvocate. And then there was Josef or Joseph.

@Charity

I don’t think Faron is a renamed old poster. Different personality from Sean or Mark.

#33 Not xenophobic, just logical on 11.17.22 at 3:03 pm

When worrying about property values turns us into xenophobes or bigots, as seems to be happening, we’re on the wrong path.

I think there should be a moratorium on mass immigration until we fix the housing crisis. I don’t think that’s an unreasonable position, given the current situation.

What housing crisis? – Garth

#34 Inequity on 11.17.22 at 3:03 pm

Alberta for Albertans??? I’ve never heard this living in Alberta. Is that the impression of Albertans from outside maybe?
At any rate, Alberta’s economy needs workers, so whom ever might think that is not thinking it through.

The same holds for the Dominion of Canada. She needs people. And if you think it’s getting crowed or expensive, move 300km north. You will find that Canada has an abundance of inexpensive land once you stop hugging the 49th.

#35 earthboundmisfit on 11.17.22 at 3:04 pm

Mike’s got a lot of nerve ragging on a guy who hands out all the financial advice 80% of Canadians will ever need. FOR FREE. Pretty sure that unless you’ve got gazillions and need a lot of tax advice, hand holding, and protection from your own stupidity, Mr. Turner is good with your keeping $10K (on a million) in your own jeans, by DIY-ing on his FREE ADVICE. Full disclosure: I’m of Scots heritage.

#36 Ian on 11.17.22 at 3:06 pm

Hi Garth, I am one of those millennials who is 40 and rent. We save and invest and I guess we are not like those in this survey; but what does that mean for a social system where a majority of an age cohort saves nothing. Can we not expect our Government to eventually, one day, bow to the larger voting block as millennials age? Not saying I wouldn’t recommend saving; but if a whole cohert is retiring poor and controls the vote for awhile; I dunno I could see it being a possibility that a future Government hands out some significant boost to income. Who knows the future though…. Thanks

#37 Gramps on 11.17.22 at 3:10 pm

“The goal of life is not to own a house”
Amen to that.
I’ve never seen “Had a nice house” on a gravestone.

#38 crowdedelevatorfartz on 11.17.22 at 3:13 pm

IHCTD9
“the oil pump/blower/motor assy on my furnace had been submerged – probably for days.”

+++
Uggh.
Oil furnaces.
Living out west with Nat Gas heating I cringe when I go to the east coast and enter a house with an oil furnace.
The house reeks of Diesel.
I get used to it pretty quick but you have to wonder about the fumes and what side effects they have.

#39 Dave on 11.17.22 at 3:13 pm

DELETED

#40 Søren Angst --> Dolce Vita on 11.17.22 at 3:13 pm

Garth, Cdn MSM have no clue as to what is happening with illegal immigration in the EU and if they do, they are not reporting it, my guess because Italia now has a Righty Gov.

But its all BS.

Italia has had to bear the brunt of Body Trafficking. View Lampedusa Island:

https://twitter.com/bsant54/status/1593336072225935363

Here is Saint Lefty Spain mid year which as of late scolding Italia …

https://www.france24.com/en/africa/20220625-18-migrants-die-in-mass-attempt-to-enter-spain-s-enclave-melilla-in-marocco

https://www.rfi.fr/en/africa/20220627-au-calls-for-investigation-into-migrant-deaths-violence-on-morocco-spain-border

Then there is Saint France that also scolds Italia …

https://www.dw.com/en/france-to-deport-44-migrants-after-row-with-italy/a-63770652

[a.k.a., how dare you Italia send Migrants to muck up our Côte d’Azur]

And, for all you Greek Island lovers be very scared of their Coast Guard if they think you are a Migrant …

https://www.youtube.com/watch?v=Y7Y3moC6Cxc

Oh almost forgot, dear Sweet Innocent Denmark … Valhalla it is not

https://www.euronews.com/my-europe/2022/10/10/denmark-election-parties-on-left-and-right-back-controversial-plan-to-send-asylum-seekers-

https://www.omct.org/en/resources/news-releases/denmark-outsourcing-the-detention-of-foreigners-to-kosovo-sets-a-dangerous-precedent

————

And EVIL Italia & it’s Coast Guard this past week …

Italy’s Coast Guard Rescues Migrants, Including a Newborn Baby
https://www.youtube.com/watch?v=5qdhQeM4IDg

All poor Italia does is ask that you apply under existing Immigration Laws.

Is that so bad? Do you see us doing what other countries are doing?

No. Not all.

#41 Father’s Daughter on 11.17.22 at 3:17 pm

In Ontario, where many newcomers come, housing is extremely unaffordable. Our health care system is a disaster. Family doctors are becoming rare. Education, not so hot. Refugee advocates are seriously questioning why we keep bringing in more when there is no support here for them whatsoever. They languish. It’s very sad. One hell to another.
Had dinner with a friend last night, couple who are both gainfully employed – over twenty weeks pregnant with first child (stressful at baseline). They have not been able to see a doctor. Not available. Not surprisingly, they expressed concerns re: so many newcomers, no new services. It’s a fair argument. Let’s come up with a plan, and I’m happy for more people to join us.
My husband is an immigrant and his family has done okay, however the same standard of living would be nearly impossible to achieve today. People are going to pack up and go home anyways.

#42 old guy on 11.17.22 at 3:20 pm

As a natural gas ticket holder, and propane ticket holder, and a pipeline inspectors ticket holder, I caution you.

Submerged equipment is usually condemned.

Why? Because future internal heat chamber corrosion my allow carbon monoxide into the breathing airspace, which is deadly.

#43 Sail Away on 11.17.22 at 3:23 pm

Thanks Garth.

There will always be the disgruntled, and in the end, it’s their own pathology on display, repackaged as insults, bashing and blame of others. Introducing discord for the sake of discord.

Sad… but irrelevant, really. Thanks for your blog.

#44 Linda on 11.17.22 at 3:23 pm

RIP Eddie. He looks adorable, in that ‘you are all of you sinners bound for hell’ way that Scotties do so well:)

Tribalism is unfortunately one of those nasty human behaviors that keep popping up like weeds. Plus blaming others for ones woes is much easier to do than taking responsibility for your own actions. The irony of a society whose ancestors were immigrants pointing the finger at immigrants as the source of all their troubles. Who would have thought?

Hard as it is to believe, the oldest of the Millennial cohort is already in their 40’s. Those who haven’t already begun to save for their golden years had best get started. I suppose it is already far too late for the Boomers who didn’t set sufficient $ aside for their futures. Guess the fallback plan is to just keep working until the Grim Reaper comes calling.

#45 LowerTheBoom...er...not on 11.17.22 at 3:26 pm

Yogism 6: I was taught to tell critics to take a critical thinking course. Made sense.”

#46 Leftover on 11.17.22 at 3:27 pm

As long as about 25% of newcomers are nurses, skilled tradespeople or doctors, then bring ’em on, welcome to Canada!

#47 wallflower on 11.17.22 at 3:27 pm

Eddie, the Scottie, what a dish. A rare breed these days.

#48 Love_The_Cottage on 11.17.22 at 3:29 pm

#33 Not xenophobic, just logical on 11.17.22 at 3:03 pm
What housing crisis? – Garth
_______
The one where the increase in rents is 31% in 1 year

https://www.cp24.com/mobile/news/toronto-rent-prices-have-now-risen-31-per-cent-over-the-last-year-report-1.6109223?cache=kmdeuabt

There are plenty of rentals. This is a financial issue. – Garth

#49 Sail Away on 11.17.22 at 3:37 pm

There is speculation that Berkshire has taken a TSLA position at these lower prices. Charlie Munger had complimentary comments about Tesla, and Elon responded in kind. Waiting with anticipation…

https://www.cnbc.com/2022/11/15/charlie-munger-calls-the-success-of-elon-musks-tesla-a-minor-miracle-in-the-car-business.html

#50 Joe Schmoe on 11.17.22 at 3:38 pm

Why own failures when you can blame someone else?

Things have always been that way, we just see it more because of the interwebs.

25% of AB are immigrants by StatsCan numbers. It’s not as red neck as Justin/CBC want you to believe….

#51 TurnerNation on 11.17.22 at 3:39 pm

Another day in the Former First World Countries. WW3 was kicked off March 2020. Italy and Germany playing lead roles — as in WW2.
Gee a cash ban/shortage who’d have guessed? 2020 was training..we were told that the cash is germy.

https://www.zerohedge.com/markets/germany-preparing-emergency-cash-deliveries-bank-runs-ahead-winter-power-cuts
As Reuters reports citing four sources, German authorities have stepped up preparations for emergency cash deliveries in case of a blackout (or rather blackouts) to keep the economy running, as the nation braces for possible power cuts arising from the war in Ukraine. The plans include the Bundesbank hoarding extra billions to cope with a surge in demand, as well as “possible limits on withdrawals”,

—— We were to be so healthy after 3 years of government Rules and Mandates. :-(

.Shoppers Drug Mart parent company says cough and cold sales hit all-time high Canada’s biggest drugs (cp24.com)

.Europe faces ‘cancer epidemic’ after estimated 1m cases missed during Covid (theguardian.com)

———Peak Leftism? The irony of the Left eating its own in a Lefty city. Defund the pol-lice right they said?
Life in our crowded, fetid UN Smart Cities.

.Starbucks to close 5 Seattle stores over safety concerns (seattletimes.com)

#52 KLNR on 11.17.22 at 3:40 pm

Blaming immigrants/immigration
– the lazy mans narrative of choice.

#53 KLNR on 11.17.22 at 3:45 pm

@#37 Gramps on 11.17.22 at 3:10 pm
“The goal of life is not to own a house”
Amen to that.

I’ve never seen “Had a nice house” on a gravestone.

ya that ones up there with ‘I wish I worked more’

#54 Earlybird on 11.17.22 at 3:45 pm

“But for generations where pensions are scarce and urban real estate is insane.”

That “generation” views RE as a “pension”…most don”t know there are other ways to get around this as they are financially illiterate……this is where you blog shines.

However living attached to a neighbor for the rest of your life is not appealing to most, especially condos, where you are financially entangled…no thanks…

No doubt immigration is needed for already stated reasons but we need to get the amount correct ….but when your religion is not “female friendly” …that crap can’t be ignored either.

#55 Dolce Vita on 11.17.22 at 3:47 pm

Garth, you’re adorable, witty, highly intelligent, funnier than heck and have been giving out FREE & EXCELLENT ADVICE for years and ask for nothing more than some civility in Comments.

I SECOND TSLA Dudes Motion:

#43 Sail Away

And as always Garth, take care, keep being you and Ciao d’Italia.

Illegitimi non carborundum.

#56 wallflower on 11.17.22 at 3:48 pm

Michael belongs on reddit. (Where he would be routinely banned.) His kind of ‘contribution’ does not belong here.

However, were he to continue, I would appreciate his moniker reporting as Michael-The-Wanker so I can handily skip his gibberish as I do enjoy the comment scroll.

#57 Adam Smith on 11.17.22 at 3:51 pm

It’s weird that people seem to need Garth to publicly approve of their anti-immigrant message.

Even if Garth has beliefs regarding the impact immigrants have on housing prices beyond what he shares here, why the hell would he want to discuss it?

He doesn’t set immigration policy, it won’t change his financial advice, and it will attract a bunch more troglodytes to the comments. Just let Garth stay classy and ignore the topic, it’s not relevant here.

#58 Honest Realtor on 11.17.22 at 3:52 pm

DELETED (Shameless self-promotion)

#59 Doing my Part on 11.17.22 at 3:52 pm

Michael sounds like a snowflake.

Perhaps he should get to work to fulfill his desires rather than blame others for his lack of success.

I guess I was lucky and got everything I want, the harder I worked the luckier I got.

Michael should sell his bitcoin, it’s going to zero.

#60 Doing my Part on 11.17.22 at 3:53 pm

Credit to Ben Hogan? for the bastardized quote.

#61 ogdoad on 11.17.22 at 3:56 pm

All walks of life for this guy. Makes our improbable life just that much more enjoyable…

plus, significantly increases my hug probability…which grows almost daily, btw…

Happy whatever day it is

Og

#62 Teddy on 11.17.22 at 3:59 pm

Hi Garth,

Silly to hear comments like that when the vast majority of us come from immigrant origins.

