Friday Free-for-all! May 3rd 2019

Hey guess what? It’s May already!!

And it’s also almost the first Friday in May and that means it’s definitely time for a new thread.

Friday Free-for-all time!

It’s another one of our usually regular end of the week news round up and open topic discussion threads. So what are you seeing out there? Economic armageddon or boom times galore?

Leave you news links, thoughts and anecdotes in the comment section below and have a glorious weekend!

Sort by:   newest | oldest | most voted
Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!
Specuskeptic
Member

Yay. Friday came early.

Canada is for Real Estate Speculators
Guest
Canada is for Real Estate Speculators

Inside the secret finances behind the housing crisis

https://www.citynews1130.com/2019/05/03/secret-finances-housing-crisis/

Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

From Flips and Flops. Interesting because this is not a crack shack.

From Flips and Flops

Vancouver Real Estate Flip Flops
@VanREflipflops
MASSIVE LOSS COMING ON THIS ONE YEAR FLIP

6007 Dunbar St, Southlands Area, West Side #Vanre

3375 sq ft home, built in 1946, on a 7780 sq foot lot

Listing starts off “ATTENTION BUILDERS AND INVESTORS!”… never a good sign in this crashing mkt

Purchased May 1, 2018 for $2.65M

2019 Assessment value $2.374M

Listed almost one year to the day of purchase for $1.999M, 16% BELOW assessed and $650,000 below purchase price from 366 days ago.

If it sells for that, including transaction and carry costs (assuming it has sat empty) the TOTAL
YEAR FLIPPING LOSS will be $870,000

That’s $72,500 per month or $2,400 per day, and counting

Bubble
Guest
Bubble

The worst is over for Australia housing, according to their realtors:
https://youtu.be/xMIzXlzoLCw

Doomcouver
Member
Doomcouver

Fentanyl is good for you, according to your dealer.

bullwhip29
Guest
bullwhip29

The City of Richmond is trying to stay ahead of destructive foreign insects and plants through education and awareness. Ted Townsend gives us a rundown of the alien invaders that you should be on the look-out for and what you can do to stop them.
https://globalnews.ca/video/5236621/may-is-invasive-species-action-month/

Canada is for Canadians
Guest
Canada is for Canadians

Oh man, the jokes that are in my head over this one …

YVR
Guest
YVR

lo·cust /ˈlōkəst/
noun

a large and mainly tropical grasshopper with strong powers of flight. It is usually solitary, but from time to time there is a population explosion, and it migrates in vast swarms that cause extensive damage

Laibach
Member
Laibach
Locust – What’s that? Locusts swarm the field and eat up all the hard-grown crops. Locusts care only about themselves and leaves nothing for others. Locusts are what locusts do. Whoever acts like locusts is one – of their own choosing. What’s going on? They are here, taking your resources and precious hospital beds of our child-bearing mothers. They are taking over your school places, your babies’ formula, squatting and yelling in your crowded streets. They deface your train cars, slap your doctors, drive up your housing prices, and supply you with shit-polluted water. Our cinemas have become luxury outlets, our corner shops become jewelry chain-stores. They despise you, and you are told to “beg elsewhere” because of them. They say you are taking their handouts. They say you can’t live without them. What are they, if not locusts? One… Read more »
Laibach
Member
Laibach

Broken laundromat due to a shortage of cleaners and dirty laundry, requires service.

“Luxury casino Parq Vancouver’s parent company missed an interest payment on a second-lien loan as it struggles to refinance debt taken on to build one of the largest-ever private developments in British Columbia.”

https://www.bloomberg.com/amp/news/articles/2019-05-03/parq-vancouver-misses-debt-payment-as-casino-seeks-to-refinance

bullwhip29
Guest
bullwhip29

i can’t even begin to imagine all the shady $hit that went behind the scenes to allow this project to move forward in the first place. honestly, it looks good on them but I also have these lingering feelings that somehow another sketchy backdoor deal will be done at our expense to keep this defective toilet bowl of a project alive for longer than any of us really want

Doomcouver
Member
Doomcouver

The party’s over, nothing to see here but toxic debt and sadness.

bullwhip29
Guest
bullwhip29

SCMP: ‘Hard work’ got me into Stanford University, Chinese student in US$6.5 million admission scandal said in viral video
https://www.scmp.com/news/china/society/article/3008787/hard-work-got-me-stanford-university-chinese-student-us65

Best place on meth
Member
Best place on meth

Every time these lying, cheating chinese lowlifes gets caught, they claim they’re the victims.

