Dr. Garth (AI version)

Time to fire up the ChatGF bot thingy. The following questions are from (presumably) real people, since no AI creation would spend time on a pathetic blog with a canine fetish. Similarly, the responses are authentic, and worth every cent that you have paid to read them.

So here’s Tom, with an old query that suddenly seems new again.

Just wondering if higher interest rates now make it more attractive to fund a mortgage through an RRSP. It didn’t make much sense with low rates, but now?? Hmmmm

Say $300k?? RRSP and other investments still fine so not all eggs in one basket.

While mortgage rates were 2% it made little sense to pull this off. But now with posted rates north of 6%, things have changed.

The rules allow one to hold the mortgage on a house (or other property, even a rental) inside a RRSP. Thus, you pay interest to yourself, not the bank or Harold the Mortgage Guy. In order to pull this off, an arm’s-length intermediary to set up a mortgage account is required, a self-directed RRSP and an understanding that some significant fees are involved. For example, the mortgage must be insured by CMHC. Of course you need enough capital to fund the thing.

Despite the efforts and costs, at 6% the benefit may now outweigh the costs. In fact, if you arrange this as a second mortgage, you can pay yourself (maybe) 10%. How cool would that be?

Next up is Doug. “Love your blog, dog pics, chiselled abs, and stalwart advice,” he writes. (Unlike ChatFake, we get Mandatory Suck-Ups.)

Couple questions about the FHSA: I own a seasonal property, but have rented my principal residence for 10+ years. Would I still qualify for the FHSA? If I transfer the funds from my RSP, does it count as a withdrawal from that account, and be a net neutral transaction? Or can I withdraw from my RSP without penalty and deposit it into the FHSA and get the tax savings?

If I don’t use the money in the future to purchase a house, can I transfer all the money (including tax free growth) back into my RSP and reap more tax savings based on that contribution? I appreciate all the sound advice you have given in the past, and look forward to future blog posts.

First question – maybe. It’s unclear if the CRA will consider a part-time home (cottage) to actually be a PR (since, for capital gains tax purposes, you can designate it as such). The rental is fine – no issue. The definition being used is this: “You, or your spouse or common-law partner (spouse) did not own a qualifying home that you lived in as a principal place of residence at any time in the year the account is opened or the preceding four calendar years.”

As for the RRSP transfer to a FHSA, it happens free of tax. But if you withdraw from the retirement plan before you contribute to the FHSA you’ll face withholding tax and a long wait to see the refund. So, don’t. If no house is bought with FHSA money, you can transfer it back to the RRSP. But no, Doug you greedy dude, it does not earn you another tax deduction. Sheesh.

“Mandatory thank you for everything!” writes Christine. “Seriously!! Recently thank you for breaking down the FHSA :)”

Quick question – I am 99.9% sure this is the case but would love your confirmation. Contributions I made to my RRSP in 2022 ($15000) – I want to confirm that I can claim them in a different tax year? I had part maternity leave last year (so my 2022 income is lower) and this year will be on a second maternity leave starting in the summer but topped up until December (basically a full salary) so would like to claim more money in 2023 taxes instead.

My second quick question, is do we know for the FHSA if you only get the tax return in that year? Or can it be deferred as well like the RRSP? (This will impact where I put additional savings). My husband always maxes out his TFSA, RRSP and will max out FHSA when it can open in April ish. He also gives me some support to put more in my savings especially while on maternity leave – very lucky! Have a wonderful day and I can’t wait to see the daily doggo photo.

Spot on, Christine, and good thinking. Yes, a contribution made to your RRSP can be saved as a claim against taxable income in a future year. Being on mat leave is an example. Or getting a promotion and income boost. Or retiring and commuting a pension with a taxable cash component. The more money you earn in a year the bigger the benefit of the RRSP deposit.

More good news – ditto for the FHSA. Contributions are also tax-deductible and they may similarly be saved and claimed later, if to your advantage. Unlike RRSP room, however, which adds up endlessly and can be used anytime in your life (before age 72), the FHSA carry-forward is just one year. Plus, the plan will expire in fifteen years.

Finally, 36-year-old Phil. More TFSA angst. But a nice MSU.

Thanks so much for your recent post, “How to play the FHSA”, which inspired me recently, and for your sage advice and rippling abs which inspire me long-term.  I’ve emailed in a long-winded fashion in the past — on two occasions you’ve graciously answered — so I’ll try to keep this brief…

With the the FHSA coming soon, but without the ability to maximally contribute to both, would it be wise to consider opening one up and switching my focus/strategy from my TFSA to the FHSA (for the tax benefits)?  Or is this simply sacrificing one focus to adopt another and complicating things unnecessarily? Thank you so much for everything you do.

TFSA contributions don’t gift you a tax break. But in retirement this sucker can generate routine income which is not only untaxed but will never count as income that could reduce government pogey payments. So, you need a fat TFSA. However, you’re three decades from the end of work, you want a house, and the FHSA will give you tax relief, tax-free growth and a taxless withdrawal to help get some real estate (that can give profits free from tax). Too sweet to pass up.

As a short-term strategy (the next five years or so), I would chunk your cash into the FHSA, trying to make the maximum contribution. You can always use the tax refund to feed your TFSA along the way.

