The right stuff

Well, poor Tatiana. My colleague yesterday waded into the dark swamp of negativity that this pathetic blog bobs upon, and was thwacked for suggesting women can be better investors.

Did she learn anything?

Of course. To ignore you.

In fact, the harpies on this site are reflective of an ingrained wussiness and visceral fear that permeates society. Too bad. While so many are hiding under rocks, beneath mortgages and squirreled into GICs, the world is moving on. Look up. Life is good.

In case you missed it, the stock market has leapt about 20% from its lows. Despite Putin, China’s Covid craziness, inflation, higher rates, Harry Styles, snow in Surrey, Trump again and SBF, investors have been embracing risk because they see a bright future. As we’ve been telling you for a while, 2023 looks like a winner. Any recession will be a short nothingburger (RBC agreed yesterday), interest rate increases will end in the Spring, inflation will moderate, Ukraine will get fixed and China will do a health pivot. Those are just reasonable expectations.

But look at this…

When accountants (CPA Canada) surveyed clients about the economy, the results were shocking. Only 9% were optimistic for the next year – down epically from 52% a year ago. The top problems were inflation (21%), rates (16%) and global stuff (15%). Over 70% think inflation will hurt their business or employer.

This black mood is likely influenced by real estate, now the most impacted asset for most people. Mortgage rates have doubled (or more). Another increase comes next Wednesday. Hundreds of thousands of variable home loans have hit their trigger points. Sales have tanked. With the Canadian economy twice as dependent on house horniness as the American one, no wonder we’re a nation of depressed beavers drowning our sorrows in syrup. And sniping at female financial advisors.

So, snap out of it. Digest the facts.

First, inflation is falling. No, really. Down in Canada and lower in the US. The latest data (Thursday) was encouraging as the personal expenditures price index posted a smaller-than-expected gain, the second-lightest of the year. It showed spending is up and savings down (a 17-year low). Logic tells us people turtle, pull in their horns and hunker down when they sense bad times are coming. Americans are not. And it’s interesting that the savings rate is way up in Canada (to 5.7%) and way down in the States (2.3%).

So, one of us has it wrong.

Did you see what happened Wednesday? Fed boss Jerome Powell said (a) there’s progress on getting costs under control, so (b) the next rate hike in two weeks will be smaller and (c) there will be a pause, maybe an end to rate hikes, in the next few months. He also said inflation is going back down to 2%, and didn’t giggle. In response, Mr. Market roared, investors poured in, bond yields dropped, stocks shot higher, the US$ decreased and the stage was set for the next big event – jobs numbers out tomorrow. They will be fine. The unemployment rate will stay buried in the 3% range. So you can stop fretting about a recession.

In short, 2022 may go down as a year of triumph for the CBs. The storyline: rates exploded higher after inflation ignited (thanks to Putin, post-Covid, oil, the supply chain and Xi). Monetary authorities laid rubber with aggressive rate hikes while being careful not to go too far. We now end the year with full employment, reasonable growth, no recession, doused house lust, recovering financial markets, weakened inflation and – yes – the prospect of a soft landing.

What’s not to feel good about? Why are we morose? Trashing females and central bankers? Sad.

So the predictions here stand. Rates will rise some more, pause, and hold. No declines in 2023. Maybe none in 2024. After all, they’re still cheap by historic norms. Thus, real estate will continue to be a risky buy and a tenuous sell. Meanwhile, no serious recession. GDP growth. Inflation drifting lower. Some kind of Ukrainian peace. Way less drama than 2022.

Finally, today, a unique offering thanks to blog dog Larry. He tells me he’ll soon have the ear of the Tiffster, and is asking for policy suggestions.

Hope all is well and as always thank you for the continued efforts to educate the masses! I’m in the fortunate position to be at a small dinner with Gov. Tiff Macklem in a few weeks.  I am polling other leaders and those in positions of knowledge what they would like to put forth to the Bank of Canada.   My main objective, being a retailer, is to get the bank to move on the ridiculous duopoly of Visa and MC on their insanely high interchange fees. They are regressive and cost consumers billions a year more than other first world countries.   The bank has the teeth to do something here as they regulate that area of our economy.

What would your angle be?   Many don’t like the interest rate hikes but they are needed and one of the only tools available to the bank.   I won’t be suggesting or advocating to do otherwise and bring rates back but I am definitely interested what your thoughts would be.

Frankly, L, it looks to me like history will judge our CB to have done exactly the right thing at the right time. Flood the pandemic with money to rescue the economy from a scary event. Then starve the recovery via higher rates to quell our animal spirits. The political foolishness about firing Tiff, blaming the Bank of Canada for causing global inflation or printing money for political masters was nothing but theatre. Like supporting the truckers. Or blaming the WEF.

In a country run by egomaniacs, manipulators, fake communicators and folks with nice hair, it’s comforting to have an adult in the room. Tell him that, Larry. And, for God’s sake, don’t let him read the comments section.

About the picture: “Here is the lion in winter,” writes a regular poster asking to be anon. “Abandoned by previous owners of the acreage property sold to my brother, neighbours advised his name was Scoobie Doo.  At first, determined to keep undercover and independent, he eventually came running one day when his name was called.  Even the resident German Shepherd received a daily master class in ‘who’s your daddy’.    No one knows how old he was when he died, wrapped in his favourite blanket, in the arms of my sister in law.  With his boots on.”

154 comments ↓

#1 NEW YORK YANKEE on 12.01.22 at 2:54 pm

Great deal – no wonder Canadian home prices are crashing!!
https://oldhousesunder100k.com/circa-1876-old-farm-for-sale-on-8-acres-house-barn-pond-outbuilding-in-cortland-ny-64k/?fbclid=IwAR14IBK_I5dBwMszt5IpPuGU8WXdF6U0lo0cQ5cA4UKLGI2KK-1fVmvu3g8

#2 Brunett43 on 12.01.22 at 3:06 pm

Wussiness…lol, put a “P” in front of that!

#3 Lower the Boom....er not on 12.01.22 at 3:10 pm

Yogism 11: “I am unable to fault myself for victim citing”.

#4 kommykim on 12.01.22 at 3:15 pm

Interesting article about the variable rate mortgages held at scotia bank. Look like the wheels might stay on the cart a bit longer much to the chagrin of the doomers:

https://www.canadianmortgagetrends.com/2022/11/the-variable-customer-is-in-good-shape-says-scotiabank/

#5 Old Ron on 12.01.22 at 3:19 pm

I am not sure about Real Estate Garth. I think if rates drop slightly, then the Specs (40% of the market) will get back in the game.

The Investors are hooked, but intreat rates sent them to Rehab. If cheap money hits the streets, they will be back on the corner looking for a hit. That is all they think about. Not Crypto, Not Equities, Not GICs. Only chasing the Real Estate Dragon satisfies them.

#6 Russ on 12.01.22 at 3:26 pm

Hi Larry,

As a shareholder of Visa & some Canadian bank equities (outside of ETFs) I like the current arrangement they enjoy on our national landscpe.

However, there may be large political points to be gained by Tiff moving towards capping/lowering credit card interests rates across the board.

This will not help reduce the retail industry card transaction costs of course, but stop being so selfish. :)
sarc/

Cheers, R

#7 Paddy on 12.01.22 at 3:26 pm

Scoobie doo was a good boy. Prob tough as nails too. Very touching story…”wrapped in his favourite blanket”..my eyes welled up a bit.
I had 3 cats growing up, all strays and they all showed up weeks apart. They were really awesome. All different characters. Our family really loved those cats and took care of them. Even though I’m a dog person now, I’ll have a special place in my heart for the felines.

#8 Old Boot on 12.01.22 at 3:26 pm

Yes, quite the (unintentionally, I’m sure) revealing responses to yesterday’s blog.

If you still subscribe to antediluvian notions about women’s work (paid and unpaid), how many investment and economic fallacies do you similarly cling to that are gutting your portfolio, much the same way your blinkered misogyny gutted your hopes of a meaningful relationship or led you to divorce and financial ruin?

#9 Sail Away on 12.01.22 at 3:28 pm

I didn’t see Tatiana getting abused. She made some statements and a number of people weighed in with support and other perspectives.

Fairly respectfully, I thought. If a political debate ever went like that, it would be a breath of fresh air.

Respectful disagreement is not abuse. People who start throwing around accusations, insults, ‘-isms’ and ‘-istics’ are the problem.

And to be fair, there is a lot of context around ‘gender wage gap’.

#10 The real Kip (Ret) on 12.01.22 at 3:31 pm

Every Thursday up here in TREB area N18 (Georgina) they drive by the house and toss the local York Region paper and flyers in the ditch. Most of the neighbours just let it wash into Lake Simcoe but I ran out and grabbed mine today where the headline screamed “York Region will add at least 125,000 new homes in the next 10 years. Seems Doug Ford didn’t get the memo. Best buy the dip when it comes to Ontario housing.

#11 mj on 12.01.22 at 3:31 pm

I was watching a video and someone was saying more countries will move away from purchasing oil in the US dollar. That would cause more inflation in the states if that happens. Would that be correct?

Oil is priced in US$. That will not change. – Garth

#12 A J on 12.01.22 at 3:32 pm

You have to understand….No recession and successfully squashing inflation goes against the narrative that whips Conservatives into a frenzy. They want the country to crash and burn to “own the Libs.” They want families put out on the street in the snow so they can blame Trudeau. No wonder these people are morose. It feeds the “Trudeau bad” narrative they love so much. A quick rebound gives them limited headlines to gripe about on Facebook. And sells less “F Trudeau” bumper stickers.

#13 ElGatoNeroYVR on 12.01.22 at 3:35 pm

Let’s be fair here: The issues people had yesterday with Tatiana’s post were related to the “gender pay gap” which is in no way related to women investing , separate issues altogether.
Also IMHO not relevant to current generations (millenials and post-mills) as most young women I worked with and know personally are quite involved and knowledgeable about investing and finances in general ,Tatiana herself being a prime example.

#14 Dolce Vita on 12.01.22 at 3:40 pm

Revised Blog Title …

“The New Age”

where

“Thoughts Create”

accompaniment whilst creating …

https://youtu.be/UiSkMxltu00?t=79

————————-

I don’t agree on the rose colored glasses take Garth BUT

you better be right is all I’ll say.

Counting on it.

– Lord Shiva

#15 IHCTD9 on 12.01.22 at 3:43 pm

Cats love that solar heat, Scoobie looks happy (and well fed).

Nice big pop in the B+D today, it’s been a little frisky off and on over the last month.

Larry, ask Tiff to stay true to the colours next year if economic storm clouds gather. It’s bulwark time.

#16 TurnerNation on 12.01.22 at 3:45 pm

Treasury Blondes on a tear lately. TLT….it’s dynamite. TLT.

https://finviz.com/futures_charts.ashx?t=ZB&p=d1

————

Control over our feeding? Check. Our globalist masters will starve us out. Is there anything ‘Climate’ and Corvid cannot accomplish? March 2020 kicked it all off.

https://www.msn.com/en-gb/news/uknews/netherlands-to-close-up-to-3000-farms-to-comply-with-eu-rules/ar-AA14Eokt?li=BBoPWjQ
Netherlands to close up to 3,000 farms to comply with EU rules

“The latest culling comes after 50 million birds have been slaughtered nationwide to try and contain the ongoing outbreak according to AP,
According to the report, 6.8 million birds have been killed in Nebraska – the second-most behind Iowa, which has killed 15.5 million.
Another 1.8 million chickens were ordered to be culled in Nebraska after agriculture officials analyzed yet another bird flu outbreak on a farm.”

——
Control over Travel? Check. But you are free to leave your UN Smart City at any time Comrades. Just try it…

https://www.zerohedge.com/political/london-mayor-unveils-crippling-vehicle-emission-charge-all-london-despite-80-opposition
The move will mean that an estimated 200,000 motorists of non-compliant vehicles producing higher carbon emissions will be slapped with a daily £12.50 levy for driving their vehicle within the Greater London Authority boundary.
The extension has been agreed despite overwhelming opposition from Londoners… showed 80 percent of people in the affected area opposed the plan.

#17 Sail Away on 12.01.22 at 3:49 pm

“In case you missed it, the stock market has leapt about 20% from its lows.”

——–

Nope, didn’t miss it. We have reaped every percentage point there.

Picked up a bunch more Costco on this morning’s irrational 6.5% dip. Bam!

