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Friday Free-for-all! July 28th 2017

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153 Comments

It’s the end of another glamorous week in Vantucky and that means it’s time for another Friday free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

–Condo market smoking hot
–Rich Chinese would rather live in LA
–Speculation tax
–Just say no to LNG
–Fed rate unchanged
–New bank rules
–

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

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bullwhip29

How China’s biggest bank became ensnared in a sprawling money laundering probe
http://business.financialpost.com/news/fp-street/special-report-how-chinas-biggest-bank-became-ensnared-in-a-sprawling-money-laundering-probe/wcm/e6cd0d48-b42a-45a1-91b5-0a94a29d2ca5

>>> under every rock and in between every nook and cranny…

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bullwhip29

Luxury Sunshine Coast development pits city against citizens in expensive court battles
http://www.cbc.ca/news/canada/british-columbia/luxury-sunshine-coast-development-pits-city-against-citizens-in-expensive-court-battles-1.4227136

>>> Molly’s Reach soon to be out of reach for most locals…

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Oracle

At YVR, 3 Jumbo jets a day Land with foreign students and 10 yr visitor visa holders coming here for the first time.

Wrap that around your heads when you guys keep debating Airbnb, supply, interest rates etc.

They can do nothing about rents anymore. Going to be a lot of homeless families. Women have already started to sell their bodies to landlords to make ends meet.

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Abdul Lahazi

Good grief.
You need to tone it down quite a bit.

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Oracle

Those million plus 10 yr visas given out to the Chinese: You need a net worth of a million to get one; the real estate Cartel runs Canada.

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Oracle

Plus BIV has taken the story offline. Can’t let Canadians know the truth.

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Best place on meth

Nope, it’s still there.

And this image makes me want to vomit and then get violent.

https://cdn2.i-scmp.com/sites/default/files/styles/980×551/public/2016/08/30/chinacanadaflagscreditshrinkinyevgeny.jpg?itok=o3wXfWmU

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bullwhip29

Clark’s exit opens opportunities and temptation for NDP to call election
http://vancouversun.com/news/local-news/clarks-exit-opens-opportunities-and-temptation-for-ndp-to-call-election

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Best place on meth

Horgan had better not be tempted to call an election.

He’s been given a mandate with training wheels by the electorate with the stipulation that he runs the province with the Greens holding him accountable.

If he goes back on his word to rule for 4 years with a coalition it could backfire on him and we’ll be stuck with Premiere Fat Bastard until 2021.

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bullwhip29

the PM and Horgan are doing the helicopter tour today so you can bet Krusty and the Libs will also do/say something to deflect some of the attention back to them…or at least that is what I am hearing. perhaps some sort of a heartfelt excuse for resignation from Clark or setting stage for new leader like Diane Watts. This will also be a convenient time for Trudeau to put the screws to Horgan on the pipeline issue given that the province is burning to the ground, the LNG dream is dead and the largest component of the BC economy, the housing market, is heading over a waterfall

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bullwhip29

>>> or maybe the inevitable is finally about to take shape? if someone like Lee takes the reigns, Horgan and the NDP will get wiped off the map the next time voters head to the polls

Why B.C. Liberals might lean on Michael Lee to be their next leader after Christy Clark
http://www.straight.com/news/942281/why-bc-liberals-might-lean-michael-lee-be-their-next-leader-after-christy-clark

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bullwhip29

Verdict on B.C.’s year-old foreign-buyer tax still up for debate
https://www.theglobeandmail.com/news/british-columbia/verdict-on-bcs-year-old-foreign-buyer-tax-still-up-fordebate/article35838332/

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Diadora

WTF: 10-year Canadian visas for Chinese hit almost 400,000.
https://www.biv.com/article/2016/7/ten-year-canadian-visas-chinese-hit-almost-400000/
Not forgetting Trudeau recently opened up ‘offices’ in various Chinese cities to help fast track things.

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Best place on meth

Fucking disgusting.

We’re being overrun.

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Just me

As a proportion of the population of Canada, this is an insane number. If correct, I think there should be a frank and honest discusssion about why on earth do we need this magnitude of immigration.
Also, next election our elected federal politicians should be accountable for it.

