Friday free-for-all! July 12 2019

It’s a whole new day and the end of another work week.

Let’s do a fresh new open topic discussion thread for the weekend!

What are you seeing out there on the roads and back alleys of this Vantastic city?

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xhistory
Guest
xhistory

“Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability,” Powell told the committee,

https://uk.reuters.com/article/uk-crypto-currencies/bitcoin-extends-losses-after-fed-chief-urges-halt-to-facebooks-crypto-project-idUKKCN1U60YJ

Laibach
Member
Laibach

Fucks are infiltrated at all levels like infection. It is a classic special war with all infantry in field.

eastender
Member
eastender
bullwhip29
Guest
bullwhip29

Burnaby man living in a ‘construction zone’ refuses to pay rent
https://www.vancourier.com/burnaby-man-living-in-a-construction-zone-refuses-to-pay-rent-1.23881523

bullwhip29
Guest
bullwhip29

in other news, another driver crashes white BMW X5 knocking out power to 1000s in Surrey. not surprisingly, there were no other drivers, pedestrians or witnesses
https://www.cbc.ca/news/canada/british-columbia/crash-surrey-hospital-poer-out-1.5209428

bullwhip29
Guest
bullwhip29

New immigration pilot will offer permanent residency to migrant farm-workers
https://nationalpost.com/pmn/news-pmn/canada-news-pmn/new-immigration-pilot-will-offer-permanent-residency-to-migrant-farm-workers

Under this new pilot, temporary foreign farm workers will be able to apply for permanent residency after 12 months and, if they’re approved, will also be allowed to bring their families to Canada

DaMann
Member
DaMann

Is it really a labour shortage or is it a shortage of “cheap” labour? There is a stark difference. You pay someone enough and you can fill the positions. And why the hell do we have to keep letting people bring in their old and aging families? It’s a completely unsustainable model. Ridiculous

bullwhip29
Guest
bullwhip29

Is it really a labour shortage or is it a shortage of “cheap” labour?

>>> neither. anything and everything done for the sake of maintaining the housing bubble. end of discussion

Selective Memory
Guest
Selective Memory

Foreign workers have to be paid at least minimum wage. The problem isn’t foreign workers, it’s that the minimum wage is too low.

People who come to Canada and work hard should have a path to citizenship. They contribute far more than the investor immigrants who buy their way in.

Hibernating Renter
Guest
Hibernating Renter

Preventing less productive people (locals) from working at all isn’t the problem. The problem is that TFWs pay is subsidized with the value of the path to citizenship.

YVR
Guest
YVR

Exactly. Without the TFW the farm would be forced to pay market wage which would be more than the current minimum wage. Free markets work if the government stays out of the way.

Selective Memory
Guest
Selective Memory
1. Business justifies using TFWs by claiming they can’t find locals willing to work the jobs. In many cases they can’t find locals because they’re unwilling to meet the local market price for labour. TFWs are basically off-shoring turned inside-out — importing third-world labour that is willing to work for less than locals demand. Raising the minimum wage increases the pool of local labour willing to do the work, and decreases the need for TFWs. 2. The current system, with no path to citizenship for TFWs is odious. It creates impermeable classes — an upper class of citizens, whose standard of living is subsidized by a permanent underclass of labourers with fewer rights and no possibility of social mobility. Not a healthy society. 3. Many would recognize that offering citizenship to productive workers has value to society as well as… Read more »
Hibernating Renter
Member
Hibernating Renter

2. They don’t have to come.
3. If they’re that productive, they wouldn’t be coming in as TFWs.

PuffPuffPass
Guest
PuffPuffPass
Someone explain minimum wage to me. How is it that we’re OK with someone on welfare receiving $710/mth, but we’re not OK with that same guy on welfare finding a job where he can provide value at $10/hr for 40 hours/week and make $1,700/mth? Let’s assume at $11, it doesn’t make sense to hire him – he’s just not skilled enough, and the employer can’t make a profit. Now, let’s assume after 6 months working full-time at $10/hr, he’s improved his skill-set and another company is willing to hire him for $12/hr (and/or his current employer is willing to give him a raise because he can now provide value at that rate). Now this guy is making just over $2,000/mth, and guess what? In another 6-12 months, the additional work experience has developed his skill-set even further, and now he’s… Read more »
Laibach
Member
Laibach

