Topic: The money thread

[rrocket]

.

Funny enough, the rash of car thefts in Toronto, and the comments made by the Toronto Police about leaving your keys by the front door to avoid intruders going through your house made news all over the US. It was a discussion topic on the morning show of the local FM country radio. I heard it in the car on the way to the office, and when I got to the office others obviously heard about it and I fielded comments all day about about "guess you left Toronto at the right time" 

Yea, that was brutal.

And shameful.

To be clear, it was a comment by one cop, who was reprimanded.

Reprimanded? Link to that story?

The next day they actually came out and said his comment was "well meaning"...A stark contrast from a "reprimand".

Just the fact that it even came out of his mouth at a community meeting is mind boggling.

[ktm525]

Not surprising. The RCMP have been telling rural residents out west to just hide and shelter in place if thieves enter the property. The cops will be there in an hour or so.

[rrocket]

Not surprising. The RCMP have been telling rural residents out west to just hide and shelter in place if thieves enter the property. The cops will be there in an hour or so.

Weird, all I see when I read that is "buy a .410"

[KD]

Theft is rampant in rural areas around parts of NB.  Our company has lost $millions due to copper theft and the resultant damage to infrastructure, not to mention the cost of lost revenue for businesses, etc.  Thieves know the cops are on-an call basis only between 3 - 7AM.  Lucky if cops can get there within a couple of hours once something gets reported.  In one case I was familiar with they cut a ~3km long line by cutting down all the poles in between.  Even when thieves do get caught they are out and doing it again within a few months.  joke really!     

[Fobroader]

Shoot, shovel, shut up....  if someone enters your home, they shouldn't leave upright. This whole call the police thing is ridiculous, giving thieves a lung full of buckshot usually takes care of the situation.

Sent from my SM-G781W using Tapatalk

[rrocket]

Shoot, shovel, shut up....  if someone enters your home, they shouldn't leave upright. This whole call the police thing is ridiculous, giving thieves a lung full of buckshot usually takes care of the situation.

Sent from my SM-G781W using Tapatalk

It's shocking what even bird shot can do at typical home defense range (less than 20 feet).

[Fobroader]

Shoot, shovel, shut up....  if someone enters your home, they shouldn't leave upright. This whole call the police thing is ridiculous, giving thieves a lung full of buckshot usually takes care of the situation.

Sent from my SM-G781W using Tapatalk

It's shocking what even bird shot can do at typical home defense range (less than 20 feet).

I'm teaching the wife with target loads, but I don't want to question my shooting, I have a home defense round that breaks apart upon impact to prevent over penetration.

Sent from my SM-G781W using Tapatalk

[ArticSteve]

WCS hit $70. USD today.  Loonie unable to maintain .74   Makes you wonder what BOC rate cuts will do.

[ktm525]

WCS hit $70. USD today.  Loonie unable to maintain .74   Makes you wonder what BOC rate cuts will do.

Awesome. We sell WCS in US dollars =. At 1.36 we are getting over $95/barrel Cdn.

If BOC cuts before the fed that exchange rate will be what? 1.4?

[JohnnyMac]

Just checked my RSP mutual funds account at BMO that I opened almost exactly 11 years ago.  I haven't put any money into it the past 10 years, choosing to invest in other places and in other ways (no other RSP's, I much prefer TFSA's).  Well it finally doubled in value since opening, so that's not too bad I think.  I know 11 years isn't exactly a record for doubling one's money, but considering I've really only shuffled the money around within a handful of times during that 11 years (selling a few dud mutual funds and doubling down on good performers), I'm not overly unhappy with the return.  I think it's likely somewhere in the high 6's or low 7 percentage for yearly returns and that's about where I expected it to be.  If it could maybe double one or two more times before I look to take the money out that'd be great.

[ktm525]

Just checked my RSP mutual funds account at BMO that I opened almost exactly 11 years ago.  I haven't put any money into it the past 10 years, choosing to invest in other places and in other ways (no other RSP's, I much prefer TFSA's).  Well it finally doubled in value since opening, so that's not too bad I think.  I know 11 years isn't exactly a record for doubling one's money, but considering I've really only shuffled the money around within a handful of times during that 11 years (selling a few dud mutual funds and doubling down on good performers), I'm not overly unhappy with the return.  I think it's likely somewhere in the high 6's or low 7 percentage for yearly returns and that's about where I expected it to be.  If it could maybe double one or two more times before I look to take the money out that'd be great.

With inflation you are just above treading water.

Governments in Canada just don't get it. Spend spend spend. BC this time has decided to increase spending (deficit) with the usual consequences:


https://www.bnnbloomberg.ca/british-columbia-gets-third-credit-downgrade-in-three-years-1.2056951


oh and chart of the day.

