Friday Free-for-all!

Yeah, it’s the weekend!  That means it’s time for our regular end of the week news round-up and open topic discussion thread, here are a few recent links to kick off the chat:

18k Inventory party!
Updated inventory graph
Taxpayers victims of ‘hot money’
Welcome to Effluent Richmond
1 month later Telus still not sold out
special offer, $510,000 off
CMHC dismisses bubble talk
The CMHC board of directors
Silver linings of slow growth economy
Condo craze gets crazier
Wolverine moves down under
Huge drop in Chinese immigrants
Building permits rise, just not here
Pastrick thinks prices might fall
Buying with 5% down?
Time to cash out?
Condo owner, why so glum?

So what are you seeing out there?  Post your news links, thoughts and anecdotes here and have an excellent weekend!

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frank
Guest
Carrying on the conversation below. VREAA- seems to me that the Western Democracies are now being run for the benefit of a small group of super-wealthy elite and no one can question their inflated earnings when compared to regular folks. $2.5M For an executive of a small maritime utility is outrageous and yet if someone complains they will be branded a commie or an aggitator. In fact $2.5 is small peanuts in Canada’s board-rooms and is nothing on Wall Street where they pay themselves fortunes and then ask for Government money to cover losses. It’s all a scam. vreaa Says:… Read more »
jesse
Member

Jobs numbers are out: http://www.statcan.gc.ca/pub/71-001-x/71-001-x2012004-eng.pdf

BC’s UE dropped substantially. But look a the breakdown, most are goods-producing, 1/2 of all jobs gains last month were in “manufacturing”. That’s not necessarily a bad thing but warrants some investigation.

joe_blown_away_by_high_housing_costs
Guest
joe_blown_away_by_high_housing_costs

In today’s G&M:

“Bank of Canada Governor Mark Carney is in the op-ed section of the Financial Times Friday, boasting that his monetary policy framework is better than yours…Canada’s economic leaders appear to believe they have found the monetary policy equivalent of nirvana.”

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/daily-mix/carney-trumpets-the-triumph-of-inflation-targeting/article2429683/

Nirvana: A state of transcendant peace that comes from being liberated from material possessions.

Nirvana is an apt term in the context of Canada’s monetary policy. The bursting real estate bubble brought on by Carney’s monetary policy is surely going to liberate many Canadians from their homes and other material possessions and thereby help them reach a state of nirvana.

offside
Guest

frank Says: “$2.5M For an executive of a small maritime utility is outrageous and yet if someone complains they will be branded a commie or an aggitator”

or be branded unpatriotic, or terrorist would win if we shake the boat, or liberal, or branded as not free market player etc….

fu#@#$ing gulag society

fixie guy
Guest

@1 frank: It’s been ongoing since the Reagan Revolution. Somehow they succeeded for a generation in convincing people that the essence of rugged individualism is being reamed by multinationals they haven’t a hope against. Collective bargaining? You’re a social parasite if you’re not willing to stand alone against Coke or Haliburton. That it’s the ideal scenario for multinationals has, of course, nothing to do with it.

UnagiDon
Guest

“seems to me that the Western Democracies are now being run for the benefit of a small group of super-wealthy elite”

The rules of the game are currently slanted towards an uneven distribution of wealth. There’s not much we can do about that. The only thing you can do is try to work within the rules to achieve your desired outcome.

If you’re upset at these $1m salaries for executives, why not shift your career towards becoming an executive? Getting an MBA is not exactly difficult, and not that expensive either.

offside
Guest

UnagiDon Says “If you’re upset at these $1m salaries for executives, why not shift your career towards becoming an executive? ”

O really, so lets everyone strive to become sleazy, gready, sociopath executive…what a nice future you have in store for our kids

UnagiDon
Guest

@offside: “so lets everyone strive to become sleazy, gready, sociopath executive…what a nice future you have in store for our kids”

The fact is: we’re moving towards a time of greater inequality. The middle class is getting squeezed. There’s no denying that. And there’s nothing I can do to change it.

I don’t necessarily want my kids to become sleazy executives. But I will try to ensure that my kids get jobs where they cannot be downtrodden by sleazy executives.

Vansanity
Guest

Has anyone plotted the sales on a line graph like the inventory? It would be interesting to see plotted in conjunction with the inventory graph.

patriotz
Member

@UnagiDon:
“If you’re upset at these $1m salaries for executives, why not shift your career towards becoming an executive?”

You think the solution to too many sleazy, overpaid executives is even more sleazy, overpaid, executives? Think much?

