Trudeau announces 82 billion in aid, think there will any money left for a gun buy back?
Printable View
Trudeau announces 82 billion in aid, think there will any money left for a gun buy back?
Yes, because the budget will balance itself..Quote:
Originally Posted by bdog
Let’s hope it stays in Canada
WTF are we going to find another $82B? Something has gotta give down the road.
You gotta be joking manQuote:
Originally Posted by canadaman30
It's paper, like toilet paper, it has no standard to back it up. If all fails you can plaster it on the walls in the outhouse.
I have read that Fort Knox, does not hold all the gold the USA claims is in there. Their currency is propped up by false claims.
Like most governments, I never understand them, they make me mad....
They always like to spend in good times........
They need to spend in bad times to get the economy going.....
They never save for a rainy day..... and it looks like it going to be pouring for a while......
The US Dollar hasn't been tied to Gold in probably 50 years.Quote:
Originally Posted by fishermccann
Well it is the LIbEral'S in power now.... this lie is about $100B by nowQuote:
Originally Posted by fratri
https://www.youtube.com/watch?v=iY3I2ewuxQ0
... let's see Ontario and Quebec get $20B each, $30B to the countries in need, maybe $10B for East and West Coast and Alberta and the left overs get the $2B... after about $1.8B in federal spending and bureaucracy...
A nice legacy we will leave for our kids and their offspring. Sunny ways my friends, sunny ways.Quote:
Originally Posted by trimmer21
After this world health crisis ends, our country will be in better shape than 98% of the rest of the world.Quote:
Originally Posted by warpipe
Fancy socks will give to needy countries firstQuote:
Originally Posted by fishermccann
It's no joke, that was the famous line Trudeau used to get elected..lmao. that's all you have to tell people to become prime minister of Canada...lolQuote:
Originally Posted by bdog
I hope you're right,but,really,I can't see how.Quote:
Originally Posted by fishermccann
That's been a conspiracy theory for decades ... they say the gold was moved out long ago, and then they got the idea to just not back the currency anymore ... apparently some countries asked for their gold back (Knox was used to safely store other country's gold) and the US refused. Who knows what the truth is...Quote:
Originally Posted by fishermccann
So, what does that matter? We're still in big trouble financially.Quote:
Originally Posted by fishermccann
I can tell you, he (or rather the tax payer) is going to need a lot more than $82 billion to fix this economic damage.
Exactly, 82billion will be no where near what it's going to cost, go back and look at the history of flu, starting in 1918 to now, I know there was less advancements in medicine compared to today, but there was also a lot less people traveling and to spread the virus
The gold in Fort Knox is irrelevant. The US began abandoning gold backing in the depression and the value of their $ has been fully independent of gold since the early 70s.Quote:
Originally Posted by fishermccann
This is bad:
https://globalnews.ca/news/6720551/j...-support-bill/
This would give a minority government the ability to tax and spend without any support from Parliament. Regardless of what your political stripe is everyone needs to understand how bad this is. We would have an unaccountable government when it comes to our money.
Money will definitely be a problem if it's just wasted. Canada would be so broke,if it cost $1 to go around the world,we won't be able to afford to get out of sight. I'm much more concerned what this unaccountable minority government can do to our civil rights.Quote:
Originally Posted by Dythbringer
Trimmer if what this admin might do scares you. Your about to have nightmares.
News last night. They are giving themselves sweeping powers.
To:
Corporate bailouts without restrictions.
The power to break patents
Raise or modify taxes without parliamentary approval.
https://nationalpost.com/news/covid-...box=1585009019
Thankfully, Scheer saw through that Trojan horse, and refused to support the bill until amended......Quote:
Originally Posted by JBen
The problem will be with the other leftist parties backing the Liberals,they'll literally have "Carte Blanche" to enact any legislation they want. Left wing parties like the NDP and Green's being big on control and socialist/quasi-communist dogma,aren't real big on common sense,fiscal restraint and civil rights.They could quite easily steamroll the opposition and until there's another election,they're isn't a damn thing we can do about it.Quote:
Originally Posted by rick_iles
I’ll be honest and open ( when am I ever not) :)
I’ve taken to meditating again. My brain is hard wired to work certain ways. It’s been burning jet fuel the last month.
On one hand, even with this topic. I suspect it (or similar) is needed, going to be needed. On the other, or as a result, I’m “ terrified”.
So, meditating helps quite my mind. Remind me, it’s all out of my control. Whatever is coming, in the few days, over the week. Will Covid touch my house, or my daughters. The economic fallout that’s sure to come...
It’s going to be.
From what I’ve read, it will take all party buy-in to get passed.Quote:
Originally Posted by trimmer21
Trimmer.
Facts are.
“Socialist” countries today, are faring better than we are.
And I imagine, will have a softer landing.
As I said. “Terrifying”
Socialist, 'light', countries are also the ' happiest' in the world. Led by Finland, Denmark, Norway, Switzerland and the Netherlands. They are also all in the top ten for 'quality of life'. Go figure. :thumbup:
We could do that,too,if we weren't too busy shutting down our "paycheque" industries like oil and gas,renewable natural resources production and sales. Besides,"socialist" politicians in Europe seem to take a more mature,common sense attitude towards fiscal and social responsibility and restraint than ours have shown of late.Quote:
Originally Posted by fishermccann
People in 'socialist' countries work for the good of the 'state' and its people, not for the good of corporations, and their shareholder owners. Spread the wealth. Totally different mindset.
And guess what Gord. The difference in pay, between the haves, the have nots. Be they Dr, Lawyer, Teacher, file clerk, cashier.
Isn’t as great.
In fact, because they have free tuition, many study what interest them, not what will pay them.
And on
And on
Perfect?
Not by a long shot.
But FFS. Look around “today”. Whose getting the snot kicked out of them, and who isnt.
Other then Norh Korea/Belarus and maybe few odd third world countries -which country You think this is happening....??? Seriuosly!Quote:
Originally Posted by fishermccann
Russia? So not worried about it, they are sending testing kits to North korea..incase they need them. Which they don't.
China? Now sending Drs/Nurses to italy.
Neither would do that, if they were worried about their own countries.
This discussions came up yesterday elsewhere. Someone said " I'd rather not see Chinese officials dragging the sick from their homes". I said.
Italians are begging their government to come cart their dead brothers/sisters/mothers/fathers/children away.....
https://www.worldometers.info/coronavirus/
Russia is also building a large hospital just like China did
https://m.youtube.com/watch?v=ONAywF9jCeM
Walmart heirs are worth 150 BILLION dollars, in US currency. If they gave only 50 billion of that to their over 2 million employees, each one would get 25,000.00 each. Would only having 100 BILLION affect their lavish lifestyle , not one bit. Did they 'earn', that money, no their employees earned it for them. What would their employees do with that money? Spend it, ( stop recession?) likely at their own stores. We are at the stage of the French revolution , where Marie Antoinette said, 'let them eat cake'. And we know how that worked out for the 'haves'. No one who works full time, should live in poverty, ( many walmart employees in the US , rely on food stamps), when others in the same company, ( even owners), have more money than they could possibly use in 1000+ lifetimes.
Meanwhile, the DEMs and REPS can't get didly done.
I am glad Scheer put a stop to JTs power grab last night. Even CBC or it might have been CTV has a blurb this morning that he was grabbing at dictatorial powers.