Question for you. As a mill (30) with $200k liquid assets, $50k in corp account and currently renting. Earning $180k/year.

I acknowledge your points and they have led me the right way but I really want to buy a place and work on projects that don’t fly in the rental (backyard rink for one). I’m willing to be patient but how would you determine the right time to buy? Does the rule of 90 apply in the current market conditions or should I sit tight for another stretch of time?

Thank you.

#63 Don Guillermo on 11.17.22 at 4:00 pm

#34 Inequity on 11.17.22 at 3:03 pm
Alberta for Albertans??? I’ve never heard this living in Alberta. Is that the impression of Albertans from outside maybe?
At any rate, Alberta’s economy needs workers, so whom ever might think that is not thinking it through.

The same holds for the Dominion of Canada. She needs people. And if you think it’s getting crowed or expensive, move 300km north. You will find that Canada has an abundance of inexpensive land once you stop hugging the 49th.
#######
I meant to bite my tongue and let this pass so I thank you for bringing it up. I’ve lived and worked around the world and through much of Canada and have never seen anyone as welcoming to immigrants as Alberta. If for some reason GT needed to switch from a country to a province on the 3rd example, “Quebec for Blueboods” might have fit better.

I was just channeling my inner Danielle. – Garth

#64 crowdedelevatorfartz on 11.17.22 at 4:00 pm

@#58 “Honest” Realtor
DELETED (Shameless self-promotion)’

+++
We expect nothing less from a Realtor.

#65 Born in Hamilton on 11.17.22 at 4:04 pm

“The goal of life is not a house.”

I wholeheartedly agree. My wife.. not so much.

#66 BABY'S BUM on 11.17.22 at 4:04 pm

We should STOP LABELLING ourselves as colors, cultures, country people, etc.

One day the ALIENS will land to take over earth then it will become US VS. THEM!

#67 KLNR on 11.17.22 at 4:05 pm

@#46 Leftover on 11.17.22 at 3:27 pm
As long as about 25% of newcomers are nurses, skilled tradespeople or doctors, then bring ’em on, welcome to Canada!

no point with the doctors.
not allowed to be doctors here without fully retraining.

#68 IHCTD9 on 11.17.22 at 4:07 pm

#42 old guy on 11.17.22 at 3:20 pm
As a natural gas ticket holder, and propane ticket holder, and a pipeline inspectors ticket holder, I caution you.

Submerged equipment is usually condemned.

Why? Because future internal heat chamber corrosion my allow carbon monoxide into the breathing airspace, which is deadly.
______

Yeah, it’s junk, and not in regular use. I’m just limping it along at this point to empty the tank. It only runs when I clean the pellet stove (our main heat) when it’s really cold out. I’ve got two CO detectors in the house on account of the pellet burner. Plus the 152 year old cellar it lives in is let’s say – exceedingly well ventilated.

#69 Crystal ball futurist on 11.17.22 at 4:07 pm

99.9% of us respect and have deep appreciation for Mr. Turner and his buddies.
Kindly disregard the 0.1%.
Respectfully.

#70 QuebAnglo on 11.17.22 at 4:07 pm

“80 percent of immigrants go to Montreal, do not work, do not speak French or do not adhere to the values of Quebec society.”

No, that’s not some random turd or troll saying that. It was Jean Boulet, Quebec’s previous Minister of Immigration. He’s still in the provincial cabinet.

If you want to be racist and scapegoat immigrants with no consequences, move to Quebec!

#71 Prefs on 11.17.22 at 4:10 pm

Mostly agree with you Garth. Only thing I think you’ve gotten ass backwards over the years is trumpeting preferred shares as a component of fixed income. The tax advantaged dividends are nice, but they are getting just as rocked as all bonds, when you would expect them to have increased as interest rates increased.

A pretty failed asset class. However, it is only a small piece of the pie. The balanced portfolio is still the way to live.

#72 Polozified on 11.17.22 at 4:11 pm

I’d say “IP ban that guy” but he’s one of those who loves to hate Garth so much that he will do anything to read Garth’s next post.

#73 Honest Realtor on 11.17.22 at 4:15 pm

We should all have a more open and humane attitude towards immigration and what newcomers offer, as Garth shows today.

#74 Be Best on 11.17.22 at 4:21 pm

For some reason… many Canadians think the Government will help them when they retire. Newsflash….CPP and OAS will cover groceries and gas… You need to save for your retirement when you are young and benefit from compound interest. It’s too late when you are 50. If your retirement plan is inheritance.. you are taking a big risk.

#75 greyswan on 11.17.22 at 4:22 pm

Good thing USA has the constitution that cannot be replaced by UN leftie with something similar the 1982 UN charter. American have free speech and no communist tribunals.

#76 enthalpy on 11.17.22 at 4:26 pm

I don’t know about all the personal stuff hurled your way….

but the increased immigration has certainly made things MUCH more challenging here. Not less.

A LOT of us are immigrants too, but either I’m nuts(or racist?) but there is a markedly different vibe to the ones in the last decade compared to when we all grew up.
VERY DIFFERENT. So much so, this place does not look or feel the same at all. And when home grown folks are legitimately struggling to THRIVE in this beautiful country called home…. its easy to understand why some feel jaded with the state of things.

Sure, its all relative and ‘could be worse’ , but thatch not the point I think most are getting at.

At the end of the day, you can only control yourself. I don’t think its ‘racist’ to make some obvious observations.

Besides all that, Im glad to have access to a forum like this where knowledge and wisdom is graciously shared. Thank you.

We are not debating immigration levels on this blog. Period. – Garth

#77 Old Boot on 11.17.22 at 4:29 pm

DELETED

#78 IHCTD9 on 11.17.22 at 4:31 pm

IMHO, Immigration at these rates do likely present problems – mainly due to the fact so many of them will almost certainly head for their respective Canadian diasporas. This has always been the case. In decades past, these were centered around Churches of various national denominations. They were small and numerous – spread right across Canada. Big city, and small town alike. Today we have National and Ethnic “burbs” – they are few, large, almost exclusively Urban, and often densely populated. Success will come with the spreading out of newcomers throughout the Country. Just don’t ask me how the hell this will happen. We all know where most of the jobs are.

IMHO #2. As I’ve said a couple times, 500K isn’t enough given 35-40% worth will eventually be leaving. If the forecast of 2 workers for every retiree by 2036 is accurate (I hope to heck not), then we are cruising for a massive problem. Then add on the Trillions in public, mortgage, and consumer debt we’ve snorted up under historically low rates. Now spread on the icing, those rates are gone for good.

It’s a disaster in the making.

#79 Alberta Ed on 11.17.22 at 4:32 pm

We are all immigrants, going back through history. One of Canada’s strengths is its diverse population, people with different talents and outlooks and educations and religions from thousands of different places. Most come to Canada to build a better life. Sadly, Canada’s immigration bureaucracy seems incapable of processing them efficiently, and there are too many regulatory barriers that prevent qualified immigrants from exercising their professions.

#80 The real Kip (Ret) on 11.17.22 at 4:36 pm

Message to Mike,

Why are you stressing about the deleted comments? Comments are hand filtered meaning the target audience does in fact read them. About 50% of my comments are deleted. No worries. I didn’t make them to the steerage section anyway.

If you weren’t a grumpy old prick 50% of the time, we’d be good. – Garth

#81 KLNR on 11.17.22 at 4:43 pm

@#76 enthalpy on 11.17.22 at 4:26 pm

A LOT of us are immigrants too, but either I’m nuts(or racist?) but there is a markedly different vibe to the ones in the last decade compared to when we all grew up.
VERY DIFFERENT. So much so, this place does not look or feel the same at all.

We are not debating immigration levels on this blog. Period. – Garth

funny how some immigrants think they were the last of the good ones.

#82 AM in MN on 11.17.22 at 4:50 pm

Tribalism is rampant in a world where globalism is inevitable. Climate change alone probably means millions will be on the move. When wealthy societies raise the drawbridge in order to protect their privilege, conflict can’t be far behind.

————————————————–

Have to disagree here. Who moves to Canada for the better climate?

They move to the western countries because of the rule of law and private property rights.

The question becomes, why didn’t they fight for these things in their own countries? Suppose “they” start voting for the same corruption and disfunction that they left behind? (like refugees from CA & NY to TX & FL)

If our ancestors worked hard and fought to create a society that we like, shouldn’t we have the right to continue the work and pass it on to the next generation?

If people in Canada (or the US or Europe) wanted to live in a corrupt dictatorship, they could move to one.

Also, no one would be moaning about immigration to Canada if they were all headed to Thunder Bay or Northern Sask.

The costs of upgrading the infrastructure and services (like healthcare) in the big cities is a valid concern. When elites dismiss these concerns, they get people like Trump running the show.

#83 Yorkville Renter on 11.17.22 at 4:56 pm

I simply don’t understand why someone MUST complain online and argue and DEMAND TO BE HEARD.

If you didn’t know, posts here doesn’t extend beyond this site – no laws, regulations or minds will be changed by virtue of people posting on this site.

get a grip, Mike… sheesh.

#84 enthalpy on 11.17.22 at 4:57 pm

#81 KLNR on 11.17.22 at 4:43 pm
@#76 enthalpy on 11.17.22 at 4:26 pm

A LOT of us are immigrants too, but either I’m nuts(or racist?) but there is a markedly different vibe to the ones in the last decade compared to when we all grew up.
VERY DIFFERENT. So much so, this place does not look or feel the same at all.

We are not debating immigration levels on this blog. Period. – Garth

funny how some immigrants think they were the last of the good ones.

_
Funny how you, all on your own, came up with that assumption.

#85 KLNR on 11.17.22 at 4:59 pm

@#82 AM in MN on 11.17.22 at 4:50 pm
Tribalism is rampant in a world where globalism is inevitable. Climate change alone probably means millions will be on the move. When wealthy societies raise the drawbridge in order to protect their privilege, conflict can’t be far behind.

————————————————–

Have to disagree here. Who moves to Canada for the better climate?

They move to the western countries because of the rule of law and private property rights.

The question becomes, why didn’t they fight for these things in their own countries? Suppose “they” start voting for the same corruption and disfunction that they left behind? (like refugees from CA & NY to TX & FL)

If our ancestors worked hard and fought to create a society that we like, shouldn’t we have the right to continue the work and pass it on to the next generation?

If people in Canada (or the US or Europe) wanted to live in a corrupt dictatorship, they could move to one.

Also, no one would be moaning about immigration to Canada if they were all headed to Thunder Bay or Northern Sask.

The costs of upgrading the infrastructure and services (like healthcare) in the big cities is a valid concern. When elites dismiss these concerns, they get people like Trump running the show.

for the climate? not likely.
because of climate change in their part of the world, absolutely.

#86 Yorkville Renter on 11.17.22 at 5:05 pm

#48 – rents increasing 31% –

I don’t think this will last, but the percentage is deceptive… rents crashed HARD in 2020 and are only now exceeding 2019 levels.

The increase from 2019 isn’t close to 31%

#87 Sail Away on 11.17.22 at 5:10 pm

As a first-generation immigrant, I can definitely attest to our settling near Canadians of the same general demographic. This being, in our case, the Scottish heritage on my wife’s side.

Now my Venezuelan sensibilities are tortured by interminable bagpiping, sports involving tree trunks, metal balls and lots of grunting, dresses for both men and women, a strange love for Mike Myers movies, and almost unbelievably odd dancing.

Please. Assimilate us!

#88 Quintilian on 11.17.22 at 5:20 pm

Mike:
What you say is crazy talk.

Garth is honest and truthful. But he is unaware of certain realities, and therefore he does his share of crazy talk as well.

#89 Nonplused on 11.17.22 at 5:22 pm

Mike is quite the mind reader.

You know, the funny thing about mind reading is that everyone thinks they are really good at it, yet the evidence suggests that that skill does not exist in nature.

Well, I suppose some mind reading can be done. For example, if a bear is following you around, he might want your picnic basket. Or if a cougar buys you a drink she might also be looking for dinner. You can also probably assume a car salesman would like to sell you a car. But that doesn’t mean that’s the only thing he ever thinks about.

So, ya, Garth might want customers for his financial management business. But a purer sales pitch could not be found. You can read this blog, and know exactly what he’s going to do and why. You don’t have to buy his services. I don’t, and he still lets me comment. (I did buy a couple of his books and a few trinkets from his store, TBF.)

