Prepare for the worst
Depression may be unsure, but not improbable, Turner says.
(Media release) — Quietly, growing numbers of Canadians are snapping up home safes, hoarding cash, buying gold and installing generators, and a new book on the current financial mess predicts this is just the start of a rush to prepare for possible economic collapse, even depression.
Garth Turner, whose 2008 best-seller “Greater Fool” correctly forecast the current residential real estate meltdown, now says “doing nothing is no longer an option” for families facing a crumbling economy. His latest book, “After the Crash: How to Guard your Money in Turbulent Times.” explains why the money contagion now sweeping the world will affect everyone, and could devastate those who fail to get ready.
Among the potential consequences:
• Big new drops in house prices.
• Neighbourhood food shortages.
• Fewer government services. More electricity outages
• Trouble for the Vancouver Olympics.
• A pension crisis.
• Cancellation of some credit cards.
• Empty Big Box stores.
• Despair and debt in the suburbs.
• Firewood at $300 a cord.
• Even a loss of confidence in a Canadian bank.
Turner says any of these – or all of them – are possible over the next two years or more, after the crash of the biggest bubble economy in history. Even a concerted effort by governments around the world, zero interest rates and trillions in new spending may be unable to prevent a deflationary spiral which will cost millions of jobs, drop real estate values in Albertan oil country by half, indebt governments and see more Boomers become Wal-Mart greeters, he says.
But Turner also lays out an action plan for investors, homeowners, retirees and families which can blunt many of the effects of the economic and financial storm. He details how to get out of devaluing real estate, even in a crashing market. How to trash the biggest threat possible in a depression – debt. How to build a ‘bad day box,’ get cash without getting attention and make your mortgage tax-deductible. Turner also has rules for ‘vultures’ looking for bargain properties, guidelines for buying safes and generators and a survival guide if 2010 turns into a rerun of 1930.
‘Required reading for middle class families who want to stay that way’
“Nobody knows yet how this story is going to end,” Turner says, “but odds are things will get far worse before they improve. Home values and stock prices might not come back for a generation. Some banks could fail. Governments will be crippled with debt. But that doesn’t mean individuals need to be victims. Only those who fail to prepare are certain to pay the price.”
“After the Crash” is every bit as provocative, prescient and prodding as “Greater Fool,” and is required reading for middle class Canadians determined to stay that way. We’re in the midst of the most profound and sweeping financial crisis in 80 years. Garth Turner explains why, in stark and understandable terms, and provides a roadmap to better days.
147 comments ↓
I just pre-ordered my copy on Amazon.ca
I would have waited if I knew about getting a signed copy
Also, the book is coming off the presses now but Amazon.ca won’t ship it until Feb 4th. Does it usually take a month for a book to go from the presses to the distributor?
Welcome to the world of Canadian book publishing. — Garth
MADOFF MAULED OVER ‘HEIR’ MAIL
http://www.nypost.com/seven/01062009/news/regionalnews/madoff_mauled_over_heir_mail_147439.htm
MADOFF MEMORABILIA SELL-OFF
http://www.nypost.com/seven/01042009/news/regionalnews/madoff_memorabilia_sell_off_147073.htm
…Whole lot of anecdotal on the NYPost homepage.
Many don’t realize banks don’t change credit criteria in tough times. What changes is the credit worthiness of the retail & commercial customer. If your business has lost a ton of $$ & your balance sheet is battered ie. equity is eroded why would a bank take the risk? The question to ask is would you put your own money into the deal? Amusing to watch a third rate economist like Flaherty being told by the banks to take a hike. His silly posturing says a lot about his qualification to be Finance Minister.
Safety is the name of the game for 2009
Tony Sagami MONEY MARKETS 01-06-09
http://www.moneyandmarkets.com/safety-is-the-name-of-the-game-for-2009-29168
Good read … but it’s not even close to the end of the beginning.
#3 don m on 01.06.09 at 9:13 am
“Amusing to watch a third rate economist like Flaherty being told by the banks to take a hike. His silly posturing says a lot about his qualification to be Finance Minister.”
If you were to poll this site, you would find many who strongly support your viewpoint. In fact, a clear majority would.
How to build a ‘bad day box,’ get cash without getting attention – Garth
I trust you wrote/approved the ‘media release’ .. so I’m attributing the above to you.
On a previous topic thread I asked you about stashing cold hard cash away ‘under the mattress’ so to speak, but you didn’t respond.
Is this ‘bad day box’ your way of saying everybody should hoard cash at home in case the banks lock their doors and you can’t even get into your safety deposit box where you might have cash, gold coins, diamonds, etc. should the banking system collapse??!!!
(Btw … do you have an internet electronic version of your book .. so you can send copies to selected people, for critique?)
Garth,
I lived through the mini-depression of 1980-82 and it was HARD TIMES. I survived it, but barely and had to make major life adjustments, including moving to an area that had an economy going. Who was at fault for that fiasco? The U.S. Government…SOLELY! They tried to cover the arse of the Federal Reserve, who was covering the arses of the Big Boys, who had, as usual, made bad decisions to loan money to foreign countries without any real collateral.
The U.S. should have sent their troops into Mexico and taken over the Mexican oil fields to pay the debt. They didn’t have the cajones for that because, well, Mexico is a tourist magnet for Americans (God only knows why?). Had it been an Arab nation the decision would have been instant, unless it was Saudi Arabia, their OPEC Bed Partner.
Who paid the tab? Everyone, but those who made off with the money, i.e., TAXPAYERS and the Middle and poor class worldwide.
Thanks again to the WTO, World Bank, and IMF.
Personally I think this time we should be erecting gallows or Madame Guillotine and getting serious about consequences for these bastards. Maybe a little French style Revolution now and then is a good thing, eh?
They are, when all is said and done, nothing more than Organized Criminals, and should be treated as such, Chicago Style!
Meanwhile,. the MSM goes on having nice little interviews with these demi-gods of deception holding them up like heros and gods of fortune.
Regardless, it seems the people are simply instituting their own solution by holding onto their own money and telling the auto makers ‘No Sale’. Same with the Real Estate industry. In short, people have fallen back to a safe position and will hold their own until things stabilize.
If the banks and credit card companies start acting up, they will find people will simply tell them to F–k OFF!
As to the doom and gloom, I think, based on the last go-around I lived through, it should stop. No need to create wish fulfillment. Like the Texass Sheriff exemplifies.
Two guys are driving along in Texass and passing through a small town when they see the Bubble-gum Machine light up behind them.
They pull over, and watch as Deputy Hawg waddles up to the driver’s side.
The driver rolls down the window and the Deputy WHACKS him upside the head with his nightstick.
The driver asks ‘What did you do that for?’
Deputy Hawg replies ‘Boy, ya’ll in Texass. Ya supposed to have your license, registration, and insurance ready for my inspection by the time I get up to your vehicle.’
The deputy writes out a ticket and hands it to the driver saying ‘Here’s ya’ll ticket Boy. I caught you 3 mph over the limit.’
The deputy walks around to the passenger side, taps on the window with his nightstick. The passenger rolls the window down and the deputy WHACKS him upside the head with the nightstick.
The passenger asks’ What was that for?’
The deputy says ‘Boy, that’s your Wish Fulfillment!’
The passenger says ‘Wish fulfillment?’
The deputy says ‘Yeah, your Wish Fulfillment. ‘Bout two miles down the road, your gonna turn to your buddy and say ‘I wish that arsehole would have tried that with me!’
Have a nice day!
Many don’t realize banks don’t change credit criteria in tough times. What changes is the credit worthiness of the retail & commercial customer. If your business has lost a ton of $$ & your balance sheet is battered ie. equity is eroded why would a bank take the risk?
#3 don m on 01.06.09 at 9:13 am
Ah, yes, then it falls to the People, i.e., TAXPAYERS to bail their pathetic manglement arse out…Right?
Maybe we should call this scheme the Corporate Socialist Free Market? Hello? GM! Ford! Chrysler (aka Cerebus Investments)! AIG! Big Banks! Lehman Brothers!
But DAMN! ‘Don’t regulate us because you are interferring in ‘free’ enterprise!’
Yeah, free allright! Free from responsibility. Free from supervision! Free from accountability! No wonder Harper and Bush are so bloody popular with their ilk!
Sure Garth… sure. Will wait until the book gets into the Library or for the movie to come out. Whatever happens first.
Isn’t it absolutely *AMAZING* how you manage to come up with the right topic at the absolutely *WRONG* time?
This is, this book *SHOULD* have been issued at least a year ago!
But then again, this would mean you would actually have seen what was in store…. which is simply impossible because you are not an Austrian.
Gotta love for-profit profets!!!
I did write such a book a year ago, called “Greater Fool” forescasting the real estate and economic decline. This book examines the events of the past 100 days and the implications going forward. Go find another fly to pull the wings off. — Garth
These will be signed – and therefore priceless! — Garth
Will it be worth as much as a signed copy of Lord Coe of Ranmore’s “Running Free” or Katherine Langrish’s “Troll Trilogy” (Nothing to do with some contributors on this blog.)
Sorry Garth, can’t resist; if I sell it at some future date, will it generate a Capital Gain.
Who says Flaherty or his Boss know anything, the facto is neither of them could run a third rate banana republic without causing internal strife as a way of smoke and mirrors covering their own ineptness and stupidity.
And from the G&M Flaherty is demanding the banks loan out more money …. we know they are scrambling to shore up their assets …. and so they should.
Garth it will be interesting to see if all those ill spoken people log on to your site to get a copy of your book ….
It has been said that many have found God just before they were hung to death . Strange how fear even financial fear can open ones eyes to avenues of hope.
Of course many will survive and do well many will even profit but unfortunately many will continue to believe Harper & Co ….. and will continue to trumpet his songs in hopes of a Senator appointment or another of his vast mounts of gravy train positions.
Obama Pitches Stimulus Plan
GOP Asked to Help Design Bill;
$300 Billion in Tax Cuts Sought
“The economy is very sick,” Obama said. “The situation is getting worse. . . . We have to act and act now to break the momentum of this recession.”
As described by his advisers, Obama is proposing a package of tax cuts to benefit families and businesses. Like the overall spending proposal, the tax cuts would be designed to put cash in people’s pockets over the next two years and kick-start the economy.
Working families would be eligible for a tax credit worth up to $1,000. Individuals would be eligible for a $500 credit.
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/05/AR2009010502752.html?wpisrc=newsletter&wpisrc=newsletter&wpisrc=newsletter
Mucho congrats on “After the Crash” and hopefully mucho cash.
Now what?
Have we had the CRASH yet? Are we there yet? Aye, the the rub, bub. The 09 market dudes are partying again and it sure looks like bubble times are here again. We always hear that markets are “forward looking” and anticipatory. Why didn’t they anticipate the latest recession instead of hitting record territory? Doh.
The music is playing raucosly to drown out the gloomy news. New paper chairs are being added in the form of Bonds and Preferred shares and being promptly snapped up by fat arses. The monopoly game continues as chief banksters add more money from under the table and keep the losers re-supplied.
The debt game continues in the Wimpey cartoon world of modern economics. For a hamburger today, I’ll promptly pay you thrice the cost tomorrow. Isn’t that what the bonds and preferreds promise? So far, we’ve only had the first correction. The Crash will come when the deserving are allowed to default from lack of true profits. We are truly witnessing a morality end game.