#18 IHCTD9 on 12.01.22 at 3:52 pm

#162 Old Boot on 12.01.22 at 11:03 am

Wow, you watched a video once? You must be an expert on the subject.

I’ve witnessed, or assisted with, many arrests and takedowns and can speak with a wee bit more credibility dude.

Like “the hose monkey will carry me from the burning building” myth , no single cop, male or female, is tackling a resisting suspect with physical force. 5 cops, each using a weapon in the escalating force continuum, if time and circumstance permit.
____

Uh… That vid showed real Cops, on a real call, dealing with a real problem. They didn’t do any of the stuff you said.

Did they do it all wrong bro?

#19 The Great Gazoo on 12.01.22 at 3:55 pm

I agree Larry – pursue the duopoly of MC and Visa with the Tiffer. I for one dislike all these cash rebates and travel point programs that the consumer always pays in the end. Where I am able to, I use a debit card, but will admit for major purchases (>$200) I will use my Visa or MC. Seems my options are limited unless I’m willing to subsidize others who force retailers to crank up their prices.

I like the recent change that allows retailers to charge an extra fee if you use a credit card. Hopefully, it becomes accepted by the public. It’s about time, I am sick of subsidizing others 100%.

Larry, it sure would be nice to see more competition for the big 5’s oligopoly.

https://www.theglobeandmail.com/business/rob-magazine/article-canadas-big-banks-are-heftier-oligopolies-than-us-ones-that-could/

And we just lost HSBC – so competition will be weaker.

The exec’s at the big 5 make well in excess of $10 million per year, when they could pay capable folks at salaries and bonuses materially lower to do what they do. They have no real threats – they have a license to print money from the government of Canada. Pathetic really.

Not asking for a wholesale transformation, but a shift in direction to more meaningful competition in this country for the big 5. It’s like a an old boy and girl’s club where they look after each other – Tiff included.

#20 TurnerNation on 12.01.22 at 4:00 pm

Land. In March 2020 we were kicked off it. (Wars are fought over land). Closed, were the National & provincial parks, boat docks, playgrounds, park benches, sports fields. All for our health!!!
Was it all a dry run, and part of WW3?

https://www.westernstandard.news/alberta/ipca-trudeaus-land-grab-happening-across-canada-not-just-in-alberta/article_5e5054d6-719d-11ed-90fc-032089cf1485.html
Achieving Canada’s goal of conserving 25% of Canada’s lands, inland waters, and oceans, respectively, by 2025, and working toward 30% of each by 2030.


— Life in Kanada. Truckers occupy a city and no arrests made, The Right. But the leftists resort to name calling, violence at any time. Very dangerous group.

https://www.cbc.ca/news/canada/ottawa/ottawa-police-meeting-arrest-eric-stubbs-1.6666916
Ottawa Police @OttawaPolice Following the adjournment of the Ottawa Police Services Board this evening, several individuals became combative, verbally abusive to members of the public and refused to leave the premises. 1/2

—-
—-
File this one under control over feeding and travel.
Food arrives via truck. With the stroke of a pen we will be starved out.

https://www.zerohedge.com/economics/california-mulls-ban-all-gas-and-diesel-truck-fleets

#21 Mike in Calgary on 12.01.22 at 4:03 pm

I read Tatiana’s blog yesterday. I honstly agreed with most of what she said, but the comments were brutal. Sage advise to simply ignore the noise.

As for Tiff, what else could he have done given the greasy biscuit that he was handed.

#22 I don’t know on 12.01.22 at 4:03 pm

CB’s are just removing the excess, unnecessary stimulus leftover from the pandemic.

It’s clear the economy was running white hot, and that covid shut down depressed supply chains couldn’t keep up.

We are going from white-hot to just hot. That’s it. Big deal.

Anyone else who told you otherwise, and who thought that we were going back to polyester and bell bottoms, is clueless. People hoarding cash scared of their shadow have already missed out (like every other time). Like our host mentioned many times over the past year, it was a good time to invest. It still is..but the bargains are disappearing/have disappeared.

Real estate? Will be totally fine like always. A lot of noise but no substance here too. A hot economy with record low unemployment is not exactly the backdrop for big declines. As with stocks, the greedy hoping for further declines in price will fall into the usual doom and gloom trap and miss out. Real estate bears are 99% of the time just bulls who are frustrated they can’t buy. Shelter is a right. Owning real estate is not.

IDK

#23 Brett in Calgary on 12.01.22 at 4:10 pm

Tatiana is brave to write on this blog, that is for sure. Hopefully she stayed away from the comment section.

What is your opinion on the plethora of leading indicators showing marked slowdown in early 2023. For instance:

https://themacrocompass.substack.com/p/when-recession#details

2023 is feeling a lot like 2001 to me.

Also, if anyone is paying attention both gold (priced in both US and CAD) as well as long bonds have out- performed all North American stock indexes this past month. Just say’n.

#24 Tiff on 12.01.22 at 4:17 pm

The reason Tiff should be fired is because he told Canadians low rates were here to stay and they should act accordingly. Either he is stupid or he lied. In either case, that makes him unfit for the job.

And our inept Finance Minister then stood in front of the country, and with a straight face, told everyone that rates are so low, and will continue to be so low, that Canadian debt service payments are no biggie.

If you ran a company this way, securities commissions would run you up a flag pole. if you run your home this way, you’ll be bankrupt.

These people are amateurs and/or liars.

Sorry Garth, I know you have a tremendous amount of disdain for Pierre, but he’s right on this one.

No he isn’t. Pepe created a straw man for you to be mad at. Macklem did not create inflation and he was no different from every other central banker (and government) that did not see what a Ukraine invasion, $100 oil, insane consumer spending and supply chain meltdown would do to inflation. – Garth

#25 alexinvestor on 12.01.22 at 4:17 pm

Tiff Macklem did say rates were going to be low for a very long time, and the monetary policy report noted rates were going to be low until the end of 2023. Oops. Good thing I locked-in my mortgage, but if I hadn’t, I might be a tad upset.

And growth had better be good. Canada’s population grew 0.7% (or 2.8% annualized) in Q2 2022, and 2% in 2022. Anything less than 3.5% growth isn’t going to cut it.

https://globalnews.ca/news/9162216/canada-population-growth-statistics-canada-sept-2022/

https://www150.statcan.gc.ca/n1/daily-quotidien/220928/dq220928c-eng.pdf

#26 JSS on 12.01.22 at 4:20 pm

Notable dividend increases lately:

– Enbridge
– RBC
– TD
– BMO
– CIBC
– National Bank

Dividend increases ranging from 2.4% to over 7%.

Heavenly

#27 the Jaguar on 12.01.22 at 4:26 pm

“In a country run by egomaniacs, manipulators, fake communicators and folks with nice hair, it’s comforting to have an adult in the room. Tell him that, Larry.” – GT

Buy him an El Presidente, Larry. Salud!

#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

Can she clarify how that is possible? Assuming Canadians are roughly 50% men and 50% women, it is not possible. Even if 100% of Canadian men have investments (not true), that would mean at least 54% of Canadian women would have investments to, to get to over 77% of all Canadians (men and women) having investments.

#29 willworkforpickles on 12.01.22 at 4:26 pm

BANNED (Abusive)

#30 Bill Grable on 12.01.22 at 4:26 pm

The questions I have: DIESEL – shortage – oops. FAMINE, DROUGHT.
Don’t those count?
Money printing to infinity.
People are underwater on their RE and have small to zero savings.
I am not that copacetic.

#31 Leo the Lion on 12.01.22 at 4:26 pm

Great photo of Scoobie-Doo. Thanks to your brother and sister in law for giving him such a great home and lots of love – can’t imagine our lives without sharing them with animals in our homes!

#32 Old Boot on 12.01.22 at 4:27 pm

#18 IHCTD9 on 12.01.22 at 3:52 pm

#162 Old Boot on 12.01.22 at 11:03 am

Wow, you watched a video once? You must be an expert on the subject.

I’ve witnessed, or assisted with, many arrests and takedowns and can speak with a wee bit more credibility dude.

Like “the hose monkey will carry me from the burning building” myth , no single cop, male or female, is tackling a resisting suspect with physical force. 5 cops, each using a weapon in the escalating force continuum, if time and circumstance permit.
____

Uh… That vid showed real Cops, on a real call, dealing with a real problem. They didn’t do any of the stuff you said.

Did they do it all wrong bro?

———–

Listen to yourself.

You watched one video, maybe it actually exists, maybe it’s edited according to an ideologic slant, and made a sweeping generalization about the ability of women to perform in law enforcement.

To do that, you had to ignore the reality of thousands of female police officers satisfactorily performing their duties (and doing it without shooting or tasering every perp), in favour of the one video clip that magically aligned with your confirmation bias.

The only question (well, we all know the answer) is, why would you say something so counter-factual, on such weak ‘evidence’?

Your entire argument rests on one video clip from a TV show. If you’re confident that a single video clip from a TV show is superior proof of your argument that women are constitutionally incapable of performing the role of police officer, in fact superior proof to that of hundreds of thousands of hours of actual women competently performing actual policing duties, well I guess I can only say:

Say it with your whole chest my dude! I’m a blinkered misogynist neckbeard who can’t deal with reality, and I stubbornly cling to comforting lies that protect my fragile male ego!

#33 Work or Slavery? on 12.01.22 at 4:28 pm

Garth,

The points made by commenters about the difference in earnings were valid and factually proven. The complexity of the details (where the devil always is) takes longer to explain, and doesn’t fit the quick click-bait headlines.

But let us zoom out. Let us look at work itself and recent resistance to it by an entire section of population.

Auschwitz gate says “Arbeit macht frei”, a German phrase meaning “Work sets you free”.

Does it?

Or it it a form of modern slavery?

I wonder more and more.

Since money is your profession, I’m sure you know that the broad acceptance of coins and “the beginning of the end of slavery” in history of empires overlap, conveniently.

Maybe what the Germans meant to write was…

“Work of 99% sets the 1% free?”

#34 Tiff on 12.01.22 at 4:35 pm

Honestly Garth, you’ve always struck me as principled. Not sure why you’re claiming Tiff didnt stand in front of Canadians and say this. It’s widely quoted and available.

For example @ Bloomberg https://www.bnnbloomberg.ca/interest-rates-will-be-low-for-a-long-time-macklem-1.1465901

And you don’t think massively increasing the money supply didnt have an effect on inflation? Do you think MAYBE the governor of the bank of Canada should have cautioned the federal government of the potential implications of sending out hundreds of billions to people and incenting them to stay at home? Dude, you lamented some of these things yourself on this very blog.

We get it, you don’t like Pierre, so everything he says is stupid, awful, etc. Yeeeesh.


No he isn’t. Pepe created a straw man for you to be mad at. Macklem did not create inflation and he was no different from every other central banker (and government) that did not see what a Ukraine invasion, $100 oil, insane consumer spending and supply chain meltdown would do to inflation. – Garth

As stated, every central banker (and political leader) lacked the clairvoyance to see where rates were headed because, well, ya know, Putin didn’t call them in advance. Did you ever get a forecast wrong? And how did that excuse people from overborrowing? As for the BoC telling the government what to spend money on, not its job. Fiscal and monetary policy are separate for a reason. Pepe is an opportunist. Pure & simple. – Garth

#35 604_housing on 12.01.22 at 4:38 pm

Central banks made one error – December 2021 there was an opportunity to raise rates to soften the end of QE and slow down the markets but they held steady. Omicron wave hit and Russia war changed the landscape. I believe we would be seeing a different (slower/lower) rate climb had they moved through with a raise at end of 2021 .

#36 Felix on 12.01.22 at 4:40 pm

A cat is always the right stuff.

#37 Classical Liberal Millennial on 12.01.22 at 4:45 pm

Fact. American Express has the best rewards system. I use AMEX everywhere possible with VI /MC being a backup only for places that don’t accept AMEX.

#38 Inflation on 12.01.22 at 4:46 pm

# 22, real estate will not go up any more. This playbook is over now, get use to another playbook. It’s fuuny how people think the fed will pivot and real estate will go up even higher in the spring. 90% of people cannot afford current prices unless they have some pre existing home equity or are in the top 5% of wage earners. But good luck on your real estate bet.

