Michael Campbell's MoneyTalks

29/07/2024

Mandatory CCP contributions have gone up 33% since 2020 - you pay a bigger proportion of your paycheque –5.95% vs 5.45% But the maximum payout has gone up only 16% from $1,176 per month to $1364.60. And NO LUMP SUM payout upon death. ie you can pay into CPP for 40 yr. - die when you turn 65 and your estate gets a max $2,500 total.

29/07/2024

Mark Carney, Liberal Party, Former Governor Bank of Canada,
“We must first acknowledge that WE HAVE LESS TO SPEND BECAUSE WE HAVE BECOME LESS PRODUCTIVE. And unless we turn that around Canadian prosperity for all Canadians will be severely compromised.”

The government shows no sign of agreeing.

29/07/2024

“When you compare Canada’s recent productivity record with that of other countries, what really sticks out is how much we lag on investment in machinery, equipment and, importantly, intellectual property.”
- Bank of Canada
Note; It is ridiculous/dangerous to suggest that raising taxes and bad mouthing corporations is a solution.

29/07/2024

"Almost half of Jasper’s Whitebark Pine forest, 44 percent, was infected by beetles. However few steps were taken to reduce the risk to the Town of Jasper with controlled burns of surrounding forest, records show."
DOCUMENTS: Environment Minister Guilbeault
was told 2 yrs ago dead trees posed risk to Jasper and controlled burns were necessary.
Parks Canada acknowledged it had not carried out “wildfire risk reduction measures around the Jasper townsite.”
- Blacklock's Reporter

29/07/2024

Housing starts – January thru June, 2024 – CMHC

Ontario down 14% Note: Toronto pop growth up 67% Jan-Apr ’24 vs growth rate in ’23
BC down 8% Note: Van up pop growth rate up 100% Jan-Apr vs ’23

29/07/2024

Repeat after me. A habitable planet is more important than the profits of a few fossil fuel companies.
Mike Hudema, climate activist
***
It's interesting how popular sloganeering continues to be - but still no practical plan, which has been the profound shortcoming of climate activists.
No fossil fuels? No power? if wind & solar then what about the massive increase in minerals needed -mined with massive machinery powered by gas and diesel? How do you make over 6,000 products - eg asphalt, lubricants, nitrogen-based fertilizers, chemicals used in agriculture to protect crops, IV bags, catheters and syringes.
Time for reality/practicality - otherwise it's just blah, blah, blah.

29/07/2024

Premier David Eby: The “unprecedented population inflows” into B.C. are “completely overwhelming.”

"To add a new city of 180,000 people every year to our province is not sustainable. Our schools are full. We are unable to keep up with housing starts.”
Riley Donovan, editor of DominionReview
***
Agreed - you must have the Prime Minister's phone number on speed dial - what does he say in response?

28/07/2024

Let's try this with one other particular religion and see the reaction, shall we?
Gad Saad
***
Why they thought this is "inclusive" is beyond me? Why offend any religion in an Olympic opening ceremony?
Profoundly poor judgement that detracted from the event.
And yes,they'd never dare do a similar mocking of Islam.

28/07/2024

Recap of EV plants taxpayer subsidies,
VW - $16.3B Stellantis - $15B Northvolt - $4.24B Ford - $1.288B Honda - $5B Total subsidies value: $41.828B Total investment value by these companies: $46B Canada (tax payers) will be subsidizing EV/battery manufacturing for decades.
Kirk Lubimov, financial advisor
Honda subsidy
"This is such a horrendous use of public funds from two governments that seem more interested in fancy ribbon-cuttings than economic growth, core public services, or the responsible use of government resources."
Rob Gillezeau, UoT Economics prof

28/07/2024

Bad news...very bad news for Cdn taxpayers who committed $46 billion in EV/battery sudsidies

“Heads should roll over the electric car fiasco”
“Hundreds of billions of euros, dollars and pounds have been pumped into this industry by political leaders and the subsidy junkies that surround them – and it is surely time they were held to account for the vast quantities of taxpayer cash that has been wasted."

Policymakers have wasted billions chasing a net zero pipe dream. It is time they were held accountable

28/07/2024

Official statement Foreign Affairs Minister Melanie Joly
on the attacks in Majdal Shams

Maybe she didn't know Israel was the target - with Hezbollah murdering 12 civilians/children - because you sure wouldn't know it from this statement.

28/07/2024

Not all religions are equally likely to be mocked and scrutinized in the West. This is a form of Suicidal Empathy that is very dangerous to the West. No religion is sacrosanct. All beliefs must be open to scrutiny. A belief system should not be too fragile and brittle from scrutiny. No Christians have committed violence in the face of such global mockery. All religions are not equal.
- Gad Saad, Professor, Evolutionary Behavioral Scientist, author

28/07/2024

-Did the federal government protect Cdns of Chinese ethnicity from the infiltration/influence of Communist Party of China?
- Did the government protect Jewish Cdns from the imported hatred/antisemitism and the blatant attack on Cdn values?
Resounding NO.

28/07/2024

In our view, we stand on the cusp of a major transformation in the FX markets:
The likelihood of significant depreciation of the US dollar relative to other currencies over the next several years.
Octavio Costa, respected macro analyst.
***
NOTE: The Money Talks thesis since 2019 is that a monetary crisis had begun but would only become increasingly obvious starting in 2021 - along with the forecast that by 2028 confidence in the US $ would have peaked and started decline into 2032 - when a new system would emerge.