Remember, folks, most of the time you see what you want to see, not what’s there. Sometimes there is a resemblance. But Darwin don’t care whether you have the right idea, only that you take the right action. So stay away from bears. And cougars. And be balanced.

——————————–

Of course we all know we can trust the news, right? Holy crap, a few days ago my son proclaimed that Russia had attacked Poland and we were all going to die in a nuclear holocaust! (He’s 16.) I told him to wait 48 hours because the first cut of the news is usually wrong. Sure enough within 12 hours AP withdrew their story and Zelenskyy is the only one who still believes it. Even NATO don’t, although they still managed to make it Russia’s fault that Ukraine don’t know how to run their equipment.

To understand the news, you have to understand three things: It is a revenue based business, thus the goal is views not truth, and it is used for propaganda.

The first story out of the gate gets the most clicks and boosts, and becomes the truth. When we find out later that Ukraine attacked Poland by accident, nobody hears about it. Either they don’t have time to stay with the story or or they prefer to believe the original version. But either way if the falsehood is widely circulated before the truth comes out, people are loath to accept that they have been duped. “I read it on AP!” they will cry. “Ya, but AP has retracted it.” you will say. “It’s still true.” is the conclusion they draw. After all, we can all tell what’s true and what’s bullcrap, right? We see ourselves as very good at it. That’s why we are all millionaires, having proven time and time again we are smarter than the markets. Getting rich is easy, because we all have above average intelligence. (sarc/off)

Most of what you know just ain’t so. People are not naturally honest, so what you hear or read can’t be trusted. Nor are they logical calculating machines, which is why most of what you think can’t be trusted either. And that is why you don’t time markets. You don’t know anything about it, and what you think you know is probably just a lie somebody told you.

Bitcoin wasn’t a lie, it was a “proof of concept”. But the people who turned it from a scientific experiment into an investment, well, they lied.

Garth, on the other hand, does not seem to lie intentionally. Ya, he gets stuff wrong, but it’s ok. His system insulates him from himself too, not just us.

So don’t be afraid to follow Garth’s advice. Don’t buy too much house, don’t chase trends, stay balanced, don’t panic, and get a dog. That’ll get you there without having to be an expert.

Remember folks, if it ain’t foolproof, you’ll break it if you fiddle with it.

#90 Wrk.dover on 11.17.22 at 5:28 pm

Because tandem sump pumps, one being the automatic backup, would cost one day’s wages!

I’ve said it before. And was fended off….

#91 the Jaguar on 11.17.22 at 5:29 pm

” I was just channeling my inner Danielle. – Garth”+++

For the love of Pete, Garth. One of her is more than enough. Here is the latest:

“Premier Danielle Smith has fired 11 members of the Alberta Health Services board and replaced them with an administrator.”

She’s like a one woman wrecking ball! Somebody get Jason Kenney on the phone. We can’t lose any time severing rational minds and peeps from the UCP and forming a new provincial party to run in the next election.

We need to lower the lifeboats and exit this pirate ship. Time is of the essence. Women, children and Jaguar’s first!

#92 Nora Lenderby on 11.17.22 at 5:31 pm

Yes, there are obviously some clients that would be more trouble than they’re worth.

A little story about George. He was at our marina. One day we arrived and he couldn’t wait to tell us how insulted he had been by an Ottawa cleaning company he’d hired.

The company owner had sent a lady to clean George’s house. After spending all day being bossed around by George’s wife, and then being yelled at for not removing burned on crap sufficiently from the oven, the cleaner left in tears.

George called to complain. The company owner came over and explained to George that he was being fired as a client, and to never call for service again.

Poor George – so lacking self-awareness that he tells the story to other people. (We thought it was hilarious.)

#93 Joe on 11.17.22 at 5:45 pm

If you love the following you should Rent an apartment:

1) listing to your neighbour play loud music
2) listing to the person that lives below you playing with his video games with surround sound all hours
3) listing to your neighbour cook hearing cupboard doors slammed and pots and pans
4) lising to your neighbours let their doors slam when they come and go
5) listing to your neighbour pee at all hours of the day
6) your on the top floor because you dont want to hear your neighbours above you but instead you have the mechanical systems that are on the roof vibrate into your unit
7) deal with covid on the elevator
8) listing to parties late at night
9) dealing with building manager who could care less
10) vehicle breakins in the underground garage
11) pot/cigarette smoke coming into your unit via the electrical outlets
12) etc etc etc

over my years renting ive seen it all, heard it all, smelt it all…for my own sanity i had to buy, enough is enough

#94 JWD on 11.17.22 at 5:46 pm

Immigration is healthy – we need it. We need upstanding productive good citizens to contribute. There’s the rub. How many are contributing/ paying tax/ making a difference etc. How many see Canada as a an easy socialist target that gives handouts? One of the problems with socialism. The hard working and successful get taxed; too many stay and home and find a way to cheat or take advantage of the many social programs and govt handouts. No easy answer but many are frustrated with the imbalance.

#95 IHCTD9 on 11.17.22 at 5:54 pm

#87 Sail Away on 11.17.22 at 5:10 pm
As a first-generation immigrant, I can definitely attest to our settling near Canadians of the same general demographic. This being, in our case, the Scottish heritage on my wife’s side.

Now my Venezuelan sensibilities are tortured by interminable bagpiping, sports involving tree trunks, metal balls and lots of grunting, dresses for both men and women, a strange love for Mike Myers movies, and almost unbelievably odd dancing.

Please. Assimilate us!
———-

Those anglos always get us one way or another. I have a Scottish SIL, so we are similarly treated to our niece’s highland dancing over various items of medieval weaponry at family events. Looks like a good workout for the thighs. Ain’t the end of the world. Hey, she’s half Dutch, half Scottish, so you know she’ll squeeze a loonie till it screams for mercy.

#96 Quintilian on 11.17.22 at 5:55 pm

#73 Honest Realtor on 11.17.22 at 4:15 pm

Tick Tock, Tick Tock

#97 The Original Jake on 11.17.22 at 6:00 pm

#5 jack

The borders are open again. Lots of inventory up for sale. Yet… no more bidding wars. So, where are all the foreigners to suck up all our real estate? I guess the fastest rising rate cycle in a 6 month period off of historic lows has nothing to do with that? C’mon.

#98 @J on 11.17.22 at 6:08 pm

Let’s not forget that all Canadians are immigrants. I’m a 4th-gen immigrant.

My wife, a 1st-gen immigrant, moved to Canada when she was 14. She had to quickly learn a new language and adjust to a new culture and somehow managed to graduate high school and get into uni. Quite remarkable I think.

From time to time we’ve helped new immigrants in one way or another. Immigration is truly one of Canada’s greatest strengths, from an empirical perspective as well as just a values based viewpoint. I know that I celebrate it every day!

#99 Chris on 11.17.22 at 6:10 pm

The world needs more Garths and less Mikes.

#100 Diversified in Mississauga on 11.17.22 at 6:15 pm

I am not a frequent commenter, but for posts such as today I will jump in.
Mike: Shut up and leave this blog, as it seems painful for you.

I have been a daily ready for many years and have learned so, so much.
Garth has never made a dime from me, unless you count the several ice cream cones I bought from him.

With Garth’s FREE advise I have;
– been able to retire a year or two earlier than I thought
– used a trust company (the green one) as our executors. Our siblings are all older than us and live far away. Why put them through this?
– took cpp at 60
– changed our TFSA’s to successor holders
– used spousal RSP’s to our tax advantage
– continued to rebalance globally and stay diversified
– worked hard at educating myself financially
– put a portion of my portfolio in USD which enables me to avoid erratic exchange swings during my winters in the USA
– I could go on and on.
Haters will always hate, but life is too short.
One last comment;
We own our condo outright, so took out a interest only HELOC and put it to work in the market. Yeah, got the idea from Garth.
Garth is a Canadian hero, yes hero.

#101 Don on 11.17.22 at 6:17 pm

We need immigrants. Not to build the country but to be on the bottom of the ponzi. Someone to pass our debt to.

#102 Randy on 11.17.22 at 6:21 pm

We’d all be rich if our governments didn’t steal half of our money….

#103 Faron on 11.17.22 at 6:22 pm

#140 crowdedelevatorfartz on 11.17.22 at 8:13 am
@#131 faron
“Oh, Artemis launched successfully. Embarrassed lemmings silent. Their lil fingers in their ears. Whistling toward the cliff.”

++++++

what ever the govt does.
The private sector can do cheaper and faster

It was built by Boeing.

#104 Regjeg on 11.17.22 at 6:22 pm

Garth, don’t let Mike’s myopic, skewed opinion on what he deems to be your underlying motive (get more clients and fatten your bank account) get your goat. He’s in a very tiny minority around here, I dare say.

#105 Faron on 11.17.22 at 6:28 pm

#141 Sail Away on 11.17.22 at 8:35 am
#131 Faron on 11.16.22 at 11:56 pm
#115 Ponzius Pilatus on 11.16.22 at 9:41 pm
#114 Sail Away on 11.16.22 at 9:15 pm

Opinions, eh

Actually, those were facts. Just because I wrote them and they trigger you doesn’t mean it’s not the truth.

Regarding his greatness/ideas. The apocryphal quote: “You can fool all of the people some of the time and some of the people all of the time;” applies. Elon’s millions are the very def’n of “some of the people”.

#106 Penny Henny on 11.17.22 at 6:36 pm

1 Gone For A Long Long While on 11.17.22 at 2:02 pm
Daily reader for many years here Garth. I find your advice sound, your logic reasonable and your humour intelligent. Big fan! Keep up the good work, but for the love of Dog just ditch the comment section altogether.
/////////////////

You Sir or Madam are a commentaphobe!

#107 Faron on 11.17.22 at 6:37 pm

#32 DON on 11.17.22 at 3:02 pm
#170 Ronaldo on 11.17.22 at 12:50 pm
#150 Penny Henny on 11.17.22 at 10:32 am
#137 Charity on 11.17.22 at 4:06 am

@Charity

I don’t think Faron is a renamed old poster. Different personality from Sean or Mark

This may be one of the all time most pathetic threads in my 3 years commenting here.

#108 Faron on 11.17.22 at 6:41 pm

#138 Bitcoin is on sale! on 11.17.22 at 4:33 am
#72 Faron on 11.16.22 at 5:59 pm
#49 Bitcoin is on sale! on 11.16.22 at 4:48 pm

I will never use a central bank digital currency

LOL. How old are you? If under 70, the chances are very good that you will. Like it or not. And, strictly speaking, a large amount of the circulating money in the world exists only as a digital asset so you already do.

#109 Neo on 11.17.22 at 6:43 pm

IDIOT.

There are no houses for people to live in.

Why don’t you move your family into the streets to free up housing for young Canadians. And immigrants. No?

The Government of Canada is a well funded terrorist group.

I think this blog is losing its way. – Garth

#110 PBrasseur on 11.17.22 at 6:59 pm

In the woke cancel culture criticizing illegal immigration and/or massive immigration is not allowed.

If you persist you are labeled a xenophobic racist and if you work for a University or are somehow exposed to the public chances are your career is over.

Funny because in the real world, far far away from blog hosting apparatchiks, people criticize immigration policies all the time. But not a single party speaks for them and very little media representation. Silencing the people doesn’t usually end well…

Then leave. This blog will not host a debate on immigration levels. Bye. – Garth

#111 OwlEyes on 11.17.22 at 7:02 pm

Earth for Earthlings!

#112 Reality is stark on 11.17.22 at 7:19 pm

Last I checked, money is green.
Bring the hardworking immigrants in to fund CPP and broaden the tax base.
Who cares about their ethnicity?
Our fearless leaders will tax the hell out of them.
Most Canadians don’t take care of themselves and half of them are drugged out of their minds.
Without immigrants this place would become a moral relativist cesspool. Have you seen the idiotic tattoo sleeves our domestic ding dongs believe are attractive? What affect does all that ink have on their health?
Let’s continue to import some sanity.

#113 Dolce Vita on 11.17.22 at 7:20 pm

On this whole Immigration deal I think Canada does a pretty good job.

They vet them from afar and bring people they believe will contribute socially and economically to Canada. And do their best at accommodating asylum seekers.

The European Union, well that’s another thing.

Italy has been getting a bum rap for years now about NGO ships etc.