Markets will shuck and jive until they dive.
When will the music stop – Hu knows.
This is not the first of sad news nor the last …. so for those sceptic’s please note this is World Wide.
(CNN) — German billionaire Adolf Merckle, one of the richest men in the world, committed suicide Monday after his business empire got into trouble in the wake of the international financial crisis, Merckle’s family said Tuesday in a statement.
#79 whassup? on 01.06.09 at 9:01 am
#54 David Halfkenny (in London)
“I received a 10 percenter from Mr Dion today …
and i thought it was only those evil CPCs sending them to other ridings?”
(smile)
Now that the CPC have shown the “creative” way to use/abuse parliamentary privilege, the other parties have little choice but to combat 10 percenters with 10 percenters… I wonder how the in-and-out scam will finally play out, as here is another dangerous precedent from an allegedly “accountable and fiscally responsible Conservative government”
In NO WAY do I endorse such actions, particularly since we all know who will pay for the increased costs, eh?
You, me and the Canadian taxpayers.
Cha ching!!!
More UNaccountability by government?
Misprint may void lotto tickets
DAMN STRAIGHT!
Speaking of Internet Banking, Check this article onSevere Space Weather out.
If this happened today many of our communications systems would FRY!
Look forward to buying it via your site Garth. Read somewhere a few days ago that one could order it online for $20., signed by the author himself. (?)
My rant. Rec’d a notice from CRA the other day that I owe them, but reason didn’t make sense to me. Called them this am. Seems I did not receive 2 T3’s from financial instituations. CRA is sending me copies. When I do receive them I shall certainly get in touch with our FA & let him know. PO’d as I have to pay interest too. Learned this year that we did not receive other docu. from financial institutions dating back to 2002. I know, I should have been on top of it, but when one receives so many statements (various accounts & investments going thru multiple institutions), its difficult to keep on top of it. IIRC their year end statement does not state how much one paid in admin fees, etc. As an average, naive investor trying to file tax returns, without the help of an accountant, its quite intimidating. We just learned this year that my DH has work expenses that he could have been claiming for years. Spent most of the morning talking to CRA. I wonder if the amount of record keeping & paperwork will be worth it. I think the tax system discourages the average person from understanding & applying for deductions that they are rightfully entitled to. No wonder CA’s and Lawyers make so much money. Besides civics, perhaps the schools should teach a course on our ‘tax system’ as it seems that only those who can afford a ‘tax expert’ benefits.
Garth, will you be making your book available to those of us expats who live in the US? There’s also no listing for it on amazon.com.
And now for something completely different!
Visions of Earth from National Geographic
Take a deep breath, relax back, and enjoy the beautiful diversity of us and our planet.
Love to get a signed copy.
John MacDonald
halifax
#3 Don M.
No wonder the banks scoff & snub Flaherty, he has no qualifications, he was formerly just a two bit ambulance chaser.
BTW Garth just checked to see what we paid for a ‘full’ cord of wood. In 2000 we paid $145. and the latest price in the spring of ‘08 was $205. We were told the increase was mainly due to transportation costs. Though gasoline costs have gone down, I’m sure the cost of a cord today would be even more today. Other than Lobster prices (sold by fisherman out of their trucks) at $5./lb.) food prices have not decreased. BTW, while on Xmas vac. in Mtl, Lobster was going around $$18-20./lb. Someone was sure making a bundle. Lobster fisherman here were making about $3.50 a lb. They were selling around $7.00/lb., IIRC, in the supermarkets. How can a Lobster fisherman make a living at those low prices? I recall PEI potatoe farmers giving away their pototaes in front of the NS Legislature years ago. Has anyone noticed how the BIG food producers have changed their frozen veggie bags. They are no longer transparent, are smaller & charge about double the price. Many are mixed veggies, some of which require additional ingredients, etc. All to make one believe they’re buying a superior product – a la California. Has anyone noticed that its more difficult to find name brands at Loblaws. (Superstore, Maxi, etc.) Maybe its just here. We don’t have the choices that the major cities enjoy. I really miss that. I compared what was available at Costco & other stores in Mtl. A world of difference. So many foodstuffs here have been discontinued at Costco. We just don’t have enough ‘immigrants’ to supposedly make it profitable to offer the types of food that my DH & I pefer.
End of rant.
Completely off-topic, but I couldn’t resist.
Bush is awarding the presidential medal of freedom to his buddies Tony Blair, John Howard and Alvaro Uribe.
That looks like a line-up of Stephen Harper’s friends, mentors and partners in crime – ahem, excuse me, trade.
Just think – if Harper had been Prime Minister at the time of the Iraq invasion, we could have been up to our ears in Iraq, broke and reviled by now, and Harper could have had a medal, too.
http://english.aljazeera.net/news/americas/2009/01/200916443520691.html
#6 HARRY S on 01.06.09 at 9:34 am
I’m not sure where your coming from on this, Harry.
But I will say that if the advice is indeed to take your money from the banks and stick it in a box or under the mattress, and everyone follows this advice; then the final demise into a depression will be caused by a self forefilling prophecy.
The last thing we need to do is take money out of the economy. While stimulus packages have limited effect, taking money out of circulation, governments when into austerity mode, was one of the responses to the 1929 stock market crash which led to the depression.
How to get ahead in the conservative party – be short.
Did you notice that at the conference of 20 financial ministers that Flaherty was the shortest of them all. On watching the Canadians juniors win gold, when the metals were being handed out, Lunn was also the shortest (not on skates guys). I guess this is Harpers way of standing out in his party.
I think if I remember correctly, whenever Harper is in a gathering, his handlers make sure no one taller than Harper gets anywhere near him.
#15 David Bakody on 01.06.09 at 12:18 pm
One down, hundreds to go! Obviously his so-called ‘billions’ consisted of paper money, like Monopoly games use.
Fact is, most so-called ‘billionaires’ and ‘millionaires’ are only paper wealthy. They have only themselves to blame, but want us to protect their hobby and status. I say NO! And good ridance!
Looks like you`re on an up hill climb Garth.
The government has msm trotting out every left wing sociopath and every right wing carpetbagger saying deficits are the way to go. Some are even hinting they don`t think the government will go far enough. From $30B to hundreds is what they want.
McGuinty knew from his first year in office what was in store for Ontario when he sent his AG across Canada selling the federal make work for lawyers program instead of backing the report `For the Sake of the Children`. It was an in your face move because he knows msm will convince Cdns huge deficits billed to following generations will actually do some good in a global slowdown.
Pay attention folks, the children will be indentured for life to save their sorry asses.
FYI German billionaire kills self, family says
Merckle’s business empire included interests as diverse as cement-maker HeidelbergCement and generic drug-maker Ratiopharm. But he lost hundreds of millions of dollars, including company capital, betting against Volkswagen stock last year.
The state government of Baden-Wuerttemberg rejected his petition for financial assistance, and he entered bailout talks with several German banks.
“The financial troubles of his companies, induced by the international financial crisis and the uncertainty and powerlessness to act independently which the financial problems brought about, broke the passionate family business man, and he took his own life,” his family wrote in the news release.
Anyone going to shed a tear? Did he for those in need or less fortunate?
re #24 Loblaws and Superstore inventory.
Loblaws/Superstore seem to be very very bad at inventory management. For years the one I go to has periodically been completely out of dental floss (!) and other items, for weeks at a time. This is in Burnaby, BC.
#8 Bill — Don’t worry about the Banks in Canada — they will always look after the shareholders first. I have never seen a canadian Bank succumb to the greed that motivated the US Banks to make the stupid mortgage loans they did & I never expect that I will see such a thing in Canada. The lowest level lender in every Canadian Bank knows better than to make an obvious bad deal & besides, the Banks have computer systems in place to make it impossible to make decisions “outside the box”. I know for a fact that Rick Waugh, Chrmn of Scotiabank began his career on the teller line in Winnipeg & worked his way up through Scotia International Banking. He and his peers in the other Banks are well schooled in Canadian Banking and are not about to pay much attention to the likes of Harper & flaherty.
#25 CM — How cum Bush passed over his buddy Steve??? Didn’t he deliver enough dead Canadian bodies in Afganistan to meet the US/CAD Neo-Con objective?? Rejoice — Bush, Blair & Howard are gone and sooooon Harper?????
Just think – if Harper had been Prime Minister at the time of the Iraq invasion, we could have been up to our ears in Iraq, broke and reviled by now, and Harper could have had a medal, too. BY Cm
We would have been in the same pickle if Iggy was PM at the time. So what is your point?
#24 Go Green on 01.06.09 at 1:48 pm
Other than Lobster prices (sold by fisherman out of their trucks) at $5./lb.) food prices have not decreased.
Being 1/2 Newfie (the other half Mennonite), I perked up when I read that Lobster is selling at $5.00/lb. Where can I get me some of that???
I sent Garth’s post to most of my friends and family, and will be buying his book. I would love a signed copy…where do I go to get one?
I was just wondering about the Vancouver Olympics–my daughter moved out to Vancouver in the hopes of a brighter future, and a job because of the Olympics. She couldn’t find work in Ontario.
I wonder how long it will be when families start living together (children, grandchildren, etc.) just to keep the wolves from the door?
Just spent a holiday visit with my DH’s family where I was chastised for being too negative regarding the economy. I had avoided any pessimism that the auto bailout might not work (everybody in the family works for one of the Big Three) but I had expressed the opinion that I thought we might be approaching a depression. “Keep thinking positive!” I was told. “You’re just scaring yourself reading all that stuff on the internet!”. DH does not wish to discuss/read anything on this blog and others – “too depressing”. I feel quite alone in my desire to make some preparation so I will likely make an order for your book, Garth. I don’t know if DH will buy into any planning but I least I will have more information.
BTW, anybody want to hazard a guess what RE will do in rural SW Ontario? We are selling to downsize but my feeling is that we will be here for some time yet. The only stuff moving is starter homes, under 200K
I just listened to Catherine Swift of CFIB claim local Branch Managers of Cdn Banks are arbitrarily cutting lines of credit of Small Businesses in half. This is utter nonsense. I spent a 30 year career financing Small Business in the Cdn banking system and while I had an authorizing level up to $500,000. at no time could I cancel or reduce a line of credit without reference to a higher adjudicating level. We did not ever want to chance that an arbitrary decision would cost us valuable business with our Small Business customers which , incidentally, is the most profitable book in the bank!!!
25 CM on 01.06.09 at 2:39 pm
A year or so ago I read “Dubya” issued a Medal for Winning the Cold War ….. I never followed it up …. but sounds good as they did win WW II ya know ….. our million in uniform and loss of 60,000 had nothing to do with it even though we went in 1939 when the Yanks were deciding which side to back …. now there is Gaza and …. well, you all know. Me I think this is another Baghdad for Israel or even worst.
In reply to #25 CM:
“medal of freedom”
Freedom?????
how about medal of oppression?
“medal of freedom”
LOL!