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Just me

By the way, in Vancouver there are many “dads” who use the multiple entry visa to elude proper taxation of their world income, while their spouses and kids reside in Canada and live off the dad’s income. This is a fairly common arrangement, and becoming more popular with time.
The party that challenges this arrangement gets my vote, 100% guaranteed.

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Best place on meth

The only hope from the 3 majors – Conservative.

Even they don’t hold much promise, if any at all.

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Oracle

Too late. All the parties infiltrated because the sheep asleep.

Look at BC nDp. Not gonna do anything. Gonna go on summer break.

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patriotz

“there are many “dads” who use the multiple entry visa ”

Are there? This would require the wife and kids to immigrate on their own. How feasible is this for a married couple? My understanding is that the “astronauts” arrive with their families, get PR, and then go back.

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Oracle

Nice to see you are working for Immigration Canada on our dime.

Gonna love it when your grandkids are scrubbing floors of the new elite one day. And people like you made it happen. So naive.

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Oracle

And Patriots, who thebfuck needs PR anymore.

A relative of mine’s wife got a 9 yr visitor visa (who knows why not 10??). Her kid is enrolled in school here as a foreign student.

She can only be here 6 months at a time so she has to leave the country and can really come back the next day. She usually heads back for a few weeks every 6 months to reset the visa. Live stream here 10 months of year.

And husband runs sizeable operation back home.

Who needs PR??

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Just me

Wrong. Thousands of PR cards have been returned. Taxes are the issue. Residence is seen as an obstacle to the free flow of money. Do your research.

Children and wives can have OR even if dads don’t. One scenario: child comes as student, gets PR eventually, sponsors mum. Ask people at UBC how many thousands such cases exist.

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Shut It Down Already

Why would we need to ask UBC, you surely have a source for your opinions that you can cite?

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Oracle

Lots of people getting very rich off real estate. They cunningly seized power. The ‘civilized debaters’ are being left behind.

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Combat roach

Clusterfuck, it is over 10% of entire Canadian population. The biggest “legal” infantry that could easily occupy Canada within days in combination with already deployed troops. Unbelievable, what kind of morons have allowed this shit to happen?

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Best place on meth

The globalist frenchman who want’s to destroy Canada is allowing this.

Not only allowing it, but encouraging it.

His father hated Canada and so does Jr.

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Shut It Down Already

400,000 is not 10% of the country’s population. Good grief.

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Abdul Lahazi

Additionally, in 2015, Canada received 594,897 applications for temporary resident visas from Chinese nationals. There was also a nearly 95% increase in study permits issued between 2010 and 2015 to Chinese nationals.

Canada is done for. Finished. Toast.

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Oracle

There is nothing they can do now. Rents are going to skyrocket over the next few years completely detached from incomes.

I was hoping the NDP shocks the system temporarily so people who understand what is going on can buy.

Then up and away for rents.

The politicians and burearats that allowed this should be held accountable with serious jail time.

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Oracle

Looks like the NDP fuckheads aren’t doing anything either because they in it for themselves.

Only civil unrest gonna stop this bullshit. But most renters are too dumb to figure out what’s going on.

That part of me says let these dumb fuckers become homeless.

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BubbleTea

Poll: 38 per cent said Canada takes in too many immigrants. 13% thinks currently accepts too few immigrants.
https://www.theglobeandmail.com/opinion/editorials/does-canada-need-more-immigrants/article31975492/
Why is the Liberals and T2 opening the floodgate for China?

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Shut It Down Already

You missed out the important bit – the majority think the current numbers are about right.

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southseacompany

“Covered bonds: the European link to Canada’s house price boom”, Financial Times

https://www.ft.com/content/e692a116-71f1-11e7-93ff-99f383b09ff9

“Last summer, Canadian authorities in Vancouver became so concerned about the flows of Chinese money into their housing market that they introduced a new tax on foreign buyers.”

“There is, however, another, less commonly discussed flow of European money into the Canadian market — one that operates through the obscure machinery of bank lending, subtly linking homes in Toronto, Vancouver and Montreal to officials in Frankfurt.”

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patriotz

“Canadian authorities in Vancouver”

Yet another foreign publication that can’t be bothered to get simple facts right.