Great opportunity for all those wealthy pig farmers from China to get in as investors in the farming business. Yet another fuckup…

bullwhip29
Guest
bullwhip29

they already are investors in “farms” which are being used as hotels and massage parlours instead. this is the perfect cover for them to add immigration services/accommodations/consulting/leisure activities/daycares and what have you all while seemingly with the govt’s blessing…

YVR
Guest
YVR

Seems like a plan tailored for the locust.

Doomcouver
Member
Doomcouver

The desperate grab for any immigrant with a pulse willing to pay taxes in Canada continues.

bullwhip29
Guest
bullwhip29

RE: speculation tax figures

“So far, 12,029 owners have paid the tax. However, roughly 23,000 people still have not completed their declaration or exemption forms, which could significantly change the makeup of the figures in the weeks ahead.”

>>> 23000 out of 1.6M is not statistically significant. it could be deemed to be a stretch For Carol James to assume the bulk of these 23000 are tax evaders so as to boost the actual # paid to match the 32000 +/- owners that she claimed would be affected. the other way of looking at this is that almost 2/3’s of those targeted have not paid their bill yet. either way, the administrators of this botched program have lots of work to do

bullwhip29
Guest
bullwhip29

Facial recognition systems touted by the B.C. Lottery Corporation as part of a solution that could keep criminals and problem gamblers out of casinos aren’t yet ready for operation
https://bc.ctvnews.ca/facial-recognition-tests-at-bclc-disappointing-documents-1.4504961

>>> governments and casinos worldwide have been using these tools for years. isn’t funny that only in BC this tech (among other things) never seems to operate without a myriad of glitches occurring accidently on purpose, right on cue?

Laibach
Member
Laibach

Eh, glitches… It is hard for software to figure out faces of the usual BC casino goers, they mostly look the same.

bullwhip29
Guest
bullwhip29

i suppose the software will be less effective with the rats running around donning the goto incognito headgear
https://www.ctvnews.ca/polopoly_fs/1.3900164.1524596547!/httpImage/image.jpg_gen/derivatives/landscape_1020/image.jpg

Selective Memory
Guest
Selective Memory

Tired racist joke seems even dumber in light of the fact China is ground-zero for wide-spread deployment of facial recognition software. Sometimes the human intelligence on this board makes AI look pretty good.

Canada is Corrupt
Guest
Canada is Corrupt

37 countries rally around China at top UN human rights body

https://www.citynews1130.com/2019/07/12/37-countries-rally-around-china-at-top-un-human-rights-body/

so a bunch of other countries with bad human rights abuses rally around another country with a bad human rights record …

bullwhip29
Guest
bullwhip29

Chinese government reception for B.C. politicians to go ahead as planned
https://www.cbc.ca/news/canada/british-columbia/chinese-consulate-ubcm-result-1.5210033

“We’ve got two Canadian citizens being held hostage …. and the idea that a bunch of mayors and councillors are going to slap a smile on their face and pretend none of that is happening and go and be wined and dined by the government of China is completely inappropriate.”

bullwhip29
Guest
bullwhip29

Delayed construction, a secret sales deal, and blacked-out pages: the Little Mountain saga continues
https://vancouversun.com/news/local-news/delayed-construction-a-secret-sales-deal-and-blacked-out-pages-the-little-mountain-saga-continues

Canada is Corrupted
Guest
Canada is Corrupted

Reading the text of the article, the BC Liberal government back in the day gave this property away to Holborn in a sweetheart deal and Holborn is basically building the social housing for free and gets to sell the market housing at pure profit for them. Holborn “paid” $334 million in cash and it’s now worth $368 million and of the $334 million they can deduct the cost of the social housing so they will never come close to paying the full $334 million. Why do governments pull such stupid deals all the time? This one really stinks.

