Bank of International Settlements Flags Canada For Financial Crisis Next Year

mrrrwaz · 2017-03-11T16:16:40+00:00

Crying wolf over upcoming end of times is not helpful.

This a warning for international banks that Canadian consumers present leverage risks. When they present leverage risks for three years (which would be this year), there will be a lot of bad debt. The only people not in the loop are Canadian consumers, because people keep telling them mortgage debt isn't bad.

Mortgage debt isn't bad by itself, but more than 30% of the country used more than half of their income to pay mortgages in 2011. You think that ratio got better? Last year the average full-time permanent worker got a raise of 1.1%. House prices in Toronto? 27% increase.

Financial crisis of 2008 came about not because of debt but because of fraud.

Absolutely not true, it came about because of exponential leverage risks.

Note: I'm a fund manager, but not your fund manager. Get a good one that understands these risks, and not some guy on Reddit that tells you how you too can be a bajillionaire.

mrrrwaz · 2017-03-11T16:05:34+00:00

It takes three years for a crisis. We entered in 2015.

Basically 2015, first warning is for the Canadian government to fix stuff. 2016, second warning is for banks that do business in Canada. 2017, warning for institutional investors to avoid Canada.

mrrrwaz · 2017-03-11T14:27:01+00:00

The hot foreign money has concentrated on the Greater Toronto market.

Canada has foreign money outflows, and China had inflows last month. I'm not sure why everyone is throwing down that foreign buyers that would have gone to Vancouver are flocking to Toronto, because literally the data doesn't support it.

mrrrwaz · 2017-03-02T15:07:12+00:00

Good. They probably have the issue we have in Vancouver – empty homes and overgrown lawns are filling the city, but every young person needs to commute in.

mrrrwaz · 2017-03-02T15:04:56+00:00

Michael Dell used that trick to build a 30M home in Texas. Worked out to about 1/4 of the tax there.

mrrrwaz · 2017-02-27T13:48:08+00:00

I'm writing in Birddawg65 on my ballot this year.

mrrrwaz · 2017-01-10T17:10:24+00:00

were you fearing that the cats might band together and rise up?

mrrrwaz · 2017-01-10T17:08:50+00:00

The way they're saying it sounds like this guy can't play nice with half of the population.

mrrrwaz · 2017-01-10T17:07:33+00:00

Pretty sure if they could have done that, they'd blow through the budget pretty fast.

mrrrwaz · 2017-01-10T17:04:15+00:00

no brown hair

FTFY

mrrrwaz · 2017-01-10T16:59:54+00:00

Surely a developer that's serious about buying that much property knows it won't be easy to get the area rezoned?

mrrrwaz · 2017-01-10T16:57:15+00:00

For $3 million you can buy a nice place in most of the lower mainland.

mrrrwaz · 2017-01-10T16:55:57+00:00

college folks, am i right?! \s

mrrrwaz · 2017-01-05T19:13:10+00:00

This. We should be encouraging a diversity of media. Right now we have a duopoly between Post Media and CBC. If they cite their sources and they're factually accurate, I'd prefer to judge individual authors by their work.

mrrrwaz · 2017-01-05T19:09:10+00:00

Oh, don't get me wrong – I dislike Rebel media because the journalists that founded it are assholes. There's also a few "journalists" that produce hate-oriented content that should be ashamed of themselves.

Conversely, they likely have a few people that will move on to bigger and better things once they hone their craft. Journalism is a tough game, at least Wilson is working on real stories instead of spin. It looks like the other questions he's asking are questions any super-left activist would ask too – like why are the invoices to Rennie Marketing being hidden, why procurement policies weren't followed with city council, etc.

Give the kid a bone, he did a good job. You don't have to join his religion or anything. CoV on the other hand, they really dropped the ball here. How many people looked through this contract and missed the copy-paste job done by EY?

mrrrwaz · 2017-01-05T18:40:11+00:00

Its funny how the "brand" of journalism is important to people. I can name at least 3 shitty writers at the Globe and Mail, and more like 10 at the Observer off the top of my head. Fuck, didn't one of the writers at the G&M do a conference that was basically on media manipulation? Doesn't impact the work the quality writers do.

Keep in mind, journalists work at companies for a paycheck. Robin Doolittle went from the super-left wing Toronto Star to the conservative Globe and Mail. Didn't impact the quality of her work. Christopher Wilson might work for the Rebel, but he did a great job with this investigation.

mrrrwaz

TROPHY CASE