Friday Free-for-all! August 25th 2017

It’s the end of another work week 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 links to kick off the chat:

RE based policy painful no matter what
Interest rate normalization
Sharp reversal in Toronto
Tougher penalties for Realtors?
Foreign buyer ban for farm land?
Retail sales slow but hike still expected

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
Guest
bullwhip29

Construction company Aecon reportedly considering a sale
https://www.theglobeandmail.com/report-on-business/construction-company-aecon-reportedly-considering-a-sale/article36088237/

“the people, who asked not to be identified because the matter is private said the company could attract interest from Chinese bidders”

bullwhip29
Guest
bullwhip29

for those not up to speed on the matter, Aecon Group Inc. is Canada’s largest publicly traded construction company, providing a range of services to private and public sector clients across its three core segments of Infrastructure, Energy, and Mining.
https://en.wikipedia.org/wiki/Aecon

Yikes
Guest
Yikes

Aecon selling out at the top, no different than Grouse or Chvron selling . Writing on the wall the smart $ is cashing in

bullwhip29
Guest
bullwhip29

not exactly the same thing. not only would HAM be buying everything, they’d also be instrumental in the spending of our tax dollars in addition to the planning and building of key infrastructure and likely other mega projects that will begin to appear out of thin air regardless of whether they serve any real purpose or not. lastly, take a guess where all the workers will come from?

KickThemOut
Member
KickThemOut

Price slump, tight cash wreak havoc in Canada’s top housing market

http://ca.finance.yahoo.com/news/price-slump-tight-cash-wreak-051804430.html

KickThemOut
Member
KickThemOut

Looks like pedophilia is alive and legal(? WTF ?) in India….maybe that’s why we are having sex ed in kindergarten, to prepare child brides for all the Indian men here?

http://pulitzercenter.org/reporting/ties-bind-child-marriage-modern-day-india

KickThemOut
Member
KickThemOut
KickThemOut
Member
KickThemOut

The latest analysis on mortgage regulations changes B-20 by OSFI by Garth
http://www.greaterfool.ca/2017/08/24/the-big-hairy-deal-2/

Harry N
Guest
Harry N

“There is no longer any excuse for making the same mistake with economic theory. For more than a century, the public has been warned, and the way forward is clear. It’s time to stop wasting our money and recognise the high priests for what they really are: gifted social scientists who excel at producing mathematical explanations of economies, but who fail, like astrologers before them, at prophecy.”

By fetishising mathematical models, economists turned economics into a highly paid pseudoscience

The new astrology

https://aeon.co/essays/how-economists-rode-maths-to-become-our-era-s-astrologers

history
Guest
history

bookmarked.
be careful of a lot of Objective analysis of anything these days. There’s definitely a time for it tho. What happened to Adams in 1914, also played out with Ebertin. We live now in an era where the Subject is the focus, so, the opposite of Math astr*

While im here, if you’re curious about the after affects of the Solar Eclipse, Eclipse cause Wobbles. Mars will intersect the eclipse degree on Sep 2-5.

history
Guest
history

same comment and link posted at Wolfstreet. You’ve been busy.
https://wolfstreet.com/2017/08/25/uk-london-house-price-bubble-bust/

Pay attention to energy discharge following a Solar Eclipse.
https://javed22.blogspot.ca/2017/08/solar-eclipse-and-hurricane-harvey.html

Abdul Lahazi
Guest
Abdul Lahazi

South Korean court sentences Samsung heir to 5 years prison :

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=f90949&mobile=false

Here’s how it’s done in Asia… bribery.

KickThemOut
Member
KickThemOut

Should have to come Canada instead…would only get 5 years probation + community service at most.

Diadora
Guest
Diadora

If you bribe the politicians enough in BC, you get to sit on the advisory councils. Ask Krusty.

Abdul Lahazi
Guest
Abdul Lahazi

Tolls will be eliminated for Port Mann and Golden Ears Bridges on September 1st.

http://www.news1130.com/2017/08/25/tolls-eliminated/

More help for commuters in the burbs.

YVR
Guest
YVR

“The province will now transfer the bridge debt into general debt. There will be discussions with TransLink about what will be done about lost revenue.”

Yay free! Good luck Translink!

Abdul Lahazi
Guest
Abdul Lahazi

And the PM bridge did not need replacing and the GE was not needed at all. Both were a total waste of money.

KickThemOut
Member
KickThemOut

Translink need to be disbanded and we should have private corporations competing in the mass transit marketplace. Government and monopoly never mix for good of average joe.

Shut It Down Already
Guest
Shut It Down Already

And almost immediately the lesser travelled routes would be cancelled.