“France-Italy row” by Deutsche Welle, DW, in a link in 1 of my prior Comments talking about the 234 Migrants Italia refused, sent NGO ship to France and how those that qualify will go to France and Germany.

Self-patting each other on the head.

Which is a CROCK. Rich like Foie Gras rich.

DW of course burys the truth near the end of the article, so much for the fabled German precision:

1. France, which had NEVER before taken in a migrant rescue ship from the Mediterranean, strongly criticized Italy.

2. EU member states have thus far taken in 164 asylum seekers from Italy, out of a total of 88,000 who have reached the Italian shores this year alone.

164

out of

88,000

= 0.186%

And of course DW could not resist slipping in a FAR RIGHT Italia Gov reference (article writer probably voted for Die Grünen last election).

And Italia are the BAD GUYS. EU Immigration, Asylum Seeker EVIL DOERS.

———————

As a Canadian and an Italian you read points 1/2 and you just shake your head.

Canada send your Immigration people a THANK YOU NOTE. They’re doing a fine job when compare to …

You Know Which UNION and I don’t mean the Teamsters.

#114 crowdedelevatorfartz on 11.17.22 at 7:20 pm

@#103 Faron’s Fantasy
“It was built by Boeing.”
+++
Yes.
But NASA govt interference dragged that 50 year old rocket design from a $10 Billion estimate to $18 Billion reality and 4 years overdue.
I’m sure Boeing loved all the NASA changes.
As a friend of mine said after working on a Govt contract for several years, ” When I’m done. I’m naming the dinghy “Original Contract” and the Yacht “Cost Plus”….

Govt should not be involved in anything involving budgets, timely decisions and accountability.
Because they are incapable of all three.

The private contractors involved have usually acquired the contract through political donations and lobbying Thus they just go along for the ride on the cash cow while sucking the taxpayers blood…

Either way.
A wasteful abomination when one watches the incredible success of SpaceX and Starship.
Literally flying circles around all other private and (bwahahahaha) govt competition.

#115 an investor on 11.17.22 at 7:26 pm

Disney had their worst day ever on the stock market. CNN and Facebook are losing money and cutting staff. The Brazil military are auditing the October 30 runoff while the entire country protests. Dutch farmers aren’t giving up. Italy elected the female Trump. Ukraine fired a rocket into Poland trying to trigger WW3. Pelosi is gone. Trump is running as expected. Texas is securing their border while Kari Lake petitions for a recount in AZ. Four regions of the Ukraine held a referendum and are now part of Russia. The French government is controlled by conservatives. Poilievre won the leadership on the first ballot and Trudeau is forced by law to testify at the Trucker Commission next week after he recovers from getting chewed out by Xi at the G20.

But Garth figures the New World Order is inevitable. I wouldn’t bet on it.

There is no New World Order. But globalization is absolutely irreversible. – Garth

#116 Faron on 11.17.22 at 7:26 pm

#94 JWD on 11.17.22 at 5:46 pm

too many stay and home and find a way to cheat or take advantage of the many social programs and govt handouts.

Total myth. Also, where is this socialist country you speak of?

#117 Outrage on 11.17.22 at 7:27 pm

We have hunger game society for affordable housing and living wage jobs. Yes we need more immigrants to make it worse and pay into the cpp and oas. Wait until our currency goes down more. We still have negative interests rates when we have 7% inflation.

#118 ogdoad on 11.17.22 at 7:29 pm

I think this blog is losing its way. – Garth

So what is it’s way, G?

Og

#119 Tony on 11.17.22 at 7:30 pm

DELETED

#120 Ponzius Pilatus on 11.17.22 at 7:37 pm

#29 crowdedelevatorfartz on 11.17.22 at 2:57 pm
“Most of us are financially illiterate.”
+++
I had dinner last Saturday with a couple who are in their late 70’s. (He still works at 79)0. They wanted to ask me about investing an inheritance ( his mother died at 102!)
They have ZERO savings…
The inheritance? Maybe a few hundred K.
I didnt know if RJ would even look at them but I encouraged them to check out their options.
A co-worker in her late 60’s with zero savings is expecting an inheritance ( maybe150k) in a few weeks.
She already has it spent. Kids are getting some. Holiday to Hawaii, a new car….poof, gone.
Broke again in a few months….
Other friends, coworkers and relatives are in the same boat…..
Sad and Frightening.
—————
Sad and frightening is, that FURZ is back telling anecdotes.
We all have our stories to tell.
Confirmation bias alert.

#121 Sail Away on 11.17.22 at 7:38 pm

#105 Faron on 11.17.22 at 6:28 pm
#141 Sail Away on 11.17.22 at 8:35 am

Opinions, eh

——–

Regarding his greatness/ideas. The apocryphal quote: “You can fool all of the people some of the time and some of the people all of the time;” applies. Elon’s millions are the very def’n of “some of the people”.

——–

More opinion. Snidely nasty. Sigh.

#122 Steven Rowlandson on 11.17.22 at 7:41 pm

You can’t be a man and avoid being a judge. It is part of the deal. And yes, the scale of sovereignty is downsizing as democratic, communist and globalist oligarch government loses credibility and is seen as being increasingly part of the problem or even criminal.
It is a process that occurs whenever we have a fall of empires or even the onset of a dark age. Leadership downsizes from large scale government down to something local or even personal. This is the real political reset. Basic government is the father as head of his home and family and eventually scales up from there.

#123 SW on 11.17.22 at 7:41 pm

I travelled and lived for years in my 20’s and 30’s in other countries and was always welcomed with open arms and smiles. In the not too distant future I plan on collecting dividend income to do the same again for another chapter in my life. If I was always treated with respect and warmth in other cultures, why would I not do the same in return? Some of my best friends have been immigrants. What a boring country Canada would be if we were all the same. Sheesh some people.

I don’t own a house and have no plans to (but could afford it). I would rather have my money fund me and the people I love enjoy life. Sipping wine somewhere in the Mediterranean or cutting grass in my retirement? No contest.

#124 jem on 11.17.22 at 7:42 pm

Dear sir, we’ve lived online since 2008; you are practicing fantastic work and that’s not for the faint of heart, I know. I am grateful for your perspective.
The internet will change you, and you have seen a lot. Let’s see what this next turn brings.

#125 jess on 11.17.22 at 7:43 pm

i wonder if anti vaxxers would say?

‘I’m just carrying on’: vaccine gives brain cancer patient years of extra life

The revolutionary DCVax-L vaccine has allowed Nigel French to live a normal life seven years after a brain cancer diagnosis

which French has been taking as part of a trial at King’s College hospital and other centres around the world.
Using patients’ immune cells to target brain cancer, the vaccine works by injecting those cells back into the body, with that information shared so that the entire immune system recognises and attacks the target.

The beauty of this is not lost on French, who adds: “It’s about individuals really, isn’t it? This is about tailoring something for an individual person, using your tumour and your white blood cells, which have got to be a positive thing. I know it’s expensive, but it clearly works and we would have tried everything to find the money for it.”

https://www.theguardian.com/science/2022/nov/17/im-just-carrying-on-vaccine-gives-brain-cancer-patient-years-of-extra-life

#126 Ponzius Pilatus on 11.17.22 at 7:47 pm

#63 Donny G.
I meant to bite my tongue and let this pass so I thank you for bringing it up. I’ve lived and worked around the world and through much of Canada and have never seen anyone as welcoming to immigrants as Alberta. If for some reason GT needed to switch from a country to a province on the 3rd example, “Quebec for Blueboods” might have fit better.
———————-
Interesting to hear where in the World you worked.

#127 Tony on 11.17.22 at 7:48 pm

Re: #98 @J on 11.17.22 at 6:08 pm

My great grandfathers and grandmothers on both sides of my family were Canadian. Born here from 1864 to 1876.

#128 DON on 11.17.22 at 7:48 pm

#107 Faron on 11.17.22 at 6:37 pm
#32 DON on 11.17.22 at 3:02 pm
#170 Ronaldo on 11.17.22 at 12:50 pm
#150 Penny Henny on 11.17.22 at 10:32 am
#137 Charity on 11.17.22 at 4:06 am

@Charity

I don’t think Faron is a renamed old poster. Different personality from Sean or Mark

This may be one of the all time most pathetic threads in my 3 years commenting here.

*******
Yah…no, far from it.

There have been a couple of doosies in last couple of weeks as tempers flare.

#129 Ponzius Pilatus on 11.17.22 at 7:50 pm

#67 KLNR on 11.17.22 at 4:05 pm
@#46 Leftover on 11.17.22 at 3:27 pm
As long as about 25% of newcomers are nurses, skilled tradespeople or doctors, then bring ’em on, welcome to Canada!

no point with the doctors.
not allowed to be doctors here without fully retraining.
————-
Not true.
What about all the grandious uninformed statements today.

#130 DON on 11.17.22 at 7:50 pm

#96 Quintilian on 11.17.22 at 5:55 pm
#73 Honest Realtor on 11.17.22 at 4:15 pm

Tick Tock, Tick Tock

********
Shameless Realtor? New blog handle.

#131 Janice Bergen on 11.17.22 at 7:52 pm

The Trudeau Liberals are attacking Canada at every turn with the sworn intent of instituting the WEF regime of control through globalism by any means. So, after the constant barrage of Trudeau led embarrassments and open hostility by all means let’s pull up an email from one of likely hundreds of daily malcontents to change the subject, brilliant

There is no WEF regime of control through globalism. But I am worried about Dua Lipa. – Garth

#132 Dolce Vita on 11.17.22 at 7:54 pm

#109 Neo

I think this blog is losing its way. – Garth

——————

Google to the Rescue …

People also ask

What do you call a statistical outlier?

An outlier is an observation of data that does not fit the rest of the data. It is sometimes called an extreme value. When you graph an outlier, it will appear not to fit the pattern of the graph.

——–

It’s them Outliers that just grate everyone’s butt.

Chin up My Liege.

+/- 3σ say you are correct.

#133 Shawn on 11.17.22 at 7:59 pm

Play the hand you are dealt in the world you inhabit

The useful advice on this blog is about how to grow wealth in Canada as it exists under the rules as they exist.

Spitting in the wind about immigrants and Trudeau and taxes and the bank of Canada and interest rates may be cathartic but it won’t pay the bills in retirement or now.

Best to get on with it and do what you can despite all the perceived unfairness.

#134 PeterfromCalgary on 11.17.22 at 8:00 pm

If we got more immigrants who have experience building houses and apartments it could actually help bring home prices down. At least in places that still have available land for building.

#135 IHCTD9 on 11.17.22 at 8:00 pm

#90 Wrk.dover on 11.17.22 at 5:28 pm

Because tandem sump pumps, one being the automatic backup, would cost one day’s wages!

I’ve said it before. And was fended off….
– ——-

So what are the chances said tandem pump would fire up and save the day after sitting idle in a dank moist cellar for 20-30 years before being called upon? My flood was a once in 22 (and counting) year event. I fixed the junk furnace for 50.00 and 30 minutes work. The concrete floor down there is almost a foot thick (don’t ask, I don’t know).

It’s a cellar. Unusable, can’t even store stuff down there. The original cistern walls go right to the floor joists, and there are water lines at 3’ off the floor. My cellar likely flooded that deep every spring for the first 80 years of its life until a sump pump became a thing you could actually buy.

#136 Tony on 11.17.22 at 8:01 pm

My father and my grandfather were both businessmen who ran unions to keep wages as high as possible if you get the gist. My mother always accused my father of being racist.

#137 Ponzius Pilatus on 11.17.22 at 8:03 pm

#93 Joe on 11.17.22 at 5:45 pm
If you love the following you should Rent an apartment:

1) listing to your neighbour play loud music
2) listing to the person that lives below you playing with his video games with surround sound all hours
3) listing to your neighbour cook hearing cupboard doors slammed and pots and pans
4) lising to your neighbours let their doors slam when they come and go
5) listing to your neighbour pee at all hours of the day
6) your on the top floor because you dont want to hear your neighbours above you but instead you have the mechanical systems that are on the roof vibrate into your unit
7) deal with covid on the elevator
8) listing to parties late at night
9) dealing with building manager who could care less
10) vehicle breakins in the underground garage
11) pot/cigarette smoke coming into your unit via the electrical outlets
12) etc etc etc

over my years renting ive seen it all, heard it all, smelt it all…for my own sanity i had to buy, enough is enough
—————–
FURZ is a renter.
Maybe he can add to you list.
Just joking.
Rented and owned a highrise condo myself.
The only difference was that as an owner you can vote.
Elevators are weird in a way:
They don’t disdinguish between renters and owners.