But as I said initially.
Something ( I don't know what) and some measures ( We might see negative interest rates ) will be needed.
The landscape changed post 2008. Some, there were some small wee changes. If we break it down to the brass tacks.
I can't see the future, mildly optimistic this time around, there will be change. Political, taxes, how that money is used, the way people live, the way people view and look at others. In one week we have laid off, the entire food services, retail and others. The sheers numbers of the "have nots" losing jobs, not spending...losing homes, more snowballs could, start the end.
Today, truckers, garbage collectors, janitors, many more are the heroes, keeping us going.
We, not politicians, not the electorate, learned a thing from either SARS or 2008. This time around it's both at the same time.......
Emerg and ICU doctors and nurses risk their health hourlyQuote:
Originally Posted by JBen
Sent from my iPad using Tapatalk Pro
My father was a Firefighter. “ died in the line”, and that doesn’t count multiple broken bones, damage to his lungs from ammonia (plant fire that one). Nor the times he’d get off work, go to the legion, come home drunk ( always knew that was a bad shift).
I recall the dress parade as a teen. Ask me if I gave or give 2 craps how or why he died. Dead is dead. Whether nurse, or gas station attendant, in Brampton that tested positive.It’s only other that think of some as “heroes”.....
all are needed in a functioning society. By all means Ontfarmer, try to live your life with garbage collection for the next 3 months.
Btw none of the above, not nurses, not FFers, not cops. Make the top ten most dangerous.........
I guarantee you, the children of any lowly janitor keeping a hospital sterile, protecting the nurses don’t give a crap either.....
Well, that's all fine and dandy, why not scrap the crap CBC and split that billion between Canadians for the next ten years? What did the CBC do to earn that? Work for it? Not so much.Quote:
Originally Posted by fishermccann
There's a whole lot of fingers that can be pointed. Its futile.
Sent from my SM-G960W using Tapatalk
Does anyone here think the banks have grown a conscious? That they are doing people favours, deferring mtg pmts up to 6 months?
No, they aren’t. They are hoping to get ahead of credit defaults and foreclosures. If that snowball get going. Lookout!! They are hoping to save their own backsides.
The Feds have Already bought 50 billion in insured mtgs. Same thing
The cons stopped this “blank” check. Why?
check the history of corporate bailouts.
Again, I don’t know what, but something needs to be done and soon. Tick tock.
Else the dirty lowly masses that outnumber the haves, that few appreciate, will start or could start defaulting on CC, credit lines, car loans and mortgages........
what happens to the GTA when people with million dollar homes. Find out a snowball that started with the lowly, has resulted in a home that’s only worth say 600k. And the mortgage is 700k
I don’t point my finger at the 1% as many do. They are, no matter how much they have just 1% of the population.....I point it at the 20%
Divide 35 million into 1 billion. So each Canadian gets almost 28 dollars, divided by 10 years, well here is your 2.80 a year to do what you want withQuote:
Originally Posted by oaknut
Good read.
https://www.latimes.com/business/sto...falls-warnings
and who benefitted from share buybacks. Shareholders.
those that have 10s, or hundreds of thousands in the markets...
the 20%
like Fisher Mcann
I know no one will feel sorry for me. That money that I invested,which is now 25% gone, I worked to earn. I lost the price of a nice Porsche in the past 3-4 weeks. Do I feel sorry for myself, no, because I will not loose my house like many will. I always appreciate what I have.
That's the key,though,not having a mortgage or being balls deep in debt. The 25% we lost in the last two weeks will eventually return to normal as long as we don't panic. For some who still have some liquidity can see the glass as half full. When stocks hit a low,buy as much as you can,then,sit back and wait. Recessions or "corrections" as some call them can be very lucrative with the right mindset.Quote:
Originally Posted by fishermccann
Hate to say it but I look at my investments last night I’m down 4 of your PorscheQuote:
Originally Posted by fishermccann
When I started out I was paying 22% interest yeah I earn what I have pretty much destroyed my body getting it too
It’s best not to even look !!!
G, that does not change the fact you are part of the problem. And how many G's are there ( 20% of the population) with X tucked away in pensions, in RSPS etc. Whats that doing for the economy? Squat, thats what.
You gripe about the 1%...They are only 1% of the population. They earned their money too..Curious G, over the years have your investments doubled? Tripled? You gripe about corporate greed. Ok
Give all your money back to the peons, its doubled, tripled thanks to corporate profits....
Give a lot of RSP money back to. You've received nice tax breaks from those....taking from the peons....
and on
and on
and on
Trimmer:
How many people don't have 100k in savings. or very, very little. How many of them are under 5 or 10 years from retirement. They don't have time...
and on
and on
and on
:)
Yes JB they are only 1% of the population. The problem is they have 90% of the wealth. I am for balance. Our family gave up nice cars , extravagant vacations, we are on basic cable and cell phone plans, to enable us to make those investments, for the future. We had some foresight, looked to and planed for the future and did not spend money in the 'now'. How am I part of the problem? By being responsible?
Great, your all for balance. Im for addressing the growing wealth gap, and while the 1% are obscene. That wealth gap is between the upper and middle class. The 20% and everyone else....This is inarguable..Worded differently your no different than the 1%ers.
though there is a very slim possibility this time around it's too late, and its going to bite you and all the other haves in ....
Finally. Thankfully
As you said "Marie Antoinette" per se. Except its going to hurt you in the way that matters. Your pocket book. A couple economist I still read occasionally ( at times like these, Alberta). This has the potential ( stress that word) to make 2008 look like childs play.
Your answer isn't figuring out how to give them more cake, your answer is anyone but me. per se.
Another clue, your part of the problem?
You've been watching the market value of your RSPs. Compared your losses to the value of a Porche.....
Me? I haven't looked to be honest. I know better.
My quick look last night must have boosted Bayer stocks :)Quote:
Originally Posted by rick_iles
sand for this reason is why I pulled my funds and am in Cash. I too lost a couple of porsche's but didn't want it to end up being a ferrari.
Anywho this has slid off the original.
Which are measures those in Ottawa, can, might, or do take.
The solution is the same as before covid19. Get people good jobs. It ain’t that hard. Whatever Canada has that the USA wants start tapping it now.
Fools in charge won’t do squat.
True Glen. Very true.
/points to Ontario. The carnage of 2008 and manufacturing. Government um. Spending, taxes.
/points to Alberta/Energy.
Sure guys on the rigs make great $$. What about the thousands that $ is supposed to “trickle down” to in downstream industries....
Would you go back to work for $35k if it meant you could get this?
And while your income tax rate is the lowest. It’s still 20%. You still have HST, gas taxes, sin taxes, fees for your plates, this, that and the other.....nor do you have the money to get tax advantages like tax deferrals from RSPs...
Stagnant wages are a part of it as well. But the bottom line.
Is the bottom line.
incase it’s not clear, though it should be. How do we convince the government to tax less, spend/pay less. And companies, big or small to pay more.