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southseacompany

“Opinion: It’s time for a rethink on taxing housing wealth”. Vancouver Sun
http://vancouversun.com/opinion/op-ed/opinion-its-time-for-a-rethink-on-taxing-housing-wealth

“Take the example of two couples, both earning $80,000 per year. Couple No. 1 bought a Vancouver home 10 years ago, thanks to a down-payment contribution from a grandparent. Their home sits on a lot that has since been rezoned to allow for an apartment tower, and is consequently now worth more than $10 million.”
“Couple No. 2, meanwhile, has been renting over the same period. They’ve been trying to save a down payment, but each year price increases have outpaced their ability to save.”
“When it comes to paying for things like medical care and other social programs, our tax systems treat these two couples essentially the same, despite the vast differences in wealth and socioeconomic potential.”

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Shut It Down Already

How could price increases impact their savings rate?

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Just me

It’s called a wealth effect. And yes, people with vastly different amounts of wealth have vastly different sacking rates.

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patriotz

Yes poor people are more likely to lose their jobs. Watch out for that spell checker. 🙂

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patriotz

Wealthier people generally have had a higher savings rate for a long time.

However the housing bubble has turned this on its head. The higher house prices go, the less homeowners feel the need to save, because they see their house as their retirement plan.

But unlike real wealth which provides income as long as it’s owned, bubble wealth provides returns only when it’s sold.

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Best place on meth

Foreigners buy record number of U.S. homes despite fears of immigration crackdown

http://www.latimes.com/business/la-fi-foreign-buyers-20170718-story.html

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Shut It Down Already

“Still, even with all that growth, foreign buyers only accounted for 5% of all previously owned home sales during the 12-month period, up from 4% in the prior survey.”

Source: Your own link

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patriotz

The NAR’s definition of “foreign buyer” includes legal immigrants who have been in the US less than 2 years. See page 3.

https://www.nar.realtor/sites/default/files/reports/2016/2016-profile-of-international-home-buying-activity-06-06-2016.pdf

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history

this article is three months old,
https://www.northernontariobusiness.com/industry-news/mining/ring-of-fire-junior-taps-china-for-development-cash-598129

Considering the Ring of FIREs proximity to Hudsons Bay, and what we know about the origins of Hudsons Bay
https://www.sott.net/article/357709-Of-Flash-Frozen-Mammoths-and-Cosmic-Catastrophes

…makes for interesting reading

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history

http://www.china-invests.net/index.aspx

no trade fairs or exhibits planned in August. Why is that?

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Harry Wang

Man takes “Upskirt” picture at Richmond Oval T&T location

http://imgur.com/a/mvkrk

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Combat roach

Spaceshit at work?

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bestplaceonearth

best place on meth, did you do it?

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Diadora

Rich Coleman said it best. “We should never FORGIVE what Christy Clark has done for BC… I mean we should never FORGET….”

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Bestplaceonearth

He is right. She left BC with Lowest unemployment rate in the country. Just watch the social list burn this province debt.

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Just me

Yes. We generated a lot of Starbucks and temp jobs. Just what we need to afford the cost of life in the city.
Give me a break.

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squeak

Or…There was what appeared to be a large drug bust in my neighbourhood ( a beautiful area), with police dogs and police carrying machine guns (looked like it). Drug manufacturing careers for the young? Tax free and lots of money without a 8 to 5 obligation. Does not seem the gov has turned a blind eye to this compared to the billions of illegal foreign moolah zapped in to this banana republic.

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Best place on meth

When Fat Bastard shed those tears about her leaving, it was like watching a scene from one of the great mobster movies.

No joke, the Liberals ran this province the way Putin runs Russia.

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Best place on meth

Commie scum respond:

China is betting that U.S. President Donald Trump won’t make good on his threats of a military strike against North Korea

https://www.bloomberg.com/news/articles/2017-07-29/china-bets-trump-won-t-resort-to-military-strike-on-north-korea

It’s pretty damn racist to use the word “betting”, isn’t it?

Stereotyping the sinomen as some kind of gamblers.

Rude.

Just rude.

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Shut It Down Already

You mean the toddler president who said a North Korean ICBM “Won’t happen!” is now looking for anybody to point the finger of blame at, whilst simultaneously claiming to be an expert dealmaker? What a joke.

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Bestplaceonearth

This blog is becoming a blog for the extreme. Shut it down.