#39 Paddy on 12.01.22 at 4:50 pm

#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh

#40 45north on 12.01.22 at 4:54 pm

I don’t know

Real estate? Will be totally fine like always. A lot of noise but no substance here too. A hot economy with record low unemployment is not exactly the backdrop for big declines. As with stocks, the greedy hoping for further declines in price will fall into the usual doom and gloom trap and miss out. Real estate bears are 99% of the time just bulls who are frustrated they can’t buy. Shelter is a right. Owning real estate is not.

The rest of the economy is fine but real estate is not.

Mortgage rates have doubled (or more). Another increase comes next Wednesday. Hundreds of thousands of variable home loans have hit their trigger points. Sales have tanked. With the Canadian economy twice as dependent on house horniness as the American one, no wonder we’re a nation of depressed beavers drowning our sorrows in syrup.

plus the huge debt. We’re looking at a sea change.

#41 Tiff on 12.01.22 at 5:04 pm

Sorry, Garth, but it wasn’t that opaque. Larry Summers was very clear on the warnings re: inflations, as were others. The Bank of Canada was derelict in printing money in such quantities, watching the housing market explode, while TELLING PEOPLE that rates would stay low.

I honestly have no idea why you’re denying these facts. They’re as plain as day. And you, yourself were moaning about the amount of pogey being doled out and the debt the government was generating.

You think there wouldn’t have been inflation if not for the war in Ukraine? Despite the money supply getting doubled? Dude…

————–
As stated, every central banker (and political leader) lacked the clairvoyance to see where rates were headed because, well, ya know, Putin didn’t call them in advance. Did you ever get a forecast wrong? And how did that excuse people from overborrowing? As for the BoC telling the government what to spend money on, not its job. Fiscal and monetary policy are separate for a reason. Pepe is an opportunist. Pure & simple. – Garth

#42 Devil Anse on 12.01.22 at 5:04 pm

Hi Larry –

As a consumer, I like interchange fees because they fund reward points and I play the game well. But I understand your perspective as a retailer.

Please ask the Tiffster to bring some normalcy back to housing prices. It was written on this blog recently that on average houses are 46% higher in Canada than in the US. As a result, higher interest rates will cause more damage in Canada than in the US – but please let the Tiffster know that short term pain is long term gain for our society.

#43 Ustabe on 12.01.22 at 5:06 pm

You know, if you take half of the comments yesterday and substitute the word Jew or Nigerian for the word woman…well just maybe you’d realize how out of touch a large number of you are.

Self defined bubbles to live in I suppose. I feel sorry for the women in your lives, workmates or partners.

#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm

@#8 Old Boot
“how many investment and economic fallacies do you similarly cling to that are gutting your portfolio, much the same way your blinkered misogyny gutted your hopes of a meaningful relationship or led you to divorce and financial ruin?”

+++
Im doing just fine sweetheart.
Thanks for asking.
The balanced and diversified portfolio is in 7 digits and climbing.
The relationships are on my terms… or there’s the door.
Divorce is for lawyers and suckers.

#45 Love_The_Cottage on 12.01.22 at 5:20 pm

Frankly, L, it looks to me like history will judge our CB to have done exactly the right thing at the right time.
_______
Actually they started raising rates too late and have even publicly admitted the mistake.

#46 Albertaguy in AB on 12.01.22 at 5:21 pm

#39 Paddy on 12.01.22 at 4:50 pm

Math is hard.

#47 Linda on 12.01.22 at 5:25 pm

‘Scooby’ is an apricating picture of content:) No doubt now roaming catnip fields in kitty heaven.

I think Garth has nailed the reason behind the dismal outlook of our beaver nation. So many have taken on epic debt & many younger home buyers had not previously experienced higher interest rates. So to them, rates of 5% or higher did not register as historical norms. More like the apocalypse.

#48 Linda on 12.01.22 at 5:35 pm

#25 ‘alex’ – with interest rates you need to know the context. The Interest Rate in Canada averaged 5.78 percent from 1990 until 2022, reaching an all time high of 16 percent in February of 1991 and a record low of 0.25 percent in April of 2009. So from the historical perspective interest rates are still low. And in a financial environment where valuations can change overnight, a ‘long time’ isn’t what it used to be.

#49 IHCTD9 on 12.01.22 at 5:39 pm

#162 Old Boot on 12.01.22 at 11:03 am

Listen to yourself.

You watched one video, maybe it actually exists, maybe it’s edited according to an ideologic slant, and made a sweeping generalization about the ability of women to perform in law enforcement.

To do that, you had to ignore the reality of thousands of female police officers satisfactorily performing their duties (and doing it without shooting or tasering every perp), in favour of the one video clip that magically aligned with your confirmation bias.

The only question (well, we all know the answer) is, why would you say something so counter-factual, on such weak ‘evidence’?

Your entire argument rests on one video clip from a TV show. If you’re confident that a single video clip from a TV show is superior proof of your argument that women are constitutionally incapable of performing the role of police officer, in fact superior proof to that of hundreds of thousands of hours of actual women competently performing actual policing duties, well I guess I can only say:

Say it with your whole chest my dude! I’m a blinkered misogynist neckbeard who can’t deal with reality, and I stubbornly cling to comforting lies that protect my fragile male ego!
————

You mad bro? I can see you’re having some trouble staying on point. Here, I’ll make things easier.

I made one singular assertion:

**Men are vastly more powerful than Women physically.**

That’s it. I got no clue where you’re getting all this other stuff, I never said any of it. No need for a meltdown. You can easily go back and verify it.

Try to calm down a bit first though, K homie?

#50 IHCTD9 on 12.01.22 at 5:49 pm

Something going on with Ontario hydro pricing. My bill for last month was barely over 100.00. Nothing has changed as far as usage goes…

Gas about to slip into the 1.30’s :)

#51 Tom from Mississauga on 12.01.22 at 5:51 pm

Modest recession if any in Americas, agreed. Rate hike pause in Spring, likely. Inflation moderate, yup.

Ukraine? Wheat is milled for flour, industrially baked, frozen for storage and shipping, leftover bread at home tossed in fridge. All food chains require electricity, Putin will attack it to force a famine since he can’t win on the battlefield.

China = Peter Zeihan

https://youtu.be/QzT38jCUpgU

#52 Faron on 12.01.22 at 5:56 pm

#39 Paddy on 12.01.22 at 4:50 pm
#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh

What’s 23.1/38 x 100?

Knick knack paddy whack

#53 Patrick on 12.01.22 at 5:57 pm

I checked yesterday’s comments and you weren’t lying. Knuckle draggers aplenty. I hope Tatiana isn’t discouraged from writing about these topics again in the future. I found her article very interesting.

#54 Nonplused on 12.01.22 at 6:00 pm

Seems to me part of the problem comes from speaking about controversial opinions as if they were settled.

The exercise is sometimes called “astroturfing”. That’s when the media, government, and/or special interest groups pretend there is a grassroots movement or universal understanding when none exists. They do it by publishing reports, advertising, spamming blogs, comments sections, “fact checking”, and editing Wikipedia. If the report ends in “Ask your doctor” you know it’s happened. And if it ends in name calling and disparaging not just the opinions of others, but the people themselves who hold those opinions, you especially know it’s happened. The ad hominin attack is not without its uses, but it is one of the weaker arguments and easily seen through. So usually when someone starts calling you names you can just drop the argument, you’ve won. They have nothing further. If they did, they’d use it.

In this particular case, I am not sure Tatiana even made the case that there is a “wage gap” in Canada, other than the indisputable fact that women on average report lower incomes than men do. That statistic is true, no doubt. You can look at the tax returns and see it right there. But it is also a useless statistic. About as useful as the fact that men are on average taller than women.

The people who have facts on their side seldom result to name-calling. They don’t have to. They can stick to the high road and stay out of the mud. But if you are already in the mud, about all you can do is throw it. And wallow around I suppose.

#55 baloney Sandwitch on 12.01.22 at 6:09 pm

Garth, a suggestion to bring in the “like” button for the comments (a “dislike” button will be even better).

Not happening. – Garth

#56 Ponzius Pilatus on 12.01.22 at 6:10 pm

#28 Toronto_CA on 12.01.22 at 4:26 pm
I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

Can she clarify how that is possible? Assuming Canadians are roughly 50% men and 50% women, it is not possible. Even if 100% of Canadian men have investments (not true), that would mean at least 54% of Canadian women would have investments to, to get to over 77% of all Canadians (men and women) having investments.
————–
The discussion is over, buddy.
The gist is:
More man than women invest.
For a multitude of reasons.
Jeesh.
So many bean counters here.

#57 IHCTD9 on 12.01.22 at 6:14 pm

#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm
@#8 Old Boot
“how many investment and economic fallacies do you similarly cling to that are gutting your portfolio, much the same way your blinkered misogyny gutted your hopes of a meaningful relationship or led you to divorce and financial ruin?”

+++
Im doing just fine sweetheart.
Thanks for asking.
The balanced and diversified portfolio is in 7 digits and climbing.
The relationships are on my terms… or there’s the door.
Divorce is for lawyers and suckers
——-

Man, ‘Boot is one angry mofo weaponizing personal misery like that. Most folks understand where the line is.

Breaking up is hard to do, but we’ve all done it. Boomers even had an anthem for break-ups: “Go your own way” by Fleetwood Mac.

Gen X has one too: “My way” by Limp Bizkit. I don’t know if the Mils got one, probably do.

https://www.youtube.com/watch?v=Dn8vzTsnPps

#58 Ponzius Pilatus on 12.01.22 at 6:18 pm

#44 FURZ

The relationships are on my terms… or there’s the door.
Divorce is for lawyers and suckers.
—————-
Let me guess.
What your terms are.
Well better leave it.
This a family blog.

#59 Old Boot on 12.01.22 at 6:21 pm

#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm

@#8 Old Boot
“how many investment and economic fallacies do you similarly cling to that are gutting your portfolio, much the same way your blinkered misogyny gutted your hopes of a meaningful relationship or led you to divorce and financial ruin?”

+++
Im doing just fine sweetheart.
Thanks for asking.
The balanced and diversified portfolio is in 7 digits and climbing.
The relationships are on my terms… or there’s the door.
Divorce is for lawyers and suckers.

———

Drew some blood, did I?

“Sweetheart”?

“Relationships on my terms”?

If what you call a relationship is predicated solely on your terms, it’s not a relationship. It’s a business transaction.

My 7-figure portfolio is trundling along nicely too. Goes well with my 7- figure, mortgage-free home.

This blog gives me so many opportunities to reflect on the lot of my hetero sisters, and the unfortunate reality of innate sexual orientation.

#60 Nonplused on 12.01.22 at 6:44 pm

So how easy is it to “Astroturf” something like Wikipedia? Surprisingly easy, and it can even be automated.

I have a little program in Excel that scrapes data from the internet that I am interested in. It’s in Excel. This capability has been there since at least 2003, probably earlier. That’s when I first started using it.

You can scrape practically anything. Then your macros go to work. I use it mostly for market information.

I do not scrape this blog, nor do I scrape Wikipedia. But if I wanted to it would be really easy. I could be aware of any changes is as little as the time I set the program to monitor the changes. Of course you don’t want to overdo it or the site might get cranky about all the pings and think it is a DOS attack, so I only ping once a day. But it could be more. Lots more. It’s automated.

Then, all you do is wait for the computer to let you know a site has changed. If it is a site like Wikipedia and you are tasked with monitoring the changes, you then go back in and fix it. And by “fix it”, I mean set it back to what you or your employer wants.

In many cases, that too can be automated. All you need is credentials and some programming skills.

I know this is happening because there are people who have a page dedicated to them who have gone on Wikipedia to correct information about themselves which was factually incorrect, only to have it undone again. Sometimes within minutes.

Yes, there are bots writing Wikipedia entries.

But who would do this? Well, anyone with a commercial or political interest, it turns out. And both those types of organizations can fund the effort. It’s just part of the “PR” budget.

And the folks who do it for a living aren’t using Excel.

That’s why you don’t trust anything on Wikipedia. Most of the web, actually.

The comments section of most things on the internet are also rife with “bots” as they call them. They aren’t just posting links to dating sites. Just ask the new “Chief Twit”. It’s a real problem.

And it is relatively cheap. The amount of information that can be controlled by a relatively small number of dedicated individuals is pretty impressive.

And yes, government agencies do it to. If the CIA wasn’t doing it, I’d wonder why not. Information and disinformation are why they exist. Why wouldn’t they be monitoring everything that goes on in Russia, China, and Iran? It would be something of a shock to find out they weren’t. It’s right there. Practically in your living room. All you have to do is look.