Chatboy out. Amazons beckon.

About the picture: “When we fell in love with Truman (here 5 months old) our Vet was clear… Bulldogs were a perfect storm of health problems, pet insurance a must!,” writes Don, in Edmonton. “So with eyes wide open we embraced him in our lives for almost 10 wonderful years.  The Vet and Truman became close friends month after month, after month!!   Appreciate your daily wisdom and advice – it has helped keep our “eyes wide open” conducting our personal finances.”

59 comments ↓

#1 Joe Lalonde on 01.20.23 at 1:59 pm

You certainly have a different definition of cash than I do…
How is in hand different from someone else still controlling it and you need to still request it to get it?
Banks hate issuing cash as they need to make and order it.

#2 Dr V on 01.20.23 at 2:28 pm

“Spot on, Christine, and good thinking. Yes, a contribution made to your RRSP can be saved as a claim against earned income in a future year.”
——————————————————-

In my last filed tax year (2021) I made a considerable RRSP contribution from my earned income. My
accountant did not show the full amount as a deduction.
I told him he screwed up, as I did not plan on any “earned” income in 2022.

He explained that all was good, as the contribution had been made in a year with earned income, and that the
remaining deduction could be used against taxable
income from any source in the future, not just “earned’ income.

#3 ogdoad on 01.20.23 at 2:29 pm

oooooh Amazons…when I think of Amazons I think of tall blondes…

when I think of tall blondes…I think I’ll take a cold shower.

Happy Day 5!

Og

#4 chalkie on 01.20.23 at 2:34 pm

The debt ceiling in the United States has reached a dangerous level, how will this affect you here in Canada? The Republicans and the Democrats are so far apart that they cannot even agree on what to have for lunch today, it will not be a rosy picture for us Canucks, the United States is our biggest trading partner, so what do we do with our manufacturing sector at the point of a slowdown or recession in the US, when our customers go away.

We would love for the Republicans and Democrats to reach a resolution and avert a catastrophe. But there is no guarantee that this will happen, especially with how they are playing cat and mouse with each other.

If the US credit rating gets downgraded, all we can do in Canada is pray, we are very very vulnerable to everything that happens in the US.
The US house speaker Kevin McCarthy was held up by his own Republican party until he agreed to cutting spending in an aggressive way. The difference now being debated for the Debt ceiling, currently it’s more than doubled then what it was back in 2011, more than doubled by the way, in a few short years.

With the Democrats arguing that they will not agree to spending cuts and the Republicans arguing that they will not agree to the continued spending and the Republicans are determined to put the brakes on spending, let us see who blinks first, maybe neither one of them. If the chickens come home to roost, so goes the stock markets and everything attached to it like a metal basket in a pond, to the bottom.

Its wise to keep a fair portion of your money in cash, consider it the rainy day, the United States mess will drag itself out with multiple peaks and valleys over the next six months, there will be many buying opportunities for the markets caused by fear.

Our leaders here in Canada tell us that we are well positioned to weather the storm. I am not so optimistic on their views, it’s better to be over prepared then underprepared. You need to start reining in your spending. For a US default, it would be almost an instant recession for Canada, our GDP would drop like a stone from the CN Tower, layoffs, shut downs, cutbacks all connected to our household.

Slowdowns in other parts of the world will hurt our economy also, look around and evaluate, we are all grown ups and make our own calls. If we even get a slowdown, we do not need a recession to trigger house price crashes, it would be painful for the foreseeable future until we get ourselves out of the hole again, “you know it”, more and more government spending to break water.

Maybe it’s not important to you, but Layoffs have already started to take root in some sectors such as tech and others, with major names including Amazon, Meta, Microsoft, FreshBooks, wayfair, Thinkific, Revelate, Bridgit, coinbase, carta, Shopify, etc. etc. are going through deep cuts in recent months/weeks/days. I never include Twitter, it’s a different kettle of fish. Read the news and pay heed to your family’s needs should you need to conserve, only you know your own finances.
People say what they hear, and with economic conditions deteriorating and financial pressures tightening around Canadian households, consumers do not care whether economists use the word recession or not, savvy consumers already know their surroundings of pressure signs.
My crystal ball tells me, 2023 is going to be a challenging year for our country. Regardless of what happens outside of our borders, we are already rolling in mud.

Quote of the day: Do not save what is left after spending, but spend what is left after saving.

#5 mitzerboyakaQueencitykidd on 01.20.23 at 2:42 pm

The days are getting longer
The pendulum is slowly swinging back

It’s a good day to say
dogs are great
beers good

#6 American House Buyer on 01.20.23 at 2:49 pm

DUMP YOUR OVERPRICED CANADIAN HOMES AND CONDOS AND BUY THIS FOR YOUr ESCAPE EVERY FALL AND WINTER. BE A FREELOADER IN CANADA THE OTHER HALF OF THE YEAR. ENJOY YOUR MONEY BEFORE YOU CROAK.
https://oldhousesunder100k.com/circa-1959-pensacola…/…

#7 Dolce Vita on 01.20.23 at 2:52 pm

StatCan reported their Seasonally Adjusted (stats smoothing modified) Frankenumber for Retail Trade Sales Nov 2022:

-0.1%

and then proceeded to BS about their Frankenumber:

https://www150.statcan.gc.ca/n1/daily-quotidien/230120/dq230120a-eng.htm?HPA=1

They also publish the actual numbers (Unadjusted). Calculated it and Nov 2022 came out to be:

+2.5%

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2010000801
[select Unadjusted from the drop down menu, click Apply]

Historically, since 2002 these have been the average Retail Trade Sales incr/decr:

Nov +0.7%
Dec +10.7%
Jan -24.8%

So, the +2.5% (the actual number) is pretty darn good, well above average.