28/07/2024

"A people who can no longer distinguish between truth and lies, cannot distinguish between right and wrong."

28/07/2024

Stanley Druckenmiller, Warren Buffet, Howard Marks all agree this is the key characteristic for sound decision making – sadly it's totally absent from politics.
So what it is?
Listen to mike’s comment here. Starts at 54 seconds
https://mikesmoneytalks.ca/july-27-episode/

27/07/2024

What a silly thing to say
The capital gains tax exemption brouhaha reminds me there’s a small class of people who just think they should have an exemption from any taxes.
Les Perraux, Editor-in-chief, Policy Options
***
"Exemption from taxes" – are you serious
Latest from Stats Can Top 1% of income earners ($271,300 & above) – 292,560 taxpayers – earn 10.4% of total Cdn income – pay 22.6% of total federal, provincial and territorial income taxes collected.
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110005501&pickMembers%5B0%5D=1.1&pickMembers%5B1%5D=3.3&cubeTimeFrame.startYear=2021&cubeTimeFrame.endYear=2021&referencePeriods=20210101%2C20210101

27/07/2024

Canada’s standard of living is on track for its worst decline in 40 years, according to a new study by Canada’s Fraser Institute.

The study compared the three worst periods of decline in Canada in the last 40 years —the 1989 recession, the 2008 global financial crisis, and this post-pandemic era.
They found that unlike the previous recessions, Canada is not recovering this time.
https://www.fraserinstitute.org/sites/default/files/changes-in-per-person-GDP-Income-1985-to-2023.pdf

27/07/2024

“I feel betrayed. As a dues-paying member and local executive for 18 years, to have them turn on me like this,”
“why is our union spending money and time on this, and not getting the approval from the membership?”

Last month, union executives adopted a motion supporting the contentious, anti-Israel BDS (Boycott, Divestment & Sanctions) movement

27/07/2024

Liberal Party - "The Bank of Canada just cut interest rates again.
We’re growing a strong economy that delivers for Cdns.

What the Bank of Canada actually said
Economic growth in Canada "remains weak relative to population growth."
"Household spending, incl both consumer purchases & housing, has been weak. There are signs of slack in the labour market. Unemployment rate has risen to 6.4%, with employment continuing to grow more slowly than the labour force and job seekers taking longer to find work.”

The Trudeau government said it would make life easier for people with disabilities, but it didn’t have the money to do it

27/07/2024

Serious problems with "free" daycare, dental care & pharmacare

"The reality of the need to stick to its deficit projections has collided head-on with the Trudeau government’s endless appetite for creating new social programs designed to turn around their electoral fortunes. The result is a benefit that is unfit for its stated purpose, because Ottawa’s finances are stretched so tight that it simply doesn’t have the money to do a proper job of it...Governments should spend money in ways that help Canadians, not on half-baked branding exercises that leave some of the country’s most vulnerable people barely better off”

The Trudeau government said it would make life easier for people with disabilities, but it didn’t have the money to do it

27/07/2024

NEW MoneyTalks
The most requested interviews of the year: Auditor General Karen Hogan, Terry Glavin and Doomberg. Mike calls on some of the biggest names in the history of investments, you know them all, as they elaborate on the key characteristic that is the foundation of great decisions. Plus, Mike on the most important quality for successful decision making. Sadly, it is the antithesis of political decisions. Listen Now.
https://mikesmoneytalks.ca/july-27-episode/

27/07/2024

27/07/2024

One of the dumbest, overly simplistic, ill-informed headlines I've seen in a while. And that's saying something.

27/07/2024

BC becomes the last province to lift COVID-19 vaccine requirement for healthcare workers.

"The BC NDP could not provide a science-based rationale for their continued adherence to the vaccine mandate, and this announcement is an acknowledgement that they long ago abandoned science and evidence as their driving principles for decision-making."
Sonia Furstenau, BC Green Party

27/07/2024

City of Burnaby got $43M from the housing accelerator fund and then turned around and jacked up development fees. New projects are no longer economically viable says Bosa Developments, one of the largest builders in the province.
Steve Saretsky

Bosa Properties recently sent a letter to Burnaby City Council outlining its thoughts, after it backed out from acquiring a site in the Royal Oak neighbourhood.

27/07/2024

BC's provincial health officer, Dr. Bonnie Henry has ended the COVID-19 public health emergency in BC & becomes the last province to lift COVID-19 vaccine requirement for healthcare workers.
Note: In June, BC Premier, David Eby stated, “We shouldn’t go backwards on requiring vaccines for healthcare workers.”

26/07/2024

Importing antisemitism?
3,008 Gazans to date have been approved for visas to enter Canada, “the only country in the world” to offer residency to Gaza residents ineligible under immigration programs.
- Blacklocks
Note: Polls consistently show a majority of people in Gaza support the Oct 7th attack. eg the Palestine Center for Policy and Survey Research poll found 71% of Palestinians in Gaza and the West Bank supported the October 7 massacres.

26/07/2024

Breaking; Two Just Stop Oil activists who threw tinned soup over Vincent van Gogh's Sunflowers have been found guilty of criminal damage.
Anna Holland, of Newcastle, and Phoebe Plummer, of Clapham in south-west London, both 22
Judge has told them to prepare for imprisonment.
***
NOTE:
Brendan O'Neill: “Just Stop Oil does not want to ‘protest’. It wants to inflict massive disruption and hardship on ordinary people. Everyone is sick of the country being held hostage by the apocalyptic neuroses of the upper-middle classes.”