Selective Memory
Guest
Selective Memory

You’re assuming the BC Liberals were working for the taxpayers, when they were in fact working for cronies like Holborn. So it was a great deal, not stupid at all.

patriotz
Member
YVR
Guest
YVR

It is a dispute over when a development permit was filed. He will probably win. The guy is building a $10 million mansion. Another empty mansion. Is that supposed to be positive for Vancouver housing?

Canada is Corrupted
Guest
Canada is Corrupted

“He’s address on the building permit is another house on Belmont owned by another executive from Ningbo Sanxing Medical Electric, Zheng Lei Qi. He purchased the property for $19.75 million in 2012, and it is currently assessed at $27.669 million.”

This is a good illustration of how these wealthy chineeze have ruined Vancouver… and because of the lack of publicly accessible records of the beneficial owners of property or companies we can’t even tell what’s happening.

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

Vancouver has not been “ruined”, and you clearly have the address here so you can “tell what’s happening”. Or were you expecting their home address to be an uninhabitable property?

Canada is Corrupt
Guest
Canada is Corrupt

and how many of their addresses don’t we have ?

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

Why not tell us? You’re the one who was making the claim.

Canada is Corrupt
Guest
Canada is Corrupt

thousands.

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

Evidence?

Just kidding – you have none. Thanks for playing.

Canada is Corrupt
Guest
Canada is Corrupt

It’s why we need the beneficial ownership registry. You should know that.

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

And when we have it you’ll find a reason to persuade yourself that people are somehow side-stepping it.

patriotz
Member


B.C. speculation tax figures show foreign owners hardest hit as expected take soars

“Liberal critic Tracy Redies said the fact government was so mistaken in its estimates reinforces that it overinflated the threat of speculators as a way to target B.C. residents with multiple properties. “This government has a desire to openly penalize people for being successful and having a second home,” said Redies.”

YVR
Guest
YVR
But so far, only 2,410 of the 12,029 homeowners, or 20 per cent, have been B.C. residents with multiple properties. James said she thinks more B.C. homeowners were more likely to rent their properties to avoid the tax. “It shows we are getting to what we want to get to,” she said. “It’s a tax where if people aren’t paying the tax that’s a plus, because it means they are renting their places out and it means we have more housing to deal with the crisis.” More like it is easy to get around the tax for “locals” aka newcomers. Where is all the rental supply she is talking about? The tax is a failure. Rents are up probably up 20% over the last 2 years in real life not some bogus government stat. Still record low vacancy and a… Read more »
Shut It Down Already (original)
Guest
Shut It Down Already (original)

“Rents are up probably up 20% over the last 2 years”

What planet are you on?

YVR
Guest
YVR

$3800 / 500ft2 – Fully Furnished, Fully Serviced Yaletown Suite (1388 Richards Street)

https://vancouver.craigslist.org/van/apa/d/vancouver-fully-furnished-fully/6932733481.html

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

It’s The Level’s second location. So a hotel, basically.

Duh.

YVR
Guest
YVR

Not a hotel. Minimum monthly rent. Two years ago it would have been more than 20% less.

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

Oh, please. It’s a serviced hotel-style apartment, and therefore a terrible example to cherrypick. Either way one or two examples are wholly insufficient to support your claim – and that’s ignoring the fact that you’re simply making up what their rents two years ago were.

YVR
Guest
YVR

Show us your data? Or just go strait to slurs since you don’t have any.

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

Burden of proof is on you. We’re still waiting.

YVR
Guest
YVR

I have shown the data. Can you not read? CMHC shows rents up 15% since the election.

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

15 is not 20, and it’s only 15 if you cherrypick the area.

You are quite hilarious.

YVR
Guest
YVR

Nope the whole of Metro Vancouver rents are up 15% since the election. If I cherry pick it would be worse. Note my original statement was “Rents are probably up 20% over the last 2 years in real life not some bogus government stat.” I was correct and you were wrong and you cannot provide any data to backup your claim as usual. Just apologize and go away. You have lost another one.

