Author: Dennis

Deep Pockets

Alternative Subsidy Canada’s Bolsheviks Climate Cult 14 Comments

When I chose the title, I was referring to the deep pockets of taxpayers. There’s no way this boondoggle is ever going to turn a profit.

Carbon capture startup Deep Sky says it will build a commercial carbon removal facility in southwestern Manitoba.

Scroll down to examine Deep Sky’s track record when it comes to sequestering not just carbon, but tax dollars.

The Alberta carbon capture project was built at a cost of $58 million by the company, Deep Sky, which has received “investments” from the Alberta government ($5 million), two banks ($2.5 million), a grant from the Bill Gates Foundation ($40 million), with Royal Bank and Microsoft committed to buying 10,000 “removal credits.” On its website, Deep Sky, which also received funding from Investissements Quebec, pitches for more. “We’re looking for industry leaders who want to join our fight against the carbon crisis.”

Elbows Down!

Gradually Then Suddenly It's Probably Nothing New Governor 25 Comments

What did anyone think was going to materialize out of this trip? All that remains is for the new governor’s water carriers to invent some positive spin for what is really another political loss.

Prime Minister Mark Carney is set to return to Ottawa today with no deals to remove U.S. tariffs from Canadian goods, but he’s leaving his key minister on Canada-U.S. trade behind to keep pressing the Canadian case.

 

Seismic Shifts

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 24 Comments

Despite all the hoopla about debt-driven GDP growth as a sign of a booming economy, the real economy apparently didn’t get that memo from the Keynesians. Shrinking business investment means less demand for basic commodities like oil.

They were about to get some life-changing news. Their employer, a major oil producer almost as old as Canada, was going to reveal a dramatic shift in strategy. Imperial would be selling its sprawling headquarters in Calgary, cutting hundreds of jobs and potentially outsourcing many of those positions overseas.

One worker said they had suspected something was up, but nothing that seismic.

Shooting Your Own Foot

Canada’s Bolsheviks I, Napoleon nannystate 10 Comments

In response to the decision to close an Ontario liquor bottling plant, Ontario consumers may soon be unable to buy liquor made in Gimli, Manitoba. So much for inter-provincial free trade.

“A message to all the bigwigs at Diageo: I swear to God, those bottles of Crown Royal are coming off the LCBO shelves. When the last person walks out through that door, we’re going to make sure LCBO takes off their brands because we need to stick together,” Ford said during a union rally in Brampton on Saturday.

Diageo also noted that the company will continue to have a presence in Canada, including their Canadian headquarters and warehouse operations in the Greater Toronto Area.

Golden Era?

Art Of The Deal Great Reset 17 Comments

I’m skeptical that revaluing gold would change much in the finances of the US government, or any other government for that matter, but I’m curious to hear what SDA readers think.

Here’s my take: despite a legislative quirk that pegs the dollar price of gold at a ridiculously low level, I’m quite certain that the creditors to Uncle Sam have already pegged it implicitly at it’s true dollar price. It’s as if your farm was valued at $2 million and you owed $1 million, but your balance sheet hadn’t been updated in years. It’s quite likely that your creditors would have already recalculated that balance sheet for you, or they would not have lent you the money in the first place. Readjust your balance sheet and you will find that you still owe $1 million.

US gold re-marking would have implications for both the Treasury & Fed balance sheets.

  • US Treasury: assets would rise by the value of the gold re-marking & liabilities would rise by the size of gold certificates issued to the Fed.
  • Federal Reserve: assets would rise by value of gold certificates & liabilities would rise by a crediting of cash in the Treasury cash balance (Exhibit 4). And here is the punchline: the Fed balance sheet impact would look like QE though no open market purchases would be required & Fed liability growth would initially be in TGA.

In other words, the best of all words: a QE-like operation, one which see the Fed quietly funnel almost $700 billion in cash to the Treasury… but without actually doing a thing!