#138 Blessed_Canadian_Millennial on 11.17.22 at 8:06 pm

#93 Faron on 11.16.22 at 7:41 pm
#80 Søren Angst on 11.16.22 at 6:31 pm
#69 Faron

And to me, he is still unforgiven for trying to break the Twitter deal

Among the TSLAQ, this is called “the realization”. The moment when the illusion of his intelligence and the illusion of the strength of his businesses is lifted or more often shattered.

For me it happened in 2018 when, in short order, he accused the rescuer of the kids stranded in the cave in Thailand a “pedo” (a term that Old Boot uses BTW) then, soon after, tweeted that he was taking TSLA private at a share price of $420. He settled a SEC fraud case in the latter event.

Read this from a well-respected journalist who has followed Elon for some time. https://twitter.com/lopezlinette/status/1590111416014409728?cxt=HHwWgMCojY_6mpEsAAAA

———————-

Hahaha… Faron, this will not age well.

I get that you and many others dislike Elon for various reasons.

But thinking that Tesla is not well run is simply not true. Just look at their financials. Look at their demand. Look at their insane profit margins! I guess you’ll find out when TSLA 10x within 10 years. (Yes, I own TSLA and drive a Model S.)

TSLAQ’s are funny and delusional. Don’t fall into that trap.

#139 Faron on 11.17.22 at 8:10 pm

#121 Sail Away on 11.17.22 at 7:38 pm

Aww, don’t be sad. Choose better role models. Ever notice that I don’t bag on papa Buffett? That’s because he’s a straight dealing gentleman. Musk? No and that’s a fact, not an opinion. Trump? No. Also fact.

As for the fooling.

Remember, when some of us talk about Elon and Tesla, you can choose to not be triggered and just stay out of it. Self control etc.

#140 Ponzius Pilatus on 11.17.22 at 8:12 pm

#114 crowdedelevatorfartz on 11.17.22 at 7:20 pm
—————–
Stop digging.

#141 baloney Sandwitch on 11.17.22 at 8:17 pm

lol, great post. It sure got the nutters among us to uncover their nuts. (Must be a defensive reflex)

#142 Pam on 11.17.22 at 8:18 pm

Thank goodness for immigrants! I’m the granddaughter of 4; was married to 1. Welcome to Canada!!

And thank you for all your amazing advice, Garth. I have benefitted tremendously from it over the years – it’s one of the main reasons why I rent after being a homeowner for 25 years.

#143 Immigration on 11.17.22 at 8:19 pm

DELETED (Anti-Muslim)

#144 Dolce Vita on 11.17.22 at 8:24 pm

PS on Immigration & Why I think Canada is doing a fine job.

Map distribution of Immigration

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/mc-a001-eng.htm

Immigrants are young, solve the ageing problem and at that age will spend which is good for GDP

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/g-a002-eng.htm

It’s not like Immigrants are taking over Canada, now and never

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/g-a001-eng.htm

1/3 of Immigrants are already here, university etc., so why not admit them as Canada has devoted resources to train them? Why send them home after spending money on them? Economically that makes no sense to me.

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/g-a003-eng.htm

You can argue they are clustered in Urban Centres, you know, where the jobs are but Canada has a lot of urban centres and I argue they are well distributed across the country.

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/g-a006-eng.htm

The entire report about Immigrants from StatCan

https://www150.statcan.gc.ca/n1/daily-quotidien/221026/dq221026a-eng.htm

—————–

Canada, send these people a THANK YOU NOTE, they’re doing a fine job if you were to ask me.

https://www.canada.ca/en/services/immigration-citizenship.html

#145 Cow Man on 11.17.22 at 8:24 pm

I am embarrassed for anyone who thinks Garth writes this blog to primarily increase assets under management. That would be a beneficial side effect. If Garth was interested in personal wealth he would not have run for public office. I suspect it would also be embarrassing to know Garth’s net worth. I doubt he has to work at all.

#146 crowdedelevatorfartz on 11.17.22 at 8:27 pm

@#116 Faron
“Total myth. Also, where is this socialist country you speak of?”
+++
Have YOU tried hiring someone lately?
Socialism run amok renamed CERB.
The iberals can’t stay in power unless they kowtow to their NDP masters.

I see Britain just raised personal income tax and cut spending…
Seems the money markets forced their hand.
One wonders when our illustrious “leader” will be forced to follow suit?
Its only a matter of time before our endless Billion Dollar Baby govt handouts come back to bite…
Higher taxes for all and govt cuts.
Count on it.

#147 jess on 11.17.22 at 8:30 pm

Singapore writes down $275 million in FTX, calls belief in Sam Bankman-Fried ‘misplaced’ Temasek said it had poured in $210 million for a minority stake of about 1% in FTX International, and $65 million for a minority stake of about 1.5% in FTX US, across two funding rounds from October 2021 to January 2022.This “write down of our investment in FTX will not have significant impact on our overall performance,” Temasek said in the statement. The investment company also gave details of its due diligence processes on FTX, which took approximately eight months.FTX is now under criminal investigation in The Bahamas, where it had moved its headquarters last year from Hong Kong.

https://www.temasek.com.sg/en/news-and-resources/news-room/statements/2022/statement-FTX

#148 Unpinned on 11.17.22 at 8:31 pm

Why I love immigrants: my dad arrived from the Ukraine back in 1928 and the authorities put them on the train to Moose Jaw, Saskatchewan. My other most favorite immigrants are my grand-sons from Mexico and having spent their school years in Canada are more or less successful young adults who speak French; English and Spanish and prefer Canada over Mexico.

#149 Dr V on 11.17.22 at 8:55 pm

I see my comment finally went through. No idea why the
submit button wasnt responding. I did remove the first paragraph which was a cut and paste from an earlier comment.

60 minutes says to disengage from “discussing” controversial topics online.

This appears to include

– immigration
– abortion
– All things Musk
– Trump
– Danielle Smith
– trail crampons

The list will continue to develop.

Here’s to submitting……

#150 Summertime on 11.17.22 at 8:56 pm

From a slightly different angle, as the truth is always in the middle and the world is gray, not black and white:

1. Aggressive immigration given current zoning housing regulations, lack of infrastructure creates housing and rental pressure. That is undeniable.

2. There are little investments in infrastructure and increase in density as to build modern European style cities.
Look at China’s strategy – it is all about infrastructure.

Explain that to the simpleton with the duck socks and the financial minister.

3. There is increasing pressure enforced by policies to sustain high house prices in order to maintain the illusion of strong economy and the bank profits.

Low rates, housing ‘insurance’, no taxes on primary residence appreciation, various ‘savings’ plans targeting house purchases…

It is all geared toward higher and higher house prices, no matter what the politicians say/openly lie about.

Look what they do, not what they say.

The important stakeholders in this game is not the regular Joe and Jane, it is the cozy oligopolies who own this place.

4. Somehow the balance is maintained by the ever increasing outflow/return of immigrants to their home countries or by the exodus of Canadians who can’t handle the ever increasing cost of living given the capped wages and high taxes.

This trend will only continue.

The mandate of the rulers – politician puppets is to provide ever increasing flow of cheap labour to the big oligopolies is in danger due to ever increasing labour outflows and the high cost of living and taxes.

So they have to aggressively increase immigration.

5. Taxes are high – European style taxes with little to none services to match that.

6. To some extent the blog is focusing on the investment theme indeed, which is good in my mind.

What is the drawback? It is that to some extent it supports the illusion or at least gives the general message that somehow things are ok, central bank policies of easy money are good and if you just invest and be diligent somehow you will make it and even thrive.

Missing on going in depth on the big macro trends – decline of labour, peak debt, resource constraints, inflation.

To see these clearly one must look from outside and at the global picture while having sufficient in-depth knowledge of the insides.

And it is not always popular to tell the truth. Ignorance, denial and false sense of superiority is the number one problem I see here.

So each side has a point. Just looking from different angles on the big smelly mess that we currently enjoy
and that will become smellier as the thingy hits the fan.

There was an article in Financial Times on how easy monetary policies for too long are the main reason for the inflation that we enjoy, that we can not have 4 % interest rates when real inflation is in double digits and CPI 3-4 % higher that the rates and that the biggest danger is for central banks to give up on their inflation fight.

This is already starting to come from mainstream media.

Here/on this blog/ I am reading views that central bankers are doing good job, that inflation is apparently almost under control, that rates will soon peak.

Taking it too easy on those responsible for the mess that we are in and assuring people that things will be just fine and only those who bought houses close to the top will be in danger.

Putting on the rosy glasses gives false perception of reality. To fix a problem it has to be recognized first, in it’s true severity and nature and those responsible for it should be punished and removed from the authority that they screw up with, being either central bankers or politicians.

It is true that this is particularly difficult in a fluent, politically correct, ‘don’t rock the boat’ society,

But when the boat is sinking, you better run for the life boats/exit.

Just my 5 cents.

#151 Summertime on 11.17.22 at 9:18 pm

Refusal to follow the voice of reason at times when things can be brought relatively easy under control with utmost certainty will result in the discomfort of having to listen to the ever increasing volume of extremists voices at times when it is already too late to fix anything.

So get used to it, suck it up and move on as we love to preach.

Having lost some time to give early warnings to no avail I have very little empathy to those impacted by the situation at hand.

#152 Jerry on 11.17.22 at 9:19 pm

DELETED. We are not debating immigration levels on this site. – Garth

#153 Ponzius Pilatus on 11.17.22 at 9:41 pm

Elon Musk reminds me of another Richest Man on Earth.
And the only thing most people remember him for is the Spruce Goose.
And becoming a recluse.
Just a sad story all around.

#154 Faron on 11.17.22 at 9:52 pm

#146 crowdedelevatorfartz on 11.17.22 at 8:27 pm
@#116 Faron

“Total myth. Also, where is this socialist country you speak of?”

+++

Have YOU tried hiring someone lately?
Socialism run amok renamed CERB

CERB ended 6 months ago. The global (developed world) labour shortage is much bigger than CERB.

#155 fishman on 11.17.22 at 10:03 pm

We could always follow our Nato allies over in Poland,Latvia, Lithuania, Estonia & newbie Finland. Build a couple thousand ( we”ll need three thousand miles ) of 20ft. steel walls topped with 3ft. of rolled barb wire through populated areas. Accompanied by 9ft. high & 6ft. wide rolled barbed wire through the less populated forests. Backed by a 20ft. freshly plowed & trackless dirt road. Just like they have around our federal prisons. All against “weaponized migration”. The next calamity about to descend on western liberal progressives. “Weaponized migration.”

#156 Gene Sullivan on 11.17.22 at 10:07 pm

Your blog, your rules. I could care less what Mike things.

Your blog is awesome as are you. I only write comments when you get attacked. Thanks for the humour.

#157 crowdedelevatorfartz on 11.17.22 at 10:11 pm

@#154 Faron
“CERB ended 6 months ago. The global (developed world) labour shortage is much bigger than CERB.”

+++
CERB was too much too soon.
It encourage young kids to stay home and couch surf.
For a year.

Now?
No one wants to work.
Getting up every day and showing up on time seems to be too depressing.
Better to stay in the warm , dark confines of Mommy’s basement and play Call of Duty.
A crushing recession may motivate them…..but from what I’ve seen lately?
I doubt it.

#158 crowdedelevatorfartz on 11.17.22 at 10:15 pm

@#153 Ponzies Perspective
“Just a sad story all around.”

+++
The richest man in the work is a workaholic….. who knew.

#159 Drill Baby Drill on 11.17.22 at 10:20 pm

‘Alberta for Albertans.’ Really Garth this is a really disingenuous statement. Most Albertans are actually from elsewhere in Canada. Shame on this blog.

#160 Observer on 11.17.22 at 10:21 pm

#154 Faron on 11.17.22 at 9:52 pm

CERB ended 6 months ago. The global (developed world) labour shortage is much bigger than CERB.

^^^^^^^^^^
Not correct. CRB, which replaced CERB ended over a year ago in Oct 2021.