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Best place on meth

What? And deprive us all of your many witty, insightful comments?

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Just me

People like you and SIDA have become the extremes in Vancouver. Most reasonable people can by now see through you and understand that there is an issue with legality, corruption and inflows of dirty money into out RE market.
The more you play the race card and insult other posters, the more people realize your game is up.

This is about money. Race is a sideshow.

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Shut It Down Already

Calling out when morons here use racial slurs is hardly “playing the race card”, dumbass.

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Just me

Resorting to profanities is harfly a sign of strength.
Anyway, the more you try to defend the indefensible behaviour of “foreign investors” the more you show your cards.
People are starting to realize the game that is being played. And they are fed up.

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Shut It Down Already

Stop trying to make yourself a victim.

And as for “indefensible”, you seem to have an odd moral compass as you’re quite happy to support others when they’re citing neo-Nazi websites and hurling racial slurs around (on a real estate blog no less).Yet you whine and pretend that you’re being treated unfairly, as if your opinions are somehow to be treated seriously. Pathetic.

You will not ever call out the foul behaviour here because you silently condone it. And what’s worse is you think nobody has noticed.

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Just me

I think you need to chill out man. Have a glass of wine and watch the fireworks. I am sure that Chinese millionaires are not as stressed out as yourself.

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Bestplaceonearth

Haters will hate. You have too much jealousy to the successful people. Whoever in violation of the law, there will be appropriate enforcement to deal with it. Blaming others on your misfortune leads you nowhere. If you wanna make real change, run for office.

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Best place on meth

Thanks Victor Wong, you fucking loser.

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Bestplaceonearth

You know why people swear right? It is the lack of communication skills, and lack of words to express thoughts. Victor Wong is a successful realtor. Talk to him, he might be able to help your family .

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Shut It Down Already

Resorting to profanities is harfly a sign of strength.

Isn’t that right Just Me, you fucking hypocrite?

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Combat roach

I always have outstanding purgative enlightenment whenever yours traditional wisdoms speaks. You are definitely unique, high-end imbecile.

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Bestplaceonearth

You are so smart, why are you still paying tent? Oh wait , you are going to blame somebody.

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Shut It Down Already

Another random sequence of words from the trollbot. Did you malfunction?

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Mick Murphy

Rodents Feasting (T&T Supermarket on Abbott near Tinseltown)

https://www.reddit.com/r/vancouver/comments/6qesjt/rodents_feasting_tt_supermarket_on_abbott_near/

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Combat roach

It’s alright, they are domestic animals in some advanced cultures and have holly status beside being outmost delicacy.

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Best place on meth

In honour of Christy Clark’s resignation and future incarceration, let’s take a moment (or several hours) to review the numerous examples of scandals, lies, boondoggles, crimes, corruption, cronyism, manslaughter, cover-ups, deceit, delays, incompetence, payola, greed, oh god….I could go on and on…

Let’s just review, shall we?

https://thetyee.ca/Opinion/2017/04/04/BC-Liberal-Falsehoods-Scandals-Clark/

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Just me

Cheers to that.
She is out (although she is like the Terminator….I always fear she might reincarnate into another political life).

Who knows, if the BC Liberals elect someone honest (that rules out people like Andrew Wilkonson and Mike DeJong) I might just vote for them next round.

It all depends on how well the NDP does on housing: if they tackle Chinese money inflows and reduce their influence, kudos. If not, good bye…..

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bullwhip29

there is an outside chance the libs have a ringer of a replacement ready and waiting to pounce and are pulling a rope-a-dope manoeuvre hoping the NDP calls for a snap election and gets caught with their pants down. we’ll see…

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BubbleTea

Hope it’s true: CRA Targets Speculators of Vancouver Real Estate
http://vancitycondoguide.com/cra-targets-speculators-vancouver-real-estate/
It’s believed many foreign buyers who don’t principally live in Canada, but claim they do, are evading a 25% capital gains tax on the sale of homes.

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Diadora

“Strong foreign demand despite new tax”
In spite of a new 15% tax on ­foreign buyers levied by the provincial govern­ment of British Columbia since last August, demand from foreign ­buyers has been resilient, says ­Fehon, who estimates that 35% of JOYCE’s ­buyers are from overseas.
http://www.theedgemarkets.com/article/westbanks-luxury-residences-vancouver-have-global-appeal
More taxes and crackdown please.