2008 was a nothing lol
2001
1976-7 oh yeah that hurt
We’re in a 3 days with gain might fall Friday who knows
My bottles open
We need to turf the village idiot and his band of nitwits , get pipelines built to get our resources to world markets, and get Alberta working again. None of this will happen while the Liebrals are in power!!!Quote:
Originally Posted by js4fn
Lies about SNC, budgets, ethics, screening.... to many issues to just call them nitwits ... incompetents or saboteurs!Quote:
Originally Posted by rick_iles
As for getting rid of them ... X2
$184,000,000,000 deficit.....
https://www.thepostmillennial.com/de...virus-spending
An article in today's Toronto Sun says over 1M Canadians are staring bankruptcy in the face in the next two months. Many small businesses will never return. The fiscal fallout from Covid-19 will be worse than the virus effects.
You better believe it.Quote:
Originally Posted by trimmer21
A long stretch vs a short stricter rout is going to effect many far worse then the virus itself.
Just think of how many small businesses rely on this time just to survive the winter months. Most will be loosing 75 percent of their income or work over the season and many many not even open, depending on the line of work and restrictions in place.
Sent from my SM-G960W using Tapatalk
Do feel for them but it is not all gloom and doom.......as there will always be someone or something to fill the void..... It may not look good for certain individuals or some businesses for sure (right now) but this void will get filled with new businesses. After-all once this is over and we get to leave our homes freely, we will need to spend our money on something. I just figure it will all work out but do feel for those losing what they have now. Not good times now for sure, but am optimistic there are good times to come, fingers crossed.Quote:
Originally Posted by fishfood
I'm with you on that. The buying spree for a certain percentage hopefully will stimulate the businesses. Fingers crossed.Quote:
Originally Posted by fratri
Many economist are predicting a very sharp, and steep V. Very painful ( last 2 days news).
Oddly exactly what we are trying to prevent with Covid.but inverted.
Problem is, that like the elderly and those with less ability to fight Covid off. We’re ok with sacrificing them?
Quite the conundrum.
The other reality is, while the economy will bounce back, a lot of sectors will lag. They need time. Regardless Ontario alone if forecast are accurate and Fords won’t be because they based their projections on 0 growth ( many now say -6 to -8%)
22billion deficit
And tax revenue in the toilet.
And huge bills still to pay
Six months ago I was looking into getting a new truck. I am glad I put that off, as there should be some good deals on vehicles , when we are able to shop in person again.
That's exactly what I'm waiting for since I expect prices to drop more. They're still a bit below the norm right now but I think dealers will be hurting much more before long and they'll sell at rock bottom prices just to move stock.
I'd be inclined to watch the lightly used market Sawbill. There could be a lot of toys up for sale at a steal. New inventory, will be there a long time. As much as everyone agree's there will be a pronounced rebound. Larger ticket items, consumers are going to be gun shy and leery of opening their wallets.
If the real estate market really tanks , I am thinking of picking up a couple of houses, become a slumlord. You know for 'investment' purposes.
Lots of SOLD signs on houses around here still...Quote:
Originally Posted by fishermccann
Two of my sister in laws are real estate agents in Durham. One very successful, one just starting out. Both have had just 2 showings the past couple weeks.
https://creastats.crea.ca/en-CA/
This is traditionally the spring market when the number of new listings/transactions take off. They are down 15% for March.
If I am selling, I sure do not want an open house , where a bunch of strangers walking though my house can touch any-every thing.
Would be a welcomed relief if house prices dropped and my kids would have an opportunity to get into the market. However on the flip side what does that mean for people that have used up the equity in their homes to pay down credit cards, car loans etc...... This could go either way and I too would love to jump in and buy a few houses if prices drop.
I'm only buying new stocks easy money you know they are only going up. They have been up the last week but I see one more big drop coming in the near future. If I am wrong oh well still easy money if you buy before we get outta of this mess.
Invest wisely there is some good money to be made this year. [emoji106]
Sent from my SM-G960W using Tapatalk
Almost chuckling at wishful thinking for a real estate crash. :)
Guys. As appealing as it might sound, you don’t want it. And that’s a snowball should it get going that would be impossible to stop. Could, make what happened in the US in 2008 seem like child’s play. Because CDNs as a whole have more household debt today, than Americans did in 08. Because our real estate, since 08 has been on a tear. People paying stupids amounts. Taking huge mtgs. Let’s say you bought a “million” dollar home, and had the 20% down. That still leaves a mtg of 800,000. So when the house won’t sell for 700, or 600, or 500.....
Let’s “play” what if.
The losses the banks would incur could shake the foundations. Maybe they could survive it, unlike banks in the US...or Greece... There would be a credit crunch ( choking off of liquidity, which is like clamping the aorta) just Iike there was in 2008. So everyone’s ability to borrow would be severely curtailed, including companies..Our bank, the one I worked for had trouble getting credit in 08.....and we had billions in assets, hundreds of millions, in capital.....
More job losses, more homes going up for sale,..market values would get kneecapped. Your savings, your RSPs, wiped out.
There are reasons the banks are willing to defer mtg and credit payments. Reasons why the feds are buying up billions in unsecured mortgages, provincial bonds, etc.
remember 08 started with the the collapse of Lehman brothers.And some others engaged in “derivatives”. It shook the world.
https://en.m.wikipedia.org/wiki/Fina..._2007–08
I do not think anyone is wishing for a crash. If life gives you lemons...make lemonade. Or to put it differently , if life gives someone else lemons, buy them cheaply and make lemonade for yourself. Some people, ( those not in debt), made a lot of money, or acquired at lot of things cheaply, after the crash of 08. There were still a lot of wealthy people in 1930 as well.
With what Gord? Savings that won't exist ( worst case), credit you may not get, or the hundreds of thousands you have tucked under your bed. :)
CDIC only insures you for $100,000
No need for credit . My stocks are recovering nicely. Have some guaranteed investments spread around with different institutions , that can never lose money. And CDIC covers 100,000 for EACH account. Don't put 500.000 in one account. Open five, with 100.000 each and you are fully covered.
lol. Please don't take this wrong. If we were at a table you'd see the smile, twinkle, and hear the tone of voice.
You don't really understand finance do you?
This is a huge if, huge. One i don't foresee, but never say never is my motto, and these days...Nothing like it, not even the great depression of 1929. And unlike 1929, this is global.
Stocks? What stocks Gord, they won't be worth the paper they are written on. Nor will your pension. Everybody and their uncle will be dumping their stocks, if it starts, and you cannot compete against the money managers. and whose paying you interest? Financial institutions that lend and borrow trillions each day between themselves?
What part of we couldn't get credit....did you not understand? So when one bank starts having trouble meeting their obligations.......
Do you think the province pays off their debt, every single day, that various notes and financial instruments mature? Or do they re-finance? Do you think, the banks themselves don't have trillions in this that and the other, And won't have creditors far larger than you screaming to get their collateral back, their money back? We couldn't " borrow" because we were exposed to X, who was exposed to Y, who was exposed to Z and in trouble...And Ill tell this much publicly, we had things on our books with billions, with CIBC, BNS, OTPP (they farm out risk as well), so when we go down, CIBC and BNS and everyone exposed to us. We were tiny players. Years later we did go down because our liquidity was cut off in Germany.
NBC and OTPP took big hits.
here in Canada, If one bank goes, they all go. Its both a big strength, but also a weakness.
https://fincad.com/resources/resourc...it-derivatives
Unlike the US government coming to the aid of the financial sector to bail them out in 2008,our Canadian government couldn't begin to bail our banks out because it,too,is buried in debt. Our banks will find themselves holding a shyte ton of empty accounts and uncollectable debt when Canadians simply default under the pressure. History repeats itself and we never seem to learn.
