ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
February 15, 2024 | New Tax Filing Requirements For Jointly Held Assets in Canada
New bare trust reporting requirements for the 2023 tax year include accounts where adults have been added to the bank and investment accounts of another relative. For Bare Trusts ending December 31, 2023, you have to file a T3 tax return, says Ali Spinner, tax partner at Crowe Soberman LLP. Here is a direct video link.
February 15, 2024 | Soros Now Controls the Radio
George Soros has acquired a 40% stake in Audacy, America’s second-largest radio network that broadcasts over 220 stations across the country. The man who openly meddles in global politics on behalf of the global elite pounced on the opportunity to purchase a large portion of the agency when it fell into bankruptcy, shelling out […]
February 15, 2024 | Defusing the Derivatives Time Bomb: Some Proposed Solutions
This is a sequel to a Jan. 15 article titled “Casino Capitalism and the Derivatives Market: Time for Another ‘Lehman Moment’?”, discussing the threat of a 2024 “black swan” event that could pop the derivatives bubble. That bubble is now over ten times the GDP of the world and is so interconnected and fragile that […]
February 15, 2024 | Crude Oil War Premium Expands US$3.50/B Over The Last Week as Houthis Continue Attacks in Red Sea
GLOBAL ECONOMIC, POLITICAL & MILITARY UPDATE The surprisingly hot US CPI data yesterday drove the Dow down over 520 points to 38,273 and at its worst was down over 700 points, before a late afternoon recovery. The US Treasury 10-Year yield rose to 4.31%, up 44 BP in just over a week, which spooked investors […]
February 14, 2024 | Recession Watch: Inflation Won’t Die Until The Economy Kills It
A previously obscure inflation metric called Core Services CPI shocked the world this week by rising at an annual rate of 8%. This pretty much rules out a Fed rate cut in the near term. Responding to the prospect of “higher for longer,” the 10-year Treasury yield spiked back up to 4.3%, guaranteeing 7%+ mortgages and 10%+ […]
February 14, 2024 | What It Means To Restore Home Affordability in Canada
To restore Canadian home affordability to historically sustainable levels, prices need to halve, incomes double or some combination of both. All options are painful in the short to medium term for asset prices, the leveraged and Canada’s real estate-concentrated economy. Charles St. Arnaud, Chief Economist at Alberta Central and former economist at the Bank of […]
February 14, 2024 | The Most Splendid Housing Bubbles in Canada: National Price Drops Further in January -18.3% from Peak. End of Easy Money
House prices in Canada overall fell 1.2% seasonally adjusted in January from December. Not seasonally adjusted, they fell 0.4%, having now fallen by 18.3% from the peak in March 2022, according to the Home Price Benchmark Index for single family houses by the Canadian Real Estate Association (CREA) today. In dollar terms, the national index […]
February 13, 2024 | Biden’s Unsettling X Post – Senate Passes $95 Billion Foreign Aid Bill
Just like we drew it up. pic.twitter.com/9NBvc5nVZE — Joe Biden (@JoeBiden) February 12, 2024 Joe Biden is failing epically on social media. Biden’s campaign attempted to join TikTok, despite his own administration banning the app from government devices. The comments on his video show exactly why the government wants to ban TikTok as they are […]
February 13, 2024 | Sam Cooper Details Mortgage Fraud and Canadian Banks
So-called “liar loans” helped fuel the US property bubble and bust, leading to the 2008 recession. Unfortunately, Canada has followed suit since. Sam Cooper BREAKS NEWS on Mortgage Fraud and Canadian Banks. Here is a direct video link. Read more at “Fake Chinese income” mortgages fuel Toronto Real Estate Bubble: HSBC Bank Leaks.