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Abdul Lahazi

These would be pre-sale flippers where the 15% tax does not apply.

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history

birth rates in these cities are very low now. Proc is simply fufilling its duty to the UN.

Fehon….. “When considering a purchase in Vancouver, most of our clients do not compare it with ­another property in Vancouver,” he says. “They compare it with a purchase in ­London, Los Angeles, New York, Singapore, ­Tokyo, Sydney or Melbourne.”

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Abdul Lahazi

Dog rescued from Mercedes at Lougheed Mall, on a day that hit 22 degrees:

http://globalnews.ca/news/3633883/dog-rescued-lougheed-mall-hot-day/?utm_source=Article&utm_medium=MostPopular&utm_campaign=2014

Late model Merc. Toy dog. It adds up to… you guessed it… Chineze driver. Probably female.

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history

Strange she would keep the dog in the vehicle. Pet owners have considerable power in society today. They can take there animal just about anywhere. This is the owners sin, not exercising the ‘richer than you think’ meme. Observe anyone with a pet, and the personal power boost it gives them over non pet owners. It comes with home ownership, since their is a positive correlation between the two. Merc driver needs to get with the program, she is insulting the power creed of passive debt pig nation.

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Bestplaceonearth

You need med and medical help. Get it soon.

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Combat roach

I am sure you drink hot water and eat a lots of garlic.

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Shut It Down Already

You’re pretty dumb, even for somebody who enjoys neo-Nazi websites.

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Abdul Lahazi

I may be mistaken. It might have been one of those money-laundering, greedy, materialistic, ostentatious Norwegians.

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Diadora

While Australia is warning China to keep out of its affairs, T2 has open the door open wide for China.
“The Sidewinder Project concluded in the late 1990s that China remains one of the greatest ongoing threats to Canada’s national security and Canadian industry.”
http://vancouversun.com/opinion/columnists/douglas-todd-does-chinas-money-threaten-canadas-sovereignty

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patriotz

“While Australia is warning China to keep out of its affairs”

Is that a joke? Oz allows foreign political donations (i.e. from China) at the national level. Only BC does in Canada, and that will soon end. Oz has a free trade deal with China, in effect for over a year now. There is far more Chinese investment (RE and otherwise) in Oz than in Canada. And so on.

Australia’s political donations system is a joke

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BubbleTea

Say it isn’t so, now it’s mayor moonbean…
Mayor Gregor Robertson denies Vision Vancouver too closely tied to developers
http://globalnews.ca/news/3631915/mayor-gregor-robertson-denies-vision-vancouver-too-closely-tied-to-developers/

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Abdul Lahazi

There is so much money to be made by all involved that it is impossible not to be influenced by the developers.

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Best place on meth

It’s not that hard, just make union and corporate donations illegal at all levels of government and put a $100 cap on individual donations.

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history

The trades are getting a bit stretched. I would hazard a guess that developers are minding who has the workforce to start projects, let alone who has the manpower to finish projects.

Greedy FIRE pigs dont factor manpower efficiently. They suddenly realise the slaves arent there for them, then BANG, they get a margin call.

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history

and if you’re wondering Who are the trades… they aint PROC squelers, too busy racing Ferraris and giving ICBC pelican brief (lawyer grief)

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paulb

New
287
Price Change
120
Sold
322
TI:9864

http://www.clivestevepaul.com

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Best place on meth

322 sales today or 125?

http://www.robchipman.net/

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BubbleTea

I got a feeling its two days worth (yesterday and today).

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BubbleTea

More corrupt attendee for T2’s cash-for-acess event.
China accuses Canadian-Chinese tycoon of major role in pyramid scheme.
https://www.theglobeandmail.com/news/politics/china-accuses-canadian-chinese-tycoon-of-major-role-in-pyramid-scheme/article35825459

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KickThemOut

Christy Clark resigns! Voluntarily? Or Kicked out?

http://www.cbc.ca/news/canada/british-columbia/christy-clark-resigns-as-leader-of-b-c-liberal-party-1.4226286

Either way, NDP/Green just got at least 6 months, if not a year reprieve!

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