How do you think that the USA became the worlds leader in debt owned? But all anyone talks about is how well their economy was doing before C19. They were living on credit, like most governments are going to have to do now. If all banking and financial systems fail , so will our society; the result being anarchy. That is my Nostradamus for the day.
Canadian banks will not fail and our government will not let that happen. Don't forget the Insurance companies as well which are able to take on debt as they are some of the richest in cash!
Hunter.
Why then are the banks deferring mtg payments, willing to "negotiate" other forms of credit. Why are the feds buying up billions in unsecured mtgs.
Will they? highly unlikely but it can happen. Im sure the US thought the same.
But even if they don't, the losses can be substantial. And that in itself will trigger ripple effects, mass sell offs of the equity markets....
*****
A basic asset swap, something virtually every bank does. Used to do far, far more prior to 08.
I would sell Bank A, 500 million worth of stocks. Stock I didn't own. often to them ( off market or as block trades on the exchange)
I would borrow 500 million of all those stocks from bank B ( sometimes even bank A).
I would be long 500 million cash from the sale of stock. I would use that cash to buy BA, BDN ( banker acceptance, Bank deposit notes). Gords GICs.
I would use the BAs as collateral at which ever bank I borrowed 500 million worth of stock from.
Bank A would pay me, as terms of the swap interest on 500 million. Usually CDOR -spread.
We would then off load everything in germany.
Our depositors ( the Gords) would deposit their cash in our bank in Germany. In order to make everything good. Our German bank would sell 500 million worth of US T-Bills they didn't own to a 3rd party here in Canada. I would buy the 500mm of US TBills from the 3rd party, and use as collateral in Germany or more often they would borrow it from me.
So when we have trouble refinancing ( rolling) the "BMO BDNs" that mature April 17th.........guess what.
I don't know to word it succinctly. google the global swap markets. All the banks in Canada do not have the cash....
Back in the early 90s, I worked for Bankers Trust. Doing the same kind of stuff. Google them and Gibsons greeting cards, proctor and gamble. One of our bigger counter parties then was OMERS....Google CIBC and Enron. Which at the time if I recall I had about 1 billion worth of crap on the books with CIBC capital markets.Wee were gnats...
When sub prime in the US got in trouble in 06. I had about 1 billion of asset backed securities on my books ( bought from our banks) and used as collateral at our banks. You could also google and read "When genius fails". A time back in the 90s the US almost went caput. Didn't get much play back then.
Will it?
Doubt it, but never say never
The gov't is putting banks on the hook for loans etc. that at this point are unlikely to be repaid, that will hurt them. However their financial health is on the scale of Godzilla, they look like a buying opportunity or maybe since I have time now, in and outs using HFU and HFD stocks. In 2 years they are likely to be back to their January numbers... where else is there the potential for almost doubling your money (+ dividends, IF you buy the stock not the market stocks like HFU)
When you look at the banks that have failed, and they are interesting, it is usually because of aggressive plans that failed. The Canadian banks fit the old Japanese Godzilla analogy fairly well, slow, crushing oppositions and short of nuclear attack almost undamageable.
Jben you can't compare the banks in the US with Canadian banks. I never said this pandemic and the possible crash in real estate won't hurt our banks.......I said they won't go under as a result of this. Sure they will be creative and defer mtg payments which not many people i believe have taken advantage of, because in all honesty there is no advantage in doing that unless of course you have no choice.
No you can't, our system is stronger. But we also just have the 5 big ones ( for all intents and purposes). Liquidity matters.
And the Govt isn't putting the banks on hook :). They are taking the risk buying up some unsecured mortgages, buying different kinds of bonds. And the banks are covering their backsides, if you think they care about you, have a heart and want to be nice by letting you defer mortgage payments.......when too many of you start defaulting on credit cards, on credit lines, on mortgages because you can't make payments, and or the price of your house isn't worth the mortgage......which they would then own...
I linked fincad and derivatives for a reason.
Heres a paper from the Bank of Canada for Interest rate swaps.
The Federal Government's Use of Interest Rate Swaps and ...www.bankofcanada.ca › uploads › 2010/06 › kiffe
Heres a link that touches on the use of Interest rate swaps here in canada. Companies, governments, all financial institutions use them to farm off, mitigate Interest rate risk.
In 2010 the notional value ( book value) was 434 trillion.
The interest rate derivative market has grown in volume over
the years. The notional amount of interest rate derivatives
outstanding was $434.1 trillion at mid-year in 2010 compared to
$201.4 trillion at mid-year in 2005 according to the ISDA Market
Interest-rate Swaps: Hedge or Bet? A Case of Canadian ...caia.org › aiar › access › article-917
Survey.1 The use of interest rate swaps in the corproate sector has
been studied extensively. A study of 500 big firms surmises
Liquidity is like blood. Choke off the aorta and....
choking off liquidity happens when....
Yeah it's the best time to buy when alot of shares are 50 to 60 percent down.Quote:
Originally Posted by mosquito
I'm investigating in a short term 1 year should almost double my investment "hopefully". Yeah it would be great for a long term investment but I am not worried about the long financial investment. Easy money money to be made now, its horrible but everyone needs to make money and now is the perfect time to get a nice boost on the money we do have.
I turned down a job last week my regular job might not even happen this year .I talked it over with the wife that I would need to find a new line of work,she wants me to take the year off lol. If I'm lucky I will make enough to retire next year. Become part of the trading group most people dont know they can retire on such little amounts. That is if they are smart enough to make money on the the money you have.
I even know a trader that uses the banks money to make his own income, something I would not recommend lol.
Sent from my SM-G960W using Tapatalk
Another indication I thought I'd mention.
I know a small business owner. He does over 7 figures in revenue a year. But it's a capital intensive business ( equipment, supplies, vehicles). His credit lines are big. Even with the governments 75% wage subsidy, he decided to lay everyone off. He recently applied for the small business loan banks are doing. its interest free. Are the banks doing that because they believe in from the heart out? Or is it worth it to them, give him tens of thousands interest free, and he doesn't have to pay back the full amount either. If it means he doesn't default on his credit lines( X hundred thousand) ???? He's just one small business owner.
i've mentioned the swap markets may times. No-one needs to know all the different types, what and why they are used. What the mechanics for them are. The "notional value" and they are like huge balls of twine with dozens of loose ends. Or the worlds biggest bait caster, the size of Ontario, with the worlds gnarliest birds nest. All that stuff is behind the scenes, stuff few know about. And it won't take a heck of a lot, for big problems.
Are we better than the US. Yep, we have stricter regulations, banks have more stringent stress test and capital requirements, etc etc.
But just because all the movies are the Wolf of Wallstreet, the big short, and many more...Dont think we are immune, nor that the rest of the world likewise isn't tied up in that massive birds nest. 434 trillion in Interest rate swaps in 2014 ( which primarily are used so that users can farm out their risk to rates, or even swap rates...say wanting 1 month interest rate exposure, instead of 6 or 12)
Someone mentioned life insurance a lit bit ago.