KickThemOut
Member
KickThemOut

And that’s a bad thing if it means BPOM, Abdul, etc are confined to their own little island?

Realistically, it just means the lesser travelled routes will have higher prices, or alternative methods might be found. Any company would want good coverage or else it wouldn’t have enough people using it. There are a lot of lesser travelled routes in the airline industry as well but they are still being served by smaller companies using smaller planes with cheaper costs, rather than big airlines. People are still paying much cheaper fares than if gov’t run a national public airline.

Whistler or Bust?
Guest
Whistler or Bust?

Money out of thin air courtesy of the NDP!

Why didn’t anyone think of this before?

KickThemOut
Member
KickThemOut

Your stupidity, that’s what. Watch how money is created – money is created out of thin air. Oh sure, there might be coins & bills for cash…but those are basically color worthless papers if there isn’t a threat of force to make them acceptable. All digital currencies are all basically and literally created out of thin air. The only real money is gold, silver, and lessor extent platinum and copper.

Shut It Down Already
Guest
Shut It Down Already

Try settling a tax bill with gold.

KickThemOut
Member
KickThemOut

Because of the threat of force, and that gov’t don’t want to use gold & silver since they can’t print and inflate.

patriotz
Member

The debt on both bridges is higher today than when they were built. In other words, the tolls have not even been paying for the interest and operating costs. This shows that the economic model was faulty from the outset. I’m all for road pricing, but it has to be applied to every km driven equally, otherwise an incentive is created to drive the long way to avoid the tolls.

YVR
Guest
YVR

“In other words, the tolls have not even been paying for the interest and operating costs.”

And with no tolls it will be better? NDP logic.

Someone has to pay and it won’t be all those rich Chineeze driving high end cars, who pay no taxes, commuting to their Fraser Valley farm land. It will be the poor stiffs driving to work who will now pay it on income taxes but they not only pay their tolls but the Chineeze dudes tolls, in addition to tourists tolls, etc.

Shut It Down Already
Guest
Shut It Down Already

Yes, that’s the whole point – getting people to drive the long way in order to avoid the bottleneck. The tolls will be higher on the worst areas.

Not everybody needs the quickest or shortest route.

kabloona
Member
kabloona

They should have tolled *all* the bridges at a lower rate…..just ridiculous congestion in Surrey/Delta/New West with everybody piling onto the toll-free Patullo or Alex Fraser to avoid the tolls…

Abdul Lahazi
Guest
Abdul Lahazi

North Delta is grid-locked on weekday mornings with traffic coming in from Surrey to get onto the Alex.

kabloona
Member
kabloona

Last year I had occasion to take a cab from Surrey to the Airport via Alex Fraser….. I thought grabbing a cab at 6:30 AM would be okay……took thirty minutes to get to the bridge deck. Just crawling west thru Delta to get to the on-ramp……pathetic.

Best place on meth
Member
Best place on meth

“I’m all for road pricing, but it has to be applied to every km driven equally”

Why should the driver of a Smartcar pay the same per km rate as the driver of a Hummer?

We already have a much fairer road pricing system…gas taxes. Raise them if necessary.

patriotz
Member

I meant equal for every km, not equal for every vehicle. Definitely larger vehicles should pay more, and increasing the gas tax is exactly the kind of thing I was talking about.

bullwhip29
Guest
bullwhip29
why should someone driving an SUV with 4 passengers pay more than a single person driving a smart car? they will soon find out that none of these options are a silver bullet of sorts and will soon revert to soaking home owners once again. with the loonie a bit stronger, the gas lines at costco in bellingham are already backing up. more and more people are also driving EV and hydrid vehicles and taking advantage of the increasingly more valuable parking privileges that come along with it. many people were already bypassing tolled routes so nothing really changes in the short term. at some point people out in the maple ridges of the world will have to come to grips with the costs and inconvenience of living so far away and realize that they are not entitled to a… Read more »
YVR
Guest
YVR

“Tolls will be eliminated for Port Mann and Golden Ears Bridges”

This should also give housing a boost in Maple Ridge, Surrey and the Fraser Valley. I can see the real estate ads now – NO BRIDGE TOLLS. The NDP are going to pump this bubble to its max.

YVR
Guest
YVR

I have to say Weaver is really impressing me. He gets it.

“It’s unfortunate that the government has decided to proceed with this reckless policy,” says Weaver.“ Everything’s wrong about this announcement. It’s basically pandering to a couple of seats south of the Fraser and in the Valley. And frankly, the rest of British Columbia’s paying for this.” “It is disappointing that the first major measure that this government has taken to make life more affordable for British Columbians will add billions of dollars to taxpayer-supported debt. Moreover, making such a massive addition to our debt risks raising interest on all debt, which ultimately prevents government from being able to invest more in important social programs.”

kabloona
Member
kabloona

Spoken like a man who has no seats South of the Fraser to which he might like to pander…..