Anyone from that shithole who has wealth is most likely a crook.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Just another Friday night spouting shit for you, eh?

bullwhip29
Guest
bullwhip29

Chinese teenager Sherry Guo’s parents paid US$1.2 million to get her into Yale. So why haven’t they been charged in US college admissions scandal?
https://www.scmp.com/news/world/united-states-canada/article/3008649/chinese-teenager-sherry-guos-parents-paid-us12

bullwhip29
Guest
bullwhip29

Chinese banks have increased their scrutiny of foreign-currency withdrawals and quietly reduced the amount of US dollars people are allowed to withdraw, tightening the country’s capital controls as the year-long US-China trade war bites
https://www.scmp.com/business/banking-finance/article/3008795/chinese-banks-quietly-lower-daily-limit-foreign-currency

bullwhip29
Guest
bullwhip29

An unregistered nurse admits she was wrong to use “Chinese thinking” during a breast enlargement procedure that killed her boss in a Sydney beauty salon
https://7news.com.au/news/crime/breast-enlargement-procedure-nurse-pleads-guilty-over-sydney-womans-death-c-91759

Canada is for Canadians
Guest
Canada is for Canadians

Analysis: Only 43 Metro Vancouver homes over $7M have sold in past year
All of those sold below asking price, averaging 16 per cent off list, as the region’s high-end homes fail to sell.

https://www.burnabynow.com/analysis-only-43-metro-vancouver-homes-over-7m-have-sold-in-past-year-1.23811268

Oracle
Guest
Oracle

And the very low end? That’s what matters.

Best place on meth
Member
Best place on meth

The high end has been feeding the low end for over a decade.

Now that the high end money is gone, the low end will slowly bleed out.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

The high end does not feed the low end. What feeds the low end is first time buyers gorging themselves on debt because they think real estate always goes up.

Simple Solution
Member
Simple Solution

And the 1st time buyers are learning about debt and reality

Bag it and tag it
Member
Bag it and tag it

The typical first timer buyer, buying on the strength of their own financial situation, all but dried up. Instead Boomers were selling their multimillion dollar homes then downsizing somewhere cheaper and buying their kids a condo. This is now falling apart.

bullwhip29
Guest
bullwhip29

Sale of 5,000 concrete condo units postponed in Metro Vancouver
https://dailyhive.com/vancouver/mla-advisory-metro-vancouver-pre-sale-report-may-3-2019

Laibach
Member
Laibach

Yep, better to postpone than lower the prices. Waiting for Chinese to come back and governments to ease rules, anyhow greed rules.

Oracle
Guest
Oracle

That’s why I’ve been beating my head against a wall trying to convince you people NDP not doing enough.

The correction needed to be swift and deep. Not this BS we have now.

Developers shelving projects means layoffs and you then know the NDP days are numbered.

All on purpose I think yet the minions keep licking it up.

Dave
Member
The layoffs are coming alright. Lots of projects have been shelved and more are on the way. So ya, unemployment should be headed up soon. And then we have all the knock-off effects… cars, furniture, restaurants, etc… Gas prices are like never before and insurance is going through the roof. Even a chunk of celery goes for $5 today and red peppers more than $3. But, let them eat cake if they can afford it. Horgan missed his chance. Dummy should have gone to the polls a few months ago. A year from now, he’s going to be very unpopular with an economy going off the rails and the cost of living through the roof. The 70% of people that own real estate will also turn on him by next year. It’s great to support housing market fixes in theory,… Read more »
Best place on meth
Member
Best place on meth

Horgan is doing the right thing by sticking to his agreement with Weaver.

Not everyone politician needs to be a self serving piece of shit looking out only for themselves.

That’s what the Liberal party is for.