StatCan Flash Estimate Frankenumber for Dec 2022:

+0.5%

which you know, according to Retailers Dec is their biggest month of the year, everyone knows that as they spend like crazy that month on gifts, parties, travel, etc. and we’re supposed to believe it only went up by about 1/2 a percent?

The problem here as I see it is that Gov afraid Cdns are stupid and will panic at the REAL or ACTUAL numbers (like Jan will be very -‘ve imagine that?).

I mean, come on.

Stop using the Frankenumbers StatCan, you have the real, actual data – report it!

Of course, the brain dead MSM buys it all hook, line and sinker adding more BS to StatCan’s BS:

https://www.bnnbloomberg.ca/retail-faces-headwinds-despite-stronger-than-expected-november-sales-consultant-1.1872829

Talk about misinformation.

I’m happy about the Unadjusted Nov 2022 number as an investor. The Cdn Consumer is alive and well despite all the bellyaching about rates and inflation. They have not lost their willingness to spend and, apparently, continued to do so in Dec (probably a lot higher that 1/2%).

And THAT is a good thing.

—————

Not happy that I have to calculate the correct number for myself to get at the truth, are you listening StatCan?

#8 teddy on 01.20.23 at 3:13 pm

Garth I read up on holding a mortgage in your RRSP. An arm’s length mortgage is one where the borrower is of no relation to you. I think I would fail that definition if I would lend to myself. There is a non-arms length mortgage which is the exact same thing and can be used for your own property.
According to Canada Western Trust https://www.cwt.ca/-/media/cwt/documents/Misc/501-NALMPackage-FLAT.pdf
It needs to be a new house.
It seems the last time your blog covered this in around 2017 people mentioned the rules changed. It says on the form must be new not refinance. Now a renewal isn’t a refinance but they have not definition. Can someone use a non-arm’s length mortgage for a renewal? I am asking for a coworker. Also can they use an arm’s length for themselves since it doesnt have same restriction?

Yes, you can hold a mortgage on your own home. The ‘arm’s-length’ portion refers to the enabling institution. – Garth

#9 ogdoad on 01.20.23 at 3:21 pm

#6 American House Buyer on 01.20.23 at 2:49 pm

:|:|:|:|:|

Dude, I’d have to know who died there first and if there’s been an exorcism performed.

But, ya. Cute.

Og

#10 chalkie on 01.20.23 at 3:30 pm

#6 American House Buyer
Homework required.
Before rushing out and buy US property, you should speak to a couple of people who have been down that road and decided to sell later, as Canadians become the dominant force in international purchases of U.S. real estate, they must be mindful of the special tax issues that apply to their investments.
The tax rules regarding cross-border investments are complex, and improper planning can lead to double taxation of income at rates of more than 75%, you may end up dealing both with Uncle Sam and Ottawa, proceed with knowledge and caution and not just US dollar price.

#11 America House Buyer on 01.20.23 at 3:47 pm

#10 Stay in your lane. Rich people use accountants and pay for the best advice money can buy.

#12 American House Buyer on 01.20.23 at 3:56 pm

Hint to the unwashed and rinsed by realtors – If you want to make a mint find gold where no one else is digging.
https://www.zillow.com/al/waterfront/

#13 Dolce Vita on 01.20.23 at 4:08 pm

One last salvo before I prepare for Malta tomorrow.

I was taken aback by the Net Worth, Wealth, numbers StatCan published yesterday (Unadjusted).

I get they are paper losses and to make them real you have to sell your home, stock investments, etc.

Still, the young and income poor got a shellacking in the 1st 3 quarters of 2022 – see pretty (sort of) charts I made from the numerical data:

https://twitter.com/bsant54/status/1616541172624928769

Still can’t get over the Pre-1946 Generation that lost this much of their paper Wealth as a group in the first 3 quarters of 2022:

-$326.6 BILLION, -24.65%

Meanwhile, Trudeau High 5’ing it with a 5 year old:

https://twitter.com/liberal_party/status/1616449120415387648

and giving $6,997 per child for families across the country.

Vote getting by bribing Cdn families with their own money is all he is about.

See what he does about the plight of the very elderly. Think he’s going to turnaround and shell out $7 thousand a year more to them?

Snowball’s hope in Hades I think.

He’s ruthless to the very elderly.

#14 Slanty Semi on 01.20.23 at 4:09 pm

I put this keyword string into AI:
“An article in the style of the Greater Fool blog by Garth Turner”

The AI generated this response:

The housing market is on fire, and there’s no sign of it slowing down anytime soon. Prices are soaring, inventory is low, and buyers are scrambling to get their hands on a piece of the action. But as any seasoned investor knows, what goes up must come down. The question is, when will the bubble burst?