😉

patriotz
Member

” And frankly, the rest of British Columbia’s paying for this.”

They should pay for this, because it’s the provincial government that made the decision to tear down the existing free bridge . I notice that the new Bill Bennett bridge in Kelowna, which was built by this government and replaced the old floating bridge, is free.

Also I have to say that if the NDP broke their election promise on this one, I’m sure you’d be gloating about how they’re lying again.

patriotz
Member

“this government” = BC Liberals

bullwhip29
Guest
bullwhip29

we’ll see how far supposedly saying the right things gets him in this cesspool of corruption

tictoc
Guest
tictoc

Last time I checked the Port Mann is part of the Trans Canada Hwy….so my opinion is that no tolls mean not just happy residents south of Fraser but less hassle and expense for tourists and visitors from out of town as they drive in to fill hotels and shop and eat out at restaurants.

Abdul Lahazi
Guest
Abdul Lahazi

Same can be said for the ferry system.

bullwhip29
Guest
bullwhip29

tolls are not being eliminated, but rather deferred or maybe clumsily shifted to another part of the balance sheet. idiots that fall for these kinds of parlour tricks deserve what’s coming to them.

Abdul Lahazi
Guest
Abdul Lahazi

‘Painful no matter what happens’: economists worried by B.C.’s financial reliance on real estate:

http://www.cbc.ca/news/canada/british-columbia/real-estate-economy-1.4260288

KickThemOut
Member
KickThemOut

I thought bears are all prepared and just waiting to inflict some pain?

Whistler or Bust?
Guest
Whistler or Bust?
Abdul Lahazi
Guest
Abdul Lahazi

And yet the official inflation rate is under 2%

KickThemOut
Member
KickThemOut

Is that core CPI? headline CPI? trimmed mean CPI? make-up what we want CPI? or the real CPI? And it’s also CPI+2% or so for max allowable increases. So 2% official made-up CPI + 2% max increase = 4% at least in allowable increase.

Shut It Down Already
Guest
Shut It Down Already

Did you post that quote yet?

Abdul Lahazi
Guest
Abdul Lahazi
Shut It Down Already
Guest
Shut It Down Already

I’m referring to your previous accusations, dummy.

Abdul Lahazi
Guest
Abdul Lahazi

It’s hard to tell because you are all over the place.

Shut It Down Already
Guest
Shut It Down Already

So now you know what I’m referring to prove that you’re not a fucking liar.

franko
Member
franko

Our NDP liberators at work?

KickThemOut
Member
KickThemOut

WTF? A Chinese propaganda film in IMAX theatre instead of Terminator 2 3-D? Or Dunkirk? Or Wonder Woman? Or Spiderman?

https://www.cineplex.com/Showtimes/any-movie/silvercity-riverport-cinemas?Date=8/25/2017

stagnate
Guest
stagnate

is the outfit that collects the tolls unionized? how does the ndp deal with that. anyway we’re in a spend and print era, the ndp read that well.

YVR
Guest
YVR

“we’re in a spend and print era”

The provincial NDP only have the power to spend. No power to print. Everything gets paid with higher taxes and/or higher debt.

Best place on meth
Member
Best place on meth
stagnate
Guest
stagnate

yvr- I’m talking about public perception, financially the public doesn’t really differentiate between levels of government. the public had little appetite for the “we don’t have the money” line. a byproduct of living in a time where money increasingly seems to come from mysterious means or non productive means

YVR
Guest
YVR

“I’m talking about public perception”

Yes the public want everything for free and expect someone else to pay. The NDP sucked people in with the free bridge tolls and things like $10 day care when they were elected. Everything for free someone else pays, right? Nope, taxes go up for the middle class, and people see the debt skyrocket and next election the NDP are thrown out. Like putting things on a credit card. At some point you have to pay for it, plus interest, then reality sets in.

paulb
Member

New
115
Price Change
35
Sold
175
TI:9678

http://www.clivestevepaul.com

Best place on meth
Member
Best place on meth

Thanks to Trump, the USA has had a 50% DECREASE in illegal border crossings.

Thanks to “The Turd™”, Canada has had a 1,000,000,000,000% INCREASE in illegal border crossings.

I would like the worthless leftist scum to tell us how The Turd is a better leader than Trump.

Try to do so without attempting to justify breaking the law (ie: “there’s no such thing as an illegal person”).

Thank you in advance, worthless leftist scum.