That Sinking Feeling

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing nannystate New Governor 9 Comments

Not to worry. I’m sure this thing will pay for itself.

Canada recorded a slightly higher C$7.79 billion ($5.59 billion) budget deficit for the first four months of the 2025/26 fiscal year as government expenditures grew faster than revenues, the finance ministry said on Friday.

By comparison, the deficit in the same period a year earlier had been C$7.30 billion, it said in a statement.

 

The Cheque Is In The Mail

Canada’s Bolsheviks entitlement generation Gradually Then Suddenly nannystate 33 Comments

Our family farm used to have mail delivery to the top of our lane but that was discontinued sometime in the early 1960s. After that, we picked up our mail in a small town. In 1970, that post office closed and we used a community mailbox which is still in service to this day. Miraculously, the sky didn’t fall.

The Canadian Union of Postal Workers went on strike Thursday after the government announced door-to-door mail delivery would end for nearly all households within the next decade.

Canada Post said the strike will mean mail and parcels will not be processed or delivered for the duration of the strike and no new items will be accepted.

 

Running For Cover?

Uncategorized 8 Comments

What’s with the mainstream financial media’s sudden interest in bank runs? I can’t imagine what the Canadian government might have done to annoy an American administration who might see a need to gate the assets of a Canadian bank, can you?

Zelmer said that Canada’s decision to ring-fence the Canadian assets of Maple Bank, a small German lender that ran into financial difficulty in 2016, was something of a precedent for how regulators in other countries might respond.

“We should not be surprised if the United States and other countries would be willing to ring-fence a much larger Canadian bank with many foreign depositors,” he wrote.

Barista Blues

Gradually Then Suddenly It's Probably Nothing 28 Comments

Here’s more evidence that the marginal consumer is finally saying no to $6 lattes.

The Seattle coffee giant will notify employees whose positions are being eliminated early Friday and said that it plans to close an undetermined number of stores in North America in the coming days.

A review of Starbucks locations revealed that many are falling short of financial performance targets or are failing to create the environment customers expect, according to a letter sent by Starbucks CEO Brian Niccol on Thursday.

Higher Learning?

Canada’s Bolsheviks Children R Our Future War On Agriculture War On Meat 21 Comments

The Food Professor sat down to talk to some University of Montreal grad students the other day. The feedback he got confirms the suspicions of many that most universities have never altered their mission to graduate as many Marxists as possible.

Spoke with a group of graduate students and faculty today. The consensus in the room was clear: they believe food companies shouldn’t be allowed to make a profit, and meat consumption should be banned or at least heavily discouraged.

Thread reader here.

 

Going For Broke

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 11 Comments

When the mainstream financial media starts to use the terms “alarm” and “collapse” in the same sentence, it’s probably too late to do anything about it.

The report from University of Ottawa’s Missing Middle Initiative compares housing starts and sales in 34 municipalities across the Greater Toronto Area and neighbouring Southern Ontario cities for the first six months of 2025 with the same period from 2021–2024. It found starts are down 40 per cent relative to that four-year average, with pre-construction condo sales plunging 89 per cent and other homes 70 per cent.

 

Golden Era?

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 16 Comments

The mainstream financial media is looking at this the wrong way. It’s not gold that’s going up, but rather the dollar that is going down. For the most part, all the derivative currencies are doing even worse. The main reason is not imminent hyperinflation but rather fear of default as the fiat debt burden continues to rise exponentially.

Gold futures surged to around $3,750, while bullion for immediate delivery traded above $3,700 per ounce.

Luxury Items

Gradually Then Suddenly Great Reset It's Probably Nothing 20 Comments

The jump to 15% minimum suggested tips is probably playing a role, but even without that the restaurant industry is struggling with the pandemic hangover and a marginal consumer who cannot afford to eat out.

Three in four Canadians are eating out less, often because of the high cost of living, a Restaurants Canada report published Monday found. That share is even higher among those aged 18 to 34 at 81 per cent.