What will needless deepen Canada’s depression is our own version of sub-prime devastation — brought by Mr. Harper. And compounding that is his attempted cover-up — with toxic cash — both moves by Harper will devastate us much further
http://www.greaterfool.ca/2008/12/06/toxic-cash/Harper knowingly brought high-risk mortgages to Canada in 2006
The Canadian version of sub-prime, zero-down, 40-year mortgages began with measures contained in the first Conservative budget. The proliferation of high-risk mortgages could have been mitigated if Ottawa had been more watchful. There was a lack of regulation around the expansion of increased risk unavailable in Canada 2 years ago. High-risk mortgages proliferated in 2007 and early 2008. They will be shouldered by thousands of consumers at a time when the economy is sinking quickly and real-estate prices are going down. The Bank of Canada warned that the perilous economy could lead to a doubling of so-called “vulnerable households” — those unable to meet their debts — and perhaps cost thousands of Canadians their homes.
All that and more, due to Harper, who also purposely looted Canada’s $13 billion surplus like a psycho drunken sailor, leaving Canadians to clean up his messy latrines.
://www.theglobeandmail.com/servlet/story/LAC.20081213.MORTGAGE13/TPStory/National“We would have been in the same pickle if Iggy was PM at the time. So what is your point?”
By Van….
Don’t know his point, but mine is that they are both sad individuals and if this is the best this country can do for leadership, we may as well blow it all up! Parties have destroyed democracy and neither of the above leaders give a damn about Canadians, only power! Time for a real change in the system…it is broken!!!!
SPECIAL INVESTIGATION
How high-risk mortgages crept north
http://www.theglobeandmail.com/servlet/story/LAC.20081213.MORTGAGE13/TPStory/National
#36 Cendrine, my bro-inlaw is a RE agent there. He has not had a sale in months.
I just listened to Don Newman pummel Flaherty on his obvious waffle on the economy and what to do about it since Steve (the great economist) hasn’t told him yet. I bet Steve is regreting appointing Duffy ( the CPC sypathizer) to the Senate since CTV hasn’t yet found a suitable replacement to counter Newman. My vote goes to Craig Oliver who is well above Duffy in insight and intellect but won’t buy the CPC BS. Harper (the strategist) should have consulted the Aspers first. Lets understand who really runs this country. Its big, old money folks.
#24 Go Green on 01.06.09 at 1:48 pm
Just to confirm your comments: Since Metro bought out A & P Stores, they have been discontinuing various brand lines, too. Equity Brand is an A & P house label which was also purchased is now being phased out in favor of Metro’s brand “Compliments”. In the case of a 1.3 Kg box of raisin bran flakes it is still $1.30 cheaper than the same item under the Kellogg label. Judging by the flavour, texture, and amount of raisins it is entirely possible that both came off the same production line. It would appear that the extra buck thirty is for the brand name and advertising! Another item is cheese. Metro is owned by Joey Sapputto, I believe and he owns cheese factories. The same block of cheese under a competitor’ s label in A&P is a dime more. OK I know that there are cheaper stores to shop at but by the time you drive to all the other outlets you have spent all your saving in gasoline. I go where the food brand and quality are what I want and can get. Not all of the A&P Stores carry all of the brands either. We hear that some of these stores will be phased out and replaced with non union help at half the wages and less staff.
I’ll take a copy Garth, your advice has been been very good for the last two years and I think reading your book for more back ground info.
In other news, I just had a talk with BoM Mosaic about my Credit Card, Back in October I screwed up and didn’t clear off my card (miss typed the number and left a balance of $12.00) My mistake, so I got nailed with interest carrying charges. I cleared off the card in November,… Now I know the trick the Credit Card Companies play, you still get nailed with one more months of interest (it a carry forward interest that occurs from when they issue the statement till you clear the card) No bitching, I made the mistake. Got Decembers Statement and I got nailed with interest AGAIN. So I called and ask them to explain,… well now if you miss clearing your card, they will now charge interest for the next two months before they will give interest free status again,…
I was polite to guy on the phone and said “Son I don’t care, I am not paying that interest charge, PERIOD!” He didn’t fight with me, he reversed it.
People if you stand up to companies they will bend to your will, if they don’t use this line “What about ‘Unsecured Line of Credit’ do you not understand?” This is a very polite way of saying, “I can walk away from this debt and it will take you a very long time to get any sort of settlement out of me, and that settlement will be pennies on the dollar”
I am not suggesting people walk away from their debt, hey you sent the cash, you should repay it, but there is no reason why you have to let the strap you over a barrel and,… errr well you know,… Stand up and tell these people they have to fair or you will exercise other option (legal options, and they are options that “THEY” don’t like)
PS, Happy New Year Gang. Sorry been away on vacation in Mexico, two weeks over Christmas and New Years.
Zorph
#35: “how long it will be when families start living together”?
Lana, soon. My other brother-in-law, 56, was laid off yesterday. He’ll shortly move in with his parents.
Garth,
Congrats on your new book!
Sometimes I feel like a deer caught in the headlights but we have been prudent. Never spending money we don’t have but the bottom seems like a black hole.
I know people who spent way over their means for Christmas for their kids. I know they will regret the denial but I cannot help feeling sorry for them.
So many people are sleepwalking through reality – it should never shock me (after the last election) but the average Canadian seems to lack any understanding of what is happening.
What does surprise me is that Royal LePage can talk about “an adjustment” to housing prices and the MSN does not challenge their forecast.
#31 Sgt. Turmeric on 01.06.09 at 3:35 pm
The Star ran an article within the past few months on Loblaws inventory system, and how much it SUCKS Big Time!
Here is one article I found dealing with the issue.
Loblaws tries to find supply chain flow
I refuse to buy any dairy products at their stores because they go bad too fast due to delayed warehousing management. I buy our milk at WalMart and it is good for about 3-4 weeks instead on 1 week at Loblaws.
The original article mentioned that they handle the same product 5 times before it gets to the consumer. Ridiculous,. They should study WalMart’s inventory system.
What does surprise me is that Royal LePage can talk about “an adjustment” to housing prices and the MSN does not challenge their forecast.
#48 Bonnie N BC on 01.06.09 at 5:25 pm
WHAT? And offend one of their prime income sources? Not going to happen. The MSM sucks up to their key advertisers like a leach on blood.
PS, Happy New Year Gang. Sorry been away on vacation in Mexico, two weeks over Christmas and New Years.
Zorph
Welcome back Zorpheus, to the COLD, Cruel World of Canadian WINTER! LOL
#45 Truth B Told on 01.06.09 at 5:19 pm
Schweppes Ginger Ale at WalMart $0.97 per 2 litre bottle. It is $1.99 at Zehr’s (Loblaws) The price fluctuates weekly however, so buy on sale!
Even the guy who stocks the Canada Dry told me he can’t take the PC Ginger Ale and that, like me, it upsets his styomach. He, too, only buys Schweppes! LOL
My place holder for the signed copy
Hi Garth,
How do you expect the fund get tranfered?
Got to get a 0/40 somewhere
Congrats Garth!
Satan is a curious character, one side of The Odd Couple with God the other.
Folk say things like “goddammit”, “for the love of god” but how many say “devildammit”?
When Mick Jagger sang, “jes’ call me Lucifer, ‘coz I’m in need of some respect” (Sympathy For The Devil), he (Jagger) didn’t know how close to the truth he was.
Many will know Rowan Atkinson (Black Adder, Mr. Bean, etc.). Here he portrays The Negative Force, a.k.a. Satan, with new and assorted individuals being introduced to their new lodgings in hell.
http://www.youtube.com/watch?v=XFGrQMD6Uqc
——
#41 wjp, 5:05 pm — “Parties have destroyed democracy and neither of the above leaders give a damn about Canadians, only power! Time for a real change in the system…it is broken!!!!”
Not only here, wjp but thruout the world. Guess that’s why everything must come to a crashing halt, sort ourselves out and start again.
Starting again will be diffcult — not impossible — for many.
——
Speaking of Lucifer, what a way to bow out. — http://tinyurl.com/9m22gt
——
Food shortages are one sure way to raise the ire of people. — http://tinyurl.com/8tnfv6
#24 “End of rant” — Go Green, sometimes you can ask the store manager to bring in an item you want.. 15 yrs ago I asked Safeway to bring in balsamic vinegar, they immediately obliged. At the time we could only buy it at the Italian supermarkets.
º¤ø,¸¸,ø¤ºº¤ø,¸¸,ø¤ºº¤ø,¸¸,ø¤ºº¤ø,¸, ø¤º
Conversely, I once tried to get a product back on the shelves. Co-op, Safeway, etc. all looked into it. Same reply, it was the distributers fault — didn’t want to bring it back into Canada.
Another fault in the system is the “shelf space” that suppliers BUY. Need more space? The store gets rid of one of the competitor’s products. A good perfume-free shampoo — got the boot when one of the big producers bought more shelf space. Big corporations have an extremely unfair advantage over the little guy.
#31 Tumerick
re #24 Loblaws and Superstore inventory.
Loblaws/Superstore seem to be very very bad at inventory management. For years the one I go to has periodically been completely out of dental floss (!) and other items, for weeks at a time. This is in Burnaby, BC.
Tumerick – Saffron is better than Tumerick. Mine is also regularly out of Sensodyne. BTW, I make a fabulous paella.
#46 Zorpheous on 01.06.09 at 5:20 pm
The same happened to me, but the balance owing due to a typo $0.01.
They charged me interest. However, I do all bill paying on-line so I saw the interest charge as soon as it hit.
I called and they reversed it too. One thing they do check before they reverse the interest is your payment history. I would think leaving $0.01 or $12.00 once when you always pay the thing off tells them you made an honest mistake.
BTW. My credit card hasn’t gone to the two months clear before interest stops. I suggest you shop around!
#52 Bill-Muskoka (Not Anymore) on 01.06.09 at 5:53 pm
Schweppes Ginger Ale at WalMart $0.97 per 2 litre bottle. It is $1.99 at Zehr’s (Loblaws) The price fluctuates weekly however, so buy on sale!
Even the guy who stocks the Canada Dry told me he can’t take the PC Ginger Ale and that, like me, it upsets his styomach. He, too, only buys Schweppes! LOL
————-
Maybe Bill that was my problem. I drank PC ginger ale regularly and I & my DH attributed my ‘toots’ to my age & constitution. But, when I’m overseas & don’t drink it I don’t have those ‘embarrasing’ moments. So now I shall seek out Schweppes. Can I sue Schweppes if I cause a roomfull of people to flee for their lives?
Seirously tho, as much as I love gingerale, I’ve learned over the years how it effects me. – toot, toot
Garth NAILED them months ago …
Ten Business Predictions for 2009 January 6, 2009
http://www.newsfactor.com/story.xhtml?story_id=012000DWKJ8C&page=1&full_skip=1
Despite the HP advertising, keep looking for, “go to News Factor Network.
#54 Charles Oxley
#41 wjp, 5:05 pm — Time for a real change in the system…it is broken!!!!”
——–
Not only here, wjp but thruout the world. Guess that’s why everything must come to a crashing halt, sort ourselves out and start again.
=======
You`re certainly going to get your wish here in Canada. What the 40/0 did, deficit spending to save government will increase that 5 fold.
