#156 patriotzed

Fully aware of Schreck's political background .

I agree with many of your points in general.

However, Schreck does lay out some facts, and I agree with his point that the HST will place displace the tax burden onto the average taxpayers.

I still don't agree with the HST, perhpas its an admission by Campbell we have a bubble and they are making a pre-emptive strike now for more revenue, as the HST will attack the RE market.

wow… get rich 101.. how to make $160,000 in 4 months during Olympics 🙂

http://vancouver.en.craigslist.ca/van/apa/1363443…

"Cost is based on per night basis of $100 per bedroom for 11 bedrooms for 151 days total period from Nov 1 till end of March CDN for the entire house …………… "

!(EconomicsDegree):

#151, too bad you have nothing to offer the discussion then.

"Speaking for myself, while they are intellectually intriguing, in many ways they are a bit too abstract for those of us without Economics degrees etc."

I would be surprised if there were more than a couple of economics degrees among readers here, and likely zero amongst the posters.

Re: all the Economics debates on VCI Speaking for myself, while they are intellectually intriguing, in many ways they are a bit too abstract for those of us without Economics degrees etc. and not germaine to the main points re Real Estate. There is little if any transparency in Gov't , especially when the " private " Federal Reserve and Bank of Canada is involved. RE on a global scale has been used to prime the economic pump and all associated sectors. The model (Plan A)used was that prices will continue to rise , so everybody wins. That model lasted until the complex financing schemes like derivatives had their Black Swan moment and imploded Goldman Sachs has been accussed of double -dipping, both shorting the market and then getting bailout funds. The low interest rates are not inflating the bubble… Read more »

asp:

PS asp, Johns work clearly details an accelerating M3 expecting to top 17% in 2010. Some countries are even worse off with current supply at 50% and more ( russia for ex). The charts are disconcerting and difficult unless you know what they mean. So here is a literal explanation by your own source.

I think its several pages into the argument before he gets into your topic.

http://www.shadowstats.com/article/issue-number-4…

How to Detect Budget Bamboozling When BC's Finance Minister rolls out his numbers and claims Tuesday, keep these facts in mind. By David Schreck, 31 Aug 2009, http://thetyee.ca/Opinion/2009/08/31/BudgetBamboo… QUOTES HST sales job reveals extent of poverty Median family income is the level at which half of all families have lower income and half have higher income. For all families, all ages and all types, median family income in B.C. in 2006 was $62,600; for families with the oldest member being over age 65, median income was only $21,900. According to the government's HST website, "Low income families and individuals will receive an annual B.C. HST Credit of $230 for individuals with income up to $20,000 and $230 per family member for families with incomes up to $25,000, paid quarterly with the GST credit." So how many people are so poor… Read more »

Annie Leibovitz reportedly set to lose life’s work over unpaid bills. http://www.3am.co.uk/annie-leibovitz-reportedly-s… Celebrity photographer Annie Leibovitz is close to losing the copyright to all her famous images – due to heavy debts. The snapper will lose her entire life's work if she doesn't pay back a whopping $24m loan by tomorrow. Art Capital Group (ACG), which consolidated all her existing loans in September 2008, is suing Leibovitz claiming that she breached the contract by refusing to allow real estate experts into her homes to appraise their value, and by blocking ACG from selling her photographs. Leibovitz, 59, put up her three historic Greenwich Village townhouses, an upstate NY property and her extensive photographic portfolio as collateral to secure the loan – which was reportedly taken out to pay off her mounting debts. Court records show that she piled up years… Read more »

Prediction: Re COV and Vision party: Remember when the NDP got elected to office in the early 1970's? Dave Barrett was on record as saying they felt their win was a fluke and that they had best use their 3 years in office to fulfill their political agendas, and subsequently passed legislation at a record pace. I can see Vision doing the same thing, and COV taxpayers watch out….the difference being that the grief will be concentrated in COV, and in the form of much higher taxes given they, as a Local Gov't cannot run a deficit. Watch out for Mayor Gregor's Green ideas…they will want to leave some sort of "Vision" legacy. This will be on top of the current fiascos ie the Olympic Village and the true Olympic costs, which in my view are not transparent YET. BTW:… Read more »

Didn't the BC Gov't buy up a bunch of SRO's in Vancouver with the vision of renovating them for the poor and homeless? Now with the budget and its admitted ballooning Provincial deficits, I highly doubt these will be ready in time, let alone high on the priority list. Re COV Vision party ? Geoff Meggs went to Torino: http://thetyee.ca/Opinion/2009/08/31/TorinoOlympi… " Geoff Meggs, a Vancouver city councilor, visited Torino while in Italy on vacation. The cost of his internal train ticket and a lunch for his host (no wine) — about $200 — will be charged to his council travel budget ". I think Vision will betray its own constituents so as not to arouse the citizenry, they want the Olympics to go off without a hitch. They are in bed with the Liberals, much like Ex-Mayor/future Premier Harcourt STFU… Read more »

#134 realpaul: Why do the politicians always choose to report the bad news or tell part of the truth on the weekends when no one is around to hear? ======== It's an old trick, oft noted by the more " feet to the fire " media. However, thanks for the numbers…I didn't realize BC was that vulnerable. It's not like we have any flexibility to ramp up some economic sector to make up for what we lost. How can we compete with other areas in which they are suffering to? Look at the summer 2009 , Campbell unleashed both the HST and the Budget….before Labour Day….why not wait till everyone is back from holidays and in town? Now that the bad news is out, people attention span is now onto other things. All the info I read states this is… Read more »

Why do the politicians always choose to report the bad news or tell part of the truth on the weekends when no one is around to hear? Hansen admits " Return to recession a distinct possibility. Expert says " 5 to 10 year slowdown in BC economy " No direction after Olympic glimmer" "Unemployment will continue to grow" " No hope for forestry" The list goes on. "This new-found pragmatism stems from the rot in the B.C. economy, the deadwood underpinnings that were easily obscured during the province's prolonged expansion. The hard reversal in B.C.'s fortunes is severe and, in some of the worst ways, its woes resemble those of the United States. It's suffering from the after effects of an expansion that was too reliant on a hot real estate market and consumer spending and characterized by soaring imports… Read more »