#161 Re-Cowtown on 11.17.22 at 10:25 pm

Just watched CTV news. Saw the token Environmental Activist talking head proudly clucking on about the Climate Summit in Egypt and man-splaining that “No one wants fossil fuels anymore.”

He was kind of right. No one at the Climate Summit wants oil anymore, except for their jets and yachts.

Meanwhile, back in the real world, people are screaming because diesel costs $3/liter, there are fuel shortages on the Eastern seaboard, Pakistan turns on the nat gas for two hours a day, California is prepping for rolling blackouts and Europe is one cold snap away from rationing.

Oh, and at home here in Calgary, working poor people can’t afford gas to go to work, so I’m doing what little I can to help out by paying for some gas for them to keep them going.

Only working people, productive people and the people that keep the world moving still want fossil fuels, and desperately.

If you have a jet or a yacht, you don’t want fossil fuels. See the pattern here?

#162 Lisa on 11.17.22 at 10:38 pm

Most of us have nothing against immigration, but do have an issue with welcoming more people when we can’t house what we have. We may have the structures available but if the average person can’t afford them, then they don’t count either. Here is a CBC article on the cost of rent in Canada and the last paragraph speaks to this topic -“We take for granted the fact that the immigrants will arrive, but if they cannot afford to live in Toronto, Vancouver and many other cities because rent is rising and the price of homes rising, they will not come,” he said.

#163 Lisa on 11.17.22 at 10:47 pm

Here is the article I quoted above. I forgot to add it to my comment.

https://www.cbc.ca/news/business/rent-inflation-november-1.6650777

#164 Barry on 11.17.22 at 10:51 pm

Thank you for all your free advice Garth. May not agree at times but I’ve never learned anything from anyone who agreed with me. I don’t invest like most – I’m a DIY guy and have been for years. I love it! … but that’s just me. I keep learning from my “mistakes”. In aggregate a dividend growth portfolio has paid off very very well and at 70 I look forward to many more years of income growth without government reliance since my OAS is 75% clawed back and rightfully so. What I don’t understand are the nitwits who jump on you as if you have a hidden agenda. I would say you’ve had a successful life and there is the rub. Some people just hate the success attributed to hard work and/or the tough decisions one has to make when they are in charge – as you were in government.

#165 Times change on 11.17.22 at 10:52 pm

I used to be pro-immigration as an immigrant myself, but if immigration starts to impact my quality of life I will vote to shut it down. Times change.

#166 DDR Reketentruppen on 11.17.22 at 10:55 pm

I don’t care where people come from as long as they work or start a business.

#167 Bob on 11.17.22 at 11:04 pm

Garth,
I appreciate this blog and you filtering out the inappropriate comments. Please don’t let the vocal negative few dissuade you publishing this amazing blog.

I don’t always agree with you, but that’s okay. We are the silent majority… because we are busy doing meaningful things in our lives. Don’t let the complainers ruin a good thing.

#168 kommykim on 11.17.22 at 11:08 pm

RE:#125 jess on 11.17.22 at 7:43 pm
i wonder if anti vaxxers would say?

‘I’m just carrying on’: vaccine gives brain cancer patient years of extra life

The revolutionary DCVax-L vaccine has allowed Nigel French to live a normal life seven years after a brain cancer diagnosis

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

I know exactly what the “anti vaxxers would say”… They’d misquote the headline and repeat it as:
“Vaccine gives brain cancer”

#169 Doug t on 11.17.22 at 11:11 pm

History is ripe with the “blame game” – way before Nazi Germany and in the last several decades alone we have seen it raise its ugly head worldwide – usually builds up to WAR

#170 Don Guillermo on 11.17.22 at 11:46 pm

#126 Ponzius Pilatus on 11.17.22 at 7:47 pm
#63 Donny G.
I meant to bite my tongue and let this pass so I thank you for bringing it up. I’ve lived and worked around the world and through much of Canada and have never seen anyone as welcoming to immigrants as Alberta. If for some reason GT needed to switch from a country to a province on the 3rd example, “Quebec for Blueboods” might have fit better.
———————-
Interesting to hear where in the World you worked.
******
Are you really interested or you just trying to mock again? I’ve lived and worked in many countries. Paid rent, stood in line in grocery stores, paid my utilities and drank beers with local patrons. If you’re really interested in details ask Garth for my email contact. I’d be glad share my experiences.

#171 Faron on 11.17.22 at 11:56 pm

#157 crowdedelevatorfartz on 11.17.22 at 10:11 pm
@#154 Faron
“CERB ended 6 months ago. The global (developed world) labour shortage is much bigger than CERB.”

+++
CERB was too much too soon.
It encourage young kids to stay home and couch surf.
For a year.

Now?
No one wants to work.

Specious.

Show me a study that makes the link and I’ll believe you.

Also, almost everyone wants to work. For how much is the question.

——–

#160 Observer on 11.17.22 at 10:21 pm
#154 Faron on 11.17.22 at 9:52 pm

Not correct. CRB, which replaced CERB ended over a year ago in Oct 2021.

Thx, stand corrected not just because it emphasizes my point.

#172 Faron on 11.17.22 at 11:58 pm

#158 crowdedelevatorfartz on 11.17.22 at 10:15 pm
@#153 Ponzies Perspective
“Just a sad story all around.”

+++
The richest man in the work is a workaholic….. who knew

Wait, so you also believe the lie that he’s working 16hr days at TwitterHQ?

#173 Linda on 11.18.22 at 12:09 am

#19 – funny you should mention Japan. Yes, they do limit immigration. As a result, it is expected Japan’s population will drop from roughly 126 million today to around 105 million by the year 2050, with a further decline in numbers to about 75 million by the year 2100. The reason is their birth rate isn’t high enough to replace the current population. Canada’s population would also be in decline for the same reason were it not for immigration.

#174 Charity on 11.18.22 at 12:14 am

#15 Dolce
Welcome back, old is new, retro is hip etc…. Your welcome. And if you laughed that was the very first comment Garth ever gave me on the blog (he does answer emails and is far less gruff that way unless of course your name is Mike apparently). Nice update btw.
Alberta is getting a little too cold as I get older. I’m in need of scenery change. But honestly tonight’s almighty dog reply to the real kip(ret) is smh funny af.

Garth you are relentless love it. F$&k’em if they can’t take a joke.

#175 Charity on 11.18.22 at 12:27 am

#107 Faron on 11.17.22 at 6:37 pm
#32 DON on 11.17.22 at 3:02 pm
#170 Ronaldo on 11.17.22 at 12:50 pm
#150 Penny Henny on 11.17.22 at 10:32 am
#137 Charity on 11.17.22 at 4:06 am

@Charity

I don’t think Faron is a renamed old poster. Different personality from Sean or Mark

This may be one of the all time most pathetic threads in my 3 years commenting here.

———-
Really? well I will defer to your expertise in the field of pathetic commenting because you definitely wear that crown. :)

#176 MalcolmM on 11.18.22 at 1:29 am

DELETED

#177 Mad Money on 11.18.22 at 2:00 am

What housing crisis?

Oh, you know, the one where getting an affordable home or rental is impossible and homelessness is through the roof.

That housing crisis.

BC is turning into one big tent city. This isn’t how things should be in a supposed rich country.

A guy living in his old van in -20 weather overnight last year so he could be close to some work as a trades worker. Could not afford local accommodation.

People digging through my garbage everyday (3-4). I sometimes offer them a free meal if I have some extra soup.

#178 Bitcoins is on sale! on 11.18.22 at 2:35 am

#108 Faron on 11.17.22 at 6:41 pm

#138 Bitcoin is on sale! on 11.17.22 at 4:33 am
#72 Faron on 11.16.22 at 5:59 pm
#49 Bitcoin is on sale! on 11.16.22 at 4:48 pm

I will never use a central bank digital currency

LOL. How old are you? If under 70, the chances are very good that you will. Like it or not. And, strictly speaking, a large amount of the circulating money in the world exists only as a digital asset so you already do.

—————-

Says who? You make it seem like the central bank can implement it without national debate. It would have to be done legislatively and PP has already stated that he opposes CBDCs and he’s ahead in the polls… But if CBDCs somehow get implemented – and mandated, I would not comply. The free market would provide work-arounds, and barring that, I would simply leave Canada for one of the remaining free countries. So no, I won’t ever use a central bank digital currency. LOL

#179 Wrk.dover on 11.18.22 at 3:02 am

#163 Lisa on 11.17.22 at 10:47 pm
Here is the article I quoted above. I forgot to add it to my comment.
https://www.cbc.ca/news/business/rent-inflation-november-1.6650777
__________________________________________

According to mainstream REIT ETF valuation/payouts, one would assume rents have deflated 20% YTD.

Maybe Bank Fried Man administrates their books, opposite to his crypto venture modelling.

#180 Never Gets It on 11.18.22 at 3:46 am

#83 Yorkville Renter on 11.17.22 at 4:56 pm

I simply don’t understand why someone MUST complain online and argue and DEMAND TO BE HEARD.

If you didn’t know, posts here doesn’t extend beyond this site – no laws, regulations or minds will be changed by virtue of people posting on this site.

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

Could someone please explain this to Faron?

His constant posting seems unnecessarily punitive, like checking in with the meanest girl from high school every 10 minutes to confirm he’s still a loser.

Amusing, but pointless.

#181 Hate to Tell Ya... on 11.18.22 at 3:54 am

————–#93 Joe on 11.17.22 at 5:45 pm
If you love the following you should Rent an apartment:

1) listing to your neighbour play loud music
2) listing to the person that lives below you playing with his video games with surround sound all hours
3) listing to your neighbour cook hearing cupboard doors slammed and pots and pans
4) lising to your neighbours let their doors slam when they come and go
5) listing to your neighbour pee at all hours of the day
6) your on the top floor because you dont want to hear your neighbours above you but instead you have the mechanical systems that are on the roof vibrate into your unit
7) deal with covid on the elevator
8) listing to parties late at night
9) dealing with building manager who could care less
10) vehicle breakins in the underground garage
11) pot/cigarette smoke coming into your unit via the electrical outlets
12) etc etc etc

over my years renting ive seen it all, heard it all, smelt it all…for my own sanity i had to buy, enough is enough

—————————————-

…but all these things can and do happen to condo owners. And if you’re saying that SFD never have noise or bad neighbour issues then just plain LOL. It’s a lot more work and $$ to sell and move than it is to give notice and move.

Worst, dumbest rationalization of buying possible. Hilarious the mental tricks people play on themselves to justify their decisions.

#182 Bubbles on 11.18.22 at 5:13 am

Immigration is excellent if managed properly and enough social servicing can be budgeted for. Thats definitely debatable as you only need to look at our health care system.

Volatility has increase in:
Social behavior
The stockmarket
The RE market
The environment
And on this blog.
It just a cycle as far as I can see.
Netflix: Ancient Apocalypse
We have come and gone. Climate change has been here forever. Hmmmm 8 billion peeps now.
That crazy to me.

#183 Bubbles on 11.18.22 at 5:16 am

Re the Meta crash:
I was hoping it would die. Social media has been a disasters for humanity.

#184 Steven Rowlandson on 11.18.22 at 6:55 am

My dad’s side of the family came to Ontario as settlers in 1883 and my mom’s side of the family came as conquerors in the 1750s as part of King George’s Army to conquer French Canada and Acadia. We don’t view ourselves as immigrants. Our peoples inside and outside our family invented and built Canada. We are the creators.

#185 Grateful in Victoria on 11.18.22 at 6:56 am

One more good person stands up to racism!!
Thank you for using your platform to do it Garth.
And as always thank you for your financial advice.

#186 Old (Retired) Ron on 11.18.22 at 7:00 am

I always enjoy the Blog. My daily “must reads” include the Globe and Mail and the Greater Fool which is full of wit, timely information, and the occasional wing-nut in the Comment section.

As for the Buy vs Rent debate. Owning your principal residence (house) is better in the long run. Not financially, but for the superior quality of life. Condo’s not much difference between renting and owning.

#187 Janice Bergen on 11.18.22 at 7:28 am

DELETED (Conspiracy)

#188 thebarold on 11.18.22 at 7:57 am

I come for the dog pictures and the sage advice and observations on the market. So thank you for that. The comment section kept me away for a while but now I realize that it’s better to shine a light than to ignore them. Freedom of speech is for actual people – not anonymous handles (including mine!)