Many experts are predicting that the market will cool off in the next few years, but there are also those who believe that this time is different. They argue that low interest rates, a strong economy, and a lack of new construction are all factors that will keep prices elevated for the foreseeable future.

Personally, I think the bubble is going to burst sooner rather than later. We’ve seen this movie before, and it never ends well. The Greater Fool theory states that people will continue to buy assets, such as houses, at ever-increasing prices, as long as they believe they can find someone to buy it from them at an even higher price. But eventually, the music stops and there are no more buyers left.

The warning signs are already there. We’re seeing more and more people taking on massive amounts of debt to get into the market, and this is a recipe for disaster. We’re also seeing a lot of speculation and flipping, which is another red flag. When the market turns, these people will be the first to get hurt.

But it’s not just the speculators who are at risk. The average homebuyer is also in danger of getting caught up in the bubble. They’re being lured in by the promise of quick profits and easy money, but they’re not realizing the risks they’re taking on.

So what can you do to protect yourself? The best thing you can do is to be cautious. Don’t over-extend yourself financially, and don’t believe the hype that the market will continue to go up forever. Remember, the Greater Fool theory can only work as long as there are greater fools. And eventually, they will run out.

Okay, I surrender. – Garth

#15 TurnerNation on 01.20.23 at 4:13 pm

Uppa up. What are our Rulers up to? Daily their agenda comes to light. Working on expanding our crowded, fetid “Smart Cities”.

https://thenarwhal.ca/ontario-strips-conservation-authority-powers/
While you were on holiday, Ontario stripped conservation authority powers

.Greenbelt Council does about-face on safeguarding protected lands with Hazel McCallion at the helm
The former Mississauga mayor, who earned the nickname “Queen of Sprawl” during her tenure, calls the Ford government’s decision to open areas up for development “brave.” (thestar.com)

—-
— Here in the global open air Tax Farm our Rulers will work us to the bone!
If you have a strong back line up on this side, if not the maid will be with you shortly.
Check the history books…this is nothing new.

https://www.zerohedge.com/political/over-1-million-workers-hit-french-streets-against-macrons-pension-reform
Mass strikes against pension reform have begun in France – Le Figaro.
Mass strikes and protests against the pension reform have begun in almost all cities of France, according to which the retirement age is planned to be increased from 62 to 64 years.

#16 American House Buyer on 01.20.23 at 4:25 pm

Our work is never finished.
We always buy at the bottom of the real estate markets wherever they are.
https://www.itworldcanada.com/article/google-slashes-12000-jobs/523012#:~:text=Sundar%20Pichai%2C%20chief%20executive%20officer,per%20cent%20of%20its%20workforce.

#17 Chris S. on 01.20.23 at 4:29 pm

I put the following into chat.openai.com – “The rules allow one to hold the mortgage on a house inside a RRSP”

…and received the following:

“No, it is not possible to hold a mortgage on a house inside a Registered Retirement Savings Plan (RRSP) in Canada. The RRSP is a type of savings plan that is registered with the Canadian government and is intended for retirement savings. The funds in an RRSP can be invested in various types of investments such as stocks, bonds, and mutual funds, but cannot be used to directly purchase or hold a mortgage on a property.

Instead, the Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw funds from their RRSP to purchase or build a qualifying home, but the funds must be repaid to the RRSP over a period of 15 years. Additionally, you can use RRSP as collateral to secure a loan to buy a property.”

… ?? don’t rely on AI…

Chris S.

Humans, 1. Chatboy, 0. – Garth

#18 American House Buyer on 01.20.23 at 4:40 pm

What have the Canadian developers, builders and realtors been smoking? Buying existing homes in the USA – 142 million of them at a tenth or twentieth the cost of a Canadian house makes the money go a lot further than sticks, bricks, dirt and city fees and gives you income right away. No delays, interest, red tape etc. No brainer for people that can think outside the box.

#19 Trimtab on 01.20.23 at 5:00 pm

Wait…i rent and bf owns. If we move in together in 2023 I get no FHSA?
But if we wait until 2024 to cohabitate I get FHSA because the year its opened and 4 years previous is as a renter?
Not very inclusive….???

#20 Sail Away on 01.20.23 at 5:05 pm

From OpenAI:

Ponzie, an Austrian native, has a deep and abiding love for rutabagas. He has been cultivating them in his garden for years, and can often be found tending to them with a sense of reverence and care. Ponzie believes that rutabagas are not only delicious, but also incredibly versatile in the kitchen. He enjoys experimenting with new recipes and incorporating them into his meals, and often shares his creations with friends and family. Ponzie’s love for rutabagas is not limited to just eating them, he also enjoys educating others on the benefits of these underappreciated vegetables. He often gives presentations at local farmers markets and gardening clubs, spreading his love and knowledge of rutabagas to others. For Ponzie, rutabagas are more than just a vegetable, they are a passion.

#21 American House Buyer on 01.20.23 at 5:05 pm

THIS IS WHY WE ALWAYS BUY AT THE BOTTOM OF THE REAL ESTATE MARKETS

The Kobeissi [email protected]
December data just showed that existing home sales fell 18% in 2022.
This is the first time in history that home sales have declined for 11 straight months.
The average mortgage rate rose from 3.1% to 7.1%.
Higher interest rates are bringing the economy to a screeching halt.