[JohnnyMac]

Just checked my RSP mutual funds account at BMO that I opened almost exactly 11 years ago.  I haven't put any money into it the past 10 years, choosing to invest in other places and in other ways (no other RSP's, I much prefer TFSA's).  Well it finally doubled in value since opening, so that's not too bad I think.  I know 11 years isn't exactly a record for doubling one's money, but considering I've really only shuffled the money around within a handful of times during that 11 years (selling a few dud mutual funds and doubling down on good performers), I'm not overly unhappy with the return.  I think it's likely somewhere in the high 6's or low 7 percentage for yearly returns and that's about where I expected it to be.  If it could maybe double one or two more times before I look to take the money out that'd be great.

With inflation you are just above treading water.

Governments in Canada just don't get it. Spend spend spend. BC this time has decided to increase spending (deficit) with the usual consequences:


https://www.bnnbloomberg.ca/british-columbia-gets-third-credit-downgrade-in-three-years-1.2056951


oh and chart of the day.

Inflation averaged 6-7% over the past 11 years?  I seem to remember it being a lot less for the majority of that time.  Treading water over the past couple of years, yes, but over the 11 years, not so much.

[ktm525]

It's game over for Canada.

New budget:

40 billion+ deficits for the foreseeable future. 
Increase in Capital gains tax. In a country that is starved for investment capital. Brilliant.

We are currently wrapping up an investment (oil & gas) with US investors. It was tough enough to source the capital but now with the bush league change in taxation rules midway through? Good luck attracting investment capital and that is the ONLY thing that drives the economy. We will try like hell to transact before the June 25 deadline.

Our next project will be set up outside Canada and with it the investment dollars and jobs that go with it.

[warp]

In contrast in the US, the maximum long term ( > 365 days) federal capital gains tax is 20% on incomes over $517,000 and the flat rate for corporations is 21%, same as the normal tax rate. If you are a resident of and/or incorporated in Florida e.g. because there is no state tax, the Federal tax rate is your effective tax rate. Lower capital gains tax, specially a favorable long term rate is crucial to attracting capital and investments, an important point that the "brain trust" in Ottawa seems oblivious to. Under this budget, if you are in the happy position of earning $550,000 and a resident of Ontario, your marginal tax rate is 53.5% and 2/3rd of your capital gain will be taxed at your marginal rate

[HeliDriver]

Probably behind a paywall, but whatever.

You Don’t Have to Take Every Tax Deduction, and You Shouldn’t

[Woodrow]

At this point one can only count down the days until election 2025 and pray for policies that support business, productivity, investment,and innovation.

Honestly, the only way out of this mess is to start taking our resources out of the ground so fast it’ll make your head spin.

[sailor723]

At this point one can only count down the days until election 2025 and pray for policies that support business, productivity, investment,and innovation.

Honestly, the only way out of this mess is to start taking our resources out of the ground so fast it’ll make your head spin.

^This

However, when you are in a deep hole the first thing to do is stop digging. This government doesn't appear able to grasp that.

[WP v3.32]

With the economy situation and lately Firm moving to the US of A, its hard not to look at jobs down there.    I could use less winters

[ktm525]

At this point one can only count down the days until election 2025 and pray for policies that support business, productivity, investment,and innovation.

Honestly, the only way out of this mess is to start taking our resources out of the ground so fast it’ll make your head spin.

Have you ever tried to get a mine commissioned? In BC it falls somewhere between 15 years and never. We have clean burning natural gas to export. Canada has 1 LNG export facility coming on line.  The US has 7 operating, 16 under construction/approved and an additional 7 proposed.

Canada has built 1 export oil pipeline. Originally budgeted at 5  billion it ballooned to over $30 billion when the government took over after the private sector couldn't make headway. From the time of proposal we are close to 20 years.   

Does anyone remember the Mackenzie Valley pipeline proposal? After 30 years of negotiations and proposals it was finally scrapped without ever starting. I think it is our destiny.

Anyhow the capital gains increase has been framed as a tax on the rich. What is does hit is estates, It is effectively a death tax. I guess dead people don't vote.

Lastly a good question is: Where does the defecit money come from? Good question. In normal cases countries/funds/investors. Canada acknowledged it will purchase much of it's own debt. They issue debt and then print the money to buy them. Anyone see a problem with that? 






 

[rrocket]

At this point one can only count down the days until election 2025 and pray for policies that support business, productivity, investment,and innovation.

Honestly, the only way out of this mess is to start taking our resources out of the ground so fast it’ll make your head spin.

Drill baby, drill!!