#61 PeterfromCalgary on 12.01.22 at 6:45 pm

Well we have had a lot of bad stuff happen in the past few years. Pandemic, Putin and prices or what I like to call the 3 p(s) of the apocalypse have made people think the bad news will continue.

“Recency bias, or availability bias, is a cognitive error identified in behavioral economics whereby people incorrectly believe that recent events will occur again soon. This tendency is irrational, as it obscures the true or objective probabilities of events occurring, leading people to make poor decisions.”
https://www.investopedia.com/recency-availability-bias-5206686

#62 db on 12.01.22 at 6:49 pm

#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh
….
I think he did the math correctly but the numbers don’t jibe with reality Paddy. Look at your calculation, your own understanding of Tatiana’s figures suggest 23 million men represent 79% of the 77% of Canadians. But since the population is roughly 50/50 male/female that 23 million exceeds the roughly 19 million men in the population and 19 million would represent 100% of men not 79%.
Perhaps Tatitiana could clarify the figures.

#63 jess on 12.01.22 at 6:50 pm

carousel fraud

The European Public Prosecutor’s Office (EPPO) said Tuesday that it has uncovered the largest ever value-added tax (VAT) fraud scheme in the EU, worth an estimated €2.2 billion (US$2.3 billion) in stolen tax revenue.

Law enforcement agencies across 14 EU member states simultaneously carried out more than 200 searches Tuesday as part of an 18-month-long investigation that implicates 9,000 entities and 600 people around the globe. Europol’s European Financial and Economic Crime Center deployed six investigators to Portugal and Luxembourg to help with their enforcement measures, a spokesperson told OCCRP.

Investigators suspected the electronics company of colluding with its business partners to evade the tax by failing to pay it at one step in a long chain of repeating transactions known as a “carousel”. Despite an audit into the company coming back clean, Portuguese authorities reported their suspicions to EPPO, and the investigation soon branched out to include federal law enforcement agencies, financial fraud analysts, and criminal intelligence bodies.

What they uncovered, said European Chief Prosecutor Laura Kövesi, was a “highly sophisticated criminal industry” that spanned 36 countries across the four corners of the globe, including almost all of the EU, and defrauded its governments of over two billion euros.

It is believed to be the biggest VAT carousel fraud case ever investigated in the EU. Several highly skilled organized crime groups are also said to be involved, who worked transnationally with each other “almost with an industrial logic” in order to avoid detection for so many years, EPPO said.

Due to the sheer complexity of the overall case, involving over 9,000 entities, it would’ve been almost impossible for a single country to expose it on their own, EPPO said, who added that it took well over a dozen agencies working together to bring the scheme to light.”

https://www.occrp.org/en/daily/17103-eu-uncovers-near-global-2-2-billion-tax-fraud-scheme

#64 jess on 12.01.22 at 6:52 pm

Operation Admiral: EPPO uncovers organised crime groups responsible for VAT fraud estimated at €2.2 billion
Published on 29 November 2022
The EPPO sets new standard in cross-border financial investigations 

https://www.eppo.europa.eu/en/news/operation-admiral-eppo-uncovers-organised-crime-groups-responsible-vat-fraud-estimated-eu22

#65 crowdedelevatorfartz on 12.01.22 at 6:56 pm

@Old Boot
““Sweetheart”?
++++
Bwahahaha
Like waving a feminist red flag to a bull.

“it’s not a relationship. It’s a business transaction.”
+++++
exactly.
Thats why you and I are so well off.
:)

#66 crowdedelevatorfartz on 12.01.22 at 7:01 pm

@#58 Ponzie’s puerile position.

Now now ponzie.
Stick to Turnips and Volvo station wagons.
Your dating years are long past you.
Unless……… there’s a Furry Convention we should know about?

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjfmO2w0Nn7AhVtCTQIHSLdAvoQFnoECAkQAQ&url=https%3A%2F%2Fvancoufur.org%2F&usg=AOvVaw0oKxAtKilmkbiC9XhGDwJm

#67 Factir2 on 12.01.22 at 7:05 pm

In case you missed it, the stock market has leapt about 20% from its lows. ”

Doesn’t this mean a big correction is due as markets never move up in a straight line?

#68 Gravy Train on 12.01.22 at 7:09 pm

#39 Paddy on 12.01.22 at 4:50 pm
77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh

You’re overlooking the base case, Paddy. There are at most 19 million men in Canada. You’ve just calculated that over 23 million men in Canada have investments. Do you now see the problem? No? I give up! :P

#69 Quintilian on 12.01.22 at 7:10 pm

#38 Inflation on 12.01.22 at 4:46 pm

# 22, real estate will not go up any more. This playbook is over now, get use to another playbook. It’s fuuny how people think the fed will pivot and real estate will go up even higher in the spring. 90% of people cannot afford current prices unless they have some pre existing home equity or are in the top 5% of wage earners. But good luck on your real estate bet.

100% correct, in fact Powel as well as other CB’S have stated that unemployment must rise and asset prices, especially real estate, has to drop before pivoting can occur.

The pivoting drivel is marketing material for realtors and stock pumpers.
I wish these people would get a real honest job.

Inflation is not under control. Energy prices dropped not a big deal, it is one of those commodities with elasticity, and in an efficient market.

Pumpers know how to get some mileage out of it!

#70 jess on 12.01.22 at 7:12 pm

due to ruling data offline

Beneficial Ownership Data is Critical in the Fight Against Corruption

In the aftermath of a “disastrous” European court ruling, we explain why journalists — and the public — need access to corporate ownership registries.
https://www.occrp.org/en/beneficial-ownership-data-is-critical-in-the-fight-against-corruption/

#71 IHCTD9 on 12.01.22 at 7:15 pm

#62 db on 12.01.22 at 6:49 pm
#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh
….
I think he did the math correctly but the numbers don’t jibe with reality Paddy. Look at your calculation, your own understanding of Tatiana’s figures suggest 23 million men represent 79% of the 77% of Canadians. But since the population is roughly 50/50 male/female that 23 million exceeds the roughly 19 million men in the population and 19 million would represent 100% of men not 79%.
Perhaps Tatitiana could clarify the figures
——-

T isn’t going to be able to verify the figures. She’s obviously just quoting numbers from S+P Global.

#72 Shawn on 12.01.22 at 7:21 pm

The Visa / MasterCard duopoly

Larry said: “My main objective, being a retailer, is to get the bank to move on the ridiculous duopoly of Visa and MC on their insanely high interchange fees. They are regressive and cost consumers billions a year more than other first world countries.”

#19 The Great Gazoo on 12.01.22 at 3:55 pm responded:

I agree Larry – pursue the duopoly of MC and Visa with the Tiffer. I for one dislike all these cash rebates and travel point programs that the consumer always pays in the end. Where I am able to, I use a debit card, but will admit for major purchases (>$200) I will use my Visa or MC. Seems my options are limited unless I’m willing to subsidize others who force retailers to crank up their prices.

#42 Devil Anse on 12.01.22 at 5:04 pm disagreed:
Hi Larry –

As a consumer, I like interchange fees because they fund reward points and I play the game well. But I understand your perspective as a retailer.

*************************************
Larry makes a great point. I have been saying a nd writing for many years that Visa and MasterCard are indeed a duopoly for consumers. You can’t really function as a consumer today in Canada without one. In fact even back in 1989 I was unable to rent a car becasue I did not have one back then.

I have also said that from the point of view of retailers they are two separate MONOPOLIES. Just try accepting only VISA if you run a shoe store or a clothing store or almost any retailer. You HAVE to accept MasterCard. You can get away with not accepting American Express.

Also most retailers will not surcharge now that they are allowed – too annoying to customers.

Just about the ONLY retailer with the power to choose to accept just one of these cards is Costco.

They both claim they operate in a highly competitive market. That’s completely laughable.

As for reward cards. It is a mazing that such a giant kickback scheme was allowed to be foisted on retailers. Gold cards and the like charge higher interchange fees (like a full 1% higher) and any retailer that accepts a basic Visa or MasterCard is required to accept the high fee cards.

Both Visa and MasterCard are like electronic toll booths.

Both have been astonishingly fantastic investments since their IPOs. Which as largely unregulated monopolies / duopolies is not too surprising.

Maybe technology will finally cat up with them

Tell me, why is it way harder or impossible to use debit cards (with way lower fees) online? I was going to use debit online the other day and it looked like I had to log into my bank in the middle of the purchase.

Regulators completely asleep on this.

#73 Grateful in Victoria on 12.01.22 at 7:23 pm

Tatiana’s post was excellent and well supported in many financial journals.
Don’t get discouraged Tatiana. The intelligent readers followed your post easily.

#74 CJohnC on 12.01.22 at 7:26 pm

#55 baloney Sandwich

Garth, a suggestion to bring in the “like” button for the comments (a “dislike” button will be even better).

Not happening. – Garth

*******
And I for one am glad. Who really gives a rats ass whether someone likes or dislikes a post. Really, get a life baloney Sandwich

#75 Grasshopper on 12.01.22 at 7:27 pm

My main objective, being a retailer, is to get the bank to move on the ridiculous duopoly of Visa and MC on their insanely high interchange fees.

Is this referring to Central Bank Digital Currency?

Cutting out the “middleman” like VISA and MasterCard?

The idea of a Central Bank Digital Currency (CBDC) is being considered. In parallel, the Regulated Liability Network is being trialed.

It will reduce these transaction fees and reduce tax cheats.

#76 Nora Lenderby on 12.01.22 at 7:31 pm

I just read Ms. Enhorning’s article from yesterday. Interesting and worthwhile.

It’s quite difficult to pass on financial experience to younger people, women or men. They often don’t listen to us old farts, even though it’s often experience gained by doing all the wrong things first…

I cringe when I think about what will happen when the younger people in my family get decent-sized inheritances. I don’t want to rule from the grave, just make sure they don’t run out of money. They have no clue about capital and income.

Perhaps that’s a subject for a blog post.

#77 ogdoad on 12.01.22 at 7:33 pm

You love the comment section, G. It gives you purpose. Its also a data pool of opinion (which could be a motive as to why you keep it) and bull shit. What’s not to love/hate? Perfect!

It also gives voices to those, who in real life, have none…evident by the multi-multi-multi posters (I’d offer a hug to them but bathing is a prerequisite – sorry) who have nothing else (worthwhile) to do – Not judging, btw. Just pointing out irrelevance in the making…sucks, I know, *sad face*…but its coming. . . . .

OAN, vibes are back…I’m losing big time. BB’s are confusing me. Photo in my mind. I may have to back out…not cool…do you take the loss and regroup? Phew…still havin’ fun, tho…gettin’ closer…I can feel it!

Og

#78 canuck on 12.01.22 at 7:36 pm

DELETED (Abusive, ad hominem)

#79 Summertime on 12.01.22 at 7:46 pm

Mentioning return to 2 % inflation target… now that was funny.

And I agree that the central bankers are doing precisely awesome job, exactly what they were hired to do.

Rents increases by 20 -25 %, food increases worldwide by 30-35 % in the last year alone, assets increases in double digits 10-15 % on average per year in the last 1.5 – 2 decades, even more.

And all is just fine, return to the ‘normal’ is in the cards.

Except that it isn’t.

It takes quite a balls and quite big lairs or very incompetent folks (as central bankers are) to declare the fight with inflation certainly over as real inflation is still in double digits, CPI north of 7-8 with no end in sight.

It is quite possible that they are announcing the ceiling of their rate hikes. Which is very different from the place where ‘inflation’ would return to the ‘normal’ 2 %.

Is it possible that they are wrong again?
Absolutely, this is not the first time they are wrong.

BoC for example said that the public ‘should rest assured that rates will not rise any time soon just a year ago) /verbatim.

Central bankers said that there would be no inflation.

And now somehow I should trust them?

And the economy would be just fine:

https://ca.finance.yahoo.com/news/mortgage-costs-now-eat-67-of-income-in-canada-national-bank-215306530.html

Mortgage costs now eat 67% of income in Canada: National Bank

The report said the average Canadian would need an annual income of $188,776 in order to afford a home, though that number ranges depending on the region.

————————————

All is good unless you need to rive, eat, use services and have over 200 k income /300 k in big cities.

Enjoy responsibly.

#80 JustWondering on 12.01.22 at 7:52 pm

#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm
@#8 Old Boot

The relationships are on my terms… or there’s the door

When they don’t go your way, is it the laptop or the hand that gets shown the door?

