#55 VanBanker Says: Do you have information/graph of this somewhere? I haven’t heard about Canada buying long-term GOC’s yet, although they have been threatening.

The federal government via CMHC has been buying mortgages from Canadian Banks. Up to $125 Billion so far, though the banks are starting to say that they have had enough. While not a traditional way for a government to "print money", the goal (and effect, I assume) is the same.

Speaking of that goal, Harper talks about loosening credit markets because banks are too scared to lend. But the banks insist that they are lending. At least to worthy creditors. What has changed is that the unworthy creditors can not longer borrow from NY hedge funds/ subprime lenders. and that is what worries Harper and is what he seems to be trying to recover. Crazy.

Current score: 4 (to vote for this comment, please visit the site)

In one of them they say that: "Obviously Jesus Christ was a very humble man because being God, therefore able to do anything, he choose to be born in Bethlehem instead of here.."

An so the circus goes on…

Current score: 2 (to vote for this comment, please visit the site)

Yeah, that's the same for me. But I did live briefly in Toronto as a child, and I remember they had "world-class" and "New York of the North" phrases which I thought were a bit sad. Now it seems to be here, too.

I actually like Vancouver. However, I have a had a weird feeling the it's grown away from me the last few years. It is starting to feel more like a mall and people are very consumerist (myself included, sometimes). I often think about leaving, but I love my friends and family, so I probably won't.

Current score: 7 (to vote for this comment, please visit the site)

Good post !

IMHO, Vancouver has sold out since the 1980's. The citizens are propogandized into this World Class mode/belief. Marketed to attract suckers within and attract others globally. Few gain and more lose each day…it's been a bad dream. People make a City, not the mountains nor the ocean nor the architecture…thats simply hollow window dressing.

I think it's catching up with us now…this World Class Potemkin Village will show its cracks after the make-up falls off.

Current score: 4 (to vote for this comment, please visit the site)

#62 is it swagger or insecurity? Is it real or just part of an advertisement campaign for local consumption that a segment of the vacuous pop has swallowed hook line and sinker. I have been pretty much everywhere and have never heard Vancouver refered to as ' World class' anywhere except here.

Is it just another tag line like 'staycation, super natural bc, vancouver nuclear free zone? I think it all began somewhere in the bowels of the tourism bc offices and was facillitated by the whoreish local media. It's all been about playing on the basic fears, ignorance and insecurity of the local population. Even the average house started to heel click and zeig heil during the nazi hey day when all the advertising was directed at that behaviour. Lets face it, a lot of people have been royally sucked by a few jokers who really don't give a fuck about you anyway.

Vancouver is a pretentious, jealous, violent, subcivil culture devoid on any personality except that which has been created by this agregious and phony ad campaign.

That should be our new tag " Phony, Pretentious waanabe's and terminally Soggy". Oh and then we can switch to 'west coast lifestyle' for all 13 sunny days we may get in August.

Current score: 10 (to vote for this comment, please visit the site)

#54 VanBanker

M0 M1 M2 M3

Annual Monetary Supply Growth IQ 2008

China 13,0% 18,0% 18,0% N/A

Russia 26,0% N/A 33,0% N/A

Indonesia 22,0% 28,0% 15,0% N/A

Norway 11,0% 8,0% 14,0% N/A

U.A.E. 19,0% 51,0% 42,0% 38,0%

Kuwait 11,0% 28,0% 23,0% 23,0%

India 19,0% 20,0% 22,0% 22,5%

Saudi Arabia 13,0% 27,0% 22,0% 22,0%

Denmark 11,0% 19,0% 22,0%

Turkey 20,0% 20,0% 21,0% 21,0%

South Africa 14,0% 12,0% 20,0% 21,0%

Australia 5,2% 3,3% 17,0% 20,0%

U.S. 1,6% 1,5% 6,0% 19,0%

Venezuela 1,6% 1,5% 6,0% 19,0%

Brazil 21,0% 17,0% 26,0% 17,0%

Sweden 0,5% 11,0% N/A 16,0%

Republic of Korea -0,6% 16,0% 15,0%

Poland 5,0% 17,0% 17,0% 15,0%

U.K. 6,0% 16,0% 13,0% 14,0%

Mexico 9,2% 10,0% 12,0% 14,0%

Canada 3,4% 8,0% 8,8% 13,0%

Singapore 10,0% 29,0% 12,0% 12,0%

E.U.-13 7,5% 2,3% 10,0% 10,5%

Japan 1,9% -1,2% 7,0% 9,0%

Switzerland 0,2% -2,0% -4,5% 2,6%

it looks good to hold a swiss account…stay away of BRICS and oil producers and commodity currencies, including the bolivar and the

greenback (same expected 19% inflation in 2008 according to my M3)

Current score: 1 (to vote for this comment, please visit the site)

Why are canadians so obsessed with this these days? I don't remember all this world-class, best-in-the-world stuff when I was a kid.

It's kind of embarrassing.

I love Canada, but there are a LOT of great places in the world. When I come across a person who swaggers, I always assume that deep down they're a loser. So, I wish we would lose our swagger, it's so much worse than cool, diffident confidence.

We've really tied our national pride into house prices. Too bad we didn't decide to tie it to amazing landscaping, city planning and architecture

Current score: 12 (to vote for this comment, please visit the site)

Personal Story by a Lawyer from a Previous Asset Bubble. Can we Learn from the Past and How will the Housing Decline Impact You?

http://www.doctorhousingbubble.com/personal-story…

Rather poignant story by a lawyer from the 1930's(in BOLD hi-lighted print)

Here is sample:

“The boom period of the last years of the World War and the extremely inflationary period of 1919 and 1920 were like the Mississippi Bubble and the Tulip Craze in Holland in their effect upon the general public. Farm prices shot sky high almost over night. The town barber and the small-town merchant bought and sold options until every town square was a real estate exchange. Bankers and lawyers, doctors and ministers left their offices and clients and drove pell mell over the country to procure options and contracts upon this farm and that, paying a few hundred dollars down and expecting to sell the rights before the following March brought settlement day. Not to be in the game marked one as an old fogy, while paper profits were pyramided and Cadillac cars and pleasure trips to the cities took the place of Fords and Sunday afternoon picnics. Everyone then maintained that there was only a little land as fertile as the fields of Iowa, Illinois, and Minnesota, and everyone sought to get his part before it was all gone. Like gold, it was limited in extent and of great potential value. Prices skyrocketed from $100 to $250 and $400 per acre without regard to the producing power of the land.”

======

Read the rest

Current score: 7 (to vote for this comment, please visit the site)

I agree:

I have been looking over Greater Fool archives and seeing Garth's predictions unfold ( which were in contrast to what the Gov't was saying ).

Garth more recently said the big banks will not fail…which is likely coded language that Gov't will have to step in at some time.

This is a global economic crisis, Canada is small potatoes,highly dependent on solvent international customers, and if the bigger countries and their own banks are near collapse, WTF is this BS re: Canadian banks being solid, stable etc. Its simply a relativity game , not an absolute, and eventually they can ALL go over the cliff.

Current score: 2 (to vote for this comment, please visit the site)

Well, that's good. That they're starting to do it

"Oh, to the idiot who’s a lender at three banks"

For someone who just signed on the dotted line for a wealth-building empire, and got great deals on stock, you're awfully testy today.

Current score: 5 (to vote for this comment, please visit the site)