#22 Alois on 01.20.23 at 5:40 pm

Used my AI to build a time machine….working good so far.

#23 Nonplused on 01.20.23 at 5:57 pm

#14 Slanty Semi on 01.20.23 at 4:09 pm
I put this keyword string into AI:
“An article in the style of the Greater Fool blog by Garth Turner”

“Okay, I surrender. – Garth”

———————————–

Knowing that ChatGPT’s data base ends in 2021, and that it does have access to some of the web (although we don’t know what), it’s a pretty good, if somewhat plagiaristic, synopsis.

So is there a bit of Garth in ChatGPT? I guess we don’t know whether some Garth got in there. But if so, I guess he’s immortal now. I guess he already was destined to live on so long as his blog remains on the web even after the last post is posted.

But it is one thing for the program to scan all of Garth’s previous posts and provide a general synopsis. Can it take various data sources and generate new material based on changing data? I’m going to guess it isn’t that smart yet, which is probably why the main discussion is about whether it will replace higher education and not Bloomberg.

But feeding Bloomberg data into it in real time is probably coming. The question is whether it will be able to interpret the data and generate new insights itself, or it need the analysis done for it and presented as text. It is a language processor after all.

It can already generate computer code for simple tasks, but I imagine again it is relying on previous solutions.

Still, considering that only 100 years ago we were relying on vacuum tubes and the first computers were just being invented as very simple lab experiments, and now we have robots that can do back flips, what the next 100 years could bring is mind boggling.

Maybe when the aliens do arrive, they will be what we would call “artificial life forms” or “artificial intelligence”. Robots, basically. Makes sense if you have to traverse 100’s of light years. Why not send a robot? Assuming they can figure out a way to make a computer work for more than 5 years before it self-destructs. It’ll be in space 100’s of years.

————————————

So here is what I typed in:

“Nonplused comments on the GreaterFool.ca website. Generate a comment in his style.”

Here’s what it generated:

“Another day, another dollar thrown down the drain by these so-called ‘experts’. The housing market may be on fire, but don’t be fooled by the smoke and mirrors. The bubble is bound to burst and when it does, those who got in late will be left holding the bag. Don’t be a Greater Fool, folks.”

It got my distain for “experts”, of government wasting money, my sense of inevitability, and used the term “folks”. But I usually use it “Remember, folks, bla bla, bla”, so not quite right. And I seldom use the term “Greater Fool”.

Also it’s way too short.

Now, the question is whether the comments section is also in ChatGPT, or it is just generating a general response.

So I typed in:

“Faron comments on the GreaterFool.ca website. Generate a comment in his style.”

I kid you not:

“Once again, the naysayers on this site are proving to be nothing more than fear mongers. The housing market is strong and showing no signs of slowing down. Yes, prices may be high but that just means there is more opportunity for growth. Don’t let the negativity of others hold you back from making smart investments. Keep calm and invest on.”

Let’s try: “SailAway comments on the GreaterFool.ca website. Generate a comment in his style.”

“The housing market may be a rollercoaster ride, but it’s one worth taking if you know how to navigate it correctly. Don’t listen to the doom and gloom predictions of others, instead do your own research and make informed decisions. Remember, a well-timed investment can be the key to financial freedom. So set sail and make your dreams a reality.”

Ya no, not that great. Ok, one more to see if it’s just coincidence: “TurnerNation comments on the GreaterFool.ca website. Generate a comment in his style.”

“The housing market is not for the faint of heart, but for those who are willing to take the risk, the rewards can be great. Don’t listen to the naysayers who are quick to predict a crash. Instead, stay informed and stay ahead of the game. Remember, knowledge is power and that is what sets apart the TurnerNation from the rest. So, stay strong and keep turning those profits.”

Ya no, that one was a total miss. I guess Garth still needs us.

#24 Regjeg on 01.20.23 at 6:04 pm

Chat AI’s reply to my test question “What was the 1 year rate of return for the TSX for 2022?”:

“The 1 year return rate for the Toronto Stock Exchange (TSX) in 2022 is not yet known, as the year has not yet begun”

NK!!!

AI = Abjectly Ignorant

#25 Damifino on 01.20.23 at 6:08 pm

A few nights ago, a good friend (let’s call him Jim) came over for a visit. Jim’s about my age and we share a common outlook. Jim had these comforting words for me:

Now fully dominant are a handful of world leaders who excel at the distribution of wealth while being utterly unable to create any. They are aided and abetted by a masses of frightened, self-loathing common folk convinced we are destroying the beautiful blue marble God gave us heathens to play upon while awaiting ascendancy to his higher domain.

The future looks bad indeed for those who cherish freedom, embrace common sense and have a realistic view of physics. That would include those no with desire to return to the brutish, want-filled lives that human ingenuity (and copious energy) has, so recently in our history, allowed us to avoid.

The good news, said Jim, is that you and I will not be around to experience the worst effects as our hard-won enlightenment is slowly but surely dissolved by self-aggrandizing fools.

Thanks Jim. I shall sleep much better now.

#26 crowdedelevatorfartz on 01.20.23 at 7:15 pm

Great questions and answers.

