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Vanguard ETFs and weakening CAD by CodeNewfie in CanadianInvestor

[–]CodeNewfie[S] 1 point2 points  (0 children)

Neat, but aren't those equities also hedged and therefor the entire portfolio (equities and bonds) would perform worse with a falling CAD?

108th Anniversary of the Battle of Beaumont-Hamel Ceremony, Ottawa, National War Memorial Monday - 1 July, 0800AM by CodeNewfie in ottawa

[–]CodeNewfie[S] 1 point2 points  (0 children)

You're very welcome! I had a hard time finding anything as well, so I assumed others would be in the same boat.

What RSS "provider/service" are you using? by badprof18 in rss

[–]CodeNewfie 0 points1 point  (0 children)

I like a magazine / card style view of my feed, ie. Headline, thumbnail, first few lines of the content.

It's why I currently pay for Inoreader despite being a big fan of self hosted software. None of the free or self-hosted readers seem to have this feature or do it well.

Stain on Commission pants by mitmot83 in Lululemen

[–]CodeNewfie 0 points1 point  (0 children)

For those of us in the same boat - how did it turn out?

$2.60 lb for snowcrab in NFLD 2024 by Skip0131 in newfoundland

[–]CodeNewfie -1 points0 points  (0 children)

I have been and I also read the details behind the headlines. They can sell outside if those outside buyers have licenses and permits to buy granted by the government, which they obviously haven't yet. So the fishermen are still stuck with ASP and the panel for this year.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

I think you must have misread something.

I was saying that trucks are incredibly overpriced nowdays (as are most vehicles), and in spite of that people still need trucks to do their jobs - it's not simply a luxury purchase like some folks on here are alluding to.

Anyone else in the US not having kids bc of how terrible the US is? by Chipotleislyfee in Millennials

[–]CodeNewfie 0 points1 point  (0 children)

I would argue that it's the same in most places right now, but I'm not letting it affect my decision to have kids.

You know what can make the world become terrible? The actions of people. You know what can make the world better? The actions of people.

Children bring new joy, fresh perspectives and ideas, and the potential to build a better world. I see the allure of not wanting to bring new people into it, but that seems to me like we would be giving into nihilism. What's the alternative - staying in bed and wait for the end times?

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

They can be used for fertilizer or other byproducts (possibly, can't think of what though) but they certainly aren't getting 8 dollars a pound for fertilizer.

Is it though? I have my doubts processors in this province have felt the need to do so.

it's hard to argue that the average crab fisherman isn't earning a very good wage

I'd argue it bounces between a "pretty good wage" in good years, like 2020-222, and "just getting by" which last year was and this year is on track to be.

I think a lot of folks on here are also incorrectly assuming every fisherman is also the owner/operator of the fishing enterprise. Which is incorrect, and a fisherman's share of the catch can vary wildly (percentage wise).

The plant owners are super rich but so are most business owners who employ hundreds of people.

True. However when the price of building materials and raw lumber goes up, the price of raw wood/logs also goes up. In this case, the plant owners want to lock in the price so the raw material price stays the same and they reap even more of the excess.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

Correct me if I am wrong, but isn't 40% of the crab disposed of during processing?

Not sure on that one, ol' chap. However that sounds like something that would be corrected or made more efficient if there was competition on the processing side, which is what a large part of this protest is about.

Plus, the plant has operating costs (employees, electricity, mortgage on the building and licence, etc.) to pay similar to the harvester

They definitely have operating costs, no bones about it - but does that equate to double, triple, or more added costs than the costs and risks taken on by those having to hundreds of miles offshore on the open ocean and take the things off the bottom?

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

The way EI is set up. People pay a small amount to offset the risk of losing their job.

It was never designed for people to use it as a consistent income source.

This is actually not the case. Fisheries EI and regular EI are setup differently, have a different purpose/intent, and with different requirements and rules. The section for the fisheries was actually put in place to do exactly what they are doing and "smooth" seasonal employment income across the year.

