Author: Dennis

Broaden the base, he said…

The federal Tories are finding out what happens when you treat your base as if it were expendable.

Bricker says the COVID-19 pandemic has continued to made it difficult for opposition leaders like O’Toole and Singh to campaign in traditional ways and make themselves known to Canadians — particularly O’Toole, who Bricker says is still a “stranger” to voters.

That’s because O’Toole is practically a stranger to his own party members. The Covid debacle is just the tip of the iceberg.

The one-sided ledger

The only reason why these options are economical is because the federal government has made the other options uneconomical and is throwing $165 million at the ones it likes.

But up until recently, some farmers were hesitant to make the switch [to drying grain by burning corn stalks, straw, dust from oat hulls and wood chips]. The government’s offer to cover half the price of the upgrade has apparently changed that.

Any ideas out there as to what the true carbon footprint is for burning wheat straw as opposed to natural gas to dry grain?

Maybe the debt will hyperinflate itself?

This podcast discusses the current exponential rise in debt and how inflation is not a solution, but rather a sign of terminal economic decline. It’s really the financial equivalent of Stage 4 cancer.

But actually, hyperinflation is going to be at the very end. It’s total collapse. It’s collapse of civilization. When people can’t buy food and energy.

For those who don’t have time to listen to the podcast, the interview is conveniently transcribed.

Verboten questions

What’s remarkable about this story concerning Dr. Joseph Varon from Houston is not so much his advocacy of Ivermectin for treatment of Covid, but the fact that even in the United States, journalists came under pressure from their corporate bosses not to press him for details about his protocols.

“It’s not just about the viewers. It’s about what our CEO reads.”

The bonkers economy

You needn’t go beyond the  title and the first paragraph for an accurate description of the current state of the Canadian housing market. Another “victory” for zero percent interest rates.

“My net worth has obviously gone up a lot, just based on what’s happened this year, because the market’s gone berserk,” said McDonald, a former arborist who started acquiring single-family homes in the small city of Barrie, Ontario, in 2015, and now says he has a net worth “in the millions.”

The Mask Debate

Although this debate was held nearly a year ago, it’s worth watching just to see how Denis Rancourt skillfully handles his opponent on the issue of mask mandates. Rancourt’s calm demeanor clearly gets to  Kyle Johnson, and in the last few minutes he is frustrated enough to resort to the “conspiracy theorist” epithet.

Move those goalposts!

Many of us have seen this coming for quite some time. It’s par for the course when computer models substitute for rational judgement.

Should we aim for higher,” [Tam] asked. “Yes, I think we should. As I said, shoot for higher, shoot for gold, shoot for the stars. That gives us a better buffer for managing the COVID-19 situation.”

Shooting the economy in the head should not be confused with shooting for the stars.

Policy you can’t see in Canada

There’s not many things that Zimbabwe gets right these days, but when it comes to Covid treatment they make Canada look like a banana republic. In a nutshell, Ivermectin is widely available and widely used in Zimbabwe. Their case curve has been essentially flat since February.

Being very aggressive with a drug which has caused 16 deaths in 32 years in 4 billion doses is not being a cowboy; it’s trying to save the patient’s life.

Stockholm syndrome

Why would any business owner support this bunch?

It all comes down to a slow return to pre-pandemic revenue levels amid continuing restrictions, along with a large debt load that makes it impossible for struggling firms to borrow more.

Why bother to correctly identify the problem if all you propose are solutions which will largely make it worse? The 12 point program linked to the article seems like a prescription for suicide.

Fueling the fire

With a capital structure beaten to a pulp by pandemic restrictions and climate change goals whose objective is to murder immensely profitable industries, it’s quite likely that supply and demand imbalances are anything but temporary. About the only thing you can be certain of is that the arsonists at the central banks will keep stocking up on gasoline.

Lane’s speech is an attempt to brush off worries about faster inflation that could prompt Canadians and investors to anticipate an accelerated exit from emergency monetary policy settings. Annual inflation in Canada already hit 3.4 per cent in April,…

 

Debt reset

As governments of all levels in nearly every nation have removed all the brakes on the debt engine, there are plenty of us wondering how and when the end game will occur. Many believed that the implosion should have happened long ago, but as Keith Weiner, CEO of Monetary Metals, explains in this op-ed, fiat dollars have a very captive audience, like it or not. Although the analysis refers to the debts of the United States, rest assured that Canada is in a much deeper hole.

Leaving aside that there is no political will to even attempt [to pay off the debt]—most people seem happy to borrow more to spend more—it isn’t even mathematically possible.

A banquet of seed corn

You know things are getting bad when the frenzied purchase of consumption goods starts to outstrip investment in dividend-earning plant and equipment. Why expend effort to create more seed corn when you can just gorge yourself on whatever is already in the bin?

A bigger concern for Canada might be real-estate dominance. Statistics Canada’s latest tally of gross domestic product on June 1 shows that residential investment has rarely been a bigger part of the overall economy. That’s great for real-estate brokers, but bad for competitiveness, because it suggests that houses are becoming a magnet for precious investment dollars that could be put to more productive uses. As Evan Siddall, the former head of Canada Mortgage and Housing Corp., tweeted in April, “Housing is mining our economic future.”

Destroying the world for all

This detailed takedown of Mark Carney’s vision of the new socialist utopia should send shudders down the spine of anyone who has an affinity for a society based on the principles of free markets.

Carney draws inspiration from, among others, Marx, Engels and Lenin, but the agenda he promotes differs from Marxism in two key respects. First, the private sector is not to be expropriated but made a “partner” in reshaping the economy and society. Second, it does not make a promise to make the lives of ordinary people better, but worse. Carney’s Brave New World will be one of severely constrained choice, less flying, less meat, more inconvenience and more poverty: “Assets will be stranded, used gasoline powered cars will be unsaleable, inefficient properties will be unrentable,” he promises.

But somehow the new socialism will not be socialism as usual. This time it’s different. We can because we must. The threat is too great to permit any argument. It’s surprising that as he was picking out choice quotes from Lenin for his book, Carney missed this one: “No more opposition now, comrades! The time has come to put an end to opposition, to put the lid on it. We have had enough opposition!”

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