~xXx~
Guest
Richmond man, 20, facing Stanley Cup riot charges BY ALAN CAMPBELL, RICHMOND NEWS MAY 10, 2012 Another Richmond resident has been charged for allegedly taking part in the notorious Stanley Cup riot of 2011. The Crown on Thursday approved charges of participating in the riot and breaking and entering against Jeffery Xiao, 20. Xiao was one of another six suspected rioters named by the Vancouver Police Department (VPD) this week as having Crown-approved charges labeled on them for the June 15 incident last year. In total, 91 suspected rioters are facing 238 criminal charges. The VPD’s riot team has recommended… Read more »
UnagiDon
Guest
@patriotz: “You think the solution to too many sleazy, overpaid executives is even more sleazy, overpaid, executives?” That is not what I said. I’m not trying to solve the problem of there being too many sleazy, overpaid executives. I’m trying to solve the problem of my kids’ lives being downtrodden by sleazy, overpaid executives. The solution is to try to ensure that they (and I) get jobs where they cannot be downtrodden by the 1%. Some such jobs are sleazy (executive, banker), but some are not (lawyer, doctor). Rather than complaining about the rules of the game, I’d rather behave… Read more »
Anonymous
Guest

@offside: …O really, so lets everyone strive to become sleazy, gready, sociopath executives ..

Well, unemployed Realturds would be well trained for that.

Tony
Guest

Thanks for the response yesterday Jesse and others… Is there a chart of prior year sales around?

new dawn
Guest

your time is over

Chinese Physicists Smash Distance Record For Teleportation

http://www.technologyreview.com/blog/arxiv/27843/

jesse
Member

@Tony: I have data back to about 1999. Here they are, charted:
pic

Hyperventelator
Guest

@UnagiDon:

“But I will try to ensure that my kids get jobs where they cannot be downtrodden by sleazy executives”

Ok, so what jobs are those?

jesse
Member

@Tony: It’s interesting to see sales in relation to the early part of the century (when population growth was low). It looks like, and seems plausible that, sales activity is tied to population growth. BC’s population growth is nowhere near as low as it was in the early 2000s. If population growth continues lower in 2012 compared to 2011, that means 2013 is going to be even worse for sales. Add that to OSFI tightening and we have some gnarly storm clouds.

Then there’s China slowing down. That’s a whole different discussion!

Patiently Waiting
Member

@UnagiDon: “The solution is to try to ensure that they (and I) get jobs where they cannot be downtrodden by the 1%. Some such jobs are sleazy (executive, banker), but some are not (lawyer, doctor).”

As things polarize, how can you guarantee anything? There’s going to be mad scramble for those few decent opportunities, and a lot of desperate people running around with all kinds of degrees. Unless you’re already part of the elite, chances aren’t good.

bubbly
Member

@Anonymous: Most realtors don’t have any training at all (the RE “course” doesn’t count as education). You would be surprised how many recent call centre workers and recent waitresses are now real estate “professionals”. They are not top executive material. Inflated ego and sociopathic personality is not enough to manage a real business.
When the bubble pops, they will go back to their old jobs, if their pride and the economy permits.

UnagiDon
Guest
@Patiently Waiting: “As things polarize, how can you guarantee anything? There’s going to be mad scramble for those few decent opportunities, and a lot of desperate people running around with all kinds of degrees. Unless you’re already part of the elite, chances aren’t good.” I don’t have all the answers. But look at the cost of law school: ~$10k per year for 3 years? That’s chump change. And look at the starting salaries for lawyers: $100k/yr, easily. And several of the Emera executives have law degrees. Lawyers are pretty safe from being downtrodden by the 1%. It seems to me… Read more »
midnite toker
Member

@UnagiDon: I would have gone to business school , unfortunately I’m allergic to bullshit.

VMD
Member

@UnagiDon:
Ben is also on the job:
[Which Canadian property markets are most at risk?]
May. 11, 2012 9:21AM EDT
“The two markets that currently concern me the most are Vancouver and the Toronto condo market…

The latest data suggests that the resale market in Vancouver may be running out of steam. Active listings are near all-time highs for this month, sales are at decade lows, and prices are now falling on a year-over-year basis:

The bottom line is that there is no other city in Canada where the fundamentals are this ugly. The risk of significant price declines in this market is enormous.”

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/home-buying/which-canadian-property-markets-are-most-at-risk/article2427557/

offside
Guest

UnagiDon Says: “And several of the Emera executives have law degrees. Lawyers are pretty safe from being downtrodden by the 1%.”

UnagiDon think for a second. the point is that qualifications are NOT TAKEN into consideration for someone success. it is other attributes that count. so if you want you kid to have success beside your LAW degree you have also to teach them to be corruptive, sleazy, gready..that is what counts in todays society.

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