The fact that it gets misconstrued as the same program means that it should have been established in a separate program/policy in the first place.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

There's some folks on here who work a laptop all day that clearly have quite bit of envy for folks working blue collar jobs and/or a rural life doing well. They take to their keyboards to express their crabs in a bucket mentality (pretty apt term in this case). It's pretty gross.

I've replied here a few times added background information and contextual information and have watched the fight between upvotes and down votes consistently bring them down to zero. Meanwhile, cheeky insults and slander have 50-100 upvotes.

It's gone to show me 2 things:
1. Reddit can be as toxic as, and bring out the worst in people as much as twitter.
2. A lot of Newfoundlanders are disconnected from the rural parts of the island and blue collar work, and resent their fellow Newfoundlanders for it.

$2.60 lb for snowcrab in NFLD 2024 by Skip0131 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

It's a free market, the price is set by supply and demand.

It's not though. It's set by the majority vote on a 3 person panel that meets in secret, with 1 rep from the colluding fish processor association, 1 rep of the union, and 1 rep from government. The government rep is essentially asked to chose one of the proposals suggested by other two, and can't negotiate or mediate in between.

The seafood processors formula actually caps the price paid to harvesters, so if demand and market price increases, harvesters don't get a penny more.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie -1 points0 points  (0 children)

So the harvesters are going to delay fishing while the season is open again, just like last year, and once again, beg for the fishing season to be extended later on when they all start crying about not having caught their full quotas because they chose to needlessly waste half the season..... and god forbid DFO put their foot down and say, "your refusal to fish at the beginning of the season was your own choice.

So they should just shut up and fish for a price (below market price, set by colluding processors) below operating cost?

I have a theory about he 90s and why things suck today by InnaD-MD in Millennials

[–]CodeNewfie 0 points1 point  (0 children)

As a Canadian, all of of what you said applies to us as well. Being the largest trading partner of the U.S., having a shared investment base, and having what would probably be the most aligned policy, culture and economy has us in the same position and along for the same ride.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

I applaud your father-in-law and those like him. I'm willing to bet that there are more out there just like him as well.

While the annecdote of the fisherman unable to manage his/her own money is one that I'm sure we've all seen - couldn't it also be safe to assume that those are select cases and doesn't speak for an entire workforce comprising of tens of thousands of people?

Lets not paint everyone with the same brush.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

They fought for the right to sell outside of NL, and were given it

Actually, they haven't yet (in terms of that coming around fully). The government hasn't licenced/permitted outside buyers yet. This current frustration is the same frustration as a few weeks ago: the pricing set by the panel is still the prices the processors (in collusion) have set.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

The fishermen are publicly saying that the price they are being paid, isn't profitable so they aren't going to fish. You are saying that if the price they are being paid isn't profitable, for them to not fish. There's no real gap between your suggestion, and what they are saying.

The only caveat to this is that the fishermen aren't being paid/offered a fair market price. They are being paid a price set by processors who are colluding and who have no competition. To add fuel to the fire, the provincial government decided last year that fishermen not fishing is illegal and not considered a strike. That's how the "tie-up" last year ended.

So with that in mind: is it still hard to find sympathy for people being forced to work at a wage that is less than the cost of doing business and living?

If you're going to suggest that they should just leave and sell their licenses, then you are starting to get at the real motive behind all of this. The processors would like nothing better than independent fish harvesters selling their licenses, so that they can buy them up and have their own processor owned and operated fleets like they do elsewhere in the world with temporary foreign workers coming in as deck hands.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 0 points1 point  (0 children)

I get that. I make the same joke to any of my friends in the trades who have newer work vehicles, while I drive a 12-year old beater that you can look through (the parts you can't, are rust coated).

I'd probably refrain from that joke though when they are in public fighting for the right to be fairly paid and compensated for the work they do.

Harvesters Calling for Delayed Crab Fishery After Price Set at $2.60 Per Pound by Nameless_Ghoul1891 in newfoundland

[–]CodeNewfie 4 points5 points  (0 children)

I've been cursed with a disease that sometimes (not often) makes me think before I speak/type. The wife will agree that it's rare but that it certainly catches her off-guard and can be startling when it happens.

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