The Greater Fool

2 weeks ago | greaterfool.ca | Garth Turner

Pete was hanging with his dad as the orange guy staged Liberation Day. When the American president hoisted that infamou, mythical chart of global tariffs, father lunged for the sell button. “He wanted to dump everything due to Trump Derangement Syndrome,” says Pete. “Fortunately, I convinced him not to, because the realized capital gains would have made him lose his free dental coverage. Unfortunately he did sell his TFSA – but there was no income to report that would affect his benefits.

3 weeks ago | greaterfool.ca | Garth Turner

Deb is 56. “Still semi-hot,” she tells me. Wants to retire in seven years. Owns a townhouse and a rescue Chihuahua. She’ll have a modest DB pension – maybe two grand a month if her job with the local health agency holds – and is single. “I guess marriage is a strategy,” Deb says, “but that train’s probably left the station.”She has a TFSA and a retirement savings account totaling a couple hundred thou, both in mutual funds. Plus a smaller amount in stocks her BIL suggested, at his broker’s shop.

3 weeks ago | greaterfool.ca | Garth Turner

Learn to BBQ. Take up snorkeling. Get a dog. Or a Harley. Just fuhgeddaboud the economy until at least Labour Day because, well, it’ll likely suck. The big impact? On jobs and real estate. Here’s what to expect (according to most economists plus a new report from DBRS, the bond rating dudes). Then we’ll tell you how much to worry. Probably a recession, which means negative growth.

3 weeks ago | greaterfool.ca | Garth Turner

Sorry newbie buyers, desperate realtors and lonely lenders. No rate cut tomorrow. The Bank of Canada’s in no position to drop the cost of money when it reviews things in the morning. In fact, bond yields have been rising as much as falling lately. The evil orange dude is set to double tariffs on our metals industry in a few hours. The US Fed is thinking about raising rates a little, not dropping them. Our CB is not about to pull the trigger when it may need the ammo more in a few months.

3 weeks ago | greaterfool.ca | Garth Turner

Terry, his squeeze, child and the pooch live in a Vancouver apartment. “We’re stuck in one of those dog crate condos,” he says. “Getting no closer to being able to afford a place with a patch of grass for the kiddo or dog.”The faithful blog dog read here last week about the travails facing our growing crop of wrinklies. The average income for the 65+ crowd is barely over seventy grand a year (that’s for a couple), of which at least half comes from pubic pogey.