Lol, derivatives for life insurance were becoming popular around 2014.
https://www.investopedia.com/terms/i...derivative.asp
Yes, the 40,000 loan, as long as it is paid back before 2022 you only have to pay back 30,000. Any small business owner that isn't waist deep in cash and gold will apply for that. End of the year alot will pay it back, alot will have folded by then too.
The banks look at the longer term and failures are a short term issue so someone extending their mortgage or loan is a benefit in the interest and the fact there isn't a bankruptcy.
No financial institution is immune but Canada's bank... well Godzilla doesn't fit, Hyrda is a better fit, mortgages, loans, credit cards, bonds, foreign banks, investments... they hold enough of any one of them to be huge in that area alone, they paste the Hydra together and we have a Canadian bank. Damage one head the others will keep it alive and it will grow back bigger.
2 years ago, not sure what it would be now on a quick look but I think they are good, they've been getting $1B in profits so they may go hunting bargains too.
https://business.financialpost.com/n...-and-takeovers
The Big Six are estimated to have $14 billion of excess capital, leaving them with enough resources to pursue acquisitions, buy back shares or build from within
Pretty much Mosquito.
Back in the 80s, we had banks, insurance cos, brokers. The banks gobbled up the brokers when deregulation hit ( another problem in the us). They now have insurance and more ( though underwriters are still the big ones). Every 10-12 years one of the big ones will want to merge with another. There’s always big fights and teeth gnashing with the feds.
“Liquidity”
Prior to 2008 we had massive lines with them all. Which meant I had 5 lenders I could go to. Borrow hundreds of millions here, raise collateral from another. Tomorrow ( maturities, refinancing is often daily/weekly). Juggle things around, blah blah.
If that drops to three, credit lines get reduced, the ability to juggle, blah blah. It’s both a big strength, but a weakness as well.
Anywho, people can only guess how it might go. As far as real estate goes, the measure the feds have taken, to take some of the risk, and the measures the banks are taking are preemptive. For good reasons.
Careful, there's going to be 3 crashes ... the first pretty much happened. The second .... Q4 2020 or Q1 2021. Third well into 2021.
First was based on fear/panic in anticipation of COVID impacts. Second will be based on real business impacts ... insufficient orders, lots of bankruptcies ... Third is when massive layoffs are done, and savings are chewed through ... then we get into massive delinquent debt, and personal bankruptcies ... that's when property is going to tank.
I hope I'm wrong ... but I'm going to wait and see what happens. If property crashes ... might be time to invest. Got to be patient though...
Definitely careful! I've seen "safe" companies disappear (Nortel) or go belly up and the assets bought (People's Jewelers).Quote:
Originally Posted by MarkB
As for the crashes... usually the summer is a dead or drop time... the old idea was spring out and fall in if I remember right what an investor said once. It is likely when the payouts end there will be alot of businesses gone. My friends restaurant is going that way, no income, not enough deliveries to reopen, sold for 1/4 what he thought it should, according to the real estate agent if he had sold it end of 2019.
Patience is relative though, Index stocks like HFU are short time and watch but they are 2X, just today it went up almost 10%, the idea being to watch and you see 2 or 3 days of sharp down buy the UP (HFU) and several days of sharp up buy the Down (HFD)....hoping it doesn't keep going in the original direction. In, make money, out! The bank stocks are a different strategy, see them drop, watch, when they flatten out buy and forget you hold them and suck up the increase and dividends for years.
Question is what is your money doing in the meantime? if your parking it in cash, then thats great, as your not losing it but your not making anything either. If your in the market, then what will be left of it in a year from now?Quote:
Originally Posted by MarkB
The problem I'm seeing is that nothing seems to make any sense. In the past when jobless numbers came out and it was not good news, the markets would react poorly. Today, the jobless numbers come out and we are talking millions of unemployed, and the markets skyrocket????
I mentioned, in relation to people thinking the economy will surge back, that it wouldn’t.
It might be one of those few times Newton’s law of physics and for every action, doesn’t apply.
https://business.financialpost.com/n...box=1587135137
I'm one of those who believe the economy will bounce back. It might take a little bit longer than from most recessions but I think its the guys whose house is paid off, guys who make a good salary, pensioners with decent savings or regular pension income that determine the future of an economy, not the Tims or McDonalds workers. There's still lots of money out there and it will get spent whether its done over the course of a year or compressed into a few months when this ordeal is over. Hope I'm right for once.
The stocks dont have to be back to where they were to make huge gains. For instance look at air Canada be before this happened the stock hovered high 40 low 50s dollar per share. It dropped to a low to 12 something a share. It is now up back to 18 if you buy it under 20 and gets back up to 40 in the next year your doing ok. Maybe it it will be longer. It still wont be up to its normal for a while . Who knows they could end up bankrupt aswell. Lots will go under many wont
Lots of other stocks fell to 75 percent losses they dont need be back where they were if they stay afloat. Netflix has only gone up since this it will crash soon lol.
Sent from my SM-G960W using Tapatalk
I think it's a mistake to be 100% in one thing (cash, stock, commodities, property, etc). Also have a bit of each, and you just change the proportional amounts based on market conditions. Should always have some cash (or access to credit) for good bargains. If everything is humming along, I've been told a good target is 1/3rd property, 1/3rd stocks/shares and 1/3rd cash/monetary/commodities (gold, silver). That may change depending on where you are in life ... I certainly feel for retirees ... not easy for them right now. But if you have time for market recoveries ... best to think long term.Quote:
Originally Posted by huntervinni
In terms of making sense ... it's hard right now ... because things are moving so fast. You have "what has already been factored in" and I think the job losses was expected. The cash injection from the governments ... that seems to be partially factored in, but it was more than expected ... so that took the cake and stocks went up ... but at same time, will this last? Don't know, but I find it hard to believe governments are going to be able to pay their way out of this economic downturn. Let's assume average global tax is 25% ... and they burn at least 2/3rds of that on operating costs (salaries, etc) ... so what's left? 8%? So 8% of GDP is what you have available ... and that gets chewed up by other expenses (health care, police, education, etc) .... but let's assume 8% is what they have to play with .... how do you fix a 30% drop in GDP when you only have 8%?
I won’t get into the day trading, technical trading discussion.
If your timeline is longer and you watching the banks. Don’t try to time the bottom. Watch the dividend yield.
Div rate/share price.
As the price per share drops, your yield increases. In 08 I went very long some bank stocks. I didn’t care about “price”. They are considered low risk because their volatility is low. Not what you want as “day trader”.
I was getting over 7% yield, from the dividends.
If your into watching the indexes, understand at least a little what delta and beta are.
Just seen Cargill meat packing plant in Alberta closing. Employees sick.
This is not good
I don’t pretend to be a stock market expert but I think it would be useful to go back and see what the markets did after the 2 world wars. This won’t last as long as the wars did but technology accelerates everything now. People don’t wait for the newspapers to supply news, good or bad.
I also think that we can’t call what is and will happen very effectively. Goal posts move daily, mostly politically biased shooting from the hip as people deal with this. There seems to be signs of life with some jurisdictions talking about restarting the economy. Dunno.
I just looked at my investments I’m above end of November numbers. I’m happy and I have a few pennies
And this why people lose their houses “day trading”. Especially if they use leverage.
https://business.financialpost.com/c...box=1587377574
And people will go to gold. Guess what you need a buyer to get back out of it good luck this kind of fun takes massive balls
I worked with brilliant people, and we had sophisticated programs and models. None I worked with ever played the market. We “knew” better.