Ultra Bear
Guest
Ultra Bear

Wait a sec. If these condos are left empty once built, will the developers have to pay the spec tax? Empty homes tax?

YVR
Guest
YVR

Yes

Shut It Down Already (original)
Guest
Shut It Down Already (original)

If they’re postponed presales then they probably won’t be built.

bullwhip29
Guest
bullwhip29
xhistory
Guest
xhistory

are those buildings there to house the souls of deceased relatives?

paulb
Member

New
205
Price Change
85
Sold
82
TI:14979

http://www.clivestevepaul.com

Canada is for Crooked Gamblers
Guest
Canada is for Crooked Gamblers

‘Pissed off’: How Port Coquitlam’s mayor feels with no money laundering inquiry amid new allegations

https://globalnews.ca/news/5239490/bc-money-laundring-public-inquiry-brad-west/

Betting limits were regularly increased until they reached $100,000 under the Liberals in 2015.

“I think the truth is there’s a number of people who are in positions of responsibility who did know what was going on, who saw the bags of cash but they looked the other way because for a lot of folks this was the golden goose,” West said.

We need more politicians like this guy who really care about the people they serve.

YVR
Guest
YVR

This graph of casino revenue tells you everything you need to know. It was all started under the previous NDP government and continues to accelerate under this NDP with now record casino revenue. Can someone explain how revenue from casinos is increasing but the NDP are supposedly cracking down? The fact the NDP are forecasting casino revenue to increase in each of the next 3 years tells you they have no intention of doing anything.

https://shawglobalnews.files.wordpress.com/2019/05/gaming-revenue-gfx.jpg?quality=70&strip=all&w=670&zoom=2

Best place on meth
Member
Best place on meth

It’s such a shame YVR that you are so partisan.

For the most part your comments are sensible and moderate, but you have such an intense hatred of the NDP that you will never give them a chance, and you actually hope they fail so you can continue to blame them for any and all problems.

At the same time you will never, ever criticize the BC Libs for what they did to our province.

Do you think you will ever wipe out your political biases and start fresh?

Oracle
Guest
Oracle

You need your head checked out. You really think the NDP are angels. They’re in it for themselves and will make coin as long as they have suckers like you.

It’s year 3 of their power and have they done anything about real estate that matters to you???

Oracle
Guest
Oracle

Even YVR2HCR calling it a bottom now.

Specuskeptic
Member

If it’s bottom, you should go out and buy then, pumper. Get the fuck out there and make some money!

Simple Solution
Member
Simple Solution

no where near bottom yet….

Bag it and tag it
Member
Bag it and tag it

Why would you think it’s the bottom if you say prices haven’t gone down? You say low end is going up and high end prices only down because cash changing hands privately

YVR
Guest
YVR

I have criticized the BC Liberal many times on many things when they were in power. I never mentioned the BC Liberals in any of this. I mentioned the NDP because the BC Liberals are not the ones in power now. They are not the ones who promised to stop money laundering. They are not the ones that came out with a fake report finding only $100 million of money laundering all “unwittingly” by the casinos. They are not the ones who are over seeing record casino revenue while publicly stating the are combating money laundering. They are not the ones who just came out with a budget that shows casino revenue will be increasing over the next 3 years while stating they are going to stop money laundering. You are the partisan for ignoring all this.

Bag it and tag it
Member
Bag it and tag it

Yeah, BC Libs are totally off the hook because they never said they care about combatting money laundering or real estate bubbles and so forth…so they’re totally straight shooters. In fact, they said if we don’t like it we should move somewhere else. Hard to find honest advice like that these days.

YVR
Guest
YVR

Squawk – BC Liberals – Squawk. You need some new material. Why not address the points I made about the fake report finding only $100 million of money laundering all “unwittingly” by the casinos, the record casino revenue today and the budget that states casino revenues will increase. Either you are really dumb or an NDP hack. Maybe both. The above has nothing to do the BC Liberals. The NDP could lower the baccarat limit from $100K to 1K with the stroke of a pen. But they don’t. Are the BC Liberals preventing them from doing that? Anyone with half a brain could solve the issue in weeks. But the NDP don’t want to.