February 12, 2024 | Putin on Sanctions & the BRICS Boogeyman
I do not advise governments to use sanctions for leverage due to the economic implications that may take time to materialize. In April 2020, I wrote, “Once you impose sanctions, you create a cold war. Look at Russia. Nixon opened China to divide and conquer. Are we really that stupid to […]
February 12, 2024 | China Exporting Deflation To The World
Since China entered the World Trade Organization in December 2001, US producer prices (black line below since 2000) have tracked up and down with China’s Consumer Price Index (CPI in green). Awash in excess capacity today, China is exporting deflationary pressures to the rest of the world. In several key manufacturing sectors, goods are […]
February 11, 2024 | WEF Proposes Ban on Gardening
The globalist overlords are attempting to block every option we have to remain independent from government tyranny. The World Economic Forum (WEF) has proposed a full ban on homegrown food, citing their favorite excuse – climate change. That’s right, the WEF believes that home gardening is destroying the planet. “The impact on the environment is […]
February 11, 2024 | Even Bulls Are Getting Nervous
However high stocks climb, there will always be an earnest, bespectacled egghead on Wall Street ready to tell us why shares are likely to keep on rising. Here’s Yung-Yu Ma, chief Investment officer for a firm called BMO Wealth Management and a finance professor at Lehigh University: “A better economy, healthy profits and lower inflation,” […]
February 11, 2024 | Good News For A Change, Part 1: Independent Media Is Replacing the MSM
Sports Illustrated recently shut down. The Los Angeles Times laid off a fourth of its staff, including its entire Washington bureau. CNN’s viewership has fallen to that of a modest YouTube channel. From media tracker Deadline: In the 25-54 demo, Fox News averaged 219,000, down 8%, compared to CNN with 124,000, down 14%, and MSNBC with 106,000, off by 3%. In […]
February 11, 2024 | Desperately Seeking Neutral
One of the more fascinating and mysterious parts of watching the Federal Reserve is the ongoing dialogue between Fed leaders and Wall Street. We imagine private meetings held in great secrecy. Those may in fact occur, but I’m not sure they are even necessary. The parties exchange their requests publicly. All those speeches, interviews, and […]
February 10, 2024 | Trading Desk Notes For February 10, 2024
Stock indices continue to rally The DJIA is up ~6,500 points (~20%) from the October lows, closing higher for 14 of the last 15 weeks (a multi-decade record.) The Nasdaq 100 is up ~68% in 14 months since the January 2023 lows. NVDA has rallied ~$250 (52%) in six weeks from its January 2024 lows and is up […]
February 10, 2024 | Sri-Kumar: Commercial Real Estate ‘Tsunami’ Coming
Komal Sri-Kumar, president of Sri-Kumar Global Strategies, joins ‘Squawk Box’ to discuss the latest market trends, the looming commercial real estate crisis, impact on the Fed’s rate path outlook, and more. Here is a direct video link.
February 10, 2024 | Tech Talk for Saturday February 10th 2024
The Bottom Line Headline reads “S&P 500 Index closes at an all-time high”. The “Magnificent Four” (Microsoft, Amazon, Meta and Nvidia), recently narrowed down from the “Magnificent Seven”, continued to move higher. Their extraordinary overweight in the S&P 500 Index and the NASDAQ 100 Index was the main reason why all-time highs were reached on […]
February 9, 2024 | Becoming Invisible, Part 12: Even Your Car Is Spying On You
Say you want to organize an anti-war rally or buy some controversial medicine. You’re reluctant to do this from home, where Google and Amazon are listening and (possibly) forwarding your plans to all the acronym agencies. So you round up your co-conspirators and hop in your car for a ride, during which you plan your […]
February 9, 2024 | Less Insurance Coverage Suggests Less Exposure Appetite
Property insurance premiums are leaping, and coverage is becoming harder to find in many areas of the world. Few note the significance of these trends and the negative impact on asset prices. Less insurance coverage naturally reduces the amount of net worth owners want in real estate overall and in any location. Many homeowners in […]
February 9, 2024 | Mexico Dethrones China as America’s Largest Exporter
Based on data from the US Commerce Department, China is no longer America’s top supplier of goods. Imported goods from Mexico rose by around 5% from 2022 to 2023, totaling over $475 billion. Mexico has not surpassed China in exports to the US since 2002, marking a drastic shift in overall trade as tensions continue […]
February 9, 2024 | China Struggles with Weak Stock Markets
China starts 2024 with drastic measures to head off further losses in the stock market. These actions echo government rescue efforts in 2021-2023 for the property market which have been unsuccessful. Could China stock markets rebound this time? The meltdown in Chinese stock markets is historic. This chart shows the cycles over the period from […]
February 9, 2024 | Our Drunken Sailors’ Credit Card Balances, Burden, Delinquencies, and Available Credit
Credit cards are a measure of spending, not a measure of borrowing; they’re the dominant consumer payments method in the US, having largely replaced checks and cash. They’re used to pay for anything, from bar tabs to business trips that get reimbursed – and those can be large amounts. Credit cards were used for $5.8 […]
February 8, 2024 | Yell is at it Again – Get Those Damn Americans
After Janet Yellen dared to say the IRS needed to track $600 transactions on eBay and CashApps to get the rich, now it is going after those people who are taking money out of the banks and buying real estate for cash. These disgusting Americans have to be hunted down like the English did […]
February 8, 2024 | Canadian Consumer Insolvencies +23% in 2023
Canadian consumer insolvencies rose significantly in 2023, up 26.2% in Ontario and 23.0% across Canada. The latest Hoyes Michalos 2023 Joe Debtor insolvency data is available here. Doug Hoyes explains the findings below. What’s distressing to me is the person filing for insolvency is someone with higher income than in the past, says Doug Hoyes, co-founder […]