One of our trading desk, was what you might think of as day trading. No positions at close, so over night risk ( a war, a nuclear plant melting, bad news) was nil.
The actual name was high frequency trading. Might to dig into that a tad, if playing the markets. “Buyer” be ware.
https://en.m.wikipedia.org/wiki/High-frequency_trading
My father inlaw is a very good successful day trader my wife want's me to learn it so I can stay at home more often lol.
He averages about 300 dollars a day in trading witch isn't bad considering he only works a few hours a day from home . You will always have your losses as well ,he has lost plenty its never a guarantee but his daily average is ok.
Like Mark said and many others you cant put all your eggs in one basket.
Sent from my SM-G960W using Tapatalk
Is he doing individual stocks or buying some of the index stocks like HOU, HBU, HFU and the down versions of those too? Those can move alot too but tend to be easier to figure out the general trend since it is an industry instead of one stock. Two of those above in a month, who knows, in a year they should make good money, Bullion I have never figured out and have no idea on. Those you can take a bit longer goal on, day trading and individual stocks... better be throw away money because the odds aren't good unless you are following alot of markets, trends etc. and even then ... flipping a coin?
They should change the thread title, the last I head with the spending, foreign hand outs etc. we will be $100B past that or more for the deficit.
He generally plays with energy sections gas and oil but has investments all over. He has lived off the day trading for the past 15 years , his entire family has been in the market since the beginning of times lol I know he buys lots of shares so you dont need big moves he wont buy less then 5000 going upwards to 30 thousand at a time. Usually spread out 5 to 15 thousand shares in different places tho . I know he uses 2 computers for speed both the bank and market on a separate computer. That's all I know I dont usually dig to deep into it as its alot of personal information and I dont usually get into that with others lol. He says you can make money to from the stock going down aswell that's when I always get confused lol.Quote:
Originally Posted by mosquito
My wife wants me to go and sit with him and learn for a few weeks or a month of training [emoji1787] she loves it when I'm home this pandemic wont ruin our marriage lol. She has asked me for years to get into and stay at home and learn the market she grew up to it I didn't lol. Problem is I dont have the amount of money to stay at home and enter all the big fishing tournaments and a boat yet lol. Yeah I can stay home and live now but I'm going to retire on the waters 5 days a weeks lol. So more work and time is needed lol[emoji106]
I don't know much about it. I know it's a gamble and there are plenty options to make the investments and now is a good time for anyone new getting into it. Either a long term 20 year or a short 1 year lol .
My other fishing buddy he follows the world trade he gets up early every morning and will know by 7or 8 am to see if he is working or fishing lol.
I know I wont be investigating in just one lol. I have followed the market for many years but never bought into ,could of made some great deals at times tho lol.
Sent from my SM-G960W using Tapatalk
Sounds like good ones to learn from, maybe not for day trading if you don't have alot of dedicated time but as a good way to lean and maybe plan longer term investments.
Tell her to learn. She makes the money, you go fishing. Everyone winsQuote:
Originally Posted by fishfood
Couple good reads.
Deepest recession in record
https://business.financialpost.com/n...box=1588083007
Read between the lines and the import of a few paragraphs.
https://www.ctvnews.ca/health/corona...6PoxyxrfAMp9g0
Yep... and with unclear plans, no federal plans, masks and PPE and respirators seemingly still a huge issue, the deficit soaring, I would put us between the words "Aircraft and "Lift on this image....
https://2.bp.blogspot.com/-IR_Mw1aal...e-1%5B1%5D.jpg
Jobs will be gone, small businesses unlikely to reopen and all the while at the bottom of that planes path the Vets, disabled, retired, teenagers and probably atleast 1/3 Canada's population are in the Soryu at the bottom of that path.... while some of the countries that put in travel restrictions, screening, quarantines and listened to experts NOT in the WHO ...
ex. Taiwan that didn't listen, made people use masks (something Theresa Tam at one point said we didn't need at one point and CBC was saying as late as March 15*), didn't give away 16 tons of PPE etc. still hasn't gone over 500 cases for example and schools and businesses are still open.
* https://www.cbc.ca/news/business/mar...heet-1.5497270
an interesting and frustrating read...
https://edmontonjournal.com/news/pol...w-the-virus-2/
https://edmontonjournal.com/news/nat...low-the-virus/
Canada sent two planes for equipment to China that came back empty and we got a bunch of unuseable gear too....
Some of the conspiracy theories make you wonder, in the book I am reading I am just at 9/11 in 2001 an how El Quaeda talked about spending $100,000 to make the US spend $100,000,000 and die from many tiny cuts.... just reading that reminded me of the conspiracy theories, also fear and panic make a good way to take away freedoms too... I wonder if these types of travel restrictions etc will be used for say.... global warming.... that ultimate threat to mankind... ???
Hard to say Mosquito.
What is likely, and should be clear is that the end not in sight. Not by a long shot. Some seem to think, even a couple in this thread that the economy is going to surge back sometime soon...Every week, there’s more data, that showing its worse than economists initially estimated...
As for “re-opening the economy, and lifting restrictions..
Not happening soon given the stipulations that areas need to meet first, before restrictions can start being be eased. Whether tourism and Americans, or Asian’s, parts of the EU.....they aren’t coming back anytime soon....whether Oil, Gas and Alberta and more. Think back to October, when many sacrificed Alberta. Well they are going pay the price for that in the coming months, to two years. Our economy (the whole of it, is affected by that)
It further boggles the mind, our illustrious leader is parroting and allowing policy to be dictated by the WHO, UN. And watching Facebook, just as obvious many Canadians are indeed sheep. And that further, our own governments failures, are being swept under the rug, and Trump is a distraction.
Randy Hillier penned an open letter, yesterday that is spot on. If I can’t link it below, I’ll copy the whole text.
Worth the read and mostly spot on.
https://www.randyhilliermpp.com/2020...idcommandtable
Very interesting read. Everybody should read it.
I thought so too.... In fact I did a little more digging and came across this article, information piece.... It is a long read but you can skim through it and look at the numbers, charts... very interesting numbers.... If this is true, with all the empty beds, elective surgery should start up again...Quote:
Originally Posted by terrym
https://www.fao-on.org/en/Blog/Publications/health-2020
that article is spot on.......I was asking myself the same questions. Something just doesn't add up here. The nonsense that we have to rely on the government to take care of us has to stop! People have to stop asking government to step in......we need less government not more.
Isn’t it though......
I suppose I could ruffle feathers, be blamed for more. But if your a politician in Ontario.....who has long been accused of cuts to the frontlines, wanting to privatize stuff.......that all the private facilities are closed. Especially in small town Ontario, where they don’t have large hospitals with capacity....
If your a politician in Ontario, and will be running again, fairly soon.....
There’s a few other things that might be mentioned about the lowly peons being hung out to dry ( PSWs, grocery clerks)...while highly paid people twiddle thumbs...
but optics and things matter. Like not pushing off unions...and having an electorate think you aren’t throwing a ton of money at “healthcare”....