Best place on meth
Member
Best place on meth

“I mentioned the NDP because the BC Liberals are not the ones in power now. ”

Yes, and they are dealing with all the shit left behind by the Liberals.

Your favorite party does not get off the hook for what they did just because they’re out of power. They are still accountable for their actions no matter how long ago they took place.

YVR
Guest
YVR

So every time you criticize Trudeau we should disregard it because you don’t bring up Harper. Got it. The only thing relevant is the last party in power and they are responsible for what is happening today.

Best place on meth
Member
Best place on meth

Harper sucked on many levels, but he didn’t fuck up Canada the way Gordo/Krusty fucked up BC.

Those two should be in prison, or swinging from a tree.

Make Trudeau a Drams Teacher again!
Guest
Make Trudeau a Drams Teacher again!

Gordo was an excellent premier and brought BC back from the brink.

He dropped income taxes 25% at the high end in his first day.

Kristy not so much…

Selective Memory
Guest
Selective Memory

Gordo was a corporate hatchet-man who couldn’t leave town fast enough once he was done selling off the province to his cronies. He had no interest in the welfare of BC, then or now.

squeak
Member
squeak

Yes, I would love some accountability and transparency on all levels.
Imagine a world (or country) that step to these standards, in the long run, we all would be better off.

StupidityCheck
Guest
StupidityCheck

Apparently you’re not very good at reading graphs. Gaming revenues aren’t “accelerating”, they are down slightly.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

He’s not good at reading approval polls, either. Or words, come to think of it.

YVR
Guest
YVR

1.4 billion in 2019 compared to 1.3 billion in 2016 is slightly down? The NDPs own report said casino money laundering was only $100 million over 16 years. That would mean a $100 million annual increase since the NDP took power is pretty significant. A 100% increase in 2 years.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

YVR tries to move the goalposts as once again his personality disorder prevents him from admitting his error. Sad.

YVR
Guest
YVR

So your position is the graph shows the NDP have indeed reduced money laundering in casinos and the most recent annual revenue of $1.4 billion is down? I get you are a locust supporter and want to keep money laundering going but the graph is pretty easy to read.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Strawman.

You said it’s accelerating. It’s not.

Seriously, what’s wrong with you?

YVR
Guest
YVR

Stupid guy said casino revenue under the NDP was down which is what I was responding to. Try to keep up.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

You said it was accelerating. It’s not. You were wrong. Again.

YVR
Guest
YVR

Accelerating means going higher. It is at all time highs and forecast to go even higher.

ac·cel·er·ate
verb
increase in amount or extent.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Accelerating does not mean “going higher”. It means accelerating. And accelerating is not the same as increasing.

Stop embarrassing yourself.

YVR
Guest
YVR

I just posted a copy and past from the dictionary. You have been owned again.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Context matters.

Acceleration is an increasing rate of growth. You even said it continues to accelerate, which it does not. It’s currently decelerating or even possible decreasing.

There was clearly an increase since 2016, of course.

Best place on meth
Member
Best place on meth

Brad West is calling for politicians to go to prison for their complicity in the massive amounts of money laundering by foreign crooks that took place in BC.

He is in the top 0.1% of public servants as far as I’m concerned.

YVR
Guest
YVR

Took place? Taking place right now. I would start with Eby who came out with the fake report that claimed money laundering was only $100 million and absolving the casinos of any wrong doing and then renewing their license for another 10 years.

YVR
Guest
YVR

B.C. casino’s $18K severance agreement prevented public criticism about gangs, former employee claims

Labine said that she worked on the 2011 NDP leadership campaign of Mike Farnworth, who was the NDP’s critic for gaming and involved in the party’s casino expansion policy in the late 1990s. Farnworth is currently B.C.’s solicitor general. Election records show that Farnworth was the candidate backed by Great Canadian in 2011, receiving a total of $7,500 donated from three different Great Canadian entities. In an interview, Labine says she recalls Farnworth coming into a campaign meeting, beaming, with a Great Canadian cheque in hand. She says that she warned Farnworth about her concerns with Great Canadian and urged him to return the money. And when he did not, she resigned from his campaign.