Canada is Corrupt
Guest
Canada is Corrupt

$2150 / 1br – 520ft2 – Spacious Downtown 1bed/1bath @ Vita (Smithe/Seymour)

https://vancouver.craigslist.org/van/apa/d/vancouver-spacious-downtown-1bed-1bath/6932832309.html

YVR
Guest
YVR

Two years ago that place was $1700 per month.

Canada is Corrupt
Guest
Canada is Corrupt

Any examples or proof of that ?

YVR
Guest
YVR

Look at the CMHC data. Rents up 15% over 2 years in downtown Vancouver.

Simple Solution
Member
Simple Solution

This is essentially a hotel room. nice try

YVR
Guest
YVR

This is a purpose built rental building completed under the Greggor Robertson regime and falls under the same rules as any other purpose built rental or condo for that matter. Rent is rent and I think the owner Onni knows the going rate which has skyrocketed under the NDP.

Oracle
Guest
Oracle

Quit arguing with these dummies.

Obviously the bulls with ulterior motives are easily manipulating the minions here.

Quit trying to educate them on what’s going on. Use your own knowledge to help yourself.

The homeless population is increasing. Don’t you think people tried to talk some sense into them?

Buy in Chilliwack if nothing will be done on immigration.

Bag it and tag it
Member
Bag it and tag it

Don’t mean to interrupt your delusion but rents are currently falling..

Selective Memory
Guest
Selective Memory

And historical data from the CMHC, shows the vacancy rate has been improving since Oct 2016:

https://tinyurl.com/y2ks66ut

YVR
Guest
YVR

False. Vacancy from October 2017 to October 2018 which are the latest CMHC data points show rental inventory reduced by 30%. Do you understand how to read data?

Selective Memory
Guest
Selective Memory

Click on “Historical Time Periods” at the left of the CMHC link. Then click on “Chart” at the right. Assuming you can sort out your left from your right, you will see a graph of the vacancy rate for Vancouver:

Oct 2016: 0.7%
Oct 2017: 0.9%
Oct 2018: 1.0%

Start of GreenDP government: June 2017.

YVR
Guest
YVR

The vacancy went from 0.9 to 1.0 from Oct 2017 to Oct 2018 which means it basically stayed the same. In some areas like the West End vacancy dropped 40% over that time. More importantly rents went up in Metro Vancouver 6.6% from Oct 2017 to Oct 2018. Since the election that works out to a 15% increase in rents across Metro Vancouver with some areas much higher. Is a 15% rent increase since the election some type of accomplishment for the NDP? At this rate rents will double in 10 years time.

Selective Memory
Guest
Selective Memory

Rents did indeed increase by 6.6% from 2017 to 2018 under the NDP, according to this CMHC data. Congrats on figuring out how to read it.

How much did rents increase from 2015 to 2016, under the Christy Clark predators?

10.7% !!

Looks like the NDP are doing a great job of bringing the rate of increase down.

Incidentally, when the vacancy rate rises from 0.9 to 1.0, that’s an increase of 11%, you innumerate buffoon.

YVR
Guest
YVR

Wow you are desperate. In dollar terms the rent increases are the highest in history under the NDP. At the current pace rents will be up 40% over their term. Is that what they ran on? Is that more affordable? And housing starts are down including rental stock and forecast to decline further under the NDP.

YVR
Guest
YVR

How much did rents increase from 2015 to 2016, under the Christy Clark predators? 10.7% !!

Speaking of innumerate buffoon 2015 average rent was 1156 and 2016 average was 1236 which is a 6.9% increase. In Oct 2018 after 1.5 years of NDP incompetence the average rent is 1394 which is 13% higher! Back to grade 3 math for you.

YVR
Guest
YVR

Incidentally, when the vacancy rate rises from 0.9 to 1.0, that’s an increase of 11%, you innumerate buffoon.

That is statistically insignificant and shows zero improvement. Did the NDP run on a 1% vacancy rate after 2 years?

Selective Memory
Guest
Selective Memory

Well, let’s go with 43% improvement over 2 years, if you insist.

YVR
Guest
YVR

Problem is the improvement was under the BC Liberals. The NDP were not in power in October of 2016 which is where the improvement started that you cite. Wrong again.