#189 crowdedelevatorfartz on 11.18.22 at 8:18 am

@#171 Faron
“Also, almost everyone wants to work. For how much is the question.”
+++
I ask again.
Have YOU tried hiring anyone lately?
My experience over the past 2 years has been a collection of man/children that are incapable to arriving on time or arriving at all.
Last 25 year old man/child was paid $30/hr as an unskilled labourer….he lasted 2 days.
Never showed up on the third.
Because the work we do is…OMG…hard.
It’s not just us.
ALL the trades are begging for workers.
Its never been so good to be an unemployed kid and yet here we are….. one million jobs going begging and only begging we have are young, healthy man /children sitting at street corners with cardboard signs asking for money… Or waiting for Trudeau to create another multi billion dollar cash handout.
People used to be arrested and jailed for 30 days for vagrancy.
Now?
We don’t hold them in jail for assault, robbery or murder.
Pathetic.

#190 crowdedelevatorfartz on 11.18.22 at 8:26 am

@#172 Faron
“Wait, so you also believe the lie that he’s working 16hr days at TwitterHQ?”
+++
Perhaps he IS at TwitterHQ for 16 hours per day… but I’m quite sure he is involved in the day to day operations of his other companies.
Its called multitasking and he probably uses a …cellphone or computer to communicate to his other multi billion dollar companies.
You know …Tesla,,,SpaceX…

Nothing like sticking around the Twitter office for a few weeks to crack the whip over the heads of all those overpaid lazy code monkeys surfing the net…….

And judging from the amount of ex wives and children he’s paying for….perhaps he’s found a new soul mate.
Being the richest man in the world does have it perks …no matter how ugly he is.
Its called Revenge of the Nerds

#191 crowdedelevatorfartz on 11.18.22 at 8:34 am

@#182 Bubbles
“Re the Meta crash:
I was hoping it would die. Social media has been a disasters for humanity.”
++++
Meta….one billion introverted, obese, diabetic, basement dwellers….. eagerly await its arrival.

Or Zuckerberg rolled the dice on a massively expensive……. fail.

Hopefully he hasn’t Zucked all the shareholders that believed his drivel.

#192 Dan Rhodes on 11.18.22 at 9:08 am

Mastercard, Wells Fargo, Citigroup, and others, launch a 12-week experimental digital dollar pilot with the New York Fed

#193 MILLY on 11.18.22 at 9:18 am

Hi Garth,

You are correct, but I think hard times like now makes people think of scarcity, and scarcity makes people fearful others will take what little they have. It’s no excuse, and these people are certainly looking at the wrong people for blame, but when more people are using food banks, have no housing security, our healthcare is collapsing it does make people wonder if immigrants will be able to flourish here. Personally, I worry we sell them this great Canadian dream to milk them of their taxes and CPP, while giving them very little in return. Bring immigrants, we need them, but Canada needs to do better in ensuring a basic QOL here too, for everyone.

Canada is a paradise compared to most of the world. Seventy per cent of us own real estate, there is 95% employment, four-in-ten families pay no net income tax and the health care system is not collapsing. You call these ‘hard times’? What a wuss. – Garth

#194 Observer on 11.18.22 at 9:45 am

#168 kommykim on 11.17.22 at 11:08 pm
RE:#125 jess on 11.17.22 at 7:43 pm
i wonder if anti vaxxers would say?

‘I’m just carrying on’: vaccine gives brain cancer patient years of extra life

The revolutionary DCVax-L vaccine has allowed Nigel French to live a normal life seven years after a brain cancer diagnosis

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

I know exactly what the “anti vaxxers would say”… They’d misquote the headline and repeat it as:
“Vaccine gives brain cancer”

^^^^^^^^^^^^^^^
For sure. They were the kids in grade school who struggled with language comprehension.

#195 Buondialla on 11.18.22 at 9:46 am

Garth,

Will you be tuning into World Cup ….Canada making a rare appearance on the big stage ……although I suspect you are more of a rockem sockem hockey or curling fan.

Baseline jumping. – Garth

#196 millmech on 11.18.22 at 9:49 am

Looks like rate hikes to continue through next year, smaller but continuous, slowly boiling the frog in the pot.
Those renewing in 23/24 and hoping for a pivot will be let down, but at least you’re not throwing money away on rent and building equity with every payment.
https://ca.finance.yahoo.com/news/stock-market-news-live-updates-november-18-2022-115340261.html

There is zero reason to believe interest rates will decrease in 2023. But they will pause. – Garth

#197 Observer on 11.18.22 at 9:51 am

#181 Hate to Tell Ya… on 11.18.22 at 3:54 am
————–#93 Joe on 11.17.22 at 5:45 pm
If you love the following you should Rent an apartment:

1) listing to your neighbour play loud music
2) listing to the person that lives below you playing with his video games with surround sound all hours
3) listing to your neighbour cook hearing cupboard doors slammed and pots and pans
4) lising to your neighbours let their doors slam when they come and go
5) listing to your neighbour pee at all hours of the day
6) your on the top floor because you dont want to hear your neighbours above you but instead you have the mechanical systems that are on the roof vibrate into your unit
7) deal with covid on the elevator
8) listing to parties late at night
9) dealing with building manager who could care less
10) vehicle breakins in the underground garage
11) pot/cigarette smoke coming into your unit via the electrical outlets
12) etc etc etc

over my years renting ive seen it all, heard it all, smelt it all…for my own sanity i had to buy, enough is enough

—————————————-

…but all these things can and do happen to condo owners. And if you’re saying that SFD never have noise or bad neighbour issues then just plain LOL. It’s a lot more work and $$ to sell and move than it is to give notice and move.

Worst, dumbest rationalization of buying possible. Hilarious the mental tricks people play on themselves to justify their decisions.

^^^^^^^^^^^^^^^

Indeed. Also, one can rent a house or townhome rather than an apartment, just as one can buy a box in the sky.

#198 James on 11.18.22 at 9:52 am

Wow. Less than 20 posts by crowdedescalatorfecalmatter in the last 24 hours!

Has he been admitted to psychiatric care somewhere for egomania? Maybe stuck in a snowstorm?

#199 Observer on 11.18.22 at 9:59 am

Elon Musk’s Twitter takeover was captured by software engineer’s cartoons. One example:

Any Twitter employee who speaks out against our tolerant policy of absolute free speech shall be immediately fired.

#200 IHCTD9 on 11.18.22 at 10:02 am

#38 – Fartz

Yep, a delayed fire off results in a rich black *poof!* exiting the little spring loaded door. IE, the furnace is “rolling coal” in your basement.

#201 J on 11.18.22 at 10:04 am

DELETED (Anti-immigrants)

#202 IHCTD9 on 11.18.22 at 10:10 am

Might get 6″ of snow this weekend. Buffalo could be getting over 4 feet! It’s all white here in the sticks right now. Be happy BC’ers.

#203 Crowdedelevatorfartz on 11.18.22 at 10:38 am

@#198 jimbo
Sorry jimmy.
Been busy.
Texting from a ferry this am.
( Isnt tech a wonderful thing)
I’ll try and up my game.
Just for you.

#204 Yorkville Renter on 11.18.22 at 10:42 am

#180 – I have explained this a few times on here… but, unlike those who demand to be heard, I don’t care if people read it or ignore it.

#205 Sail Away on 11.18.22 at 10:47 am

A thought on the Twitter restructuring, but first, a short relevant commentary:

My engineering firm loves working on mine sites. They have permits in place and can try almost anything that they choose, but want no downtime, so we design fast and conservative (stronger than needed), and they immediately build. Cost is no object compared to idle standby time. It’s pure design, construct, activate. Like railroads: when the Lytton highway and rail trestle washed out, the road took 16 months to repair and the rail took… 8 days. Yes, 8 days.

That’s Twitter right now. Elon has a motivated crew of engineers ready to work and expecting to work. The recalcitrants have been reclassified to ‘unemployed’. Twitter traffic just hit another record level as everyone logs on to see it fail. Strangely, it’s not. Failing, that is.

Elon sets the example. Sleeping in HQ and working his customary 16-20 hour days. Master motivator and producer. No worker at any of Elon’s ventures has ever claimed to work harder than the man. Successing!

#206 Bubbles on 11.18.22 at 11:01 am

#178 Bitcoins is on sale! on 11.18.22 at 2:35 am

Also spicoin is expensive and uses megawatts of energy.
For that reason alone I’m against it. Energy security is already an issue.
We have spitcoin now…backed by paper and the power to tax. It’s irrelevant. People rarely use cash even for a doughnut nevermind a home purchase.
Goves printed money when the poop hit the fan…
What’s the alternative? A depression…..They just did a crap job managing it…unfortunately it’s on the peeps too. So ill prepared for any speed bumps…indebted and living hand to mouth. Just living too high off the hog. IMHO
We will survive and all the nutters can keep the electros.
I still Carry cash for small iteams…but arguably we are already there.

#207 IHCTD9 on 11.18.22 at 11:07 am

Zooming in on immigration, you see the finite details and concerns of the day. Zooming out, you see the beginnings of the final stage of human integration – the formation of a single global society. The last of our borders, languages, and cultures finally starting to weaken. On the ground, it looks like we just need to fix our aging population, but zoom out again and you’ll see every rich nation on earth is in the same boat to varying degree for one reason or another.

That’s why I feel there is an “invisible hand” guiding our trajectory into the future. We have a world wide consensus for the movement of people all coalescing over a short period of time. The West is old and needs workers, the Third World is young has them in spades, and they’re willing to work hard (much harder than us) for a better standard of living. Our Climate situation has legs, theirs is first in line for trouble. The Global West has a lot of room still, the Global Third World does not. We have lots of fresh water – they don’t. We’re rich, they’re poor. They have the people, we have the resources – one is no good without the other. The future is cast in stone.

IMHO – these are the reasons why we will eventually become a Global society, and (hopefully) transition into a Type 1 Civilization. There will be much Religious, Nationalistic, and Cultural strife along the way. It could get ugly, but if we can keep the lid on, the future looks bright.

#208 Bubbles on 11.18.22 at 11:11 am

People never learn.

Canadians have lost $131 billion investing in cannabis
https://nationalpost.com/cannabis-news/canadians-have-lost-131-billion-investing-in-cannabis/wcm/f1f56d32-5fe2-410c-a8e2-46b16799f2c1

#209 Bubbles on 11.18.22 at 11:14 am

Indeed…he’s helped nothing.

Philip Cross: Trudeau runs Ottawa like a Silicon Valley startup
https://financialpost.com/opinion/philip-cross-trudeau-runs-ottawa-like-silicon-valley-startup

#210 Bubbles on 11.18.22 at 11:22 am

Immigration:
My sides from Europe.
Wife’s from Aisa..NO SHE WAS NOT MAIL ORDER! lol

#211 Brian on 11.18.22 at 11:28 am

The Earth’s climate has undergone some big changes, from global volcanism to planet-cooling ice ages and dramatic shifts in solar radiation. And yet life, for the last 3.7 billion years, has kept on beating.

Now, a study by MIT researchers in Science Advances confirms that the planet harbors a “stabilizing feedback” mechanism that acts over hundreds of thousands of years to pull the climate back from the brink, keeping global temperatures within a steady, habitable range.

https://news.mit.edu/2022/earth-stabilizing-temperature-1116

#212 Faron on 11.18.22 at 11:31 am

#205 Sail Away on 11.18.22 at 10:47 am

Sleeping in HQ and working his customary 16-20 hour days

First: amazing that you are still spreading this outright lie.

Second: the highway (which runs under the railroad where the washout occurred) was sacrificed in order to get rail up. Extremely dishonest comparison.

#213 Is Anybody Listening? on 11.18.22 at 11:34 am

Twitter loses 90% of their employees and still functioning

Let’s do the government next!

#214 Sail Away on 11.18.22 at 11:38 am

#208 Bubbles on 11.18.22 at 11:11 am

People never learn.

Canadians have lost $131 billion investing in cannabis

—————

Haha. Well, you know, they were just following the lead of a few major public sector pension gamblers, whoops-‘investors’. Hey, same as crypto, probably just lost a couple hundred mil or so. Rounding error for the big funds.