#81 jess on 12.01.22 at 7:55 pm

remember this article ?
Policing a Global Boiler Room -the milton group
fake online brokerages that lured naive investors through promises of sky-high returns — echoed OCCRP’s and Dagens Nyheter’s findings from 2020.
https://www.occrp.org/en/fraud-factory/trail-of-broken-lives-leads-to-kyiv-call-center

=========
now 2022

https://www.occrp.org/en/daily/17030-cross-border-cybercrime-raid-nabs-scam-call-centers-exposed-by-occrp
European authorities this month launched a coordinated action against hundreds of suspects accused of running a massive investment fraud network that was exposed by OCCRP in a 2020 investigation, Eurojust and Europol announced.
raided 15 call centers in Albania, Bulgaria, Georgia, North Macedonia, and Ukraine on November 8 and 9.

The series showed how a network of criminals in Ukraine, Albania, and Georgia were scamming elderly and vulnerable people around the world, luring them into making fake investments in cryptocurrency and other trendy financial instruments. Some victims lost their entire life savings and became destitute.
Fernández said that even as a seasoned investigator he had been shocked by the extent of the fraud. The group was creating so many fake investment companies — a dozen a week at one point — that they could barely name them fast enough.“There came a point where they did not even have the capacity to generate new names for these websites and they had to turn to automatic name generators,” Fernández said.

Aleksander Fjeldvær, head of cyber crime for Norway’s biggest bank, DNB, said banks there were vigilant, but often struggled to convince customers that they were being scammed due to how realistic the fraudsters’ technology was, and how intense their psychological manipulation.“You can log in to a page where you can see how much money you have invested and a graph that shows the development. It shows that your money is growing and you want the growth to continue, so you invest more money.”“Anyone can be fooled,” he added. “It is understandable that if you see your investment, and talk to an extremely convincing person, that you believe this.”

#82 Summertime on 12.01.22 at 7:57 pm

And we should not forget to be thankful to central bankers for the very mess they created.

‘Inflation is always and only a monetary phenomenon’
Milton Freedman.

Who controls the money supply?

And there we stop.

When the facts speak, even the goods are silent.

#83 Faron on 12.01.22 at 8:01 pm

#57 IHCTD9 on 12.01.22 at 6:14 pm
#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm
@#8 Old Boot

Most folks understand where the line is.

Ha! Rich coming from you. BTW, when your position gets whittled down so much by a person with way more insight than you such that you have to scream “I WAS JUS SAYIN'”. You’ve lost.

Take the L tractor.

Take a deep breath.

Now, Go do something that re-emphasizes your manliness like pushing the backyard slop around from hither to yon and back again.

#84 Faron on 12.01.22 at 8:09 pm

#9 Sail Away on 12.01.22 at 3:28 pm
I didn’t see Tatiana getting abused

Of course you didn’t despite three abusive comments published and who knows how many sent to oblivion by Garth and co.

While we are chatting, what’s the death toll on Mt. benson for the day? Figure it’s gotta be a couple few?

#85 A01 on 12.01.22 at 8:16 pm

I actually agree women are better investors. My wife has kicked my ass the last three years. However the pay gap narrative is total bunk. Compare and apple to apple, it’s the same.

#86 Old Boot on 12.01.22 at 8:24 pm

#49 IHCTD9 on 12.01.22 at 5:39 pm

You mad bro? I can see you’re having some trouble staying on point. Here, I’ll make things easier.

I made one singular assertion:

**Men are vastly more powerful than Women physically.**

That’s it. I got no clue where you’re getting all this other stuff, I never said any of it. No need for a meltdown. You can easily go back and verify it.

Try to calm down a bit first though, K homie?

#50 IHCTD9 on 12.01.22 at 5:49 pm

Something going on with Ontario hydro pricing. My bill for last month was barely over 100.00. Nothing has changed as far as usage goes…

Gas about to slip into the 1.30’s :)

“Watched a vid years ago. Drunk dude in a bar causing trouble. M + F cop show up, F cop tells buddy it’s time to go. Buddy says FY and clamps onto the edge of the pool table. Dude was maybe 5-10”, 170 (ie. smallish). She couldn’t budge him. Not an inch, not even close. Some of the bar patrons were laughing. Of course the job then fell to the M cop who had buddy on the floor in seconds.

It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. Hopefully, not too many Ladies out there have bought into this.”

————–

And how many male cops have failed to single-handedly take down suspects and required the assistance of their m or f partner? Does this reflect on the abilities of all male cops?

You tried to make female cops look incompetent and ineffective based on one incident from a TV show.

When I pointed that out, you resorted to gas-lighting. A tactic many abusive men resort to when their shitty behavior is pointed out.

Hetero chicks let so much of this crap slide for sake of domestic calm that men think none of us notice when they try to gaslight us for our perfectly accurate perceptions of their misogyny.

Not gonna work here, homie.

#87 millmech on 12.01.22 at 8:29 pm

It continues.
https://www.ft.com/content/e1ddc6f0-eb0a-4d52-8971-b1d9c2cb5c02
https://www.wsj.com/livecoverage/stock-market-news-today-11-30-2022/card/default-swaps-on-credit-suisse-climb-to-new-highs-M1wwhNvbvWE2TAL4oENb

#88 Hmm on 12.01.22 at 8:36 pm

@#49 IHCTD9 on 12.01.22 at 5:39 pm
#162 Old Boot on 12.01.22 at 11:03 am

Listen to yourself.

You watched one video, maybe it actually exists, maybe it’s edited according to an ideologic slant, and made a sweeping generalization about the ability of women to perform in law enforcement.

To do that, you had to ignore the reality of thousands of female police officers satisfactorily performing their duties (and doing it without shooting or tasering every perp), in favour of the one video clip that magically aligned with your confirmation bias.

The only question (well, we all know the answer) is, why would you say something so counter-factual, on such weak ‘evidence’?

Your entire argument rests on one video clip from a TV show. If you’re confident that a single video clip from a TV show is superior proof of your argument that women are constitutionally incapable of performing the role of police officer, in fact superior proof to that of hundreds of thousands of hours of actual women competently performing actual policing duties, well I guess I can only say:

Say it with your whole chest my dude! I’m a blinkered misogynist neckbeard who can’t deal with reality, and I stubbornly cling to comforting lies that protect my fragile male ego!
————

You mad bro? I can see you’re having some trouble staying on point. Here, I’ll make things easier.

I made one singular assertion:

**Men are vastly more powerful than Women physically.**

That’s it. I got no clue where you’re getting all this other stuff, I never said any of it. No need for a meltdown. You can easily go back and verify it.

Try to calm down a bit first though, K homie?

+++++++++++

haha, sure sounds like both you homies are triggered.
maybe take a breather.

#89 Hmm on 12.01.22 at 8:39 pm

@#43 Ustabe on 12.01.22 at 5:06 pm
You know, if you take half of the comments yesterday and substitute the word Jew or Nigerian for the word woman…well just maybe you’d realize how out of touch a large number of you are.

Self defined bubbles to live in I suppose. I feel sorry for the women in your lives, workmates or partners.

++++++++++++++++

The neanderthals were certainly out
in full force on that one.

NOW WAY they have any women in their lives.

#90 Factir2 on 12.01.22 at 9:06 pm

I was watching a video and someone was saying more countries will move away from purchasing oil in the US dollar. That would cause more inflation in the states if that happens. Would that be correct?

Oil is priced in US$. That will not change. – Garth”

Actually Garth, this is not so far fetched. With India and China both ignoring oil price cap against Ruskie oil, they may choose alternative arrangements to settle in, including barter trade, Indian rupees, or a yet to be created oilbitcoin-esque digital currency.

Your comment is awaiting moderation.

#91 crowdedelevatorfartz on 12.01.22 at 9:12 pm

@Faron
“Now, Go do something that re-emphasizes your manliness like pushing the backyard slop around from hither to yon and back again.”
+++

Sez the white collar Climatologist working frum home.

#92 Sail Away on 12.01.22 at 9:16 pm

#84 Faron on 12.01.22 at 8:09 pm

While we are chatting, what’s the death toll on Mt. benson for the day? Figure it’s gotta be a couple few?

—————

Haven’t heard. If you plan an attempt, Search and Rescue lists microspikes or trail crampons as essential winter gear, so be sure to gear up.

Respect the mountain.

#93 crowdedelevatorfartz on 12.01.22 at 9:18 pm

@#80 Just Hoping
“When they don’t go your way, is it the laptop or the hand that gets shown the door?”
++++
Ahahaha.
Good one.
Reminds me of a News show on the CBC National 25 years ago when the internet was just starting to get up and running.
The final comment from a tech geek was,
“Well, this will either be the greatest explosion of information in human history….or a generation of excellent one handed typists………”

#94 Jackie Broome on 12.01.22 at 9:56 pm

Optimism is always welcome, but in fact the truth is rather grisly. That’s why the $C is in free fall and foreign direct investment is “net zero”. Maybe Trudeau is just confused about the climate vs economic story lines and read the wrong talking point about “net zero”. We’re there now on the economy. Hooray !!!

And Vive la Albertana for her straight up guts. Guys, we need more women with political balls who talk truth to power.

#95 I don't know on 12.01.22 at 9:59 pm

#38 Inflation on 12.01.22 at 4:46 pm

There is a large difference between an investory and a speculator.

Your assertion that “real estate will not go up anymore” being followed by your prediction of the spring market, a few months away, renders the prediction invalid. In any market, if someone is looking to make a quick buck and flip, they are rolling the dice.

Long term trends are all still in place.

Regarding interest rates, you may want to check the 10 year treasury over the past few months. Your prediction of unending inflation is not in line with the view of the majority of market participants.

IDK

#96 John in Mtl on 12.01.22 at 10:01 pm

#19 The Great Gazoo on 12.01.22 at 3:55 pm

I like the recent change that allows retailers to charge an extra fee if you use a credit card.

And you don’t think that many/most retailers have already factored in that fee in their prices and have been doing so for years already? I got a bridge in Brooklyn to sell… you know the story.

There are very few retailers that advertise a price for credit card purchases and another (lower by 2-3%) price for cash/debit transactions.

#97 Sail Away on 12.01.22 at 10:14 pm

For anyone skeptical about electric vehicles, watch the Tesla delivery presentation. Amazing. 500 miles one charge, no slowdown up grades, no braking downgrades- pure regen, efficiencies everywhere, fast charging. Truly astounding. I’d be interested in feedback particularly from IH, Nonplused, Shawn, NoName, DonG, Dr V, AMinPM and others with experience in power & delivery.

https://youtu.be/LtOqU2o81iI

#98 fishman on 12.01.22 at 10:14 pm

Pay with Gold. Gold’s starting to buck. Maples are $2550 to buy & $2400 to sell. One of Reagan’s kicks booting in the Soviet Union’s rotten centralized economy was denying them access to FX. The U.S. drove gold down to U.S.$330 & oil to U.S.$18. U,S.S.R.’s top two means of getting hold of U.S.$ were Gold & oil. Gold, I can’t help it. I love the special yellow metal. The dull clunk it makes banging against one another. A sailor or fisherman is really just a wannabe pirate.

#99 Bad science on 12.01.22 at 10:41 pm

#84 Faron on 12.01.22 at 8:09 pm
#9 Sail Away on 12.01.22 at 3:28 pm

While we are chatting, what’s the death toll on Mt. benson for the day? Figure it’s gotta be a couple few?
_____________________________
Sailo said “95% will be fine”, you, a supposed scientist, translated that to “5% will be seriously injured or die.”
That’s not how anything works.
the other 5% could be
4% slip with no injury
0.99% slip with a minor injury
0.009% slip with moderate injury
0.0009% slip with major injury
0.00001% die
And that is just an example, I’m not going to make a wild assumption nor speak for Sailo, whose statement seems factually correct.

Also, who do you think you are scoring points with pushing so hard against a safety tip?