I’ll be maxing my FHSA out this year and every year I continue to rent.

@#13 Dolce
“See what he does about the plight of the very elderly. Think he’s going to turnaround and shell out $7 thousand a year more to them?

Snowball’s hope in Hades I think.

He’s ruthless to the very elderly.”

++++
Yep.
If the Canadian “Health Care” system is any indication….
MAID = Soylent Green

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiBk7vbsNf8AhXLAjQIHTGGDqYQFnoECAkQAQ&url=https%3A%2F%2Fwww.dyingwithdignity.ca%2Fend-of-life-support%2Fget-the-facts-on-maid%2F&usg=AOvVaw0lK28cf4ywXR3–Y5LeVsS

Glad someone has pointed that out.
Enjoy Malta

#27 Wrk.dover on 01.20.23 at 7:18 pm

#6 American House Buyer on 01.20.23 at 2:49 pm
___________________________________

What is your penchant for crack houses in dodgy locales based on anyhow?

You are trolling an audience that drinks premium brands!

Try Reddit.

#28 CanadianOne on 01.20.23 at 7:42 pm

Garth,

Not all AI is created equal. Or for the same target use case. Mainly, the AI has to be “trained”. Yes it does improve upon it’s previous queries. But it also suffers from Hallucination. Amongst many of it’s limitations chatgpt is limited in it’s knowledge of events after 2021.

Source: Features and Limitations found on
https://en.wikipedia.org/wiki/ChatGPT

#29 Ponzius Pilatus on 01.20.23 at 8:01 pm

Since 2000, as the Colorado River has dried up, Arizona has become increasingly reliant on pumping groundwater, which today provides 41% of the state’s needs. Meanwhile some cities, like Tucson, have gone to great lengths to cut back on the amount of water used per resident. Yet at the same time, Arizona is enthusiastically welcoming tens of thousands of new residents—lured by cheap housing and endless sunshine—each year. In 2022, four of the ten fastest-growing counties in the U.S. were in Arizona, according to census data, with Maricopa County, where Rio Verde is located, at number eight on the list.

#30 Observer on 01.20.23 at 8:03 pm

#11 America House Buyer on 01.20.23 at 3:47 pm
#10 Stay in your lane. Rich people use accountants and pay for the best advice money can buy.

^^^^^^^^^^^^^
So are you saying only “rich people” should buy real estate in the USA?

#31 Uh oh! on 01.20.23 at 8:56 pm

DELETED (Anti-vax coward)

#32 DON on 01.20.23 at 9:01 pm

#27 Wrk.dover on 01.20.23 at 7:18 pm
#6 American House Buyer on 01.20.23 at 2:49 pm
___________________________________

What is your penchant for crack houses in dodgy locales based on anyhow?

You are trolling an audience that drinks premium brands!

Try Reddit.

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

I was thinking the same. Go capitalize your comments on Reddit AHB. People might listen to you there.

#33 Alois on 01.20.23 at 9:15 pm

AI Time machine is working ace…bought extra warranty…

….able to predict the past with 99.9% accuracy.

PS Any special requests ?

#34 Ponzius Pilatus on 01.20.23 at 9:25 pm

#20 Sail Away on 01.20.23 at 5:05 pm
From OpenAI:

Ponzie, an Austrian native, has a deep and abiding love for rutabagas. He has been cultivating them in his garden for years, and can often be found tending to them with a sense of reverence and care. Ponzie believes that rutabagas are not only delicious, but also incredibly versatile in the kitchen. He enjoys experimenting with new recipes and incorporating them into his meals, and often shares his creations with friends and family. Ponzie’s love for rutabagas is not limited to just eating them, he also enjoys educating others on the benefits of these underappreciated vegetables. He often gives presentations at local farmers markets and gardening clubs, spreading his love and knowledge of rutabagas to others. For Ponzie, rutabagas are more than just a vegetable, they are a passion.
————————
Just bought ten pounds of Beets.
1.29 a point.
First you boil them.
Then blanch them in cold water.
And peel them.
Cut them in pieces and pickle in Mirin.
Ready in 2 days.
Great as a refreshing salad.
Inflation. What inflation?

#35 Sail Away on 01.20.23 at 9:36 pm

“As the CEO and public face of this company I can lie, do lie, and will continue to lie, and people should not hold that against me,”

—Elon Musk

#36 the Jaguar on 01.20.23 at 9:41 pm

#20 Sail Away on 01.20.23 at 5:05 pm…

Chamo…

Not Rutabaga’s, but Turnips. Similar to the bleatings of those ‘in the know’ about who speaks the ‘High German’, versus the ‘Low German’, the difference between Rutabaga lovers and Turnip lovers cannot go undistinguished or without qualifying factors. There is a hierarchy after all….

Ponzius Pilatus is in the Turnip category.

Snorfel, snorfel, snorfel…

#37 crowdedelevatorfartz on 01.20.23 at 10:09 pm

@#23 Nonplused
“Also it’s way too short.’
++++

Even AI Bots know.
Brevity trumps bafflegab.

