randomguy

[DMac @DanielMacl1n]

The red provinces want the green provinces to economically bear the brunt of the red provinces’ choice to be red provinces.

[Richard Dias @RichardDias_CFA]

“In a time of deceit, telling the truth is a revolutionary act.” ― George Orwell

[Jeff Ross @FormerDrJeff]

Strong agree with Cory's final statement:

"The Fed Put isn't really under your stock portfolio. It's under the debt system. And the long-term cost of protecting that system is the value of fiat money itself."

[Martyupnorth®- Unacceptable Fact Checker @Martyupnorth]

Today, the fund has grown to almost $800 billion. That's because it's still receiving excess contributions, and it's getting a decent annual return on its investments.

At present, The CPP program is not using any money from the fund to finance its program(s).

That's going to change in and around 2032. By then there won't be enough workers for every retiree, and the CPP program will have to start dipping into the fund.

The CPP delivers $70-80 billion in benefits annually, and that number keeps growing. After 2032, the government will need to take out approx. $10-15 billion annually from the fund.

At that point, the fund will rely entirely on it's own performance to increase in value.

The math is tight, but in theory the CPP program should continue to be funded well into the future..... if the funds haven't be appropriated by the government for other uses (like paying down debt).

If Alberta separates, it's entitled to about $300 billion of the assets in the fund. That's because Alberta taxpayers wre the biggest over-contributors to the fund over the last 20 years.

[Mario Zelaya @mario4thenorth]

🚨 BREAKING: 15 days before Carney announced a $3.2 billion condo bailout, Brookfield, the firm he chaired, became co-owner of a Concert Properties deal in the EXACT market getting bailed out.

Conservatives moved to summon Brookfield, Bob Rennie, and Housing Minister Gregor Robertson to testify.

The Liberal majority killed the motion. 5-4.

Not defeated.

Not deferred.

Buried.

The evidence is there.

The witnesses are named.

The timeline is indisputable.

THE GOVERNMENT RESPONSE IS TO MAKE SURE YOU NEVER FIND OUT THE TRUTH.

Welcome to a majority Liberal Party of Corruption

[John Pasalis @JohnPasalis]

Below the cost of construction is still likely well above market value

Twisting themselves into a pretzel to rationalize their plan to overpay for new condos

So they can bailout builders

[Pierre Poilievre @PierrePoilievre]

What would you suggest we do with empty condos that no one can afford to buy, asks Liberal MP.

Here is an idea: let the prices drop until people can afford them. Welcome to the real world!

NO TO THE CARNEY CONDO BAILOUT

[National Post @nationalpost]

FIRST READING: Canada intervenes (again) to stop housing prices going down https://t.co/TOExw51P3F

[Kirk Lubimov @KirkLubimov]

Calling out the developers bailout by Mark Carney as it is.

Pierre Poilievre:

"What Mark Carney and the Liberals have done is they’ve inflated a housing bubble with too much money printing and immigration driving up demand.

Having created the housing bubble, and now bursting that bubble, now they want to come and bail out the bankers and developers who profited from it.
This is another example of a tiny club of Liberal elites, billionaires, and insiders getting rich by making hardworking Canadians poor."

🔥

[Steve Saretsky @SteveSaretsky]

For the first time since confederation, Canada's population has contracted for 3 consecutive quarters. BC and Ontario getting crushed with a record supply of rental in the construction pipeline.

Loonie Hour substack via @BenRabidoux
https://t.co/WSW35a8kS3

[Jason James @jasonjamesbnn]

This is Canada's version of the subprime mortgage crash in 2008. But instead of banks selling bad mortgages, Vancouver's collapse comes as a result of unchecked Chinese money laundering that began at least 30 years ago and extends back as far as 40 years.

When $300,000 condos are suddenly selling for $1 million+ you have a problem. Everyone who lived in Vancouver knew the market was doomed. In order for that type of inflation to continue, the money had to keep flowing. The municipal, provincial and federal governments would have to turn a blind eye or comply with what was happening. The banks would have to facilitate it.

The bubble deflation isn't coming as a result of government crackdowns—they were always more than happy to take their bribes. The banks were perfectly fine moving the money and the developers made billions. Nobody involved grew a conscience at any point.

What happened was the money itself slowed down. They simply ran out of properties to own and Chinese organized crime found other ways to move their cash. They turned Toronto's housing market into another bubble and bought our federal Liberal government via Justin Trudeau and Mark Carney. There's no reason to hide money in real estate if you don't have to.

Now the speculators have stopped speculating, the money launderers are moving onto other schemes and the average family in Vancouver can't begin to afford a million dollar shoebox so nobody is buying.

2500 empty condos in Vancouver. A multi-million dollar pit in Richmond. The right thing to do is let it all implode and allow the market to correct itself. Yes, people will lose money on the value of their homes and condos, but anyone who pays $1 million+ for a 600 sq ft condo should be aware of the risk.

Instead, Carney is going to bail out the developers who were very much part of the money laundering scheme and we're going to pay for it. This will give the bubble another year of life but it will eventually burst, and in the end, Canadians will pay for it again.

[Sitka Media @sitkamedia]

Poilievre calls on the feds to cancel the condo bailout, and urges developers to “lower the sale price” so units are actually affordable:

“This is another example of a tiny club of Liberal elites, billionaires, and insiders getting rich by making hardworking Canadians poor.”

[Sam Cooper @scoopercooper]

‘Moral Hazard on Steroids': The Investor Who Called the Big Short Says Carney's Condo Bailout Is Worse Than 2008 Subprime Fiasco https://t.co/SPcLPm0UJI

[Tara Armstrong @TaraArmstrongBC]

They’re taking $3.2 billion from people who work and pay taxes in Canada, many of whom will never have enough money to own their own home, and giving that money to speculative developers and foreign investors.

Just when you think they’ve run out of ways to betray the Canadian people, Eby and Carney find another.

[Aaron Gunn @AaronGunn]

This latest Liberal announcement to bail out billionaire condo developers in Vancouver with taxpayer money is crazy.

Buying up thousands of empty condos at above-market prices just to save developers from having to lower prices and sell at a loss.

This is crony capitalism at its worst.

It also doesn’t actually create any new housing units.

The condos were already built.

All it does is keep Vancouver’s real estate artificially inflated, instead of allowing prices to moderate as the market would otherwise demand.

It screws over young Canadians and those trying to enter the housing market while lining the pockets of those who’ve already made BILLIONS over the past few years.

But hey - it’s a great deal for all those Vancouver developers who threw fancy fundraisers for Carney and Trudeau!

[Richard Dias @RichardDias_CFA]

That’s a lot of words to say:

“I’m giving your tax dollars to rich people who made a crap investment.”

Canada, you should be furious about this! 🤬🤬

[randomguy @randomdude35795]

@SteveSaretsky Gross

[Steve Saretsky @SteveSaretsky]

Condo bailout coming to Vancouver.

[Andy Lee @RealAndyLeeShow]

Someone tried to warn you
About this government’s desire to create a surveillance state that will be less than democratic
We are in trouble here I think