It’s Probably Nothing

15 Replies to “It’s Probably Nothing”

1. Not an issue in Russia. Putin again being the good guy.
   Can you imagine if we had leaders who would stand up to the WEF?
   Of course, that would make them some kind of axis of evil in the eyes of western media, and all the colons would take happily take it up the colon.

   1. Hi Lucy. Nice to see you gainfully employed with the RCMP dude.

      1. Hey Panty fantum
         Nice to see your new form of trolling, now try to add to the convo, or do need instructions first?

2. If only the Canadian electorate had the economic literacy to understand how bad govt policy which ignores immutable laws of economics will always result in terrible outcomes, e.g. expand money supply, prices rise, followed by rising interest rates to shrink money supply. Seems most voters are only interested in free stuff and just believe it’ll just keep going forever.

3. While I believe interest rates are just getting back to where they should be, I think it was very misleading for ol Tiff Macklin just last year telling Canadian’s that they can be feel assured making larger purchases that interest rates aren’t going anywhere. How this man still has a job after his complete failure is beyond me.

   1. Oh c’mon now, attacking ol Tiff is an ignorant attack on an independent banker.

      So says that PROGRESSIVE (conservative)financial “expert”, Garth Turner. Yes, he of the former Harper government, who everyday, on his blog, very clearly states he’s a “centrist” while always letting Trudeau off the hook for everything, letting Tiff off the hook for anything, and, quoting verbatim from his friends in Big Media. Ol Garf must be a YUGE fanboy of TorStar and the Mop and Pail, given his admiration for allLieberal policy, and, his staunch pro Vax, pro-Ukraine censorship.

      Garf is not the expert he thinks he is, but it’s his blog to BS all the time to his Cherranna centric base.

4. The writing has been on the wall for years. Topped with giant, brightly lit billboards.
   Interest rates had nowhere to go except up.

5. I’ve seen it over and over again, over the years. People mortgaged to the hilt in good times, never preparing for bad times, interest rate hikes or unexpected expenses. They’re on pensions and their home still isn’t paid for? What have they been doing all their lives? Or did they sell their home and buy a bigger, more expensive one because they could just barely manage the payments?

   I have no sympathy for them.

   My wife and I are on small, fixed income pensions. But the (modest) house is long paid off, the vehicles were bought used for cash, and we have a very healthy bank account. Its amazing how much more spending money you have when you have no debt.

   1. Dirtman

      Am working to realize that very situation.
      Have 2 yrs @ 1.9% on 105k.

      Adding 3k+ monthly to mortgage and to hell with the banks “penalty”.

   2. Same here, house paid for. Paid cash for last 2 vehicles, boat and RV. Took advantage of the ridiculous prices people were willing to shell out and sold the Duramax and 5th wheel for a tidy sum this past summer. Still enjoying my job so retirement is 3-5 years away. No one had to tell me that being self employed meant I was solely responsible for what kind of lifestyle and retirement I wanted, so I only ever bought toys when I had the cash, never financed a holiday on a credit card and lived in a modest home for 35 years. For every boom Canada has enjoyed, there’s been a new young generation without the experience of what a bust looks like and they’re hit – hard. I guess the school of hard knocks will always be crowded.

   3. You mean I shouldn’t have taken out a huge mortgage whose repayment would only be possible if the world economy remained perfectly stable and robust for 20 straight years?

      Who knew?

6. As to the article, a lot of financially illiterate people making bad financial decisions, with no foresight into previous decisions, making further bad decisions.
   It looks like a necessary financial reset is about to happen to those that have been careless. Note the first couple, pensioned and disabled, with a mortgage they can’t afford.
   WTF were they thinking when they bought that house? What were they smoking? Many people have bitten off far more than they can truly afford, and the next 2 to 3 years will be a comeuppance for many, many careless millenials (Trudeau voters).

7. Let me see, I bought from the bank after the X and I split. Couldn’t qualify for MTG, and paid off house in 4.5 years. Keeping my $$$$ fluid and my eye on the banks, will be nice to make some more$$$$$, off this shit show we are headed for. I will not take advice from the likes of alla unDORK, or his twin, the COLON.

8. Well … because I wasn’t ready to sell and get the f*CK OUT of the Bay Area in 2021 … I probably can’t sell till 2028 … when the Trump economy gets fully cranked up again. I’m NEVER selling for 35% below 2021 prices. Thankfully … I have a 30-year 2-1/2% fixed rate mortgage … so I can ride out the Bidinh Depression

9. Yawn. The real estate collapse all over North America is just starting to gain momentum. July 2023 should be spectacular.