Guess who doesn’t make risky, speculative investments of any size? My man Buffett. Rule No. !: Don’t lose money.

https://www.bnnbloomberg.ca/an-awakening-major-canadian-pension-funds-wade-into-pot-stocks-1.1068118.amp.html

#215 Ponzius Pilatus on 11.18.22 at 11:38 am

#205 Sailo

Elon sets the example. Sleeping in HQ and working his customary 16-20 hour days. Master motivator and producer. No worker at any of Elon’s ventures has ever claimed to work harder than the man. Successing!
————————-
Churchill never slept in the trenches with his soldiers.
Waste of his time.

#216 Dharma Bum on 11.18.22 at 11:43 am

Home ownership is a luxury for those that can actually afford it.

Many “homeowners” are merely debtors posing as owners.

They actually own nothing.

Their perception of ownership is just a state of mind.

These folks would be better off being debt free and investing their surplus cash in solid securities that have liquidity and growth and yield potential.

Then, one day, they might accumulate enough money to actually own a dwelling, if it makes them feel better.

#217 Sail Away on 11.18.22 at 12:01 pm

#212 Faron on 11.18.22 at 11:31 am
#205 Sail Away on 11.18.22 at 10:47 am

Sleeping in HQ and working his customary 16-20 hour days

—————

First: amazing that you are still spreading this outright lie.

Second: the highway (which runs under the railroad where the washout occurred) was sacrificed in order to get rail up. Extremely dishonest comparison.

—————

Sorry. E works 21 hour days. My bad.

#218 Gen X'r on 11.18.22 at 12:02 pm

Hi Garth,
Am I getting this right, missing something, or outright off – The number of people let into Canada is based on things like the death rate, people leaving, and the number of babies born each year. And the number of people allowed in, is set at keeping the economy growing at a healthy rate? This is measured using the GDP, keeping it healthily increasing.
If I am missing something, are you able to educate me?

#219 Old Boot on 11.18.22 at 12:25 pm

#199 Observer on 11.18.22 at 9:59 am

Elon Musk’s Twitter takeover was captured by software engineer’s cartoons. One example:

Any Twitter employee who speaks out against our tolerant policy of absolute free speech shall be immediately fired.

———–

All companies have social media policies that employees must be mindful of, even companies that run social media platforms.

Did the outspoken engineer have his Twitter account pulled? No, you say? Sounds like free speech prevailed.

Classic willful categorization fallacy. Elon never promised that employees of Twitter could say whatever they pleased about Twitter; he said that Twitter would permit free speech within the laws of the user’s country.

I hope you actually understand the difference between violating employer policies, and the concept of legal free speech in the public sphere. Your future may depend on it.

#220 Dr V on 11.18.22 at 12:30 pm

211 Brian

From the linked article

“On the one hand, it’s good because we know that today’s global warming will eventually be canceled out through this stabilizing feedback,” says Constantin Arnscheidt, a graduate student in MIT’s Department of Earth, Atmospheric and Planetary Sciences (EAPS). “But on the other hand, it will take hundreds of thousands of years to happen, so not fast enough to solve our present-day issues.”

So while interesting, basically irrelevant and of little comfort.

#221 Faron on 11.18.22 at 12:35 pm

#215 Ponzius Pilatus on 11.18.22 at 11:38 am
#205 Sailo

Churchill never slept in the trenches with his soldiers.
Waste of his time.

Elon is soooo motivating that his employees are leaving by the 1000s.

Also, Churchill probably didn’t do nearly as much cocaine as Musk.

Turns out that Elon was an illegal alien working in the US from 1995 to 1997. Illegals are an important demographic to squash according to a certain set here.

#222 Ponzius Pilatus on 11.18.22 at 12:39 pm

213 Is Anybody Listening? on 11.18.22 at 11:34 am
Twitter loses 90% of their employees and still functioning

Let’s do the government next!
————————
Sure,
Let’s fire all the public servants.
And then rehire them to process all the EI claims.
Oh, I see.
You’d cancel EI, too.

#223 RG on 11.18.22 at 12:56 pm

I guess I live the nightmare life so many of you here dread, despise, and abhore. I rent an apartment, and 80% of my colleagues are immigrants.

Guess what? My apartment is quiet and serene. Our company and in fact our industry would not exist without immigrants, and not a single Canadian born person in my industry is out of a job because of immigrants. And thanks to Garth my diversified nest egg is growing nicely and without anxiety.

#224 Sail Away on 11.18.22 at 1:02 pm

#215 Ponzius Pilatus on 11.18.22 at 11:38 am
#205 Sailo

Elon sets the example. Sleeping in HQ and working his customary 16-20 hour days. Master motivator and producer. No worker at any of Elon’s ventures has ever claimed to work harder than the man. Successing!

———

Churchill never slept in the trenches with his soldiers.
Waste of his time.

———

Of course he did. HQ is HQ. The brain centre.

You don’t think Churchill stayed tucked up cozy with his wife and fam in their bungalow like Trudeau, do you?

#225 Faron on 11.18.22 at 1:05 pm

#214 Sail Away on 11.18.22 at 11:38 am
#208 Bubbles on 11.18.22 at 11:11 am

Not a cannabis stock purchaser, but one thing has to be made clear when referencing pension funds. It’s part of sound portfolio management to use derivatives to hedge the portfolio. Many if these have a reasonable chance of going to zero, yet they are considered sound practice. No one bats an eye at the lost premium because of the outside chance of massive return in a bad event.

Getting supremely worked up about small, speculative components of giant funds shows a severe lack of understanding about fund management. What matters at the end of the day is overall performance. If they are beating a braindead benchmark in total return, then who cares. If not, then there’s call for complaint.

I’ll add that there are a number of extremely poor investment choices in the Ontario fund that suggests there is horrible management there.

#226 Brett in Calgary on 11.18.22 at 1:10 pm

The very large elephant in the room which explains almost all the ranting here is that Canada has poor (economic) demographics. I am not picking on age groups, but data clearly shows that nesting, young’ns drive economies. Proportionally we don’t have as many in Canada as other countries (i.e., Mexico, Brazil, France). We need immigrants because we are a comparatively “experienced and wise” country. Houses are expensive because money has been cheap for a long time, and the Canadian trope has been “they always go up”. Read Peter Zeihan’s latest book on shifting demographics/onshoring, or Scott Galloways more controversial musings on how the political/economic systems preserves, rather than builds wealth. Bottom line: everyone for themselves and you are better off to learn about the system than be run over by it.

#227 The West on 11.18.22 at 1:11 pm

Alberta gets a lot of bad rapport. That was brought on by PET.

Has anyone ever been to Saskatchewan? They are way more “Saskatchewan for Saskatchewaneans(??) than Alberta.

#228 RG on 11.18.22 at 1:36 pm

#205 Sail Away

The recalcitrants have been reclassified to ‘unemployed’. Twitter traffic just hit another record level as everyone logs on to see it fail. Strangely, it’s not. Failing, that is.
_____

A very naive take on both the nature of the employees that left, and how IT systems fail. For those of you actually interested in facts (not for Sail Away, who is unteachable) here is a superior take on how Twitter can collapse, by someone who actually knows what they are talking about:

https://threadreaderapp.com/thread/1593541177965678592.html

#229 Mattl on 11.18.22 at 1:41 pm

Canada is a paradise compared to most of the world. Seventy per cent of us own real estate, there is 95% employment, four-in-ten families pay no net income tax and the health care system is not collapsing. You call these ‘hard times’? What a wuss. – Garth

————————————————————-

Agree with most of this, but HC right now is a disaster. Been waiting 2 weeks on a image for what may be a cracked bone in my ankle. I pay 6 figures in tax and can’t get a scan without going to ER.

5MM Canadians can’t find a family doctor. My doctor and the local clinic? Virtual only, she doesn’t go into the clinic anymore. Will diagnose your ear infection over facetime.

Wait times for surgeries are 6+ months.

While not collapsing, save for the Emergency Room, it is evapourating. I suspect HC is much better in most developed countries. But hey, it’s free, go Canada go.

Simple fix: stop pretending we can have an efficient universal system and allow a tandem private one. Political guts would get us there. – Garth

#230 Malcolm on 11.18.22 at 1:57 pm

Interesting, my comment praising immigrants but questioning Canada’s massive number of yearly immigrants was deleted.

I guess I have an answer to my question of whether we can have a thoughtful discussion of the merits of immigration.

No doubt this comment will also be deleted. Really sad. I don’t agree with Garth all the time of course but I assumed he had an open mind.

Exactly what part of, “we are not debating immigration levels” do you not understand? – Garth

#231 roofer on 11.18.22 at 2:54 pm

When you state “Climate Change” I’m assuming you mean changes to the political climate in different parts of the world due to chaos that has/is materializing?

#232 Feel Sorry For The Immigrants to Canada on 11.18.22 at 3:02 pm

Everywhere they turn the sharks in the Canadian are out to take a huge bite out of them, one by one. Realtors, politicians, car dealers, builders, immigration consultants, developers, travel agents, universities, school boards, colleges etc.

#233 Faron on 11.18.22 at 3:16 pm

#228 RG on 11.18.22 at 1:36 pm
#205 Sail Away

A very naive take on both the nature of the employees that left, and how IT systems fail. For those of you actually interested in facts (not for Sail Away, who is unteachable) here is a superior take on how Twitter can collapse, by someone who actually knows what they are talking about:

https://threadreaderapp.com/thread/1593541177965678592.html

I do love it when someone comes out of the woodwork having sniffed one of Sail Away’s stinkers. Chances of Sail Away addressing this with *any* intellectual honesty are roughly zero. Okay, slightly higher than that in order to attempt to prove me wrong. Kind of a Schrödinger’s cat thing.

#234 crowdedelevatorfartz on 11.18.22 at 3:23 pm

#2222 Ponzies Public Pals
“You’d cancel EI, too.”
+++

When there are 1,000,000 jobs looking for workers….?
Absolutely.
Why are people allowed to draw EI right now?
It should be suspended.
1,000,000 jobs are looking for workers.

#235 Dr V on 11.18.22 at 4:39 pm

211 Brian – I do apologize for not thanking you for this
link.

#236 MaxBerniersShorts on 11.18.22 at 7:06 pm

LOL, because there is no such law as Supply & Demand. Apparently it is just Supply now.

#237 MalcolmM on 11.18.22 at 7:31 pm

“Exactly what part …?”.

The part where nothing in the article stated that. Or did I miss something? Sorry but I don’t read through your responses to other peoples comments to find out what I should not post.

#238 Observer on 11.18.22 at 8:15 pm

Interesting.

https://threadreaderapp.com/thread/1593541177965678592.html

#239 Overheardyou on 11.18.22 at 8:55 pm

We shall call him ‘Go to cash Mike, stay in cash Mike’ lol

#240 Bubbles on 11.19.22 at 5:07 am

#214 Sail Away on 11.18.22 at 11:38 am
#225 Faron on 11.18.22 at 1:05 pm
Lol

I grabbed some weed way back. It went parabolic and I pulled the chute.
.com too. Watched the bros go down on that also.
The more hype….that faster I run from it.
Mostly own commercial RE in booming goto retirement places, bought eons ago. No rent controls :-)
Nov to Jan looked bubblishes and it was…Preferred are still in the tank showing no signs of life. ZPR is one I watch.

#241 Bubbles on 11.19.22 at 5:10 am

Simple fix: stop pretending we can have an efficient universal system and allow a tandem private one. Political guts would get us there. – Garth

Agreed.
Our rulers are clueless on sooooooooo many levels.

#242 Name right here on 11.19.22 at 7:41 am

It’s boldness. These cretins have always thought these things but were smart enough to keep it to themselves. Then along came Trump all of his ilk and they felt he and they gave permission for this parasitic point of view. You can trace the rise of it back to the rise of Trump.

#243 Steven Rowlandson on 11.19.22 at 8:15 am

“And if you think it’s getting crowed or expensive, move 300km north. You will find that Canada has an abundance of inexpensive land once you stop hugging the 49th.”

Yeah, that will work if there is a bullet train to places where there is work that pays exceptionally well and if that happens you will need a starship because there will be no affordable real estate on the planet and that is probably the case already. A $50000 home in Geraldton, Ontario is fine if you live and work there and make $20,000 or better. If you are getting paid less or not at all even that is of no use. Real estate as an investment is a universal genocidal mental illness that is a bigger plague than covid ever will be. Without the right cure to this disease Canada is no longer a viable entity or place to live for anyone. Then again Canada is not the only nation with this problem.