#100 Faron on 12.01.22 at 10:43 pm

#92 Sail Away on 12.01.22 at 9:16 pm

microspikes or trail crampons as essential winter gear, so be sure to gear up

Yes, putting devices on your feet that encourage snow clumping on days when the 0 degree isotherm is mid “mountain” is brilliant advice. Totally safe. A great plan.

https://youtu.be/kYLEf3GHsWo

#101 Dr V on 12.01.22 at 11:06 pm

OK, a little googling from yesterdays post where we read that

“…77% of Canadians have investments, only 21% are women and 79% are men.”

https://www.newswire.ca/news-releases/majority-of-canadians-are-investing-but-many-still-prefer-cash-savings-824362410.html

“According to the annual BMO RRSP Study, while 77 per cent of Canadians have investments, Canadians are nearly split when it comes to investing their savings (53 per cent) or keeping them as cash”

I have not been able to locate this study

https://www.wealthprofessional.ca/news/industry-news/which-countries-have-the-largest-share-of-female-investors/360127

“In Canada, there is a clear gender gap with men making up 79% of investors compared to just 21% that are women.”

The full report is at: https://brokerchooser.com/education/investing/how-countries-invest

NOTE – I could not load this report.

So two different sources it appears, but Tatiana just linked them so that it read in one stream.

One explanation – just because one has investments does not make one an investor. If hubs invests for wife, then she has investments but he is the investor.

When quantitative doesnt work, look for qualitative.

#102 IHCTD9 on 12.01.22 at 11:21 pm

#86 Old Boot on 12.01.22 at 8:24 pm

And how many male cops have failed to single-handedly take down suspects and required the assistance of their m or f partner? Does this reflect on the abilities of all male cops?

You tried to make female cops look incompetent and ineffective based on one incident from a TV show.

When I pointed that out, you resorted to gas-lighting. A tactic many abusive men resort to when their shitty behavior is pointed out.

Hetero chicks let so much of this crap slide for sake of domestic calm that men think none of us notice when they try to gaslight us for our perfectly accurate perceptions of their misogyny.

Not gonna work here, homie
———-

Let’s have a look at my original post:

“#133 IHCTD9 on 12.01.22 at 12:25 am

[Story about vid]

It’s pretty scary how many folks discount the ultra-massive physical power difference there exists between Men and Women these days. Hopefully, not too many Ladies out there have bought into this.”

Go back and check it if you think I’ve modified anything, it’s a direct C+P. Is there anything in that paragraph beyond the assertion that Women are vastly, super, insanely, inferior to Men in the physical strength department? Is this assertion even something you’d like to challenge? Dude, it’s a fact. Can’t be argued.

C’mon bro, you gotta be smarter than this.

#103 Balmuto on 12.01.22 at 11:22 pm

“#4 kommykim on 12.01.22 at 3:15 pm
Interesting article about the variable rate mortgages held at scotia bank. Look like the wheels might stay on the cart a bit longer much to the chagrin of the doomers:

https://www.canadianmortgagetrends.com/2022/11/the-variable-customer-is-in-good-shape-says-scotiabank/“

Thanks for sharing the article. I’m very curious about this part:

“He added that the bank is “having lots of conversations about cash flow management” with its clients, but that, overall, the creditworthiness of its variable-rate customers is higher compared to their fixed-rate counterparts. Variable mortgage customers maintain approximately 36% higher balances in their deposit accounts compared to fixed-rate customers, the bank noted.”

I find this very hard to believe. Why would adjustable-rate borrowers have higher credit than fixed-rate borrowers? Especially now that their interest payments have gone up fivefold while fixed rate borrowers are mostly still paying the much lower rates that they locked in?

And why would they have more left over in their deposit accounts when so much more of their money is going towards interest?

There may an explanation for all this, but the banking rep didn’t give one. It all sounds fishy to me.

#104 Sail Away on 12.01.22 at 11:32 pm

#100 Faron on 12.01.22 at 10:43 pm
#92 Sail Away on 12.01.22 at 9:16 pm

If you plan an attempt, Search and Rescue lists microspikes or trail crampons as essential winter gear, so be sure to gear up.

Respect the mountain.

—————

Yes, putting devices on your feet that encourage snow clumping on days when the 0 degree isotherm is mid “mountain” is brilliant advice. Totally safe. A great plan.

—————

Clearly, you are smarter than everyone else. Carry on.

#105 IHCTD9 on 12.01.22 at 11:33 pm

#83 Faron on 12.01.22 at 8:01 pm
#57 IHCTD9 on 12.01.22 at 6:14 pm
#44 crowdedelevatorfartz on 12.01.22 at 5:17 pm
@#8 Old Boot

Most folks understand where the line is.

Ha! Rich coming from you. BTW, when your position gets whittled down so much by a person with way more insight than you such that you have to scream “I WAS JUS SAYIN’”. You’ve lost.

Take the L tractor.

Take a deep breath.

Now, Go do something that re-emphasizes your manliness like pushing the backyard slop around from hither to yon and back again
– ——

Yep. I always know I’ve won when a guy who was doing overtime ripping ‘Boot a new one on her trans-Women views steps in to her defence.

You lefty goofballs are your own worst enemy.

#106 kommykim on 12.02.22 at 12:02 am

RE: #103 Balmuto on 12.01.22 at 11:22 pm
I find this very hard to believe. Why would adjustable-rate borrowers have higher credit than fixed-rate borrowers?

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

In the following I’ve talking “on average”. I’m sure there are outliers in both scenarios:

I think it’s because someone who chooses an adjustable-rate is more likely to keep a stash of cash on hand to deal with unforeseen expenses.
Whereas the person who goes for the fixed rate is usually the type who spends all of their paycheque no matter how much they make.

This quote from the article sums it up:
“As we look at the liquidity position of checking and savings accounts combined in the variable customer balances that are with us, we see well over a year’s worth of excess liquidity to absorb payment increases of $200, $300, $400 per month,”

#107 Faron on 12.02.22 at 12:12 am

#99 Bad science on 12.01.22 at 10:41 pm

Also, who do you think you are scoring points with pushing so hard against a safety tip?

My aim is unipolar — points in this comments section are meaningless. This also isn’t science so much as revealing Sail Away’s rhetorical dumpster fire.

Slipping counts as fine especially given that Sail Away alluded to slowness which would mean a little bit of slip slidey. Not fine, the 5%, is an injury, AKA a morbidity all the way to death as was discussed by Dr V and others. That’s 5% for someone capable. Think of everyone else! Must be a blood-slicked WI4 ice smear into jagged boulders.

Or Sailo is full of sht.

Now, I know his 95% was a spitball figure he didn’t give half a thought to. With almost anyone I care about I would let it slide or say “well, that seems a little extreme, what do you mean by that?”. But, for Sailo, I’m giving him a dose of his own medicine. I’m extrapolating from it, wilfully mischaracterizing it and hammering him with it because he continually, constantly has done the same to me.

He has made it clear he has taken those extrapolations and dishonest misrepresentations (about science, stalking, mental health and other character attacks) to the IRL world and people we likely know in common — this is defamatory amd had real and damaging consequences. All because his lil’ panties are in a twist.

I have done no such thing to him. My actions as they relate to Sail Away IRL are limited to Steerage.

Finally, telling someone to add gear is not a safety tip when that gear has potential negative consequences! By analogy: is a safety rail that’s hanging by a thread of steel wire with tensile strength of 50lbs providing any safety? It looks like it is and it might stop a light lean. But it isn’t at all a help when it matters (this relates directly to sailboats where corroded steel wire can lead to failure. It’s why my boat’s rails are hand-spliced dyneema). Promoting trail crampons to prevent a bad slide is exactly analogous. They are designed for and limited to flat to rolling terrain. Dr V territory.

#108 IHCTD9 on 12.02.22 at 12:21 am

#97 Sail Away on 12.01.22 at 10:14 pm
For anyone skeptical about electric vehicles, watch the Tesla delivery presentation. Amazing. 500 miles one charge, no slowdown up grades, no braking downgrades- pure regen, efficiencies everywhere, fast charging. Truly astounding. I’d be interested in feedback particularly from IH, Nonplused, Shawn, NoName, DonG, Dr V, AMinPM and others with experience in power & delivery.
———-

I’m in the “I’ll believe it when I see it camp”. Forgive me, I’m a “show me, don’t tell me” type of dude. Personally, I feel electric vehicles are the future, but we aren’t quite there yet. TESLA is working with current battery tech. I don’t think it’s good enough at this point. That said, TESLA will undoubtedly be right on it when the breakthrough comes. And it will.

I admire Musk’s future vision, that’s where his fortune was made. He seems to have a good forward view.

For now, I take the promises with a grain of salt. But, also with the the understanding that if a breakthrough happens, Musk will undoubtedly be in a primo position to exploit it. This is the nature of the beast – laying bets on human ingenuity.

We’ll see how he does, and I wish him the best of luck!

#109 Nonplused on 12.02.22 at 12:45 am

#97 Sail Away on 12.01.22 at 10:14 pm
For anyone skeptical about electric vehicles, watch the Tesla delivery presentation. Amazing. 500 miles one charge, no slowdown up grades, no braking downgrades- pure regen, efficiencies everywhere, fast charging. Truly astounding. I’d be interested in feedback particularly from IH, Nonplused, Shawn, NoName, DonG, Dr V, AMinPM and others with experience in power & delivery.

https://youtu.be/LtOqU2o81iI

———————————-

Well, you mentioned me by handle, but I ain’t gonna watch a 1 hour video! Thanks for the summary though.

My take on electric cars is often misconstrued. I don’t have a problem with them. If you want one, buy one. I don’t see them as fundamentally different than my battery powered hand tools, of which I have a number with swappable batteries. There is practically nothing more handy than a cordless drill. First power tool anyone should own.

But that said, if you have some serious work to do, you have to go corded or gas. Corded tools generally have more power, are faster, and don’t run out of juice. Gas tools are all of the above but can be “recharged” in minutes as opposed to hours.

(You can, in theory, run a small welder for example on some of these large power stations like a large Jackery. For a few minutes.)

The main problem I see with the Tesla semi is going to be the range and recharging. 500 miles is not great for a long haul truck. It might be ok if the truck can recharge overnight at truck stops. But what about trucks that run with 2 drivers? 500 miles and then an 8 hour charge time isn’t going to work. And the power demands of recharging them will be substantial. Much larger than a car.

But that said, they probably have a place. 500 miles will be lots for in town deliveries, or even in province/state. Logistics companies will be able to replace large portions of their fleets with these if they so chose. Since they generally park the trucks overnight anyway, charging will be no problem. They have to invest in their own charging stations though. But that’s doable. And solar panels won’t help unless we can do all the trucking at night and charge in the day. So, nuclear. (I had to throw that in.)

It will take a lot of power and batteries though. But they have a role.

So to be clear, I am not against electric vehicles. For certain applications they are great. But they aren’t going to eliminate gas vehicles any time soon. We’ll see both on the road.

—————————–

The one thing I don’t get is all the fuss about electric trains running on either batteries or hydrogen. Why? Good Dog why? Just put up some power lines like they have all over Europe. If Russia managed to electrify the Trans-Siberian railway, certainly we can electrify a good many of our rail lines. Then you could have electric trains for long haul, electric trucks for short haul, and only need diesel for hotshot service.

The future isn’t just in “new technology”. Some of the old technology will help too. We just have to look at how we implement it differently. Electrifying every single siding probably doesn’t pencil out, but I think the mainlines would. And we have the technology right now. Have had it for years.

PS. Electric trains can also use regenerative braking. They can just put the power back on the wire for a different train to use. No batteries.

#110 Gravy Train on 12.02.22 at 6:11 am

#101 Dr V on 12.01.22 at 11:06 pm
OK, a little googling from yesterdays post where we read that

“…77% of Canadians have investments, only 21% are women and 79% are men.” [etc.]

Weren’t you surprised at so much base rate neglect from the steerage section? I was.

Israeli-American psychologist, economist and author (Thinking, Fast and Slow) Daniel Kahneman was right that base rate neglect is pervasive.

#111 604sam on 12.02.22 at 6:44 am

I liked Tatiana’s article yesterday. I didn’t end up reading the comments though.

I kinda stopped reading the comments once DSM died. I do poke my head in occasionally. But I felt like the comment section died with him. And I’m cool with that.

Not everything on the internet needs a comment section. Usually it’s the most impulsive, angry people who are motivated to comment.

Just my 2 cents.

#112 Bezengy on 12.02.22 at 7:25 am

#97 Sail Away on 12.01.22 at 10:14 pm

Another question……
————————–

I see a lot of opportunity to build electric car charging stations along our highways, especially in remote areas. There are plenty of water sources that can be tapped into do produce a substantial amount of power. My question would be is why would any of these charging stations have to be grid tied?, which adds significant cost and complexity to the construction. Seems to me a standalone station running off a small water source, or other source such as solar could be built relatively less expensive than a grid tied in system.