The only thing in Canada that needs crashing down is our elected federal government but unfortunately there are far too many Cdns like yourself that have resigned themselves to the worst.
lol, perhaps it`s just the side of the fence your on. I`ve been standing up for Cdn children for a decade and got the word today from the ombudsman the death sentence for my efforts will not be commuted to time served, for a crime I can prove I didn`t commit.
From that side of the fence you`re the wise one, just let it happen would have been my easy way out.
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
#58 Go Green on 01.06.09 at 8:22 pm
Try the Club Soda in any of these brands and you should not have a problem. The Ginger Ales have too much sugar especially if you are diabetic. They should charge less for the Club Sodas since it is cheaper to make = no food coloring and no sugar, but try to get that one accepted!
Don M,
if Canadian bankers are such models of prudence and probity, why is there a problem with ABCP, mortgages and credit? Thirty-five billion as a bail-out, or whatever name it is called, is not chicken-feed.
Don’t take this as a personal attack. It’s good to have a banker on board to give us some genuine information.
#61 Buford Wilson
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works.
============
Fascinating.
A $20/week tax cut for Cdns is going to reduce the time it takes for global demand for our goods to 6 months, from 10 years.
Too late Bu, msm have already tried to peddle that bull story with deficit spending.
Here`s what I suggest you do with your tax saving, buy seeds and plant a spring garden.
You will be better served than putting your trust in a system that`s been broken for decades and now using desperation spending to stay alive.
#61Buford Wilson on 01.06.09 at 9:41 pm
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
Will he now? Seems there is at least ONE honest politician who will tell the truth, and it is not Dim Jim.
U.S. faces years of trillion-dollar deficits, Obama says
What was that about your hat? I think the hat will be a minor problem! The Piper is getting ready to collect his pay for decades of gross mismanglement.
#58 Go Green on 01.06.09 at 8:22 pm
Just remember, It’s like gas, it will pass! LOL Tiny bubbles!
Hey Garth, Congrats on the new book! Looking forward to the survival guide and your predictions for the future… (quite the clairvoyant you are). It seems as though the era of getting something for nothing is now coming to a close which is actually a good day for humanity.
Cheers!
#60 got rope?, 9:41 pm — Hello Robert.
“. . . I’ve been standing up for Cdn children for a decade and got the word today from the ombudsman the death sentence for my efforts will not be commuted to time served, for a crime I can prove I didn’t commit.”
Curious — there was nothing (as usual) on the msm re: this affair. What does the ombsmn. have to do with this? Where was the ’supposed’ crime committed?
Cover-ups are convenient for those in high places, better if they are the guilty parties.
——
THOUGHT FOR THE DAY! (Courtesy wrh.com)
“We are entering a new phase in human history — one in which fewer and fewer workers will be needed to produce the goods and services for the global population.” — Jeremy Rifkin, economist
Where will all those who will lose their livelihoods end up? Possibly learning self-responsibility, albeit the hard way.
——
Two links which have one thing in common — the almost certain collapse of the greenback and US equities. — http://tinyurl.com/9s6qbw http://tinyurl.com/7flgh4
——
First para. is interesting — some foreign banks are running out of lolly. — http://tinyurl.com/94xo38
“. . . Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China’s Ministry of Commerce (MOC) warned Monday.”
——
One of the main reasons for the massacre in Gaza. It has nothing at all to do with Hamas — which was properly elected — firing ‘rockets’ into Israel.
Commentary by wrh.com is very interesting, too. — http://tinyurl.com/7oefh3
“. . . What Israel wants is the military victory, enabling them to re-occupy all of Gaza. Of course, what happens to Gazan Palestinians once this is accomplished (those left standing, that is), is anyone’s guess.
“… which is exactly what I predicted would happen way back in 2005 when Ariel Sharon made a deal with Bush to pull Israel out of Gaza in exchange for the US turning a blind eye to the building of illegal settlements in the West Bank. I predicted (call it “warned”) that as soon as the settlements were completed that Israel would manufacture a reason to go back into Gaza; to have their cake and eat it too!”
About time someone denounced this deliberately engineered garbage. — http://tinyurl.com/83beue
The planet, along with most of the people in it, is getting to be toasty warm / hot in The Cycle Of Nines.
http://www.policyalternatives.ca/news/2009/01/pressrelease2066/?pa=BB736455
There seems to be a few factors not considered in the report by CCPA on budget alternatives.
The highest number of parent denied children rocketing mischief up 39% in an expanding economy. This generation will be dealing with an already accelerating crime rate in a falling economy, the traditional time of crime expansion.
It also ignores the state of consumer spending power both nationally and internationally.
Then there`s that little but certainly not inconsequential loss of international investor confidence.
Perhaps a little reality would be in order.
Thanks to consecutive governments policy Cdn society will degenerate at an ever increasing rate over the next 5 years or in plan language, you ain`t seen nothing yet.
Global demand putting our economy on the upswing is 10 years away, not withstanding major global conflict. It will take that long thanks to government policy that caused the loss of confidence by international investors.
This is not an economic plan to save the Cdn economy, it`s a plan to create even more government jobs with deficit spending when we should be cutting the commodity windfall revenue jobs governments have created over the last 5 years.
I really don`t think anyone but Garth and a few of us is taking this situation seriously.
re #24, frozen vegetables/fruit and seafood.
What most people don’t realize is that a lot of this stuff now comes from China.
61 Buford Wilson on 01.06.09 at 9:41 pm
I believe Spring 2009 should read Spring 2015 ….. then add this ….
By Duncan Gardham, Security Correspondent
Last Updated: 7:03AM GMT 07 Jan 2009
Jonathan Evans said the international recession could be a “watershed moment” which will shift the balance of power away from the West.
Despite MI5 achieving notable success against al-Qaeda in Britain, Mr Evans warned that with the decline in economic power of the UK, US and Europe, new threats to national security are likely to emerge.
You see Sir…. there is a whole world outside of Harper’s world …. and Flaherty is but a lap dog who like his boss could be gonzo at any time ….having been saved by the GG not once by twice …. so there is hope I agree but not from tax cuts that will do nothing to bring back a couple of million lost jobs ….. not to mention several millions south of the border …. and countless millions around the world …. but heck we have 18 new Senators.
I questioned my banker yesterday and here in part was her response that came within hour……
Pay off debts, save money for emergencies and plan for the future. Advice that is applicable no matter what the current economic situation.
Not! one work in reference to Ottawa or Flaherty being the great fixer ……. hello? not one word! …. so best read Garth’s book and add his information to your own personal plan …. me I plan to do just that.
#47 Barb the proofreader on 01.06.09 at 5:21 pm
#35: “how long it will be when families start living together”?
Lana, soon. My other brother-in-law, 56, was laid off yesterday. He’ll shortly move in with his parents.
———
Barb, that happened to friends of mine recently, who had to sell their home and move in with 75 year-old parents because of a job loss.
My husband lost his job last April and has not been able to find another one–he is 62 and not in the best of health. Most of the jobs around here are heavy labour, stand on your feet all day types, and there is no way he has the physical stamina for that type of work.
I have a full-time job, so moving in with our children is not an option…yet. Since my organization is funded by the provincial government, I can see my future job prospects and it ain’t pretty. There’s no way we will be able to afford our home if I lose my job.
One solution may be to change local bylaws and allow (and provide financial incentives for) people to “duplex” their homes, and rent half of it out to another couple. Another partial solution is for the federal government to increase the amount of E.I., and to extend the time one can collect…especially for people in their sixties, for whom Rapid Re-employment and Second Career programs are a joke.
There are creative solutions out there, and I’m sure many of them are in Garth’s new book, which I can’t afford NOT to buy.
Houses aren’t selling around here either, so even if we wanted to sell and move into smaller “digs”, we probably don’t have that option.
Anyone looking to rent a room in Waterloo? We have a spare bedroom–the grandchildren will just have to sleep on the floor when they visit, I guess.
Helpless in Waterloo
Afterthought: … What were the conditions for the Flairity-Carney (a) Bank Liquidity Improvement … $75 B, (b) ABCP Guarantee … $32 B, and (c) Auto Restructuring Loan Guarantee … $4 B? Why is Flairity indicating ‘little or none’ of the financial buttress will ever be utilized, OR providing some CONCRETE disclosure of the extent of Taxpayer Exposure?
#61 Buford Wilson on 01.06.09 at 9:41 pm
No thanks to Flaherty!
The markets respond in advance of what we see an feel as far as the economy is concerned.
When the markets really started to tank, the ROW took action. Not Flaherty, and he still hasn’t. He had the opportunity, but he and his masters decided to stick it to the opposition.
The markets have risen off their lows and if the recovery continues, no doubt Flaherty and Harper will claim that riding out the storm was the right thing to do;
another flip flop!
#61 Buford Wilson on 01.06.09 at 9:41 pm
“Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!”
I seriously doubt Canadian Taxpayers are going to fall for that SCAM, Buford. No matter how you peddle it, it’s buying short-term loyalty, while reducing the revenue stream and adding to the overall debt load. Flairity might think … if he thinks at all, it is the way to go … he will get a sharp reminder he’s tried to “buy us” with our own money before … through a GST cut, which only added to the gross margins of retail. He squandered $14 B on that little misadventure.
The opposition parties had better do their job in terms of forcing Flairity to provide comprehensive details.
#72 Lana on 01.07.09 at 7:07 am
“Helpless in Waterloo”
Believe me, Lana, we HEAR you and we are LISTENING.
The current government, to this point, has wasted a lot of time … They dropped the ball and missed an opportunity when they issued their E=FU in November, which was merely a vindictive political document.
I’ve seen other criticisms of Flairity’s power-point presentations as being ineffectual and virtually incoherent. I really think these boys and girls are not up to the job.
#61Buford Wilson on 01.06.09 at 9:41 pm
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
>> That would be a nice dream BUT the markets are driven by the economy over the long term.Anyone who sees anything positive about the economy especially with “dim jim” at the controls im sure also believes in santa claus
. Several billions of our tax dollars have bought a few days of grace for the faltering corporations but the end result i think is years of disaster. Kind of reminds me of the “maddox fraud”–”rob peter (the taxpayer) to pay paul” and eventually “peter” will really be in trouble .Thanks to the Harper government’s huge spending and lack of foresight the moneys gone -now we are going deeper and deeper in debt—Well that money has to be repaid!— and since the governments only source of income is taxes……………….. rosey picture?-i think not!
#63 Herb — Mainly the Banking problems are in the US although it appears there was some irresponsibility in Canada ie low down payments & 40 year amortizations. The $35 Bill. was not a bailout but $$ traded for non cash assets to be used to free up the credit system for credit worthy customers.
#68 Charles Oxley
Morning Charles
I`ve been writing about the crimes committed by those in high places ever since I came here but never mind Charles, it`s just the way the country we live in conducts business.
Interesting you call Gaza a massacre because Hamas was duly elected. Have you forgotten Hamas is a war machine, voting for Hamas is a vote for war. Rather than a massacre isn`t this the war the people voted for?
Jon Stewart nailed the Gaza Strip issues Monday night as his show returned after the holidays. Stewart is Jewish, and he cannot stomach Israel’s actions. The segment was called, and will be I suspect, ‘Strip Maul!’ Brilliant way to accurately describe Israel’s actions.