https://globalnews.ca/news/5227422/b-c-casinos-18k-severance-agreement-prevented-public-criticism-about-gangs-former-employee-claims/

YVR
Guest
YVR

She believes the conclusion of independent reviewer Peter German — that B.C. casino operators were unwitting victims of money laundering — is false. And it was odd, she believes, that German’s review didn’t look at the period when the NDP was in power in the late 1990s. “It went from the point when the Liberals were in charge. I have a little bit of a problem thinking that, ‘OK, we’re not going to go back that far, because we don’t want to look,’” Labine said. “The NDP were seeing revenue coming in, and they desperately needed revenue at that time. There was a big jump in casino revenue.” Labine thinks that both the NDP and B.C. Liberals are against a public inquiry because they are “afraid to turn over the rocks and see what’s there.”

Selective Memory
Guest
Selective Memory

It’s pretty clear what’s going on with this sudden rash of stories from Global. The public inquiry is a-coming and it’s going to be devastating for the Liberals. They’re trying to get ahead of the story with a lot of feeble attempts to claim the NDP are just as bad (give or take a couple orders of magnitude.)

Maybe they think they can scare off the NDP from calling an inquiry, but if not they’ll settle for muddying the waters.

YVR
Guest
YVR

The lady who came out with the story was an NDP campaign worker. Actually I think this story is going to force the NDP to call an inquiry.

realist
Member
realist

The evidence points to a bipartisan failure of governance – more than enough to devastate both Liberals and NDP. in an inquiry.

Best place on meth
Member
Best place on meth

Coleman would prove to be the biggest culprit (no pun intended) in a public inquiry.

He’s the one who did away with the oversight.

An inquiry is a must, I believe criminal intent on his part can be proven.

Selective Memory
Guest
Selective Memory

There’s that false equivalence.

I don’t see any reports of the NDP shutting down the police task force in charge of investigating money laundering, and then trying to smear the police commanders who objected.

yvr2zrh
Member
A few observations as we sit at the bottom of the sales volume trend. Since all measures against the housing market have started, sales volumes are off 65% (since 2016). – Average prices are coming down more than benchmark. This reflects the fact that people have less money but are currently transacting for less of a home than they used to purchase. Thus, the reduction in the ability to pay has not yet played out in prices fully yet. – The market is getting attacked at the top and the bottom. While the bottom of the market is fed by people with money but going “down” the ladder to a lower property, there is nothing to save the properties at the top – except for vastly lower prices. This is creating price compression with the ratio of the top/bottom price… Read more »
Oracle
Guest
Oracle

So basically this is the low for Sub $1 million properties in Vancouver?

These places have barely budged in price in the Valley. Abbotsford up 100% since late 2015. Gues FOMO buyers made the right move.

Make Trudeau a Drams Teacher again!
Guest
Make Trudeau a Drams Teacher again!

Wow. Abbotsford up 100% sine 2015?!?!!

I guess I should have bought there instead of Whistler.

Oracle
Guest
Oracle

Absolutely correct.

Detached that were $400K are now $800K.

Make Trudeau a Drams Teacher again!
Guest
Make Trudeau a Drams Teacher again!

You happily voted NDP in the last election.

Specuskeptic
Member

Don’t believe a word that douchesicle says – including who they voted for. It is 100% an act and even they can’t keep their story straight over a few threads.

Oracle
Guest
Oracle

How’s your panties doing ?

Specuskeptic
Member

Now it’s “angry oracle”. Omniscient Oracle, aristocrat Oracle, and Martyr oracle have been shelved for now. Panicky Oracle will be the one we see most often going forward for the next few months. THAT’s a prediction I’m willing to make.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Up in price if your frame of reference is 4 years ago. Down in price if it’s 1 year ago. There is a difference, you know?

SilentBob
Guest
SilentBob

“The market is getting attacked at the top and the bottom. While the bottom of the market is fed by people with money but going “down” the ladder to a lower property, there is nothing to save the properties at the top – except for vastly lower prices. This is creating price compression with the ratio of the top/bottom price ranges becoming lower and closer together.”