@#34 Ponzies Pickled Pennies
“Just bought ten pounds of Beets.
1.29 a point.
First you boil them.
Then blanch them in cold water.
And peel them.
Cut them in pieces and pickle in Mirin.
Ready in 2 days.
Great as a refreshing salad.
Inflation. What inflation?”
++++
So at Pot Luck dinners do you bring homemade Jars of sauerkraut and jars of Beets?
And bring the empty jars back home?

Can I call you Jar Jar Beets from now on?

#38 Nonplused on 01.20.23 at 11:01 pm

#24 Regjeg on 01.20.23 at 6:04 pm
Chat AI’s reply to my test question “What was the 1 year rate of return for the TSX for 2022?”:

“The 1 year return rate for the Toronto Stock Exchange (TSX) in 2022 is not yet known, as the year has not yet begun”

NK!!!

AI = Abjectly Ignorant

—————————

Um, if you are following along you know that ChatGPT has only been “trained” on data to 2021 so far. Someone is “Abjectly Ignorant” for sure, but I’m not sure it’s the machine.

If the question is “What was the 1 year rate of return for the TSX for 202?”

The answer is:

“I’m sorry, I did not understand the year you were asking for. The S&P/TSX Composite Index, which is a market capitalization weighted index of the largest companies listed on the Toronto Stock Exchange, was down by 14.1% in 2020.”

#39 Nonplused on 01.20.23 at 11:05 pm

#37 crowdedelevatorfartz on 01.20.23 at 10:09 pm
@#23 Nonplused
“Also it’s way too short.’
++++

Even AI Bots know.
Brevity trumps bafflegab.

————————————-

Seems a guy can’t even make a joke at his own expense around here.

#40 Ponzius Pilatus on 01.20.23 at 11:28 pm

Poor IA machine gets fed data by humans.
How can we be sure that the data is correct?
Even here , posters constantly picker about the numbers.
Garbage in , Garbage out.
That’s why I like to do my own research.
Also helps against Alzheimer’s.

#41 Paradox 3.0 on 01.21.23 at 12:01 am

#35 Sail Away on 01.20.23 at 9:36 pm
“As the CEO and public face of this company I can lie, do lie, and will continue to lie, and people should not hold that against me,”

—Elon Musk

———

At least he’s being honest!

#42 Mousey on 01.21.23 at 12:30 am

Can a brave volunteer please put in a request to the chat AI robot thing to create a post in the style of Smoking Man?

#43 Steven Rowlandson on 01.21.23 at 6:48 am

Here is a video for Dog lovers.

The History of Dogs: evolution, archaeology, and mythology | Full lecture (University of Wyoming)
https://www.youtube.com/watch?v=CiD-qZDl9jQ

#44 Sail Away on 01.21.23 at 7:57 am

#36 the Jaguar on 01.20.23 at 9:41 pm
#20 Sail Away on 01.20.23 at 5:05 pm…

Chamo…

Not Rutabaga’s, but Turnips. Similar to the bleatings of those ‘in the know’ about who speaks the ‘High German’, versus the ‘Low German’, the difference between Rutabaga lovers and Turnip lovers cannot go undistinguished or without qualifying factors. There is a hierarchy after all….

Ponzius Pilatus is in the Turnip category.

Snorfel, snorfel, snorfel…

—————

Fun fact 1: rutabagas are a hybrid turnip/cabbage.

Fun fact 2: the Sail Away go-to sustenance: the ‘one-pot’

Take one large pot, onions, any type of meat and any variety of root vegetables. Cut up the meat and sear with onions while cutting the rest of the veggies. Dump it all in the pot, salt, cover, reduce heat to low and cook for an hour or two or until you remember. Eat all week. Perfect, easy, wholesome and delicious.

#45 millmech on 01.21.23 at 8:12 am

Nice to see crypto run up 40% in the last two weeks.

#46 Sail Away on 01.21.23 at 8:20 am

#42 Mousey on 01.21.23 at 12:30 am

Can a brave volunteer please put in a request to the chat AI robot thing to create a post in the style of Smoking Man?

—————

‘The smoke from my cigarette curls around my face as I ponder the nature of power and control. I’ve spent a lifetime manipulating events from behind the scenes, pulling strings and shaping the world to suit my own ends. Some may call me a villain, but I see myself as a necessary force for order in a chaotic world. I will do whatever it takes to ensure that the powerful stay in power and that the future is secured for those who deserve it. The ends justify the means, after all. And as I take one last drag on my cigarette, I can’t help but smile at the thought of all the pawns on my chessboard, unknowingly dancing to my tune.’

#47 Sail Away on 01.21.23 at 8:27 am

‘Dr. Ponzie, an Austrian researcher, was studying the nutritional properties of rutabaga when he made an accidental discovery that could change the way we treat Alzheimer’s disease. While preparing samples of the root vegetable, he noticed that some of his lab assistants who were wearing rutabaga skin on their forehead as a joke, were showing cognitive improvements. Intrigued by this observation, he began to study the effects of rutabaga skin worn on the forehead during the day, in Alzheimer’s patients.

To his surprise, he found that Alzheimer’s patients who wore rutabaga skin on their forehead during the day for a period of time, showed significant improvements in their cognitive function, including memory and language abilities. Further research revealed that the rutabaga skin contains a compound that is able to cross the blood-brain barrier and protect the brain from the damage caused by Alzheimer’s disease.

