I was just looking at yesterday’s comments and I am a bit confused. Has VCI shifted to automatically listing comments in chronological order? Based on the time stamps, it would appear yes. But I can’t see the numbering of the comments anymore. I noticed the other day, the numbering of the comments is gone. You used to be able to refer to comments by number, ie. Comment #1, #2, etc. I think I could see those numbers on the ipad but not on the desktop. Also, it still has the link to click to “view comments chronologically”, which seems unnecessary if we are going to chronological order by default (which is my preference). But when you click on “view comments chronologically” it still takes you to an old thread from last year called “All aboard the poverty train”.

Super Bear Garth Turner is ridiculing anyone (in his response to people’s comments) that says a crash is coming.

Did the Banks (he indirectly works for) have a secret talk with him?

He’s going to be left with the <80 IQ crowd as his followers if his flip flops keep up any longer.

#2 patriotz: great link. Answers one of my questions ” what will replace the housing bubble?” If Paul Krugman has no idea, then I think we are really in trouble.

# 1 Anonymous – The numbers are still there, they are just so faint as to be almost imperceivable. If you look to the far right of each post across from the date stamp you will see a large number in a VERY light grey.

Congratulations to you b5baxter.

“Super Bear Garth Turner is ridiculing anyone (in his response to people’s comments) that says a crash is coming.

Did the Banks (he indirectly works for) have a secret talk with him?

He’s going to be left with the <80 IQ crowd as his followers if his flip flops keep up any longer."

And you only realized this now? dont worry cuz some posters here and at vreaa's have sworn the oath of loyalty until death. what are their IQ levels again?

@Don Lapre: There’s so much to scoff at there, it’s easy to miss the real dirt, as pointed out by Bo Xilai in the comments:

Allan Hoegg (the “I’m-so-happy-with-my-mortgage” subject of the story) works for the same company as Rob Regan-Pollock, the chipper mortgage expert interviewed in the story. It looks like a MAC Marketing-style plant all over again.

@Furthermore, the author of that article works for Blue Sky Communications, a PR/marketing firm that appears to specialize in planting its clients in the media.

From the Realtylink website, if one wants to buy a (below) average house in Van East:

The Household Income Required figure of $ 214,560 is the minimum amount of Gross Income to qualify for a total mortgage of $ 855,000 under generally accepted underwriting guidelines… Typical loan qualification criteria requires that borrowers spend no more than 32% of their gross income on shelter financial obligations including mortgage payments, taxes, utilities & half of condo fees. In addition, borrowers should spend no more than an additional 8% to 10% of their gross income on all other financial obligation including personal loans, car loans, credit cards and other debts.

(what a bunch of hypocrites)

Forgot the link:
http://www.realtylink.org/prop_search/buyers_psearch.cfm
Choose a house in East Van and try for yourself 🙂

Home != House

Well, I’ll be. I slagged Left already living in San Diego‘s suggestion that the budget contained deposit confiscation measures, but apparently Mish sees them too. I don’t always agree with Mish but he’s certainly more knowledgeable than me about central bankerspeak.

See Canada Discusses Forced Depositor Bail-In Procedures for “Too Big To Fail” Banks in 2013 Budget for details.

Re #18 Many Franks:

Well the government didn’t specifically say deposit confiscation. It says “conversion of certain bank liabilities into regulatory capital”. A bank generally has various liabilities, and deposit is considered as senior for a credit event.

For example, Bank of America still owes $300B in the form of long-term debt, much bigger than the amount it lost (~$100B) during the past few years.

I think it’s a bit paraonid to think that the government will apply a haircut to the deposits before it wipes out the shareholders and bondholders.

@patriotz
>Conversion of debt into equity … authorized by law.
Makes sense. Now I wonder what about CDIC 100K deposit insurance. My guess is that taxpayers will save the first 100K of every deposit, and the banks (or the regulator entity) will perform the haircut on the rest.

Otherwise… if CDIC insurance is somehow voided or reimburses those 100K to the depositors with other instruments, not cash? Did somebody read the CDIC fine print?

don’t keep money in the bank it isn’t safe. Buy a house instead. Even if the market goes down, at least you’ll own something.

or you could buy some bitcoins, lol!

RE Bull! Bull! Bull! Says:
don’t keep money in the bank it isn’t safe. Buy a house instead. Even if the market goes down, at least you’ll own something.

or you could buy some bitcoins, lol!

-> Sooner or later, we might need to trade an apartment for a meal

Re #22:

Ya right. It’s easier to assess a higher property tax than taking someone’s cash deposit.

@gokou3

the reason they raided the bank accounts is because the banks were under capitalized. unless the municipality is going to go bankrupt, your property tax argument is invalid.

if canadian banks are in danger of being under-capitalized then you should get the money out of them. the government is telling you that they will raid accounts before they use tax payer money to bail out the banks.

so, buy the dip or bail out the people you hate most.