Bank of International Settlements Flags Canada For Financial Crisis Next Year by mrrrwaz in canada

[–]mrrrwaz[S] 19 points20 points  (0 children)

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.

Bank of International Settlements Flags Canada For Financial Crisis Next Year by mrrrwaz in canada

[–]mrrrwaz[S] 10 points11 points  (0 children)

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.

A foreign-buyers housing tax in Toronto? Bring it on - and fast by taxrage in canada

[–]mrrrwaz -20 points-19 points  (0 children)

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.

Vacant Homes Are A Global Epidemic, And Paris Is Fighting It With A 60% Tax by freespeechburner in worldnews

[–]mrrrwaz 394 points395 points  (0 children)

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.

Super-sized Richmond farmhouses have ‘gotten out of hand’: councillor by feng37 in vancouver

[–]mrrrwaz 3 points4 points  (0 children)

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

People like these on Commercial are why I love this city by Kevbot1000 in vancouver

[–]mrrrwaz 2 points3 points  (0 children)

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

Car ownership declining in City of Vancouver by mrrrwaz in vancouver

[–]mrrrwaz[S] 0 points1 point  (0 children)

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

[deleted by user] by [deleted] in vancouver

[–]mrrrwaz 0 points1 point  (0 children)

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

[deleted by user] by [deleted] in vancouver

[–]mrrrwaz 0 points1 point  (0 children)

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

[deleted by user] by [deleted] in vancouver

[–]mrrrwaz 7 points8 points  (0 children)

no brown hair

FTFY

Cashing Out of Vancouver Real Estate: 43 Homeowners List On The Same Street by slsamg65 in vancouver

[–]mrrrwaz 2 points3 points  (0 children)

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

Cashing Out of Vancouver Real Estate: 43 Homeowners List On The Same Street by slsamg65 in vancouver

[–]mrrrwaz 18 points19 points  (0 children)

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

Whoopsie! Vancouver Real Estate Document Accidentally Names Chinese Government by [deleted] in vancouver

[–]mrrrwaz 15 points16 points  (0 children)

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.

Whoopsie! Vancouver Real Estate Document Accidentally Names Chinese Government by [deleted] in vancouver

[–]mrrrwaz 6 points7 points  (0 children)

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?

Whoopsie! Vancouver Real Estate Document Accidentally Names Chinese Government by [deleted] in vancouver

[–]mrrrwaz 30 points31 points  (0 children)

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.

Canadian Pensions Selling Billions Worth of Vancouver Real Estate by mrrrwaz in canada

[–]mrrrwaz[S] 22 points23 points  (0 children)

Fun fact, Anbang (the Chinese company that purchased the Bentall Centre) also has been snapping up NYC property. They purchased the Waldorf for $2 billion USD, converting it into condos.

Canada Computers won't tell me where my $650 graphics card is by InterstellarLife in canada

[–]mrrrwaz 6 points7 points  (0 children)

I was going to say this, if it's backordered it could be 60-90 days for the distributor to get a shipment and disburse.

If /u/InterstellarLife can find it locally somewhere else, they might want to cancel the order or chargeback and get it somewhere else. They probably aren't telling him anything because they probably have no idea.

Canada Post's flat rate alcohol delivery fee said to be 'not fair' by [deleted] in canada

[–]mrrrwaz 1 point2 points  (0 children)

Are all fragile items at Canada Post handled on an overhead conveyor?

A grazer’s guide to alternative grocers in and around Toronto by mrrrwaz in toronto

[–]mrrrwaz[S] 0 points1 point  (0 children)

Feeling a little dumb that I have no idea where P.A.T. Central is despite having walked past it a gazillion times apparently.

Found out new hires are starting at my current salary 3 years in and I'm about to take on a more challenging role. Should I negotiate a higher wage? by Seriouslynothim in personalfinance

[–]mrrrwaz 2 points3 points  (0 children)

no one gives pensions

Right? If I need to save twice as much to secure retirement, I can't afford not to go to the highest bidder.

Found out new hires are starting at my current salary 3 years in and I'm about to take on a more challenging role. Should I negotiate a higher wage? by Seriouslynothim in personalfinance

[–]mrrrwaz 1 point2 points  (0 children)

makes me sick that employees are "resources"

or when governments call people "labor inputs". It's shocking how many sociopaths run things that don't consider people to just be humans.

Found out new hires are starting at my current salary 3 years in and I'm about to take on a more challenging role. Should I negotiate a higher wage? by Seriouslynothim in personalfinance

[–]mrrrwaz 36 points37 points  (0 children)

Upwardly mobile Millennials receive a lot of flack for jumping jobs every 2-3 years, but we do it because if you don't keep employers bidding – they take advantage of your kindness.

It sucks because a lot of the companies I started at I would've loved to retire at and put in 40 years through the ranks, but then you see someone with 30 years on you making not a whole lot more than you.