Killer Keith

[Stephen Punwasi 🏚️📉🐈☃️ @StephenPunwasi]

🇨🇦: something extremely f*cked up is happening with federal worker pensions, and taxpayers will be on the hook.

Since the supervillains in charge won’t explain it, I guess I will.

Here’s how 🇨🇦 is looting ~$3B from gov workers pensions & dumping the risk on you.

<thread> 🧵👇

[The Economic LongWave @TheELongWave]

Michael Burry — the investor who famously predicted the 2008 housing crash — just told his clients he’s shutting down Scion Asset Management.

He’s selling everything, returning people’s money by the end of the year, and even deregistering with the SEC.

In simple terms, Burry is saying this:

My view of what things are really worth doesn’t match the market anymore — and it hasn’t for a long time.”

That’s not him quitting.

That’s him warning everyone. ⚠️

For months, he’s been raising red flags about:

Big tech is using accounting tricks.

AI companies are spending vast amounts of money on data centers with questionable payoffs.

Companies are boosting earnings in ways that don’t hold up.

Most people ignored him — until now.

This moment feels a lot like the year 2000.

Back then, Julian Robertson shut down Tiger Management right before the dot-com bubble burst, saying the market had “lost its mind.”

People laughed at value investors… and then thousands of tech companies disappeared almost overnight.

Burry started Scion in late 2000, right after that bubble popped.

He shut his first fund in 2008 after calling the housing collapse.

Now he’s shutting his latest fund in 2025.

Same pattern. Same timing. Same warning.

History doesn’t repeat itself exactly… but it does rhyme. 📉

When the guy who saw 2008 coming decides to walk away, it’s worth paying attention.

• The S&P 500’s valuations are back near bubble levels

• AI companies are spending more than they’re earning

• The music is still playing… but the chairs are quietly disappearing
🐻

[Ron Butler @ronmortgageguy]

If Ford Thinks The Batshit Crazy Tunnel Under The 401 Is A National Project: He's Found A Horde Of The Hash He Used To Sell As A Teenager

This is so totally insane, the only assumption to make is Drugs were involved

[Mo 💤 @MoTierLists]

1. Big L 7 Minute Freestyle

My favorite freestyle, every line is a quotable

[Rob Pursey @robpursey]

an album that was close to perfect at the time and has aged beautifully - No ID one of the greats 🔥

[Marc Nixon @MarcNixon24]

🇨🇦 Canada’s Real Estate Addiction: The Titanic about to HIT the ICEBERG

Canada’s economy is like a cruise ship with a single massive engine—real estate.

That engine powers 15–20% of our GDP.
But it doesn’t stop there

70% of household wealth is tied to home equity

1.3 million jobs depend on construction and housing services

Our banks? Heavily exposed to $2.2 trillion in mortgage debt

Our households? Drowning in debt, spending record amounts just to stay afloat

So what happens if that one engine fails?

We’re not slowing down. We’re capsizing.

A wave of mortgage defaults (even 5%) would wipe out $15B+, cripple banks’ balance sheets, crush consumer spending (60% of GDP), and ripple through construction, retail, and finance.

Add in a 20% drop in home prices?
➡️ That’s $40B wiped off GDP from housing alone
➡️ Another $78B lost in consumer spending
➡️ Thousands of jobs gone and a full-blown recession ignited

The Bank of Canada might try to patch the leak by cutting rates but too much of that and inflation roars back. Leave rates high, and the ship sinks faster.

But maybe it’s time to let the ship sink. This real estate Ponzi scheme has been in the makings for 25 years.

I will continue to report as more data sets become available. Follow for more.

[Killer Keith @killerkeithwhat]

@_tim_burke Subliminal Simulation is my favourite Dream Warriors album.

[Andrew Barber @fakeshoredrive]

Rest In Peace Big L

May 30, 1974 - February 15, 1999

[Big L & Jay-Z ‘95 Freestyle on Stretch & Bobbito]

[Ron Butler @ronmortgageguy]

Trudeau Bureaucrat Named Fentanyl Czar: I Wouldn't Even Blame Trump At This Point

Lame Duck Resigned PM decides the guy down the hall is the best option

Because US Intelligence will surely be impressed by Liberal Government Insider being named the Crusader to stop Fentanyl

2/

[Killer Keith @killerkeithwhat]

@StephenPunwasi @threadreaderapp unroll

[Stephen Punwasi 🏚️📉🐈☃️ @StephenPunwasi]

🇨🇦’s public safety minister just said less than 1% of 🇺🇸’s fentanyl is from 🇨🇦, and ditto for illegal immigrants.

Here's why that's a whopper of a lie. Warning: Your opinion of 🇨🇦 will irreversibly change.

<thread> 🧵👇

[Daniel Foch @danielfoch]

Trudeau changes immigration after growth started falling naturally. Will show up in data next quarter.

Conveniently timed and on brand, just like:
1. the foreign buyer ban as house prices dropped
2. the international student cap as applications dropped

https://t.co/Vv4LbjGNm2

[Stephen Punwasi 🏚️📉🐈☃️ @StephenPunwasi]

🇨🇦’s now so unaffordable that even Santa Claus is struggling with bills.

What’s wild is the cost of the whole parade is less than the amount of one of the staff allegations of fraudulent invoices submitted by a contractor, that Toronto refuses to investigate. 🙃

[Rob Hunter @robfoot]

Fun fact - I taught at Conestoga for exactly 1 week earlier this year

Sketchiest experience ever; I quit after just 1 class

I had interviewed 2+ years prior - for exactly 30 minutes - and was emailed an offer to teach several weeks before the class began

I had no phone/video calls or any kind of training or onboarding

When I called into the main line to attempt to speak with any of the people in my department, I was told they did not have Conestoga phone numbers and could not accept calls

Regardless, I love to teach, so I took the role

The material provided was awful

I was told the wrong room number, and had to go up and down floors trying to find my class

The AV/equipment did not work

Out of 40 people enrolled for the first class, 5 showed up on time

Another 20 trickled in late over the next hour

100% of them were from one specific foreign country

With respect to these kids, they had zero interest in engaging with any of the material and were content to talk the whole time I was speaking

I quit just one week later

... and now - with no contact in the last year - they are offering me the chance to teach another course next year

What do you think, should I take it?

[Nate Erskine-Smith @beynate]

Full post here: https://t.co/oYXC6U707F

[Stephen Punwasi 🏚️📉🐈☃️ @StephenPunwasi]

Most people think politicians are pushing for broad upzoning in cities to make more affordable housing.

It's actually the exact opposite.

Let's quickly talk about real estate appraisal & land values.

<thread> 🧵👇

[Killer Keith @killerkeithwhat]

@checktherhyme1_

[Stephen Punwasi 🏚️📉🐈☃️ @StephenPunwasi]

Okay, 🇨🇦. I need you to look past the left vs right BS for a sec. You don't understand how hard you're being screwed.

In a few tweets, you'll understand gov finance better than most politicians. You'll also see how f*cked up Ontario's corner store liquor deal is.

<thread>🧵👇

[Killer Keith @killerkeithwhat]

@LFPress @BudGardens I’m sure it Had nothing to do with all the seats that did not sell. @BudGardens Place would have looked like a London Tigers game in April of 1993…

[Killer Keith @killerkeithwhat]

@robpursey @thehotboxsocial We sort of did…