Myself, I was being screened for cancer since Dec. while my “appt” for May 1st with a Hemotologist is on ( others cancelled indefinitely). It’s now a “telephone” appt...seriously? Not sure how checking my blood for cancer, Luekemia, a couple others will be done over the phone...
And as for all the um paradoxes........failure by the feds etc...”what more can be said”...
They were talking about sending the doctors in last week to the long term care,I guess that is just more talk and no action from our government.Quote:
Originally Posted by JBen
I think I mentioned this last week that hospitals were not at full capacity.
Why are we still lacking test? They said 6 weeks ago they wanted 20 000 test done my mid April . Is almost may and we are only doing 12 000 a day . Well behind just like everything.
The USA built 150 000 ventilators way to many they are giving them to other places now . They are testing over 200 000 thousand a day looking for a way to test millions a day to get back and open up the economy. They Also have some empty beds but they made thousands even put almost 3000 thousand extra beds in new York. Next they are going to be working on the proper ppe supplies .
All talk and no show from our great government Easy for them to say I guess.
Sent from my SM-G960W using Tapatalk
Mosq
The 2 empty planes was pathetic such a waste of money,time and effort. Like I said last week what is the storage facilities doing that our government is paying for
Holding and storing air.
We can't really put the blame on dc tam but we can put it on the entire WHO team. They are an organization that is supposed to work together and help the world. So far they have not helped in a good way . Same as any other pandemic they have come across. They shouldn't be hiding and covering up anything, they shouldn't be telling lies.
Bottom line is the Who can not be trusted as a whole if the top officials dont tell the truth. The usa ,China and Bill Gates are on the top of the organization's financial aid to run this. The usa pulled out as they should
So one of the top contributors thinks it's ok to give false information. They praised china for doing such a great job but instead forced them inside and locked them up. They didnt do a great job there government forced them and locked them up.
They did such a great job tho setting new standards for their country. Locked up like prisoners your dog pissing on the floor of the house .
Sent from my SM-G960W using Tapatalk
Saw this the other day t was posted weeks ago before the the original video of fire Dc Tam before the USA pulled out of their funding to the who.
https://youtu.be/yvVutc9uHr8
Sent from my SM-G960W using Tapatalk
Good read and definitely has to be on the minds of everyone.Quote:
Originally Posted by JBen
In hind site though, it's easy to pick on anything.
But no doubt ... there's a couple of things that were obvious from the beginning:
- the rules were inconsistent and even hypocritical ... okay to walk the dog, but not go fishing ... we are told to wash our hands 300 times a day, sanitize everything to the point that Clorox wipes are more rare than gold ... but there's no hygiene enforcement in grocery stores for instance there are people touching the crap out of vegetables with their bare hands (I personally saw a guy at Walmart with no gloves handle about 40 red onions, he was squeezing them ALL, just to take one or two to buy ... I exchanged words with him).
- there is/was a lack of common sense ... at first it's "BAD" to wear masks ... and then it was okay and in some places mandatory ... I was like ... yeah, I'm going to wear a mask if I want ... I always recall my father saying doctor's in the 70's were saying smoking was good for you ... it killed the bacteria in your lungs ... lol. No one should exclusively take advice from doctor's ... rather get a rounded opinion. No disrespect to doctor's here ... but health is complex.
- we need a balanced approach ... although I agree we had to be conservative in our approach to ensure we understood the consequences instead of dealing with them in retrospect ... I don't see much time spent in the past 7 weeks developing a logical plan to balance the risk of COVID with saving our economy. I think it's fair to say if we just listen to the doctors they'll have us stay locked up in our homes for 2 years, and we'll all be dead from starvation by then due to the greatest depression in history ... What has been done in terms of planning? I hear 90% - 95% about the same old, stay at home ... very little planning ... time is precious, and it was wasted. Here's what I would do ... identify high risk vs. low risk people (in terms of severe health consequences if they catch COVID). Send the low risk people back to work, and ensure we do things to slow the spread ... not to necessarily prevent contamination ... my thought is almost everyone will get it eventually ... you just don't want to inundate the health system, as some of those low risk people will still get it bad, and need to be treated. For those high risk (prevailing health issues, age, etc) ... need to accommodate them to AVOID contamination.
Anyhow, that was longer than I intended it to be.
True that Mark, hindsight is 20/20 and some latitude has to be granted. But at the same time, when it comes to policitcs thats what matters. Whether it’s Fords handling of this/that, JTs, or Mike Harris. After Rae the fiscal house was a mess ( can you believe, better than what Ford walked into?). But, in fairness, with the benefit of hindsight, we know Harris, while he did some good, had some largely as it turns out now good ( or quasi right) idea’s. He had tunnel vission, and his execution was shall we say wanting, with real prices....
The private clinic thing staggered me. I didnt realize they were all closed and weren’t being utilized at all. So not only did they ( and its a matter of conjecture why, though a fairly safe bet can made with respect to the Unions and an upcoming election), close all of them, redirected all our resources into hospitals, namely the big cities.......People cant go to “cottages” because, small towns don’t have the resources....Not to test, not to contain, not to treat....Private clinics in small towns could have taken up a lot of that strain...
We knew in early March what was happening in Italy, knew LTCs could be an issue. Yet, we know now, they were hung out to dry. Not important enough for what scant PPE we had to boot.
And on and on
Can’t wear mask, yes use them. Can’t walk in a park, go fishing. But people can walk down streets, join huge lines at Costco....So much more on this, especially from the FEDs, Dr Tam.
The economic fallout from this, is worse than expected, is going to last longer ( though we knew some areas would lag and take time). The social, human cost of that is going to be huge as will the monetary. Both in terms of record deficits and debt which will choke us for years, and the cost to the peons, especially those who dont have it so good. Live hand to mouth so to speak, and you know, no-one is going to be willing to step up and save them. Sacrificial lambs, saving everyone else.
From the Sault today. This is but one small area. Most or some of us might have heard, used or at least seen Pine Portage at the Sportsman Show.
”[COLOR=#333333]The lodge, started by McGie’s father, has operated for 73 years and about 95 per cent of its guests are Americans.”
sad that.
https://www.saultstar.com/news/local...-be-the-sinker
In a way, I can't help but wonder why these businesses haven't salted away funds for just such an occurrence. They went through a last minute cancellation of the spring bear hunt a number of years back so you'd think this would have been warning enough to have a nest egg of cash just in case some disaster were to reoccur. And that disaster could be anything from a medical issue, structure fire, forest fire, polluted water system you name it. I suppose its easier to get bailed out with taxpayers money than stash some away for that rainy day.
Most outfitter businesses are run on shoe strings. Really,all they're doing is buying themselves a job for 9 months out of the year after they pay expenses and (of course) taxes,there really isn't a hell of a lot of savings. There's an old adage that old timer outfitters used when asked how to make a million dollars as an outfitter. Their answer was always the same "That's easy. Start out with two million."Quote:
Originally Posted by sawbill
T, I have family that operates a summer/fall outfitting business and they have been doing it for decades, dependent on the spring hunt, the summer fishery, and the fall bear and moose hunt. They recently spent a somewhat significant amount of money on refurbishing the place with all the luxuries only you and I would dream of. I've heard them cry poor way too many times to feel sorry when times get a tad tough. I suppose there are some who go year to year but certainly not all are in that boat.