It is just like G.H.W. Bush’s with Operation Desert Storm as the U.S. approached another election. Talk about Bloody Votes? Well, they are Masters of it, and the people may be dumb enough to swallow it.
Driving down 401 hwy yesterday between Toronto and Windsor yesterday it was a very eerie feeling.What just a few short months ago was a highway full of trucks rushing to deliver products to consumers is now only a fraction of what it was. The signs are everywhere –methinks-”After The Crash” will be the smart man’s bible in the coming months maybe years?
#78 don m on 01.07.09 at 9:08 am
I agree. it is Hot Air attempting to re-inflate the Balloon!
Reports show there is still little, if any, traceable accounting happening.
Glad to have your input here Don.
#72 Lana on 01.07.09 at 7:07 am
We will need to adopt the Asian housing principles. Local governments who have played to the whiney elite will have to rescind their restrictive laws so people have a place to live, or face the people’s wrath.
I wish you well in your economic challenges. Been there, done that, and never want to again.
#81 john on 01.07.09 at 9:17 am
That is a solid indicator. One Dim Jim will not see because he has his head up his arse like a True Believer in inflationary economics.
We still KNOW what he did here in Ontario.
Just 13 more days until Obama takes office, and then we are going to see what REAL LEADERSHIP is like. It has been so long people forgot how to tell the difference between morons at the helm and a real Leader.
Off Topic but…
Really assuring to see the high quality people that Harpo appointed to the Senate….
“Sexual exploitation, drinking at the office supported by Brazeau, former employee claims”
http://www.theglobeandmail.com/servlet/story/RTGAM.20090107.wbrazeau07/BNStory/politics/home
And, to top it all off…
“Mr. Brazeau is seeking to remain national chief of the congress, a group that advocates for off-reserve natives, even though he was appointed last month to sit as a Conservative Senator.”
“If Mr. Brazeau is successful in his bid to stay on as national chief while sitting in the Senate, he will be drawing two six-figure salaries, both at taxpayers’ expense.
The congress’s financial statements show Mr. Brazeau’s salary was $100,170 in the last fiscal year, plus $5,422 for expenses. His new job pays $130,400, with the possibility of further compensation for duties such as chairing a committee or caucus.”
“A spokesman for the Canadian Taxpayers Federation said holding both jobs appears to be an obvious conflict and would also amount to double dipping in the public purse.”
No wonder Brazeau looked so happy at the ceremony…
What the hell was Harper thinking? Was he “thinking” at all? Another attempt to buy the aboriginal vote?
New Year needs a new government.
#72 Lana on 01.07.09 at 7:07 am
Like others have said, I hear you. Loud and clear.
I lost my well paying manufacturing high-tech job 5 years ago, when i entered my 50’s. B.Comm, great resume, excellent references, healthy, motivated, hard worker, yet I CANNOT find a decent job. So, I have been trying to find “work”, and have survived the past 5 years on piecework contracts, a poverty budget, and savings. Seems I am over qualified for what I find, and typically a “threat” for those who interview me as my qualifications are strong. So, the only work that remains are $15 per hour in retail clerk, or similar.
Good thing the house is almost paid for, and we will survive.
I have been seriously considering renting out a room, and combining households with my sister as she is also struggling financially.
Funny thing has struck me about all this… We are “back to the future”, and are re-living the lives of our grandparents. This is not the modern lifestyle anymore, as many return to their parent’s homes for survival. This has happened too many time to count with my sister’s sons. It is almost return to traditional agricultural lifestyle, with everyone working under one roof to support a single property.
Capitalism, Globalism, have resulted in a return to class structure: have nots and financial elite. The last time, this only changed with violent revolution. We may consider ourselves “enlightened and educated” now, but if you have to feed a family, support yourself, necessity will trump convention.
People are watching the $$$$$, but keep an eye out for increased crime. it is already happening, and since this gooberment would rather address the “criminals” after the fact with “tough law” than put in place preventive measures, this could be rather nasty.
On a positive note, with a great university in town, your chances for filling that room should be pretty good!
#68 Charles Oxley
Where was the ’supposed’ crime committed?
——
I should be clear on the rule of law.
McGuinty helped start a new retirement package for lawyers called Freedom 45, in Canada it`s not a crime even though its killed more Cdns in the last 8 years than have died in Palestine in the last 8 weeks.
I guess people dying as a result of government actions is only a crime for someone elses government.
Might the MSM be waking up?
“Promised listeriosis probe still lacks investigator”
http://www.theglobeandmail.com/servlet/story/RTGAM.20090104.wlisteriosisprobe0104/BNStory/politics/home
“Harper promised “an arm’s-length investigation to make sure we get to the bottom, on the government side, on the bureaucratic side, of exactly what transpired and to make sure as we go forward and we make changes to our system that this kind of thing can’t happen again.”
An independent report was to be finished by March 15.
With less than three months to go, a senior government source confirms there’s still no lead investigator.
The delay raises fresh concerns among food-safety watchers, who doubt Conservative commitment to overhaul what they say is a chronically short-staffed inspection system.
(snip)
Agriculture Minister Gerry Ritz’s office deferred questions about the delay to the Prime Minister’s Office.”
And. like someone said, with MORE food coming from China, who have a questionable record, you have to wonder…. “what am I eating”….
I have come to the conclusion that Democracy is the ideal situation for an educated and informed people. Otherwise it becomes a doorway for the Despots to take power by lies, and FUD.
77 john on 01.07.09 at 8:38 am #61Buford Wilson on 01.06.09 at 9:41 pm
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
>> Kind of reminds me of the “maddox fraud”–”rob peter (the taxpayer) to pay paul” and eventually “peter” will really be in trouble .—–OOPS CORRECTION I MEANT THE “MADOFF FRAUD”–sorry
Ideas for Flaherty:
1. Force the Credit Card companies to print the conumer’s credit rating on each monthly statement. Consumers shouldn’t have to pay extra for this crucial rating. It would produce more prudent consumers, reduce defaults, immediately expose fraud attempts.
It’s a win/win for all concerned, except for those organizations that currently charge for this service.
2. To help seniors survive and immediately boost the economy, reduce the tax by 50% on RRSP withdrawals.
The following link will take you to an article about 2009 economic outlook.
http://finance.sympatico.msn.ca/investing/news/businessnews/article.aspx?cp-documentid=16623628
The gist of the piece is that the economic downturn will pick up steam in Canada for at least the first half of 2009 and that the recovery (unlike past recessions) will be slow.
#91 PeckedToDeath By LameDucks on 01.07.09 at 11:08 am
Good ideas, but let’s add reducing credit card interest to Bank Line of Credit interest rates plus prime, which would be at least half of the current exhobitant rates allowed.
The credit card companies collect from the merchants as well on each transaction. The banks have loved Visa and MasterCard because the banks no longer have to actually function as banks. They, like other companies, just grab the profits while paying a licensing fee.
Credit cards are one of the primary reasons for the current economic problems.
#61 Buford Wilson on 01.06.09 at 9:41 pm
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
What is the price of BULL today? Last time I heard it has fallen seriously since the cost of feed has risen due to the drought last Summer in the West.
Or did you mean BS? That has always been freely given away and you now want to be paid for it! I would tell you something to your face but I know I would be misconstrued.
#89 Bill-Muskoka (Not Anymore) on 01.07.09 at 10:30 am
I have come to the conclusion that Democracy is the ideal situation for an educated and informed people. Otherwise it becomes a doorway for the Despots to take power by lies, and FUD.
………………………………………………
Wise, wise words, Billy, and deserving of repetition.
If the Coalition Junta attempts to seize power without an election and succeed through the Liberal-appointed GG, Democracy will have been denied to Canadians.
Should this despicable, despotic act come about, I can see Canadians rising up in violent revolt to recover their Democratic right to vote in their government.
No scuzzy, slimebucket, sleazeball political manipulation like that for Canada..!!!
#57 James – Chatham on 01.06.09 at 8:00 pm
BTW. My credit card hasn’t gone to the two months clear before interest stops. I suggest you shop around!
I would add to that, you negotiate your interest rate.
I have had mine reduced to a near “normal rate” as my credit history can not be faulted.
Anyone with this kind of “History” can demand and get better rates. If they say no, just get an other card. And negotiate the rate before you sign on.
Garth, I will be at the Nanaimo talk you are doing. Will you sign my “Amazon” copy of the book?
You can’t fault me for buying it BEFORE you made your offer to sell signed copies from your web site.
A drive along the QEW through Burlington, Oakville and Mississauga reminds me of 1990…all kinds of empty commercial buildings with real estate signs on them. This points to a very difficult job market.
For folks who are find themselves being downsized from corporate positions there are a number of things to consider:
1) Be prudent with your severance package and don’t rush to pay off bills since it will be difficult to estimate how long it may take to secure another job. As a rule of thumb, at least DOUBLE the amount of time you initially think it may take you to find another job.
2) Review all of your household expenses with a serious eye to cut unnecessary expenses. If you’ve been laid off this is not a time for upgraded cable TV for your home, expensive cell phone plans, cases of beer to numb your senses, or eating out (even a coffee at Tim’s).
3) Investigate the possibility to top up your RRSP with a one time allowance that is available to downsized/layed off people (a good financial planner can give you the advice you need). This will help shield some of your severance from the tax man and help to generate future tax rebates.
4) Try and do an impartial skills and marketability assessment on yourself. This will help you identify potential ‘transferrable’ skills that an employer may be willing to pay you for, or skills around which you may be able to develop your own small business. See if your employer will provide your outplacement counselling or coaching as part of your severance.
5) Be open to any kind of employment compensation arrangement i.e. contract positions, part-time etc.
6) Weigh the ‘all-in’ costs of different employment opportunities, working closer to home for less money and reduced transportation time/cost may be a better solution, especially if you are going to consider multiple part-time jobs.
7) Your home can be a potential source of income if you have rooms to rent, or a basement suite. Be sure to check local bylaws.
9) Keep your ego in check. It doesn’t matter what you’ve done in the past – the only thing that is important is what you can secure for yourself and your family today.
10) If you are not doing so already, keep a budget binder and log EVERY single expense. This is a great way to identify unproductive spending habits and reduce your cash outflows by being more aware of your current spending habits.
11) Review your insurance policies to determine if you still need the coverage. Generally as you age, the need for life insurance decreases. When our children were small my wife and I carried $1.2 million on my life, and $600,000 on her’s. We are now down to $400,000 on me, and $250,000 on her.
12) If you pay your insurance on a monthly basis investigate what the carrying cost is for monthly payments. We discovered that our life insurance company had increased the fee to pay monthly to almost 9% of the annual policy cost (most insurance companies charge 2-3% for monthly payments). We chose to pay annually and saved over $300.
13) Network, network and network. The vast majority of jobs that are filled never make it into newspapers or on the web.
http://www.tomstirr.com
#88 maybe Rhino? on 01.07.09 at 10:28 am Might the MSM be waking up?
“Promised listeriosis probe still lacks investigator”
http://www.theglobeandmail.com/servlet/story/RTGAM.20090104.wlisteriosisprobe0104/BNStory/politics/home
“Harper promised “an arm’s-length investigation to make sure we get to the bottom, on the government side, on the bureaucratic side, of exactly what transpired and to make sure as we go forward and we make changes to our system that this kind of thing can’t happen again.”