Selective Memory
Guest
Selective Memory

“Problem is the improvement was under the BC Liberals. ”

It’s exactly the same time period you chose for your claim that rents are up 13% under the NDP.

Apples to apples.

Selective Memory
Guest
Selective Memory

Looks like I flipped some digits, regrettably. So that makes a 6.9% rent rise under the last full year of Christy vs. 6.6% under the first full year of the NDP. Trending the right direction, but nothing to get excited about.

Now your 13% figure is based on the 2 years between Oct 2016 and Oct 2018. Of course the NDP was only in power for the last 18 months of that stretch, but whatever. Using that same logic, the vacancy rate has risen from 0.7% in 2016 to 1.0 % in 2018, a 43% increase. Pretty impressive — thanks NDP!

YVR
Guest
YVR

You are easily impressed. The NDP have been a disaster on housing.

patriotz
Member

“The NDP have been a disaster on housing.” Well there are plenty of people who think so. Depends on what you call a disaster of course.

“It cannot be denied that it has been wildly successful. Recent reports are that $90 billion has been lost in home value in Metro Vancouver over the past year alone. That is equal to roughly 65% of Metro Vancouver’s $137 billion GDP. It represents approximately $40,000 for every resident of Metro Vancouver, almost matching average annual salaries…

The key ingredient in B.C. is that there is no reason to believe the market will recover as long as it is the government’s policy to ensure that it does not.”

https://biv.com/article/2019/06/bc-ndp-housing-policies-destroying-british-columbians-wealth

YVR
Guest
YVR

The high end of housing is down due to tighter controls on money leaving China. This is a worldwide thing although the BC Liberals foreign buyers tax certainly helped. The extra token 5% the NDP added was mostly irrelevant because foreign buying has increased under the NDP.

I call 15% increase in rents since the election a disaster. I call housing prices that have at best stayed flat for median priced houses a disaster. I call a vacancy rate of 1% a disaster. The fact you can buy a $10 million house for $8 million is irrelevant to everyone but HAM. That is where the $90 billion has been shaved off. So yes good for HAM, a disaster for normal Canadians.

patriotz
Member

Greater Vancouver home sales now below $1 million benchmark that held for more than two years

“This is the first time the composite benchmark has been below $1 million since May 2017.”

There you have it from REBGV themselves. Their benchmark is lower now than when the NDP took office – in July, 2017. Do I think it should go lower – sure, and I think it will, along with that angry guy I quoted earlier.

YVR
Guest
YVR

Yes in May 2017 when the NDP were elected the benchmark is the same as it is now. That is what I said – flat. Is that an accomplishment?

Selective Memory
Guest
Selective Memory

Rents up 15% is a disaster. Vacancy increase of 43% is insignificant. Not a real consistent argument.

YVR
Guest
YVR

Except vacancy has not increased by 43% under the NDP and 43% of a fraction of 1% (which took place under the BC Liberals) is next to nothing and meaningless if rents are up. 15% rent increase of someones rent of $20,000 per year is $3000. That is on top of carbon taxes, higher gas, higher hydro, higher ICBC rates, higher income tax. How is that more affordable? The NDP have failed. Deal with it.

Selective Memory
Guest
Selective Memory

Let me type it more slowly for you: rents are up 15% over the same time period that vacancy is up 43%. Those statistics come as a package deal.

YVR
Guest
YVR

You are in denial. You lost the debate a long time ago. The 15% if from the election until today.

Selective Memory
Guest
Selective Memory

You spew so much disinformation you can’t even keep track of what you wrote earlier in the thread.

Here’s a reminder: you started out by claiming vacancy rates had plummeted 30% under the NDP, when in fact the data shows they are up — somewhere between 11% and 43%. So you started out dead wrong, and just kept doubling down on dumb. I believe that qualifies you as a dum-dum.

Oracle
Guest
Oracle

Just stop.

Enjoy the misery these people will face when they realize how wrong they were.

Position yourself for entry into the market.

YVR
Guest
YVR

Any examples?

Oracle
Guest
Oracle

LOL.