Restaurants Canada chief executive Kelly Higginson said it’s an “alarming” trend for the foodservice industry.

Repeat Offenders

Cold Dead Hands Gradually Then Suddenly It's Probably Nothing 6 Comments

It’s not like this incident happened in the core area of Winnipeg, but rather a quiet suburban neighborhood. Any bets on how long it will be until this guy is back on the street?

A 23-year-old man with a lengthy rap sheet is accused of barging into a northwest Winnipeg home Monday evening and randomly assaulting two elderly residents as they relaxed in their living room.

George has numerous prior convictions for possessing weapons and breaching court orders. He’s also been convicted of uttering threats, obstructing a police officer and assaulting an officer. George was barred from owning weapons for life after pleading guilty in August 2024 to several firearms possession offences he committed in November 2023.

Good Riddance

Freespeechers Insufferable Twits New Rules 10 Comments

One down, one to go.

“For more than 20 years under their ownership, Ben & Jerry’s stood up and spoke out in support of peace, justice and human rights, not as abstract concepts, but in relation to real events happening in our world,” he wrote. “That independence existed in no small part because of the unique merger agreement Ben and I negotiated with Unilever, one that enshrined our social mission and values in the company’s governance structure in perpetuity. It’s profoundly disappointing to come to the conclusion that that independence, the very basis of our sale to Unilever, is gone.”

Racing To Zero

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 7 Comments

Why is it that no one in the mainstream financial media ever asks, “Whatever happened to higher for longer?”

The Bank of Canada reduced its benchmark interest rate by 25 basis points on Wednesday, a move observers had almost universally expected amid various signs of economic weakness.

The Bank cited the “weakening economy and less upside risk to inflation” in its decision to cut.

 

Hate Speech?

Freespeechers nannystate 20 Comments

Pam Bondi is probably going to have to walk this statement back. The First Amendment actually protects hate speech, provided that no threat of physical violence was made against a specific individual.  We already have laws against criminal threats, so there’s no need to conflate that with hate speech. You might not like someone’s advocacy of political violence or even assassination, but as long as no identifiable individual was mentioned, you can’t be prosecuted for it. At least not in the United States. And we’re all well aware of what happens in other nations when hate speech becomes a criminal offense all on its own.

“Hate speech that crosses the line into threats of violence is NOT protected by the First Amendment,” Bondi wrote. “It’s a crime. For far too long, we’ve watched the radical left normalize threats, call for assassinations, and cheer on political violence. That era is over.”

Another less than encouraging comment from Bondi, this time over a business that did not want to print some posters for a vigil held to honor Charlie Kirk.

“Businesses cannot discriminate. If you wanna go in and print posters with Charlie’s pictures on them for a vigil, you have to let them do that. We can prosecute you for that,” Bondi said during a Monday appearance on Fox News’ “Hannity.”

 

Headed For A Bust?

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 1 Comment

Inquiring minds want to know: can the Bank of Canada cut interest rates quickly enough to avoid a collapse of the housing market?

Butler says clients who locked in around 1.7 per cent in 2020 and 2021 are now renewing closer to four per cent, pushing payments up 20 to 25 per cent.

Even if the BoC cuts this week, affordability challenges will persist. “You cannot solve something that has taken 20, 30 years to build up in five minutes,” Tal said.

The Simpsons Monorail

Great Moments In Socialism New Governor The Libranos 47 Comments

Four years? I doubt if the expropriations for the right of way would be done with by then, much less the payoffs for indigenous “consultation”.

On Thursday, LeBlanc said the work over the next four years would determine the final route between Toronto and Quebec City. “Imagine the assessments, imagine the Indigenous consultations along a 1000-kilometre route,” he said.

Alto CEO Martin Imbleau has estimated the total cost of the high-speed rail project at between $60 billion and $90 billion.

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