al huxley

Former Antitrust/M&A Lawyer

[MortgagesByM @MortgagesByMB]

@zerohedge AI’s either a bubble, a bailout, or a basic income. Pick your dystopia.

[al huxley @reztahla]

@scoopercooper about time

current public sentiment across the political spectrum is aligned in their opposition to Eby/Carney’s BC RE bailout—making it ripe for true structural change—do us proud @scoopercooper & @AlderLaneEggs

[DouglasTodd @DouglasTodd]

Context is always helpful.
"Canada tops the G7 for new citizens per capita."
We're accepting new citizens 2.5-times faster per capita than, for instance, Germany.
#cdnpoli #cdnimm

[Hutchyman @Hutchyman]

#VanRE Developers are reportedly holding out at roughly $1,000 sq ft or more—does not reflect today’s prices, might be hundreds of dollars per sq ft lower. The billion-dollar-plus question is will taxpayers pay yesterday’s price to keep developers whole. https://t.co/6pmSblOZI0

[al huxley @reztahla]

@AmazingZoltan using the 0.27% default rate to defend zero-down 40-year loans is wild. flaherty banned them in 2008 because they were already failing. you're pointing at the safety of the rules you want to burn down as proof your arson is safe. like firing the goalie because you're winning

[al huxley @reztahla]

>quoting 0.27% default rates under a heavily regulated system with 20% down payment requirements to defend your zero-down, 40-year, stress-test-free fantasy is pure financial illiteracy.

>delinquency stayed low because flaherty banned 40-year terms before they could implode, not because leverage is safe. comparing a high-equity 30-year mortgage to a zero-down subprime bomb is a massive self-own.

you can't use the safety record of the strict rules you want to ban to prove your deregulation is safe

[al huxley @reztahla]

you literally posted a checklist demanding 40-year amortization, 0% down payments, and removing stress tests. that is the literal textbook blueprint for subprime lending.

you can't campaign for stripping every risk filter out of the system and then act offended when people call you a subprime salesman

[al huxley @reztahla]

No, this is the ultimate privatize the gains, socialize the losses move.

developers printed cash during the zero-rate bubble, and the second a correction actually threatens their balance sheets, carney and eby step in with taxpayer money under the guise of "affordable housing" to protect them from the free market repricing multi-year vacant $600k condos.

complete structural cowardice across the board (their typical MO)

[Matt Pukas @mattpukas]

It's a transfer of tax-payer money to rich developers.

That's what it is.

[al huxley @reztahla]

your incompetence and economic illiteracy knows no bounds apparently:

>subprime is literally defined by credit history and default probability, not income.

>a high-earning doctor or lawyer with a garbage credit score is still a subprime borrower.

>a pristine borrower with no income isn't subprime: they are just unserviceable under standard debt service ratios.

>you’re conflating risk tiering with serviceability metrics because his whole argument collapses if he admits his 40 amortization is just a subprime risk structure packaged for desperate professionals

[al huxley @reztahla]

zoltan, let me dissect, explain, and correct every tangibly false statement:

1. you think canadian banks survived 2008 on pure discipline. in reality, the state had to buy $54 billion USD in illiquid mortgage debt directly off their balance sheets under the IMPP to prevent a total credit freeze

2. zoltan continues citing low 2008 default rates to defend 40yr amortization; which is hilarious.
the feds introduced them in 2006 and flaherty had to ban them in 2008 because delinquency rates were already spiking

3. flaherty had to systematically claw back amortization limits over four years (35, 30, 25…) because the feds realized they had built a systemic risk bomb

zoltan, I genuinely hope you develop personal skills—such as critical thought, intelligible debate, and mutual respect—just as I did, after graduating the 1st grade.

[al huxley @reztahla]

Flaherty literally banned them in 2008, 2 years after introducing them, because he realized they were a ticking subprime time bomb

if you're offering 0% down and 40-year amortizations, you are by definition targeting subprime capacity

if doctors and lawyers can’t get qualified for $1m condos, it’s a glaring signal the housing market is a speculative bubble completely unmoored from local economic reality

terrible attempt at revisionist history, do better

[al huxley @reztahla]

@AmazingZoltan congrats on discovering how to inflate asset prices while keeping supply exactly the same

you’re literally proposing how to construct a subprime debt trap + introduce massive systemic risk + promote banks to collect interest for half a century

👏

[al huxley @reztahla]

@neilmhta @WSJ 🤔

[Midjourney @midjourney]

A technical dive inside our new "Midjourney Scanner"

[Virgil @VirgilsQuill]

I love that we’re the new Rome. Peace with Persia in the afternoon and a gladiator fight in the evening, all on the Emperor’s birthday. Another 1,000 years.

[Ben Stiller @BenStiller]

Watch this…

[al huxley @reztahla]

@amdeep0 @RobinhoodApp As an SEC-registered RIA, your promotions must comply with Rule 206(4)-1 and avoid false or deceptive claims about the product’s nature and performance, so you may want to circle back with legal on the wording in your post.

[al huxley @reztahla]

@tylermeredith Dear “fiscal expert”:

As Trudeau’s ex-fiscal chief, drop the GDP-vs-EV garbage equivalence.

Canada’s real GDP is flat or negative while inflation-adjusted net debt surged ~$600B in five years, thanks to your old team.

[al huxley @reztahla]

🔥

[al huxley @reztahla]

@TDotResident @EricDLombardi Absolute cope.

Over the last 5 years OTPP delivered just 6.6% annualized. A basic passive global equity index fund? 12-13%.

That’s a 5-6.5pp annual gap — roughly $70-80 billion in opportunity cost on their asset base.