Shut It Down Already
Guest
Shut It Down Already

All countries have protocols for handling asylum seekers and refugees. Now, think for a moment about what you posted and, if you can, try to imagine why people are so desperate to leave the US after a change in presidency whereas previously they were more likely to want to enter it.

Abdul Lahazi
Guest
Abdul Lahazi

Thank you, worthless leftist scum. These refugees are for the most part criminals who know they will be deported from the USA. So they come to Canada at the invitation of our traitorous PM. Trump is trying to protect the interests of the US while Turdeau is selling out Canada to criminals. If you cannot see this you are blinded by your own ideology.

Shut It Down Already
Guest
Shut It Down Already

50% are getting deported from Canada and they’re not being invited, dummy.

Are you able to quote anybody correctly, I wonder?

YVR
Guest
YVR

“they’re not being invited”

Trudeau should probably stop telling desperate refugees that everyone is welcome in Canada

http://www.cbc.ca/news/opinion/trudeau-message-to-refugees-1.4051008

Best place on meth
Member
Best place on meth

The drama teacher is well on his way to destroying Canada.

Shut It Down Already
Guest
Shut It Down Already

Dude, that’s not an invitation. There are official processes involved, as you own link points out. In fact that’s the entire point of your link – the doors aren’t wide open.

Abdul Lahazi
Guest
Abdul Lahazi

You are out in left field on this one dufus. “Left field”… get it?

Shut It Down Already
Guest
Shut It Down Already

It’s cute how you imitate others’ posting style, almost as if you have no mind of your own.

YVR
Guest
YVR

Because most illegals, terrorists and criminals don’t like law and order. They do like like a society that panders to them because that is the politically correct thing to do in Canada since the Turd was elected. The Turd tweeted everyone welcome and they have been flooding over the border illegally ever since. This is not the best and brightest coming. Trump is laughing. Thanks Turd.

Shut It Down Already
Guest
Shut It Down Already

Haha, you took part of his name and turned it into “turd”. You’re such a fucking genius.

Best place on meth
Member
Best place on meth

As I expected, shit it down responded to my call for “worthless leftist scum” to answer.

Fucker is amazingly stupid but at least knows his place in society.

Shut It Down Already
Guest
Shut It Down Already

How many others remain after you and your putrid crew turned this into an alt-right blog? How many readers do you honestly think you’re addressing?

would-be buyer
Guest
would-be buyer

I’m thinking of running. Who is with me?

https://www.affordable-housing-party.org

history
Guest
history

do i get to stay in my vehicle?

Diadora
Guest
Diadora

How a murky company with ties to the People’s Liberation Army set up shop in B.C.
http://vancouversun.com/news/local-news/how-a-murky-company-with-ties-to-the-peoples-liberation-army-set-up-shop-in-b-c
China Poly has “earned a reputation for bending the rules” and “providing arms to despots.”
“was sanctioned by the U.S. State Department, which alleged Poly sold items in contravention of a weapons proliferation ban involving Iran, Syria and North Korea.”

Abdul Lahazi
Guest
Abdul Lahazi

Skyrocketing real estate has malls putting homes, not cars, in parking lots:

http://www.cbc.ca/news/canada/british-columbia/lower-mainland-mall-towers-burnaby-surrey-coquitlam-1.4260054

Headline should read: Greedy mall owners bribe cities for zoning changes so they can build ugly condo towers for Asian real estate speculators.

bestplaceonearth
Guest
bestplaceonearth

yeah, they should just sit on the fat arses and do nothing, hoping the world would feed them three square meals a day. greedy bastards!

Abdul Lahazi
Guest
Abdul Lahazi

Rather than being cheap opportunists looking for a quick buck and profiting from the backs of taxpayers who paid for the rapid transit they should be good corporate citizens and provide the goods and services to people that actually live here.

bestplaceonearth
Guest
bestplaceonearth

they do pay their dues to built park, community facilities, taxes, not to mention jobs. there is no free lunch. didn’t the no-deal-party just announced freebie, and that was not enough to please the freebie lovers?

Abdul Lahazi
Guest
Abdul Lahazi

They do not pay the freight in any meaningful way with DCCs. Fact is there would be no opportunities for them to redevelop their parking lots without the taxpayer billions spent on the rapid transit systems that makes their property so valuable.

KickThemOut
Member
KickThemOut

Exactly! They should build multi-level parking lot instead. Costco Richmond is a f*ing gong show on weekends. Stop the war on cars!

bullwhip29
Guest
bullwhip29

that costco is an effing gong show every day. an aberdeen mall style parkade is not the answer, it would only make things worse. approx 1/4 to 1/3 of the cars there are not even owned by costco customers, but rather people using this lot as a Cda Line park and ride. also, the policy of bringing your entire entourage along with you (as the only paying member) and having to deal with the extra cars, additional riff raff at the food sampling tables and slowdowns at the cashier (to split bills) should be addressed too

Joe condo
Guest

Bring on the supply! The harder they come they harder they fall.