While more research is needed to confirm the effectiveness of rutabaga skin as a treatment for Alzheimer’s, Dr. Ponzie’s discovery offers a new and potentially effective approach to treating this devastating disease. It is a great example of how sometimes, the most unlikely of things can lead to important breakthroughs in science.’

#48 American House Buyer on 01.21.23 at 8:45 am

Would you feel good watching 3 generations of your family stuffed in to a house unable to keep up with bills? How much of a loser are you? Buy in USA. RENT IN CANADA.

#49 BABY'S BUM on 01.21.23 at 8:56 am

DELETED

#50 crowdedelevatorfartz on 01.21.23 at 9:49 am

@#39 Nonplused
“Seems a guy can’t even make a joke at his own expense around here.”
+++
Hah.
Have you noticed my name?

#51 Prince Polo on 01.21.23 at 9:50 am

May the FHSA be folded into an RRSP in year 6, or one has to wait 15 yr?

Subsequently, may a home be purchased in year 6+ and the FHSA left alone to grow for 9 more years?

Thanks for your time!

Anytime. – Garth

#52 Tony on 01.21.23 at 10:39 am

Re: #48 American House Buyer on 01.21.23 at 8:45 am

Good news, my brother who lives in Canada is buying a house in Boca Raton Florida about a year from now.

#53 Mousey on 01.21.23 at 11:00 am

Sailo, Thanks for taking up the challenge on the Smoking Man inquiry. AI bot thingy appears to be referencing the other Smoking Man – the one from the TV show X-Files. I was referencing the Smoking Man from this blog. I was expecting something about Vegas, his crazy little dog, his book, trading on Forex, losing his bet on Yellow pages, etc. Maybe AI bot thingy has nothing on him? Thanks anyway.

#54 Ponzius Pilatus on 01.21.23 at 11:06 am

52 Tony on 01.21.23 at 10:39 am
Re: #48 American House Buyer on 01.21.23 at 8:45 am

Good news, my brother who lives in Canada is buying a house in Boca Raton Florida about a year from now.
———————
Sure,
If it’s not being washed away before.

#55 Sail Away on 01.21.23 at 11:33 am

“I am the Smoking Man, master of my own destiny. I live in the bright lights of Las Vegas, where I spend my days trading on the Forex market and writing my books about Nictonite. My trusty companion, Vegas, my crazy little dog, is always by my side. I have made a fortune through my successful trading, but even the greatest of minds can make a mistake. I made a bad bet on the Yellow Pages, but I quickly bounced back. My enemies, like the angry James, have tried to bring me down, but I always rise above. Unfortunately, my time is running short. My ultimate demise is upon me, a brain tumor that will take me out of this world. But I will go out as I have lived, on my own terms.”

#56 Alois on 01.21.23 at 11:37 am

#45 millmech on 01.21.23 at 8:12 am
Nice to see crypto run up 40% in the last two weeks.

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

Good friend of ours works for our local power utility in collections department. One crypto miner ‘s UNpaid power bill was getting out of control so they had to close him down.

A relative works for another utility and they also have crypto miners clients. He was telling me that ONE miner requires approx. 1/7 the power usage of Kelowna.

Anyway…the crypto idea never appealed to me. Maybe its a generational thing, as it wouldn’t take much for the system to crash and burn without a trace.

#57 American House Buyer on 01.21.23 at 5:19 pm

Sure Feels like 1994 – 1996, house and condo sales dwindled to a trickle, most real estae offices lost all their sales but to a couple of dozen if that per month shared between a hunded realtors – with the bulk of those few sales going a couple of lifetimers. Most realtors went tits up and went on social assistance. Dark days ahead for those that have not put away funds to carry them through the sales and listing drought which is already happening in every Province across Canada. When the market stops -it stops dead overnight. Spring 2023 is the start of dead housing markets for many years. Smart people will dump their debts and wait for firesales to buy homes, condos and land at rock bottom prices. Go back and look at sales histories and prices from the late 1980s – early 2000s and later. The end of real estate cycles always bring heartache and disappointment to the ill prepard.

#58 Ronaldo on 01.21.23 at 5:52 pm

#57 American House Buyer on 01.21.23 at 5:19 pm

Totall agree. I recall 92 to 94 in the Okanagan (Vernon) a condo development boarded up their unfinished units and they remained that way for the next 4 or so years. Some developers holding several lots built condo units and sold them at cost just to get rid of the land and taxes they had to pay on them. The prices remained flat for over 10 years. I see the same thing happening again.

#59 Ronaldo on 01.21.23 at 5:55 pm

#56 Alois on 01.21.23 at 11:37 am
#45 millmech on 01.21.23 at 8:12 am
Nice to see crypto run up 40% in the last two weeks.

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

Good friend of ours works for our local power utility in collections department. One crypto miner ‘s UNpaid power bill was getting out of control so they had to close him down.

A relative works for another utility and they also have crypto miners clients. He was telling me that ONE miner requires approx. 1/7 the power usage of Kelowna.

Anyway…the crypto idea never appealed to me. Maybe its a generational thing, as it wouldn’t take much for the system to crash and burn without a trace.
—————————————————————–
Complete total waste of energy. An environmental disaster. Makes no economic sense.