False, at least in the markets I watch. There has been no price reduction at the low end. Granted, this is an improvement over steadily increasing prices, but ~$1000/ft2 for 450 ft2 shoeboxes hardly constitutes “being attacked” as far as I’m concerned.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Which markets are you watching?

Bag it and tag it
Member
Bag it and tag it

“There has been no price reduction at the low end.”: False, at least in the markets I’m following

Oracle
Guest
Oracle

So says a internet user. People on the ground in the Fraser valley have not seen a shift in the lower end.

Specuskeptic
Member

Saretsky just posted. https://www.youtube.com/watch?v=p4QA9YvMRZ8

Sellers need to price competitively.

In other news, water is wet.

Specuskeptic
Member
YVR
Guest
YVR

Wasn’t it on Reddit Eby posted he was going to ban foreign buyers from buying presales?

Specuskeptic
Member

Sorry. Forgot to include the YVR trigger warning.

YVR
Guest
YVR

Hey Everyone. Let’s get this show rolling. I’ve got the top question from u/idopspopd about money laundering, namely why are there so many studies and “still almost no work being done to seek convictions”. Great question. A big challenge we’ve faced is policing resources on this issue.

You would thing with 1.3 billion in annual casino revenue you could use 1% which would be $130 million to set up a police agency to enforce the laws. Or is because we have our police spending time on more important things like giving unnecessary tickets to people who paid for their skytrain fair. How about shutdown the skytrain police and put them in casinos.

https://globalnews.ca/news/5240438/transit-police-calgary-man-fine-compass-gates/

Shut It Down Already (original)
Guest
Shut It Down Already (original)

1% would be $13million.

xhistory
Guest
xhistory

Noticed an online ad for locals. A turnkey cafe For Sale.

It wasn’t long ago this type of business wouldn’t show up available for locals. It would go straight out to Immigrant Investor class.

Another thing I notice. Ads appealing to locals to Act Like A Tourist.

Just a few mind drift notes from the curb

Best place on meth
Member
Best place on meth

4094 30TH AVE W, assessed last year at 3.844 and the year prior at 4.430 has sold for 2.800 Down 37% in less than 2 years.

3927 34TH AVE W, assessed at 4.102 (4.730) sold for 2.800 also, down 41%.

2425 7TH AVE W assessed 2.571 (2.941) sold for 2.100. Not long now until the 2M level gives way.

3558 39TH AVE W, 3.032 (3.531), 2.410

Best place on meth
Member
Best place on meth

Sub 1M sales on the east side are becoming more common.

4949 CULLODEN ST, assessed last year at 1.220 sold for 920K

5853 DUMFRIES ST, assessed 1.358, sold for 930K

Bag it and tag it
Member
Bag it and tag it

My sources tell me that Oracle’s sources tell him that cash is changing hands under the table and in reality the sale price is 30% over asking. In other news, valley townhouse on fire.

Bubble
Guest
Bubble

Do not dare to default your mortgage:
Chinese takeover of mortgage insurer Genworth held up by Canada’s national security concerns
https://www.theglobeandmail.com/business/streetwise/article-chinese-takeover-of-mortgage-insurer-genworth-held-up-by-canadas/

patriotz
Member

The takeover is actually of Genworth USA. It’s the parent company of Genworth Canada (not 100% though, some shares are publicly traded) so Canadian approval is required to complete. It has already obtained approval in the US including national security approval.

https://www.bloomberg.com/news/articles/2018-06-09/genworth-wins-u-s-national-security-approval-for-chinese-sale

Specuskeptic
Member

I personally prefer foreign entities hold the bag on collapsing enterprises to Canadian ones. I’m somewhat prideful and scheming that way.

Of course, a collapsing business means job losses and that is bad. (Needed to say that before someone jumps down my throat)

Doomcouver
Member
Doomcouver

That’s the silver lining. I feel it’s less likely the government would move to backstop a foreign owned corporation than a Canadian-owned one… in theory.

Laibach
Member
Laibach
Laibach
Member
Laibach

Fed up Canada tells U.S. to assist with China disaster or overlook about favors

https://www.thetodaypress.com/2019/05/05/fed-up-canada-tells-u-s-to-help-with-china-crisis-or-forget-about-favors/

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

“Canada is leaning on america to assist settle a dispute with China, which has began to dam imports of significant Canadian commodities amid a dispute over a detained Huawei government.”