The low end is rising. But continue to believe. It’ll serve you well into the future.

Specuskeptic
Member

“Envy tax” Raaaaawrkkkk….

YVR
Guest
YVR

More like the tax nobody is paying.

Laibach
Member
Laibach

Just fucking stop beating around the bush and ban immigration from both countries for 10 years at least or until the rest get balanced with the existing crap. Why is that so hard to do for fuck sake, especially when there is a huge excess of either shit in Canada?

“Officials warned China, India could use communities in Canada to advance agendas”

https://www.ctvnews.ca/mobile/politics/officials-warned-china-india-could-use-communities-in-canada-to-advance-agendas-1.4506022

Doomcouver
Member
Doomcouver

Because we’re headed for an economic disaster in part due to our rapidly aging population. Because of this, governments are trying to cram in as many potential taxpayers from other countries as they can. It won’t work, and the immigrants will just leave when the sustained economic misery starts.

Oracle
Guest
Oracle

Fraser Valley will be majority Indian.

And there’s nothing you can do about it !! 🙂

patriotz
Member

“Why is that so hard to do for fuck sake”

Well for starters, no Canadian government can be elected without the support of voters with origins from at least one of these countries.

Ejeje
Guest
Ejeje

Chinese don’t vote. They “donate”.

Laibach
Member
Laibach

Global News has learned the RCMP opened a file on B.C. Liberal MP Joe Peschisolido after confidential police informants alleged the veteran politician had been knowingly associating with Chinese organized crime figures through his former real estate law practice in Richmond, B.C.

https://globalnews.ca/news/5476467/embattled-liberal-mp-subject-of-rcmp-file-according-to-police-sources/

Bubble
Guest
Bubble

It seems that the developer of these two new houses have put them on the rental market, rather than reduced price further ($5 million to $4 million in the last two years).

Monthly rent: $7,600.
4691 and 4695, W. 9th Ave, Vancouver.

https://hopestreet.ca/rental/5-bedroom-modern-house-for-rent-in-point-grey

Land purchased in Aug, 2014 for $3 million, divided into two lots, built brand new. He could have recovered his cost by selling them $3 million each.. Assessed value $3.3 million.

Canada is Corrupt
Guest
Canada is Corrupt

They aren’t hungry enough yet and they think a tenant will bail them out. Good luck with that.

StupidityCheck
Guest
StupidityCheck

Let’s do some math…
At a *very* generous price/rent ratio of 25, those houses are worth:
$7,600 x 12 x 25 = $2.2M.
Not even enough to cover costs of lot + buildings. LOL.

Specuskeptic
Member

Corrupt to the fucking core

https://globalnews.ca/news/5489677/bc-home-inspector-pre-inspections/

“In videos posted to YouTube, Asselin promises to “overload” the pre-inspection report with positive items about the home, while moving anything that might be negative to the bottom of the report.”

Granted, due diligence is important, but this kind of effort to deceive should not go unsanctioned. Such a racket.

Specuskeptic
Member

Additional video with president of the RE board endorsing this service. BC Realtors need this gal to resign if they want to restore public faith.

https://globalnews.ca/video/5490521/real-estate-board-president-endorses-pre-inspection-service/

Canada is Corrupt
Guest
Canada is Corrupt

House inspections are not worth the paper they are printed on. I learned that the hard way.

Bubble
Guest
Bubble

I thought Home Inspector’s license cost more, no?

bullwhip29
Guest
bullwhip29

and why would they be? all the inspector can do is eyeball cosmetic details and maybe turn on/off appliances, nothing more. a total waste of time and money which is bordering on outright fraud in some cases. if anything ever goes wrong with the house, you’ve already signed on the dotted line and inspector, realtor and everyone else involved (who is supposed to be protecting you) has ass covered with pages and pages of fine print

Canada is Corrupt
Guest
Canada is Corrupt

They have “E&OE” to get off the liability hook.

bullwhip29
Guest
bullwhip29

this hardly ever comes into play as most items on list of things that SHOULD BE checked never get inspected in the first place. people are often fooled by the binder which is padded cover to cover with 95% boiler plate bs, colourful diagrams clipped out of a homeowners 101 handbook from HD and don’t think twice about forking over $400-500

bullwhip29
Guest
bullwhip29

how did this ding dong Ashley become pres of REBGV in the first place?