#113 crowdedelevatorfartz on 12.02.22 at 8:09 am

Gee.
Apparently its not just Liberal govts wanting more billions to prop up the flagging real estate sector….

https://www.reuters.com/world/china/chinas-top-banks-issue-offshore-loans-help-developers-repay-debt-sources-2022-12-02/

Communists and Liberals …..seem to have gone to the same school of ‘Bad loans are good loans “economics.

Anyone( excluding the Ontario Teachers Pension Plan crypto cowboys) want to loan money to the Chinese development sector?
Anyone?

#114 Dharma Bum on 12.02.22 at 8:33 am

I was surprised to see Tesla charging stations installed in every Holiday Inn Express motel that I’ve stayed over at driving back and forth to Arizona from Ontario.
I drive an old fashioned Subaru, but it’s interesting to see the number of electric vehicle charging stations that have popped up in shopping plaza parking lots and hotel parking lots since 2019 – the last time I did the cross country drive.
Of course it’s a drop in the bucket, but it’s a sign of things to come.
By 2050, half the vehicles on the interstate system will be electric and the infrastructure will be there to support them.
However, the only food available will still be McDonalds, Subway, and hot dogs off the rollers at Love’s truck stops.

#115 millmech on 12.02.22 at 9:30 am

Expecting the US Federal Reserve to raise rates75 basis points at the next announcement.
http://www.msn.com/en-ca/money/markets/payrolls-and-wages-blow-past-expectations-flying-in-the-face-of-fed-rate-hikes/ar-AA14PknN?ocid=msedgntp&cvid=e1c8cb55785a4620a4961b1d6c6626cf

#116 BitcoinBro on 12.02.22 at 9:40 am

Way too early to declare victory on inflation.

USA labor market still red hot and the big oil cartel is going to slash production.

Powell talked a lot about the labor market disparity being demographic driven. That’s a problem not fixed by interest rates that are still pretty cheap historically. Main Street businesses still need employees at the end of the day regardless of the macro outlook and there’s not enough of them because COVID has taken a lot of 50+ year olds out of the game entirely.

#117 IHCTD9 on 12.02.22 at 9:47 am

Just talking with a supplier, he can’t find employees. His story is the same as what happened at my employer. The old guys sold the house during the pandemic for big bucks, bought a house out East, and retired. No young ones coming in the door to fill their shoes.

Shortages all over. Trades people, Mechanics, Warehouse workers, equipment operators, retail/hospitality. Plenty of IT professionals and dentists to go around – just don’t try to find a Fork Truck operator.

Government says we can expect 5 million more retirees over the next 7-8 years. Economic Immigration will barely cover this after losses, and even then – these folks won’t be looking to drive a truck for a living. I guess we’re banking on an onslaught of Student Visas PR’s to fill these regular non-white collar jobs.

Man, the changes here are going to be unbelievable in 10 years.

#118 Pbrasseur on 12.02.22 at 10:01 am

Counting your chickens before they’re hatched are you?

As for Tiff he encouraged massive debt slavery by stating interest rates you stay low for a very long time. That is a fireable offense to say the least.

Anyway is only a little recession I would be interested to know where the growth will come from…

#119 millmech on 12.02.22 at 10:26 am

Seeing more and more of this.
https://www.reddit.com/r/wallstreetbets/comments/zae684/history_rhymes_in_real_estate/

Irrelevant. – Garth

#120 Hmm on 12.02.22 at 10:46 am

@#104 Sail Away on 12.01.22 at 11:32 pm
#100 Faron on 12.01.22 at 10:43 pm
#92 Sail Away on 12.01.22 at 9:16 pm

If you plan an attempt, Search and Rescue lists microspikes or trail crampons as essential winter gear, so be sure to gear up.

Respect the mountain.

—————

Yes, putting devices on your feet that encourage snow clumping on days when the 0 degree isotherm is mid “mountain” is brilliant advice. Totally safe. A great plan.

—————

Clearly, you are smarter than everyone else. Carry on.

++++++++++++++++++++

can you bozos just move on already

#121 Faron on 12.02.22 at 10:55 am

#105 IHCTD9 on 12.01.22 at 11:33 pm

So, demonstrating intellectual honesty in stating agreement with Old Boot on things I actually agree with her on (roughly 70% of her stated positions) is “losing” in your view? Interesting. Hey, at least you are consistent as one who is dishonest enough to lump every perceived ill in Canada onto Trudeau’s doorstep.

You are outclassed by her full stop.

Life hack: don’t treat everything as a binary or black and white.

#122 Sail Away on 12.02.22 at 11:01 am

#107 Faron on 12.02.22 at 12:12 am

This also isn’t science so much as revealing Sail Away’s rhetorical dumpster fire.

Slipping counts as fine especially given that Sail Away…

Or Sailo is full of sht.

…for Sailo, I’m giving him a dose of his own medicine. I’m extrapolating from it, wilfully mischaracterizing it and hammering him with it

All because his lil’ panties are in a twist.

My actions as they relate to Sail Away…

—————

It is totally clear that you’re, like, totally stable. Thank God our kids are grown.

#123 Don Guillermo on 12.02.22 at 11:15 am

#97 Sail Away on 12.01.22 at 10:14 pm
For anyone skeptical about electric vehicles, watch the Tesla delivery presentation. Amazing. 500 miles one charge, no slowdown up grades, no braking downgrades- pure regen, efficiencies everywhere, fast charging. Truly astounding. I’d be interested in feedback particularly from IH, Nonplused, Shawn, NoName, DonG, Dr V, AMinPM and others with experience in power & delivery.

https://youtu.be/LtOqU2o81iI

#########
Interesting technology. I struggle to see how EVs in general can scale up but they did briefly mention nuclear which would obviously help. The electric drive motor the size of a football was impressive as well as the vehicle having 4 times the power of a conventional diesel. My video accidentally rolled to the next with an interview with Musk. They mentioned how he didn’t patent his technology and was happy to share with competitors. His goal was for everyone to go EV.

#124 Mattl on 12.02.22 at 11:18 am

#96 John in Mtl on 12.01.22 at 10:01 pm
#19 The Great Gazoo on 12.01.22 at 3:55 pm

I like the recent change that allows retailers to charge an extra fee if you use a credit card.

And you don’t think that many/most retailers have already factored in that fee in their prices and have been doing so for years already? I got a bridge in Brooklyn to sell… you know the story.

There are very few retailers that advertise a price for credit card purchases and another (lower by 2-3%) price for cash/debit transactions.

——————————————————–

That’s because cash discounting violates the card networks TOS.

I get that merchants are frustrated by costs to accept cards but there is a real service being provided. Card based average transactions are higher for one. And part of the fee covers cardholders in the case of a merchant going under before a service is delivered. It’s a complex space and if a merchant doesn’t want to play, go 100% cash, in store purchase only, let me know how that goes. Lose 30% of you customer base to save 3%, well played.

A smart merchant is leaning in to all of the opportunities presented by digital transactions. Retailers have never had as many opportunities and channels to sell through and most of these breakthroughs aren’t possible without V and MC. Look no farther then Interac to see a card scheme that while cheap to accept, parties like it’s 2005.

#125 Diamond Dog on 12.02.22 at 11:22 am

Some kind of Ukrainian peace. – Garth

You know my position on commodities, I still think there will be broad strength overall related to the war in Ukraine meaning Canada is likely to face recession as the U.S. slips into recession, but it won’t be as bad as what the U.S. faces. I’m not positive concerning U.S. markets at all. They bloated their money supply to worse extremes than our own and will ultimately pay for it through a recession by way of continued higher Fed rates fighting off inflation.

That said, a $$$ update concerning Ukraine.

https://www.msn.com/en-us/news/world/eu-proposal-would-send-proceeds-of-frozen-russian-funds-to-ukraine/ar-AA14KpXg

As some may not be aware, back in March, U.S. initiated sanctions froze some $ 300 billion from Russia’s CB international trade account. A breakdown of most of this money frozen in March is found below:

https://www.nbcnews.com/data-graphics/russian-bank-foreign-reserve-billions-frozen-sanctions-n1292153

Ukraine is seeking $ 300 billion in damages in international courts as of September, but that number will grow as damages mount. The UN general assembly recently approved a resolution, even though it’s not currently binding, for Russian war reparations to Ukraine:

https://www.cbc.ca/news/world/un-general-assembly-russian-reparations-1.6651004

To recap, there is some $300+ billion in frozen assets that are likely to be awarded in the future to Ukraine as compensation for war damages, but this number will grow.
We can see how the stakes are rising financially. Ukraine is fighting for it’s existence as a nation, while Russia is fighting to destroy it. Only through the destruction of Ukraine does Russia have a chance of winning in the courts, or so Russia might think but it really doesn’t matter what Russia thinks, for Russia is not an island.

Just wanted to mention, rural Russia widely supports Putin due to influences of state TV (that’s all it is in Russia now). It’s not their fault really, for the most part we only know what we are being told. In the cities, support for Putin and his war fades into a blend of yea/nay due to a more informed base from the internet with lives more impacted by the war.

If readers want a taste of crazy (crazier than usual on this site), check out the nutter narratives of Russian state TV. It’s not much different than Rwandan media hate speak before the Rwanda genocide (dehumanization, etc.). It really is something to think about:

https://www.youtube.com/@russianmediamonitor

#126 Ponzius Pilatus on 12.02.22 at 11:27 am

#114 Dagmah
By 2050, half the vehicles on the interstate system will be electric and the infrastructure will be there to support them.
However, the only food available will still be McDonalds, Subway, and hot dogs off the rollers at Love’s truck stops
—————————
Always the “0ptimist” aren’t you?
But by that time, food will not be an issue.
Getting an oxygen mask will be.

#127 Brian on 12.02.22 at 11:27 am

Four high-profile journalists gathered in Toronto on Wednesday to debate the trustworthiness of the mainstream media and Canada’s trucker protests provided a ready-made case study.

The results of the Munk Debate, which was held at Roy Thomson Hall, suggest there is a growing skepticism of the media and its ability to cover big issues.

https://thehub.ca/2022-12-02/canadas-trucker-protests-feature-in-munk-debate-on-trust-in-media/

#128 Mattl on 12.02.22 at 11:32 am

#121 Faron on 12.02.22 at 10:55 am
#105 IHCTD9 on 12.01.22 at 11:33 pm

Life hack: don’t treat everything as a binary or black and white.

————————————————

That’s rich coming from a guy that has been arguing crampons for two week.

Here is a life hack – Arguing online with rando’s is loser behavior, stop.

#129 Dr V on 12.02.22 at 12:01 pm

110 GT

“Weren’t you surprised at so much base rate neglect from the steerage section? I was.”
———————————————–

In this case I believe the base rate would be the overall 50/50 gender split of the Canadian population. Even
with self-identification, that must be very closely held.

So yes, I was surprised at those who couldnt figure out that strictly applying the two other rates resulted in a Canadian population that was 61% male.

Perhaps just wishful thinking for some.

#130 Dr V on 12.02.22 at 12:08 pm

97 Sailo – thank you for valuing my opinion, but unfortuneately, I have placed “All things Musk” on my dis-engagement list due to their triggering emotional
responses from certain parties.

I still hope to review the video though.

Non-plused has given his thoughts, and I may have some of the same concerns.

#131 Shawn on 12.02.22 at 12:10 pm

Credit Card Duopoly / Monopoly and fees

#96 John in Mtl on 12.01.22 at 10:01 pm
#19 The Great Gazoo on 12.01.22 at 3:55 pm

I like the recent change that allows retailers to charge an extra fee if you use a credit card.

And you don’t think that many/most retailers have already factored in that fee in their prices and have been doing so for years already? I got a bridge in Brooklyn to sell… you know the story.

There are very few retailers that advertise a price for credit card purchases and another (lower by 2-3%) price for cash/debit transactions.

*******************************
Well, that’s the problem those who pay by cash, debit or regular credit cards are subsidising the reward fees for those with gold cards if you are right that the price reflects it.

The credit card companies had strict rules that retailers were not allowed to offer discounts for cash or point their customers to pay another way. This may have changed with the new rules.

Trust me, I know a bit about this.

Whoever is losing on credit card fees, clearly the credit card companies and banks and investors in those are the winners.

#132 Ponzius Pilatus on 12.02.22 at 12:15 pm

127 Brian on 12.02.22 at 11:27 am
Four high-profile journalists gathered in Toronto on Wednesday to debate the trustworthiness of the mainstream media and Canada’s trucker protests provided a ready-made case study.