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

WTF Kind of writing is this? It was reported on and then later enhanced. Yeah straight from Beijing. The whole article reads like it was written in Chinese and put through google translate.

Specuskeptic
Member
Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

“With no playing cards to play towards China with out risking important financial harm, Canada has launched a full-court press in Washington, which is negotiating its personal commerce take care of Beijing. “

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

“Further reporting by Chris Prentice and David Brunnstrom in Washington; Enhancing by Amran Abocar and Lisa Shumaker
Our Requirements:The Thomson Reuters Belief Rules.”

Best place on meth
Member
Best place on meth

Turds team should quit whining to the US and starting making alternate plans with other trading partners.

This incident was the best thing to happen to Canada in a long time, it exposed the chinese for the fucking scumbags they are.

Dave
Member
Where will our growth come from without China? Canada is a resource country and we need to sell to the biggest consumers in the World, which is China. Our biggest problem is that during the debt bubble of the last ten years, we shut down new resource projects and didn’t think it mattered because our economy was fuelled by a temporary bump. Now that the debt cycle is winding down, our economy is going to get exposed for what it is… hot air. The truth is that we are a tiny country and we don’t have much of an economy at all. California is bigger than us and matters way more. We don’t have the clout to do what you suggest. The only way this economy keeps moving is high rates of immigration to boost consumer demand. And we’re starting… Read more »
Selective Memory
Guest
Selective Memory

Since we are such a small country, in terms of the size of our economy, it shouldn’t be that hard to find customers for our resources besides China, right?

Dave
Member

That’s not how it works. China is a massive consumer of commodities. Switzerland, not so much. Canada has the 3rd largest oil reserves while the US is 10th. They’re the top oil producer however, while we’re 10th.

Think about that. Guys like Andrew Weaver have sabotaged our economy.

The only thing keeping the party going is immigration and a cheap dollar, headed even lower.

Best place on meth
Member
Best place on meth

How come Canada was a much better country 50 years ago?

Hint: no dealing with scumbag Nazis.

Selective Memory
Guest
Selective Memory

China is not the only consumer of commodities. Businesses that become dependent on trading with authoritarian countries like China run the risk of having their business go up in smoke — and rightly so. Businesses that depend more on trading partners that observe the rule of law benefit from that stability.

Of course there’s always the radical notion of reinvigorating our manufacturing sector and using our finite resources to our own benefit.

Best place on meth
Member
Best place on meth

You mean something along the line of Make Canada Great Again?

YVR
Guest
YVR

Commodities can be shipped anywhere and there is a finite supply. If China buys from say Brazil we then sell to the customers Brazil had to drop to supply China.

Dave
Member

Yes, but supply chains matter. You can’t just cut China out and assume you pay no penalty because commodities are substitutable. Just look at the oil market and the Alberta discount.

YVR
Guest
YVR

Alberta oil is low quality and land locked. Different from other commodities.

Best place on meth
Member
Best place on meth

“Where will our growth come from without China?”

What a fucking stupid question Dave, it’s like asking “where will our growth come from if we don’t do business with Nazis”.

We don’t need those scumbags, we can do better than this!

Dave
Member

It’s not a stupid question. The cost and morality of it are different questions.

What price do you think Canadian’s are willing to pay? Zero cost and everybody says, let’s do it. But that’s not the reality of it. You willing to stall our economy? You willing to double unemployment? Run big deficits? Kill the dollar? I imagine you say yes to all that. But Canadian’s won’t because we’re people and people are selfish and self-motivated.

Best place on meth
Member
Best place on meth

We’re already stalling our economy because we let tens of thousands of those money laundering dirtbags move here and inflate our real estate so ridiculously that most locals have no money left to live on after paying for a mortgage or rent.

Selling resources to the most evil country that ever existed is not going to help us at this point and it’s immoral, best to cut off all trade with them and start healing this very sick, infected country of ours by trading only with friendly nations who aren’t out to dominate or destroy us.

Yes, there will be short term pain but,

Fuck china.