Will side “somewhat” with Sawbill. Though I’ve been to places where they were run down. Operators don’t have the coin to fix them up. It’s a slow death spiral. And I’ve been to places that absolutely market to wealthy clients. Especially US clients. Haven’t there been threads on the forums over the years about these places, their prices and the fact they advertise in US dollars?
In the last 10-15 years eco tourism has become a fad. Something for millennial with cash and credit cards.. I would hazard the guess this demographic wants comforts and amenities.
The question might be. How many of them have the capital to pay for the upgrades, versus paying the bank.
Let’s also remember what the sportsmen show is like. As a youth, that section was what I looked forward to the most. These days, they are either prime dollar, or look to be in their last legs. And it’s a ghost of what it used to be. For most operators, it’s not worth the time/expense.
JBen
Good article, they definitely need to get things back in order in hospitals and LTC especially. They were say that over 30 people have died in Ontario because they did not have their needed surgery. Maybe something like a separate Hospital or wing where people are tested before they go in or something.
The economy isn't going to get better for awhile that is for sure! My friends that run the restaurant said they got a letter today from the land lord, they just got the loan and had been talking to the owner about the rent and the gov't subsidy... the management company for the landlord sent a letter saying they owed the full rent, the late fee penalty and had to pay by the 1st or be sued ...... no chance of any reopening etc. any money for supplies and staff will likely get used as rent, so they gave notice of closing. When I went to the bank today I had to stand in line outside and the one restaurant there had a sign up closed March 20th to April ??, the ?? WAS a date and it was tore off and I looked in and it looks like it had been gutted. Alot of landlords will find that I think, sell off the equipment or move it to storage to sell later, close the company and *****censored*** the landlord. Ones like the landlord for my friends restaurant probably look at the loan to run the business as their money more than the restaurant or stores owners and I doubt the decrease the rent thing will fly... if they had done the rent subsidy first it might have worked.... not now though.
We won't have a clue what the business closing, bankruptcies etc. will be until mid June or later, we are still at a high altitude in the dive bombers run! Then there is the effect on landlords, cottage owners that can't rent, hotels and restaurants that will sit empty... the bomb is still in the rack and the deaths from medical procedures, depression, domestic violence.... the bankruptcies will be off the chart compared to previous years... and today I still saw alot not wearing masks, for reopening they HAVE to make masks mandatory... but first they have to have them available.
Taiwan... still under 500 cases ... they've been rationing and requiring masks for months and I saw in the news they donate 500,000 to Canada.... wonder if PM Justlied Silly Socks is OK with that.
Whether its a corporation or not its a brain dead landlord who won't give an extension to a reliable rentor. That same landlord still has to pay taxes on that building whether its occupied or vacant. When the economy has been beaten down as it has of late who knows how long that property will sit empty before a new tenant will move in.
I will attempt to step on Eggshells.
As mentioned elsewhere my daughter got trapped in a furnace. Why? Because of some of the above. Thank god, she was locked in a tiny cell of a room for 23/hrs a day....that could have saved her life. But it should never have occurred to begin with.
Before March I’d had chest x-rays, endoscopy, colonoscopy, and MRI, pelvic and abdominal ultrasounds. I’ve seen ENTs, and a couple other specialist. That’s all on hold, except the blood specialist phone call Friday.
My fiancé. Who finished Chemo a year ago. And ended up having a bi lateral mastectomy found a lump a couple weeks ago. Because she is a survivor, she gets to see people. They sent her for a mammogram last week....At Lakeridge health. Durham center for Covid...seriously? There are or should be other places people can go, without having to expose themselves, and she is high risk. Interestingly enough, as she walked past what they nicely call the Chemo lounge. It was empty!!!
A year ago, there’d be 20 people having the red devil pumped into their veins, with more waiting outside. I assume that still going on..”but”..
What am I driving at?
Well guess....
It should not be this bad. Period.and there are reasons why
Some will, most landlords I have had to deal with... OH.. you got that $40,000 loan .... pay the rent now! They won't reduce the rent by 25%, they see that $40K as rent paying money, not supplies, COVID upgrades, staff pay money... the example being the pay the rent now, pay the late penalty or we will sue you that my friends are facing. I wonder how many will use the forgivable $10K to close and return the rest or just go bankrupt and not return any of the $40K..... but there will be atleast 1/2 maybe up to 3/4 that will likely never reopen if this stretches into June without reopenings.Quote:
Originally Posted by sawbill
Some of the biggest reasons can be traced back through the PM's office, Theresa Tam and WHO and right back to the Chinese dictatorship for the Wuhan Pneumonia. They need to rethink how hospitals and clinics etc. work and are organized, specializations instead of generalizations etc. Special setups will take time, some bug working out and education.... and more time, more money and repeat.... IF they have the backbone to do it.Quote:
Originally Posted by JBen
P.S.
Speaking of the rents before ...
https://business.financialpost.com/r...d-rent-surging
'Never seen anything as catastrophic': Malls in Canada face massive hit as unpaid rent surges
In the country's enclosed regional malls — a category that includes Toronto's Eaton Centre — only 20 per cent to 25 per cent of tenants paid rent in April
... and the rent..
The property owner is expected to kick in 25 per cent of the rent, and the tenant the other 25 per cent. The loans will be forgiven if the landlord agrees to lower rent by at least 75 per cent and agrees to not evict a tenant while the program is in place.
The management companies that run many of these properties will see themselves as the first priority of those businesses that get the $40K loans and will be unwilling to take a 25% cut.... that and everything else piled on, even my 3/4 closing may be high....
That’s is certainly part of it.
But the part that deals with hospitals. Facilities here.
That’s the Province, Hospital administrators and Unions. And other than one point coming the last I’ll say on it for now ( hopefully) as the real fact finding, what went wrong and why. Won’t come until the dust settles, the bodies counted, and the aftermath....
And getting it addressed that will depend on how much heat the electorate applies. They, are the problem. They have run the ship the last 20-30 years that ultimately has led to this. And the people, they are all supposed to be serving. Are the ones paying the prices.
I said $200B..... I stand corrected....
Budget officer says federal deficit could top $252 billion
https://beta.ctvnews.ca/national/pol...1_4918663.html
The federal deficit for the year could top $252.1 billion as a result of the COVID-19 pandemic, Parliament's budget watchdog predicted in a report that warned the figure could go even higher if emergency measures remain in place longer than planned.
Math time..... almost completely unsupervised and unaccountable spending..... so let's do some figurin...
$250,000,000,000/35,000,000 = 7,142.85
So EACH person's portion of the NEW DEBT is $7,142.85.... so for a family of 4... $28,571.42
:scream: :whacked:
Throw in another half billion for the gun ban they estimated 250 million but you know how it works.
It was already in the budget this year may as well spend if fast before another tragedy strikes.
Sent from my SM-G960W using Tapatalk
Thank goodness my wife and son got their $6,000 of employment insurance (which we still have to pay income taxes on) ... that will help pay the $29,000 in debt we owe now! What a joke ... this is why we keep saying ... who's going to pay for these freebies???Quote:
Originally Posted by mosquito
The way Trudope has been handing out money in the multi millions lately to every Tom, Dick and Harriette the budget will no longer balance itself. Even he might clue in on that. I figure he's probably dancing around in front of his fireplace every evening because he now has an excuse to cover his abysmal financial dealings of the past.