——–It is quite obvious that the Harper government has only one goal and that is power as far as running the country ,looking after the taxpayers,spending our taxdollars wisely are all secondary!—They were too busy lining up their 18 senators and 25 partisan appointments (all of which we could have done without)—-really though what can we expect after all our future is obvious with their past performances—whenever necessary services are cut>> its the economy! No mention of the economy tho when it comes to partisan spending and vote buying schemes! Well guess who will be paying for all this in hardship,health,sadness and loss of money—-it will be all of us for the mistakes of a few who support this fraudulent leadership!
Putting money into the economy— Why not simply raise the old age pensions,make life better for the people who built this country.Most seniors live from cheque to cheque all of that money goes directly back into the economy.Tax cuts (which are really another fraudulent manouver for the gullible) are not possible for any long term considering that we are in the hands of the largest spending government in Canadian history. We are going to amass a huge debt and we are also going to have to pay for it! How does anyone being realistic in their wildest dreams think the government is going to pay for all this?? —-there is only one solution—more taxes!! in the long term.
#72 Lana on 01.07.09 at 7:07 am
I heard on late night radio that the good ode baby boomers just might try and survive in communes much like they did in the 60’s …. sharing many the costs for food, shelter and clothing …. who knows but let’s hope it is only an option rather than necessity. I always told my children their home was always theirs …. if it must be so it will be ….
#81 john on 01.07.09 at 9:17
Hey bye …. I drove to PEI & then St John NB for a late fall visit to a couple of dear ode friends and noticed there were very few trucks even then …. now with the 401 being much the same …… not good news …. can you imagine the US …. not good at all …. and Harper/Flaherty do not even know the US is 80% of our market ….. hello? forget the lights there is really nobody home …. other than those new 18 Senators Alberta voted for!
Hey Muskoka Bill ….. another one?
CHICAGO, Illinois (CNN) — One of Chicago’s most well-known real estate moguls appears to have shot himself to death, police said.
GAZA …… as mentioned many times “Violence begats Violence” of course any country reserves the right to defend itself …… but this aggression is one side in the killing fields and there must be a better way …. the world will be asked to pay for aid and clean up …. but you can bet not one arms dealer or defence contractor will be chipping in but rather selling replenishment stock … nothing changes …. nothing changes
What did I just say about aid ……
News Alert (From CBC)
Canada providing $4M for Gaza aid
Canada is giving $4 million to the United Nations and the Red Cross, to be used for humanitarian aid in Gaza, Foreign Minister Lawrence Cannon said Wednesday. The Palestinian territory has been under bombardment by the Israeli military, responding to repeated rocket attacks on Israeli territory by Hamas militants based within Gaza.
Hello ….. note to all journalist ….. Aid money should be matched $ or $ by all arms dealers and defence contractors ….. go for it let’s put our politicians on the firing line of the people …… no more we will sell you the tools of mass destruction and worlds taxpayers will supply the cash to rebuild to we can sell more WMD’s …. MSM please take start using some of that backbone Santa left in your stocking and try and saves lives rather than report death and destruction ……
#91 PeckedToDeath By LameDucks on 01.07.09 at 11:08 am
#1 Excellent idea. I’ll support that one.
#2. Remember the principle went in tax free due to the refund and all that happens is that the taxes are deffered.
But if the government really wants folks to save for retirement, how about reducing taxes, say by giving the refund on contributions AND not taxing the gains on withdrawal.
Just think about all the GIS they would save, and the increased clawbacks on OAS etc.
#80 Bill-Muskoka (Not Anymore) on 01.07.09 at 9:13 am Jon Stewart nailed the Gaza Strip issues Monday night as his show returned after the holidays. Stewart is Jewish, and he cannot stomach Israel’s actions.
———-
Bill, I really took his comments to heart, based on the fact he is Jewish, and very intelligent. Not supporting Israel seems to be an unpopular position in Canada and the U.S. Did you see Peter Kent last night on Newman? Where do Canada and the U.S. have the moral authority to tell another country to not go to war, and to have a ceasefire? It’s okay for the U.S. to invade Iraq and for the U.S. and Canada to send our soldiers to Afghanistan, where innocent people are getting killed, but it’s not ok for other countries to fight what they believe is a justifiable war?
My daughter and son-in-law, who follow international politics more than I, support the Palestinians and are condemning Israel for their actions. I don’t know what to think. I’ve heard both sides on different talk shows.
My personal philosophy is “War, what is it good for? Absolutely nothing!” and “Give Peace a Chance”. “People say I’m a dreamer….but I’m not the only one.” (for younger folk, that was from a John Lennon song, called “Imagine” — a favourite of mine).
Now here’s a true radical. He maintains that we can’t get out of our recessionary debt hole by creating even more debt. He also foresaw the housing crisis. Obviously, he is someone who lacks the magical , paperprestidigitizer imagination of our current “deficit uber alles” leaders.
There’s No Pain-Free Cure for Recession (Wall Stret Journal)
Now that Obama is forecasting trillion dollar deficits for years to come, I am really starting to question the agenda of politicians. Hu is pulling the strings?
Look at the prudent financial advice for individuals and families given here on this Blog. Cutbacks, living within your means, budgeting, etc. Why should the behaviour of governments be any different?
I’m way behind in my reading. Please excuse the length of today’s post, but there were a lot of posts I wanted to comment on.
—–
#31 Sgt. Turmeric on 01.06.09 at 3:35 pm
“For years the [Loblaw's/Superstore] I go to has periodically been completely out of dental floss…”
Guess we’ll have to go with Frank Zappa on this one:
“I might be movin’ to Montana soon
Just to raise me up a crop of
Dental Floss
Raisin’ it up
Waxin’ it down
In a little white box
That I can sell uptown…”
Seriously, though, I agree. For nearly a year now I’ve been saying, in apology for not being able to get hold of something, “It’s getting like Russia down there.” And it’s true. Things show up or disappear without warning or reason.
It reminds me of the story of a Russian woman who lined up for hours outside a store because they had a shipment of winter boots. She had no choice as to style or colour but managed to get a pair in her size, and said, with her purchase in her hands, that she felt like she had just won a lottery.
The other thing that it all reminds me of is Margaret Atwood’s short story, “When It Happens” from her anthology “Dancing Girls”. You’re never told what “it” is. All that happens is that things start disappearing, electricty goes off and is never turned back on, gasoline isn’t delivered any more, the radio stops playing anything but soothing music.
It seems eerily similar to what is going on at the moment.
—–
#33 don m on 01.06.09 at 4:10 pm
“How cum Bush passed over his buddy Steve???”
Damned if I know. But one thing caught my eye this morning. Barack Obama wanted to move into Blair House, the White House 100+ room “guest house” in Washington before his inauguration before his move to the Big House in a couple of weeks.
He was turned down, and has to slum it in some Washington hotel instead.
Why couldn’t he? The house was “already booked”. John Howard, Bush’s buddy and Iraq War supporter, was staying over. Tony Blair and Alvaro Uribe were offered accommodation there, too, but made other arrangements.
So the President-elect is shunted out over a riotiously unpopular Australian ex-prime minister.
Just a bit insulting, no?
“The VIP who blocked Barack Obama from moving into the White House guest house turns out to be George Bush pal and former Australian prime minister John Howard, the Washington Post reports. The Obamas, now staying in a posh Washington hotel, asked to move into Blair House early but were told the mansion was already booked.”
http://www.newser.com/story/47213/vip-guest-house-occupant-who-kicked-obamas-to-a-hotel-is.html
—–
#34 Van on 01.06.09 at 4:17 pm
“We would have been in the same pickle if Iggy was PM at the time. So what is your point?”
I’ve never backed Ignatieff – not when he wrote the piece in the NY Times (?) while he taught in the U.S., not when he was parachuted into the riding of a popular Liberal incumbent, and not when he was crowned kind of the Liberal Party.
As you may have noticed (or not), I’m not a drink-the-Kool-Aid Liberal supporter. I find a lot to question in their recent decisions – in particular the support of the war in Afghanistan. There are some individual Liberals I supported – Stephane Dion and Garth, to name a couple.
My point is that choices have far-reaching consequences. As David Bakody quoted his lovely mother saying once, “If you’re not sure, David, don’t…”.
Both Harper and Ignatieff fill me with fear.
—–
#39 Meo on 01.06.09 at 4:56 pm
““medal of freedom”
Freedom?????”
I agree. It’s like going around the world spreading democracy at the point of a gun, or bombing people to atoms to liberate them. Freedom isn’t a helluva lot of good if you’re dead.
Orwell would be ecstatic.
—–
#85 maybe Rhino? on 01.07.09 at 10:02 am
“No wonder Brazeau looked so happy at the ceremony…”
Saw him a couple of times on TVOntario. He struck me as a guy who spent WAY too much time looking at himself in the mirror. If he was hitting on one of his work colleagues, I hope they nail him to the wall.
The members of his off-reserve aboriginal group aren’t too happy with him wanting to stay leader of the group while also sitting in the Senate.
—–
#93 Bill-Muskoka (Not Anymore) on 01.07.09 at 11:45 am
“Credit cards are one of the primary reasons for the current economic problems..”
The bank just sent me a letter telling me I’m pre-approved for a Visa Gold card with a minimum $10,000 limit. This is after pre-approving me for a $10,000 line of credit about a month ago.
I didn’t ask for or need either.
And this is about the tenth credit card offer I’ve been sent from the same bank.
So the banks are extending credit to those who didn’t ask for or require it and are withholding it from those who asked for it or needed it.
Sounds like a pretty lousy business plan to me.
No wonder we’re in such a mess.
This is totally nuts.
—–
CM…I like that Atwood “When it Happens” reference.
- One day, the government just ceases to be accountable. It still collects taxes, still sends kids to war, still drives around inmassive limousine convoys. Still gives its members regualr raises. Yet, it cannot be questioned or queried by the public.
In rare TV appearances, government suits maintain that all is well and problems will be solved in due time. Their warm, fuzzy, blue-aura broadcasts a disdainful, somewhat-out-of-focus lack of concern.
In time, democratic vote results are kept secret. To protect the leader & family, the identity of the PM will never be revealed. A regal spokesperson will announce policy.
Committee and Parliamentary rules will be revised to make the process less “disfunctional”. Question Period will consist of an hour long Web-Cam interrogation of the head of the household to ensure consumer spending compliance.
Cash and pay cheques will be eliminated to be replaced with Wi-fi digital dongles. A positive dongle balance sheet will be zeroed out at year’s end to encourage timely Holiday over-spending. Each dongle will also measure body fat content and penalize cash balances to encourage weight loss.
Good Day David Bakody! I don’t know how much “good” the aid will do, when ever it is allowed through. The aid has been restricted and movement, for how long now?What can PTSD do to whole generations and nations of people? They can’t take shelter in schools, the Doctor’s reports coming out are hard for me to even listen to.
Ponzis R US
“The United States Government runs its own balance sheet based on the Ponzi principal as well. Our national debt always grows and never shrinks”
from In Madoff We Trust
Euro Pacific capital
Ah, I see our favourite Troll has returned. Now he thinks he, and his multiple personalities are what constitutes ‘Canadians’.
Schizophrenic Delusion must be such a Happy Place?