Joe condo
Guest

PS. And the development industry says we’re running out of land. Lots of parking lots to build on.

bestplaceonearth
Guest
bestplaceonearth

you are new here, aren’t you! i have heard this phrase since 2004! fast forward, bears now are priced out of even one bedroom condos.

Joe Condo
Guest

Started a couple of years earlier.
https://www.gobankingrates.com/personal-finance/september-11-attacks-destroyed-u-s-interest-rates/

Massive money supply expansion and resultant asset inflation for a decade and a half. Yep, that is long and unprecedented. Who would have predicted central bankers would have intervened so much and for so long.

But the nadir was hit a year for so ago and interest rates are now rising. May take another decade to significantly contract the money supply.

In the meantime – keep that supply coming!

history
Guest
history

interesting link, thanks for posting.

Oct 7, 2001 USA bombs A-stan, begins operation Enduring Freedom.

but today, the USA is out of ideas on A-stan
http://www.politico.com/magazine/story/2017/08/22/america-is-out-of-ideas-in-afghanistan-215516

the country is losing its vitality… confused, and prone to failures.

KickThemOut
Member
KickThemOut

Yes, we should ban all condo development, no more ugly towers and tiny units! Homes are for living in and they should be kept as they are! No more condo towers! No more condo towers!

bullwhip29
Guest
bullwhip29

every underutilized patch of land, regardless what it is currently zoned for, is slated for RE development…period.
any main artery in gr vanc, farms, gas stns, churches, parkades, school yards, single story commercial space and every other contaminated piece of industrial wasteland will be repackaged and slickly marketed as the next hot neighborhood. where there were previously detached homes, you will see condos. where there was previously an old dilapidated apt bldg will give rise to new towers and so on and so forth…

Party on
Guest
Party on

Latest household credit numbers for Canada (to the end of July, 2017) from the Bank of Canada:

http://credit.bankofcanada.ca/householdcredit

Latest business credit numbers for Canada (to the end of July, 2017) from the Bank of Canada:

http://credit.bankofcanada.ca/businesscredit

UBC in Crisis Mode
Guest
UBC in Crisis Mode
Abdul Lahazi
Guest
Abdul Lahazi

What happens when monkeys get money:
https://www.youtube.com/watch?v=BTHR_omZtXc

Best place on meth
Member
Best place on meth

Looks like chinese racists.

Leftist idiots will disagree, or just not comment (like shit it down the marxist clown) because only white people can be racists and others get a pass.

Proof: Richmond strata takeover.

Shut It Down Already
Guest
Shut It Down Already

Another predictable strawman from you. Anybody can be racist.

KickThemOut
Member
KickThemOut

Talking about yourself again?

Abdul Lahazi
Guest
Abdul Lahazi

Canadians prioritize mortgage payments over other debts, say experts:

http://www.cbc.ca/news/business/canadians-prioritize-mortgage-payments-over-other-debts-say-experts-1.4261141

‘It’s the Canadian dream’: Why homeowners will do anything to make their mortgage payments.
This might not end well.
Some surveys show trouble could be brewing.
A recent poll by MNP Debt found that more than half of those Canadians surveyed couldn’t handle an extra $200 in monthly costs.
“Homeownership is definitely the Canadian dream,” Campbell said. “It’s an obvious financial problem in your life if you have to sell your home if you can’t afford it. And people don’t want to be that person.

Best place on meth
Member
Best place on meth

Credit card and car loan delinquencies are on the rise.

That is a sign of personal finance problems in Canada.

southseacompany
Member
southseacompany

“How the rich get richer – money in the world economy | DW Documentary”, Deutsche Welle Documentary

https://www.youtube.com/watch?v=t6m49vNjEGs

“Exploding real estate prices, zero interest rate and a rising stock market – the rich are getting richer. What danger lies in wait for average citizens? “

Abdul Lahazi
Guest
Abdul Lahazi

Less than 30 seconds in he says about money creation by central banks: “it can’t go on forever it’s a ticking time bomb”.

Harry Wang
Guest
Harry Wang
Best place on meth
Member
Best place on meth

These fuckers are the reason why we have locals who can’t find shelter despite having good jobs.

Thieving, communist vermin. That’s what they are.

No race-baiting drones or globalist politicians will ever make us stop fighting this invasive garbage.

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