The results of the Munk Debate, which was held at Roy Thomson Hall, suggest there is a growing skepticism of the media and its ability to cover big issues.
———————-
They needed a “Debate” to “suggest” that there is a “growing” scepticism of the and its ability to cover big issues?
“Growing”?
That thing is already a fully grown Monster.

#133 Dr V on 12.02.22 at 12:18 pm

100 Faron

Though I placed “trail crampons” on my dis-engagement list (which also includes all things Elon) I see that these are the model I have, and you refer to my use of them in a later post.

The youtuber was trying to show when not to use them, or at least highlight the issues. Oh look he has a pole too.

The conditions he was in were similar to my afternoon walk yesterday, and do not warrant traction devices.
Snow was still packing underfoot, as evidenced by the
crunching sound, and in those places where the snow was lightly packed, my speedcross treads left an identifiable print.

Ideal conditions for these was described in earlier posts.

#134 Ponzius Pilatus on 12.02.22 at 12:18 pm

#126 Ponzius Pilatus on 12.02.22 at 11:27 am
#114 Dagmah
By 2050, half the vehicles on the interstate system will be electric and the infrastructure will be there to support them.
However, the only food available will still be McDonalds, Subway, and hot dogs off the rollers at Love’s truck stops
—————————
Always the “0ptimist” aren’t you?
But by that time, food will not be an issue.
Getting an oxygen mask will be.
——————-
And getting on a rocket outta here.

#135 Faron on 12.02.22 at 12:25 pm

#122 Sail Away on 12.02.22 at 11:01 am
#107 Faron on 12.02.22 at 12:12 am

…our kids are grown…

Didn’t one move to the antipode of your location? Gosh, I wonder why?

#136 Dr V on 12.02.22 at 12:32 pm

100 faron

“…0 degree isotherm is mid “mountain”…”
——————————————————

Mt Benson is still on my discussion list. And a gentle reminder that Maple “Mountain” is only about half the height of Mt Benson.

A freezing level will typically rise during the day and fall after sunset. This introduces an on-going freeze-thaw cycle. Without direct sun, or warmer precip, ambient temperatures just slightly above freezing do little to dissipate snow and ice. All that may happen is a softening of the snowpack, or a top layer melt of the ice for a brief period, then a re-freezing lasting maybe 20 hours. With continued foot traffic, these areas can become more glazed and continue to enlarge. You of course will know this.

This leads to ideal conditions for using traction devices.

#137 There. I FIXED IT FOR YOU. LOOOOL on 12.02.22 at 12:33 pm

Just wanted to mention, urban Canada widely supports TRUDEAU due to influences of state TV (that’s all it is in CANADA now). It’s not their fault really, for the most part we only know what we are being told. In the countryside, support for Trudeau and his war on the middle class fades into a blend of yea/nay due to a more informed base from the internet with lives more impacted by the war against the backbone of Canada.

#138 Bubbles on 12.02.22 at 12:35 pm

#117 IHCTD9 on 12.02.22 at 9:47 am

Government says we can expect 5 million more retirees over the next 7-8 years. Economic Immigration will barely cover this after losses, and even then – these folks won’t be looking to drive a truck for a living. I guess we’re banking on an onslaught of Student Visas PR’s to fill these regular non-white collar jobs.
——————–
IHTCD9
And when has the government got anything right?
People have not done the math yet.
For many it will retirement a pipe dream.
Here’s what’s going on and same in Kanada.

https://www.cnbc.com/2022/12/02/35percent-of-millionaires-say-they-wont-have-enough-to-retire-report-finds.html

#139 Russ on 12.02.22 at 1:11 pm

@97 sail away
@109 nonplused
, et la

Trivial bit, but did you know that North American frieght trains are already electric?
Diesel/electric due to the ability to operate the diesel at best effeciency and provide high torque (electric motor) at low speed to get the whole thing rolling.

The personal EV will really take off if the manufacturers can agree on a battery standard, similar to the industry fuel standard.

Then it becomes feasable to pull into a station, drop the baterry & insert replacement and drive on. Car depreciation will also normalize similar to an ICE vehicle.
Might even be quicker than a fill-up.

An old engineer at work jumped on the EV bandwagon 2 years ago. He was pissed off at having to wait at a charging station for a local to top-up the EV, taking the extra 30 minutes at the charger.
Kinda funny him complaining about someone hogging the free charging station when he is so tight that only a dog can hear him fart.

Cheers, R

#140 Love_The_Cottage on 12.02.22 at 1:19 pm

#131 Shawn on 12.02.22 at 12:10 pm
…that’s the problem those who pay by cash, debit or regular credit cards are subsidising the reward fees for those with gold cards if you are right that the price reflects it.
____
This is true Shawn but only part of the story. The biggest transfer of $$$ is from those that don’t pay their balances every month to the credit card companies. This is obviously much higher than the rewards that are being given out so wins for the companies and for those of us who do pay the balance every month.

#141 Faron on 12.02.22 at 1:21 pm

#133 Dr V on 12.02.22 at 12:18 pm
100 Faron

The youtuber was trying to show when not to use them, or at least highlight the issues

Yes, exactly. You are getting it. The video highlights the fact that “safety gear” can lead to reduced safety (balled up crampons are dangerous) which is a primary reason to not universally recommend something.

#136 Dr V on 12.02.22 at 12:32 pm
100 faron

“…0 degree isotherm is mid “mountain”…”
——————————————————

This leads to ideal conditions for using traction devices

Yes, freeze-thaw ice formation could warrant them when the icy slopes do not present a sliding hazard. Isothermal verglass could still lead to clumping if the verglass is thin. Worse case is verglass that isn’t foot supportive but would support a prone person.

According to Sail Away Mt Benson has severe sliding hazards (“icy luge run” with “open, rocky slopes” and a 5% morbidity rate). For your case walking on icy, rolly trails… perfect.

As I said, Sail Away is full of sht. The reason Nanaimo SAR recommends them is because the mountain is far less extreme than Sail Away wants it to be. The root of this dead-horse flogging is in showing how clownish it is to brag online about a local hike.

Two more things if you are bored:

Strictly speaking, the freezing level is a free-air phenomenon and has little diurnal variation if it is above the PBL. You are still correct that the surface energy balance of a snowpack will vary during the day leading to melt potential even at ambient temperatures below 0.

And, if the mountain truly has a 5% injury rate, eventually traffic will dwindle to zero leading to less icy conditions.

Mt. Tolmie is one tenth the elevation of Mt. Benaon. “ReSpeCT tHe MOUnTaIN”

#142 Faron on 12.02.22 at 1:22 pm

#128 Mattl on 12.02.22 at 11:32 am

Arguing online with rando’s is loser behavior

Are you arguing this?

#143 Quintilian on 12.02.22 at 1:26 pm

#137 There. I FIXED IT FOR YOU. LOOOOL on 12.02.22 at 12:33 pm

Just wanted to mention, urban Canada widely supports TRUDEAU due to influences of state TV (that’s all it is in CANADA now)

That’s just crazy talk

Canadians, for the most part, are intelligent and fair minded.
They observe people like Pepe and Smith, and the choice become clear.

#144 Faron on 12.02.22 at 1:26 pm

*Mt. Benson* not Benaon. LOL.

#145 Sail Away on 12.02.22 at 1:36 pm

#130 Dr V on 12.02.22 at 12:08 pm

97 Sailo – thank you for valuing my opinion, but unfortuneately, I have placed “All things Musk” on my dis-engagement list due to their triggering emotional
responses from certain parties.

——-

Modifying one’s own behaviour to appease intolerant a-holes leads to bad societal outcomes.

I support your freedom of expression and your right to state it. Particularly in regard to such loaded subjects as crampons, Elon Musk, wilderness walks and snow shoveling.

#146 IHCTD9 on 12.02.22 at 2:04 pm

#135 Faron on 12.02.22 at 12:25 pm
#122 Sail Away on 12.02.22 at 11:01 am
#107 Faron on 12.02.22 at 12:12 am

…our kids are grown…

Didn’t one move to the antipode of your location? Gosh, I wonder why?
——

…and it doesn’t get any lower than that.

That’s the bottom.

#147 Outrage on 12.02.22 at 2:07 pm

DELETED (Conspiracy, anti-vaccine nut)

#148 Shawn on 12.02.22 at 2:14 pm

Credit Card monopoly winners and losers

#140 Love_The_Cottage on 12.02.22 at 1:19 pm
#131 Shawn on 12.02.22 at 12:10 pm
…that’s the problem those who pay by cash, debit or regular credit cards are subsidising the reward fees for those with gold cards if you are right that the price reflects it.
____
This is true Shawn but only part of the story. The biggest transfer of $$$ is from those that don’t pay their balances every month to the credit card companies. This is obviously much higher than the rewards that are being given out so wins for the companies and for those of us who do pay the balance every month.

***********************************
That’s true. It’s the banks as opposed to VISA inc and MasterCard that make the interest income. Visa and MasterCard sit at the top of the heap and take no credit risk and are lucrative electronic till booths.

At least the banks are not monopolies. Though they mostly all quietly charge about the same interest with some exceptions. Still, consumers have choice.

And consumers to a large degree do not HAVE to incur interest. But of course when the kids are hungry or you need essentials some people really don’t have much choice even though it will cost them much more in the end.

Larry the retailer has NO REAL CHOICE but to accept those two cards and pay the discount fees.

#149 Penny Henny on 12.02.22 at 2:15 pm

#50 IHCTD9 on 12.01.22 at 5:49 pm
Something going on with Ontario hydro pricing. My bill for last month was barely over 100.00. Nothing has changed as far as usage goes…

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

Most likely your billing period was adjusted

#150 Penny Henny on 12.02.22 at 2:19 pm

#39 Paddy on 12.01.22 at 4:50 pm
#28 Toronto_CA on 12.01.22 at 4:26 pm

I still don’t understand Tatiana’s sentence here:

“According to S&P Global, while over 77% of Canadians have investments, only 21% are women and 79% are men.”

77% x 38,000,000 beavers=29,260,000 beavers
29,260,000x.21=6,140,000 women
29,260,000x.79=23,115,000 men

jeesh
////////////////////////

Paddy let’s just assume there as many females in Canada as men.
Your figures above say there is at least 23,115,000 men in Canada, now if there as many females as males then there would be 23,115,000 females.
Adding the two together would mean our population is 46,230,000, but you said there was only 38,000,000.
What’s wrong with this picture?

#151 IHCTD9 on 12.02.22 at 2:36 pm

#149 Penny Henny on 12.02.22 at 2:15 pm
#50 IHCTD9 on 12.01.22 at 5:49 pm
Something going on with Ontario hydro pricing. My bill for last month was barely over 100.00. Nothing has changed as far as usage goes…

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

Most likely your billing period was adjusted
———

That’s just it, I’m not on equal billing. All year it was 150-170, since ~September, it’s been 120 or less, like a light switch.

#152 Faron on 12.02.22 at 2:45 pm

#146 IHCTD9 on 12.02.22 at 2:04 pm
#135 Faron on 12.02.22 at 12:25 pm
#122 Sail Away on 12.02.22 at 11:01 am
#107 Faron on 12.02.22 at 12:12 am

…our kids are grown…

Didn’t one move to the antipode of your location? Gosh, I wonder why?
——

That’s the bottom.

Worse than Sail Away claiming I caused my mother’s alcoholism? You inventing that I had a twitter full of racist misogyny? Don’t think so bub.

#153 Gravy Train on 12.02.22 at 3:25 pm

#150 Penny Henny on 12.02.22 at 2:19 pm
Paddy let’s just assume there as many females in Canada as men.[…]

Never assume. Statistics Canada provides you the information. Here’s its Web site: https://www.statcan.gc.ca/en/start

Or you can go here:
https://en.m.wikipedia.org/wiki/2021_Canadian_census

#154 Penny Henny on 12.02.22 at 3:42 pm

#153 Gravy Train on 12.02.22 at 3:25 pm
#150 Penny Henny on 12.02.22 at 2:19 pm
Paddy let’s just assume there as many females in Canada as men.[…]

Never assume. Statistics Canada provides you the information. Here’s its Web site: https://www.statcan.gc.ca/en/start

Or you can go here:
https://en.m.wikipedia.org/wiki/2021_Canadian_census
/////////////////

I was just applying the KISS principle