#72, #90
Hi Lana, I replied to this on the last thread by accident, but wanted to remind your hubby could start CPP now. The payment is slightly reduced .05% per month of early application. 2 ways to qualify:
1) One month of not working, or,
2) Two consecutive months earning < $908/month
Either way he can then restart earning the next month, no limit and continue working, even full time and keep collecting.
Do you have a basement that could be rented?
In university first year at Guelph the “apartment” was a bed in a basement with a curtain… beside a furnace…. but I suspect students want better accommodation 33 years later
My favourite Lennon is also “Imagine”. It has more meaning to me now then it did even then. Sadly, that song, about that part of his life and the message that he had for the world, ties in to his death.
108 PYOTR PETROBITCH on 01.07.09 at 2:19 pm
“Vancouver novelist Douglas Coupland noted that as old economic models become increasingly irrelevant, a new field is evolving called neuroeconomics – the study of human responses to risk and the economy.”
Wow! That’s fascinating. I must google that now.
“Remember, capitalism is a robust system. Things l will get better. This will pass.”
I wonder.
#107
Hi CM, when I first heard of John Howard it was from our friends in Oz who were equally concerned having witnessed the years of rigged elections there — and in the U.S.
We talked about it, and I began to read more thoroughly about how it all came about.
It gave me a very sinking feeling to start reading up, and to know my gut instincts about Harper were so, and we realized this gang, including the European extreme right wingers, were all in power at once and creating all this chaos together, helping each other get in place. I’m on tenterhooks until Harper is abolished.
Obviously the qualifications of our prime minister are extremely questionable in many ways–one small example with huge consequences is making Flaherty finance minister??? Well he will be “toast” and Harper will try to walk away from this mess he has created unscathed (fat chance but that appears to be his mentality). Was loosening the credit requirements not what got us into this mess in the first place? Their solution–get the banks to loan more money to people who are already struggling – can’t afford it,and have little equity if any left in their homes so they will spend it and bolster the economy—–christ where did these people come from????????? Should a real leader not be telling us to watch our dollars instead of trying to sugar-coat a situation thats is already too far out of control.Well Garth your the only leader i see on the horizon your books bring reality and hope! “The ship of fools”in ottawa is leaking and there aren’t enough lifeboats
#61Buford Wilson on 01.06.09 at 9:41 pm
Mr Flaherty will break the back of the recession with tax cuts. By mid 2009 it will be onward and upward for the markets again. A massive bull market is in the works. Hang on to your hat!
>>>>>>>>>>Wednesday, Jan. 7, 2009
Markets
Wed Jan 07 17:15:53 EST 2009
S&P/TSX9,121.32
-350.77 -3.85 %
DJIA8,769.70
-245.40 -2.8 %
NASDAQ1,599.06
-53.32 -3.33 %……….OOPS!!!! yuppers dim jim has it figured out why its only a “technical recession”
Capitalism tries for a delicate balance: It attempts to work things out so that everyone gets just enough stuff to keep them from getting violent and trying to take other people’s stuff.-George Carlin
A funny man whos view on the goings on in life was pretty much bang on.
#116 Lana on 01.07.09 at 4:12 pm
…”a new field is evolving called neuroeconomics – the study of human responses to risk and the economy.”
I suspect, Lana, his next venture will be to market a solid headache medication, which will dump you into a blissful state presumably without causing a dependency.
It’ll be even better for him if he can tack ‘Holistic’ on the apothecary jar. If he markets it with a glass pipe, be suspicious … very, very, suspicious.
#107 CM — Very interesting.
Soon all will end & Bush wiil retire to Texas to be consigned to his rightful place in history — ignominy.
#107 CM — Very interesting.
Soon all will end & Bush wiil retire to Texas to be consigned to his rightful place in history — ignominy.
#93 Bill — Regretably visa card interest rates reflect risk & losses due to fraud. Credit card fraud is a huge $$ figure. The schemes of the criminal element are incredible. The average Canadian goes to work every day to make an honest living. The criminal goes to work to see who he can scam and cheat every day. Unfortunately, we all pay. If you can (easier said than done ) pay off card balances within the grace period & thuis incur no interest costs.
#107 CM — Very interesting.
Soon all will end & Bush wiil retire to Texas to be consigned to his rightful place in history — ignominy.
#93 Bill — Regretably visa card interest rates reflect risk & losses due to fraud. Credit card fraud is a huge $$ figure. The schemes of the criminal element are incredible. The average Canadian goes to work every day to make an honest living. The criminal goes to work to see who he can scam and cheat every day. Unfortunately, we all pay. If you can (easier said than done ) pay off card balances within the grace period & thuis incur no interest costs. Don’t worry about easy credit — before they issue the card the bank checks you out on the credit bureau. If you don’t score you don’t get the card.
#115 Barb the proofreader on 01.07.09 at 4:03 pm
Barb, my husband got a severance package that lasts until April, then he will apply for early CPP. We have a financial advisor (and boy, did we need one) and we know down to the last dime where we will be in May of next year even with the CPP cheque–about $250.00 a week short. We’ve paid off all debts, except our mortgage. I left $100.00 owing on our line of credit to keep that option open in case we need to buy a car to replace our one and only car — a 2001 Honda, which I need to get to work. I was afraid to close out the secured line of credit in case we don’t qualify in the future.
Re: renting out the basement–I’ve been thinking of that option. It sure would be a life-style change though. We live in our rec-room!
I like Bakody’s idea of a seniors’ commune. I’m an old hippie so that would work for me!
I shouldn’t have whined so much in my prior post–at least he has a severance pay, so today isn’t an issue–next year is. I like to plan ahead, and am not one to stick my head in the sand like Go Green’s sister.
#97 Thomas Stirr on 01.07.09 at 12:01 pm has some good suggestions–some of which we heard from our financial advisor, but no way am I suggesting my husband stop drinking beer. He’s depressed as it is. What we need to do is start making our own.
I am looking forward to reading Garth’s book. We have 10 more years of mortgage payments, so I’m interested to see if he covers “reverse mortgages” as an option.
No it does not. That’s not a strategy I recommend at all. — Garth
#124 don m on 01.07.09 at 7:39 pm
I am well aware of how the credit card companies work. They became the easy way for banks to alleviate their own workload making small loans.
But the other side of that coin is a worldwide credit system which gets grossly abused by fraudulent credit bureaus, and scammers alike. The new cards with the RDIF chip will help eliminate a lot of the fraud, but criminals always try to beat the system. What the system should do is BEAT the criminals. LOL
Now, here is an interesting tidbit you might wish to comment on as well.
The U.S. and Canadian electronic funds excfhnage are incompatable via the Federal reserve Bank in NY. The reason people cannot make electronic funds transfers, without having a U.S. account through a Canadian bank is that Canada uses a 15 digits transaction code format and the U.S. a 14 digit format. The Federal Reserve Bank cannot process Canadian transfers due to that computer glitch.
I discovered this years back attempting to arrange money transfers from clients and to pay vendors. If this were compatable then Interact would replace much of the Visa/Master Card electronic transactions between the two countries, eliminating a huge share of their market hold. But the merchants have been tied down by Visa/MasterCard agreements.
Canada’s banks also have regional transaction digits which preclude direct funds transfers between branches of the same bank.
Yet, I went to Germany in 1998 and could use my Interact card at ATM’s just like here with the applicable exchange rate in effect, but no percentage fee for the transaction.
The Visa/MasterCard scheme adds a ‘handling fee’ of 1-2% to each international transaction, plus their version of the exchange rate. Visa, as an example, still cannot match Interact on account currency and they take as much (usually) as 3 days to post payments or charges. this is another scam that allows them to pick up extra income.
Reminds me of the movie ‘Brewster’s Millions’, starring Richard Prior, where the computer programmer diverts the half cent round-offs to a separate account for himself. He rakes in millions in a very short time. Runs for office, and starts the ‘Vote None of The Above’ campaign! LOL
He also made a hilarious movie called ‘Moving’ that portrays the real estate and moving industries so well.
125 Lana on 01.08.09 at 7:53 am
Lana as mentioned this so called pie of sky has much merritt …. this generation (boys, girls. and babies) lived under one roof without any trouble ….. sharing not only duties and responsibilities but cooking baking and home care ….. hello what has the government done over the past few years but force families to take care of each other to save money for fat defence contracts …. and Harper’s new Senate moves …. oh how I would love to know where all this ammo is bought that is being fired into GAZA …..
112 linda on 01.07.09 at 3:28 pm
If I remember correctly Steve Harper and Stokwell Day were blasting Chretien for not going along with Bush on the destruction of Iraq ….. not concerned about the Shock an Awe but not being in on all the money from re-construction ….. hmmmm and when he became PM even with a slim minority …. Bang Slam, Thank you Mam …. he went to the front lines in Afghanistan with multi non tendered defence contracts in favour or which friendly political parties?????? And he thinks all Canadians are as light headed as Albertans. Saw a sign outside a auto body shop that read ” You Bend the we Mend Them” I joked to owner where did you get that sign ….. he said some loca car dealer …. hello We bomb em and the taxpayers re-build em ….. More than one American President stated Indian Wars ya know to …. I hate to even talk about it!
You know in a way I hope Iggy pulls the trigger on Harper and puts all this and more right on middle of table ….. then once and for all Canadians will decide knowing his record and the sad future for millions in this world economic crisis …. I do think millions have been awaken …. I hear it more and more every day….
#120 Marc on 01.07.09 at 6:24 pm
BANG ON! Slavery with delusional class is what it really is. Like a rat in a maze they think they are FREE!
Have you read Carlin’s book ‘When Will Jesus Bring The Pork Chops’? Hilarious, especially his ‘I’m Everyman’ routine!
#128 Bill-Muskoka (Not Anymore) on 01.08.09 at 11:05 am
I do not read many books, but I have read When will Jesus bring the porkchops. Very funny book, and my wife would get upset as I would be laughing while she was trying to sleep. I liked how he said he picked the title to piss off the 3 major religions, and the vegitarians. When Wal-Mart told him to change to cover or they would not sell the book, he said it was one of his proudest moments being banned for Wal-Mart. I saw him 3 times since 2002 as I told my wife he had heart problems in the 70s due to coke use, and we would never know when he would not be touring anymore, so we should go when he was here. We were intending to go to his show in Nov 08, but sadly he did not make it that far. Too bad his whit and humour will be missed and cannot be replaced as he called it like he saw it, and did not cater to producers wishes and worked for himself pretty much.
#129 Marc on 01.08.09 at 11:49 am
He was definitely a Classic. Crude, yes, but Spot On when it came to dishing out the much absent criticism of the egomaniacs that like to play Caesar Disgustus. I will miss him, but he will live on.
My favourite Carlin was on HBO from Madison Square Gardens back during Operation Desert Storm. He nailed G.H.W. Bush and Cheney so well.
I watched the ‘Roast’ of Jeff Foxworthy on the Comedy Channel over the holidays. Bill Engvall defines what Larry The Cable Guy means when he says ‘Git ‘Er Done’ as being the true meaning of GED.
Foxworthy has made millions making people laugh, but is seldom crude. I admire that, like I did Red Skelton’s ability to make you laugh or cry almost at will by simply illustrating life as humour.