Canada is Corrupt
Guest
Canada is Corrupt

Canadian citizen has been detained in China, Global Affairs confirms

https://www.citynews1130.com/2019/07/13/canadian-citizen-has-been-detained-in-china-global-affairs-confirms/

Likely just more trumped up charges because china has lost all credibility over recent illegal detentions…

Doomcouver
Member
Doomcouver

We need to extradite Meng as fast as possible. Until that happens there will be more and more Canadians arbitrarily detained.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
I was in Bank of Montreal asking about safe deposit boxes. It turns out that there is a special deal. Not for premium account holders. Not for newcomers to Canada. But for those who are both newcomers to Canada and premium account holders. Only the conjunction is sufficient. Safe deposit box comes for free, even the bigger ones. I asked what counts as a newcomer to Canada and the teller’s response was a bit indefinite. “oh, about five years”. Somehow I’m bothered by this. Should I be? I guess someone might say a bank is a business and a business can make any promotional offers it wants. But still somehow the unequal treatment of people seems relevant to me in this instance. If the bank is trying to attract premium account holders (who are presumably the wealthier types), why not… Read more »
xhistory
Guest
xhistory

Magellan circumvented the planet, a sailing and exploration expedition. At the same time Cortez plowed through Mexico, an expedition of conquest. Both enterprises were further leveraged, as the knowledge and territory gained allowed the Spanish crown to quickly set up global trade route, far ahead of the European competition.

So perhaps, you must do two things here. And watch very carefully that mutineers don’t trip you up along the way

Canada is Corrupt
Guest
Canada is Corrupt

BoM was offering mortgages to foreigners without any proof of income so that’s the same thing… different rules for Real Canadians vs. foreigners. The thing is the foreigner’s mortgages were backstopped by CMHC which is really the taxpayer while the foreigner didn’t have any commitment to Canada except as a country of convenience.

patriotz
Member

“The thing is the foreigner’s mortgages were backstopped by CMHC”

No, CMHC does not insure mortgage lending to foreign buyers. Anyway, the kind of lending you’re talking about requires a down payment of 35% or so. The banks know they need a big cushion for that kind of lending.

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

He won’t let facts get in the way of a good old xenophobic rant.

Canada is for Corrupt
Guest
Canada is for Corrupt

Yes, my “xenophobic rant” regarding BoM mortgages … nice try loser.

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

“while the foreigner didn’t have any commitment to Canada except as a country of convenience.”

You’re an idiot.

Canada is Corrupt
Guest
Canada is Corrupt

good, now you need to call me a “racist”…

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

Why repeat myself? You’ve made it crystal clear who you are and what you believe in.

Canada is for Corrupt
Guest
Canada is for Corrupt

You are correct, thank you.

bullwhip29
Guest
bullwhip29

CIBC made a big fuss about getting out of that business along with their competitors who in turn ended up suckering them by not following suit and grabbing all their clients. OFSI is still riding CIBC’s ass i am told too

southseacompany
Member
southseacompany

“Canada and New Zealand Are Showing Signs of Housing Bubbles”, Bloomberg

https://www.bloomberg.com/news/articles/2019-07-12/canada-new-zealand-show-signs-of-housing-bubble-says-study?srnd=premium-canada

“Canada and New Zealand are the most vulnerable economies to a correction in house prices, with Australia and the U.K. also drawing concern, according to new research from Bloomberg Economics.”

““There’s a risk that a global round of monetary easing may fuel housing bubbles,” said Shah. “While central bankers are focused on avoiding a global economic downturn, looser monetary policy could sow the seeds of the next crisis.””

Doomcouver
Member
Doomcouver

The housing crash is inevitable at this point. It’s just a matter of how big, and when.

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

R2388715 – buy for $17.8m ($6m over assessed), or it can be yours via craigslist for only $33495 monthly (fortunately, utilities are included).