Who can forget Gertrude & Heathcliff, eh?
BTW, an excellent read is Timothy Ferris’ book ‘The Whole Shebang: A State of The Universe(s) Report’ on the state of astrophysics and theoretical physics. The man has very broad depth and the ability to write for the average person.
It is nice to read a scientist that has ventured well beyond the usual scientific drone of science as God!
Have a good day. Back to work here.
#129 Marc & #128 Bill-Muskoka (Not Anymore)
I did see George Carlin live at Centre on the Square about a year before he died. Best money I ever spent for live entertainment. I never heard of “When will Jesus bring the porkchops”, but will check out the library. Thanks for telling me where he came up with the title–that’s hilarious.
#127 David Bakody on 01.08.09 at 11:01 am
David I totally forgot until you reminded me about my childhood. Four kids (and me the only girl, so I got my own bedroom), three bedrooms, and 2 boarders. How we all fit around the kitchen table is beyond me. It was a small bungalow, but Dad was handy–he built an extra bedroom in the basement, and we still had a rec room for tv, piano, record-player, bar. Both parents worked, and Dad actually had 2 part time jobs on top of his full-time job. That was the late ’50’s and early ’60’s, and I have nothing but good memories (except for the “3 brother part” of my childhood).
So it’s doable. Obviously, unemployment wasn’t an issue in those days though.
A guy I know arranged with his employer to take a month off unpaid, actually he’d arranged to be paid more before and after, so he’d qualify for CPP. Bottom line is he’s now happily receiving CPP and working fulltime for the next few years. I guess it’d be technically okay but it seems a little dubious.
fat defence contracts …. and Harper’s new Senate moves …. oh how I would love to know where all this ammo is bought that is being fired into GAZA …..
#127 David Bakody on 01.08.09 at 11:01 am
For your amusement, during the Viet Nam conflict the 1000# bombs parts were made here in Canada. the body is just mainline gas pipe, the end rings are forged from as cast billets as are the detinator and timing housings. As a steel mill quality inspector, I was supervising hippies that were employed as laborers, who had to grind the defects out of these billets. My boss was a WW2 counter intel type who spread the rumor that these forgings were actually for Cadillac ring gears. We had those long hairs grinding diligently hour on hour, where as if they had known that it was for welding into the casings of 1/2 ton explosive packages to be delivered in B52’s they would have been outside the gate picketing! Much work in this World gets done via the dis-information route. Likewise there will be much dis-information pandered regarding what really caused this economic implosion. I do not take sides in the current dispute in Gaza, but it would stop very quick if I were in charge! But that will never happen and the “rice bowls” of those who are making this happen are safe for a few more days! If memory serves correctly, this same sort of crap happened there before. What is this, a population reduction method using cordite? The danger is if Iran sticks it’s nose into it directly with the use of some U235 then we will wish that this had been resolved sooner and more permanently!
#133 Simon on 01.08.09 at 7:51 pm
While it sounds ethically dubious, it is a nice change to see the “little guy” find a loophole. Like children learn from their parents, the average voter learns from their government. When there is so much that is corrupt at the top, it probably doesn’t bother a lot of people’s conscience to shaft the government when they can get away with it. Like bartering, or paying for something “under the table” so the taxman doesn’t get a slice of the pie.
I’ve paid into E.I. for over 40 years, and have collected once–and even then, I went back to school while collecting. There is over 6 billion in E.I., and Ontario is not getting a fair deal. If the government doesn’t do something about E.I. that is helpful to the “little guy”, then the government is an ass.
#134 Truth B Told on 01.08.09 at 11:19 pm
I had a thought last night on the Gaza war. Has Bush, in desperation for Glory in his last moments to go into history, gotten Israel to escalate this conflict to lure Iran to get involved, so Bush, and his Whore Friend Cheney (Halliburton Corp.) can profit from another madeup ’security conflict’?
Sure looks like he has to me, and we all know Bush is not beyond doing anything even a cheap street slut wouldn’t do, when it comes to profits.
G’Day All. Great stuff here, especially the funny. Better than Stewart/Colbert last night. And that was good. Helps the headache. Is Harper still going ahead with the big defence spending he had announced? I can’t keep up with all the shiny things they throw around us. I guess if it takes oil and/or shoots, it’s a go. See you! (~Men With Hats? How are you? Hope everything’s fine. Take care & Have fun!:)
#136 Bill-Muskoka (Not Anymore) on 01.09.09 at 9:17 am
Bill, I think it is more a case of the Israeli politicians are about to have their asses kicked in their upcoming national election. Their Cabinet and PM were seen as not having done anything to protect Israeli citizens from rocket attacks. So they took this opportunity during the lame duck season to get it on with the Hamas bandits. The real reasons will soon become evident, if Israel is able to totally capture and occupy all of Gaza. This maybe the bigger goal, but will the UN prove to be ineffective once more? Will Iran or Syria stick their noses into it again? Lebanon could also be collateral damage again, too! All it would take is for just one bait and switch of an airliner cargo container to blow the international airport in Israel off the map and then WW3 is underway full time full speed! We all better hope that airport security works everywhere properly!
E.I. also has some assinine rules regarding vacation pay. My vacation pay is alloted in bi weekly installments with my pay cheques. If I was to recieve it in annual lump sum payments, it could be prohibitive when and if I need to collect E.I. benefits. E.I. will take the vacation pay as money owed, from the employer, and limit or delay any benefits until the value of the annual lump sum vacation pay is eaten up, then E.I. benefit cheques are sent out, causing some workers to miss as much as 4 weeks of benefits. If vacation pay is paid out regularily, then no money is owed from employer, and benefits kick in right away after the 2 week hold back. 2 workers can get paid the same wage, collect to same annual vacation pay altough in different ways, but would have different benefits depending on how the vacation pay is paid out. If my vacation pay is invested, which mine is, I actually net more income from it, then a person recieving it in an annual lump sum. Is this a fair way of doing things? Not in my world it is not. Same income= same benefits, but leave it to a government to creat a loophole to shaft some people. Great to have people who don’t give a crap about regular workers, making the rules.
#138 Truth B Told on 01.09.09 at 1:41 pm
Last count, per the news last night was 700 Palestinians DEAD, 11 Israelis DEAD! Nice loss ratio of 63.64:1, eh?
#138 Truth B Told on 01.09.09 at 1:41 pm
Makes we wonder how the Global Conservative Movement is trying to hold on to its last few adherents, like Harper and Israel’s Schmuck?
No wonder Howard is conferring with Bush. The horizon is looking extremely DARK for them worldwide. I can’t think of any other reason for Howard to be in washington , DC, loser that he is.
Only 11 more days until, we can all smile and cheer.
#138 Truth B Told on 01.09.09 at 1:41 pm
Makes we wonder how the Global Conservative Movement is trying to hold on to its last few adherents, like Harper and Israel’s Schmuck?
No wonder Howard is conferring with Bush. The horizon is looking extremely DARK for them worldwide. I can’t think of any other reason for Howard to be in washington , DC, loser that he is.
Only 11 more days until, we can all smile and cheer.
and
Oh they care about the ‘workers’ alright. The GOVERNMENT workers!
Bill? Could Hamas be more accurate with its co-ordinates but is choosing not to be? Also, why would the Israeli Army bomb aid workers, when there are so many covert ways of doing what they do? Too bad there can’t be two states with Jerusalem as an international city. The Palestinians would need an infrastucture and maybe a police force, but they aren’t allowed arms, just rocks. What do they legally get to protect their citizens with, should they ever be recognized as a legitimate nation? I read long ago that institutions housing information, historical documents,libraries, public services, anything that makes a country able to function were deliberately targeted and destroyed. It’s a systematic destruction of a whole people. How has that ever worked out?
#143 linda on 01.09.09 at 10:27 pm
No, the missiles have no guidance system. They are just homemade tubes with a rocket motor and explosives, just like our Canada Day fireworks. They are mounted on whatever is handy, coarsely aimed, and fired.
Israel, of course, has the latest and greatest U.S. made weapons with GPS, LASER, or wire guidance systems and military grade explosive warheads. The U.S. also gives Israel $3 Billion a year in Foreign Aide to ‘buy’ the weapons. Gotta keep those war factories working you know. Talk about subsidies and corporate socialism!
Hamas has no tanks, armoured personnel carriers (APC’s), helicopters, aircraft, warships, or other such niceties. They have smuggled in Russian RPG’s (Rocket Propelled Grenades), and AK-47’s, ammo, etc.
If the UN really wants to stop this type of bloodbath they would outlaw ammo manufacturing. But, hey, just watch ‘Lord of War’ with Nicholas Cage, and you will get that picture clearly. AIN’T GONNA HAPPEN!
#144 Bill-Muskoka (Not Anymore) on 01.10.09 at 11:11 am
Additionally, Hamas does not have any money, and all such arms and munitions are DONATIONS FROM OTHER ARAB COUNTRIES! Hamas/Palestinians do not have an economy/industry etc. and are strickly a total welfare case. Now if outlawing the manufacture of arms and munitions was even a practical suggestion it would have been done long ago. Making something illegal does not stop it, but does raise the prices paid and the profits generated. Until there is a total occupation of all of the Arab countries there will always be contraband smuggling, and even then it will continue. Better to abandon those areas, and blockade all oil exports. That is the source of the cash and the ticket to the arms purchases. Even that would be very difficult to enforce in this multi-regionally aligned World.
As far as Canada is concerned, it is none of our business and we should KTFU!
Thanks Bill and Truth Be Told. I watch the world in three areas- oil/resources, arms manufacture and sales and the money markets, make that four- human blood,sweat and tears. And the politics and policies that affect those areas most profoundly seem to be right-leaning. GWB was still rewriting his history during his speech to the Troops in Virginia, at Thanksgiving. Same story right to the end. Bravo. And Truth, I wonder if things in the rest of the world would have been different regarding client and welfare states if America had known when to go to war and when to stay out of it. Men need to base that decision on a different set of criteria than what’s been used. A few would, but I believe those at the very top are bought and paid for. Do you? I like Got Rope’s theories on the Fed’s re breaking the law (and education). Maybe I connect too many things together but I can’t seem to help it.
#146 linda on 01.10.09 at 9:18 pm
FYI there was a study published by impeccable researchers about 2 decades ago that stated wars [major ones] breakout by accident not design. It went on to point out that one of the conditions to a major war is that they are preceded by a significant arms build up.
Hence if our current economic problems are in part alleviated by significant investment in munitions and hardware of war, then it is almost a foregone conclusion!
It is not whether the Western Leaders “know when and when not to participate” it is more a question of under what circumstances will the jeopardy be tolerated, and what circumstances will cause an automatic line to be drawn in the sand with immediate retaliation guaranteed!
WW2 brought on horrendous out cries about genocide and enslavement and resulted in over 6 million deaths. Yet Pol Pot and his “Black Pajamas” allegedly executed 10 million Cambodians with very minimal notice from the rest of the World. Neither instance was in any way closely associated with petroleum or energy resources.
War(s) have been described as a means of population control where other means have failed or not been applied, ie. crop failure, disease, etc. Until Homo Sapien gets with the mind set to live with in the boundaries of sustainability, expect that what you have seen is what you will get.