Available “immediately”. Form an orderly line.

bullwhip29
Guest
bullwhip29
Canada is Corrupt
Guest
Canada is Corrupt

“The students didn’t speak much English and kept to themselves in a group. ”

yup.

chineeze spies looking for germ warfare info …

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

If you’d bothered to read the article you’d see that wasn’t the concern.

Laibach
Member
Laibach

Escorted? Why not arrested and investigated, they get used to it back home.

bullwhip29
Guest
bullwhip29

Canadian officials flagged 900 food items from China with ‘problems’ over 2 years
https://www.cbc.ca/news/business/canada-china-food-inspection-items-problems-1.5211623

Canada is for Corrupt
Guest
Canada is for Corrupt

I never consume any food items from china and that is just common sense.

bullwhip29
Guest
bullwhip29

you never know where the raw materials originated from even if the packaging says otherwise.

bullwhip29
Guest
bullwhip29

China posts its lowest quarterly growth in 27 years as the trade war drags on
https://www.cnbc.com/2019/07/15/china-economy-beijing-posts-q2-gdp-amid-trade-war-with-us.html

Doomcouver
Member
Doomcouver

I expected a Chinese credit crash, what I didn’t expect was Trump being the catalyst.

asdf
Guest
asdf

BUT US CONSUMERS ARE PAYING THE PRICE OF THE TRADE WAR BECAUSE LOW QUALITY CRAP IS GOING TO BE SLIGHTLY MORE EXPENSIVE UNTIL PRODUCTION CAN MOVE OUT OF CHINA.

That is assuming that there isn’t a competitor outside of China who isn’t effected, in which case the consumer won’t be affected because they can just switch brans at no monetary impact.

So US consumer are paying the price by sometimes having to pay more for a couple of years. TAKE THAT TRUMP U BUMBLING DOLARD!

bullwhip29
Guest
bullwhip29

one could argue that the crap from vietnam, thailand, bangladesh etc is a couple of notches lower on the quality scale

china has moved manufacturing, distribution elsewhere to bypass many of the obstacles trump is trying to put in place. ie. products made by chinese in africa, europe or elsewhere are exempt.

YVR
Guest
YVR

If China moved manufacturing to africa, europe or elsewhere how does that help China? Not that it is happening. It is other countries that are moving out of China.

bullwhip29
Guest
bullwhip29

“made in china” subject to tariffs not made by china. look at what they are doing in the ASEAN region and even in countries like Greece, which has effectively become their backdoor into the EU

Bubble
Guest
Bubble

The foreign students who say they were lured to Canada by a lie:
“Devinder Thind came from India and now works at a Nando’s fast-food franchise in B.C. He said he just enrolled in his third college program, to study arts.

Mr. Thind said he has paid $32,500 for courses so far, with money he borrowed mostly from his brother. He did that, he said, simply to maintain his student work permit while trying to persuade his employer to sponsor him. His goal was to get permanent residency and find a much better job.”

https://www.theglobeandmail.com/canada/article-international-students-coming-to-private-colleges-say-they-were-duped/

Doomcouver
Member
Doomcouver

It’s a scam inside a scam because even if he gets PR the Canadian government is going to bleed him and everyone else of working age dry trying to pay for a tsunami of sick and dying baby boomers.

Canada is for Freeloaders
Guest
Canada is for Freeloaders

This is why many leave after a few years when they realize it’s all a big charade . Or it’s why they just get their passport of convenience.

Doomcouver
Member
Doomcouver

Canada is definitely a nice place to live, but generally a garbage place to work.

Doomcouver
Member
Doomcouver

Ottawa amends law to improve money-laundering prosecutions, more recommendations await implementation:
https://vancouversun.com/business/local-business/ottawa-amends-law-to-improve-money-laundering-prosecutions-more-recommendations-await-implementation

Door’s closing dirtbags. Buy your Montreal condos while you still can.

bullwhip29
Guest
bullwhip29

according to article, 101 of the 120 doors are still open

this “recklessness” amendment still allows for participants to play dumb as they can claim they were not aware of what was going on

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