33 days to go for recreational marijuana legalization in Canada. The news stories and hype will likely result in a manic bubble in the bud sector which will be followed by an epic crash. The big guns will make money as the stock prices spike and then make even more money shorting the sector. It wouldn't be surprising to see year-end news stories about poor fools who went all-in near the all-time highs and are down 50% or worse.
Today, Cronos Group Inc. ("Cronos Group" or the "Company") is pleased to announce the launch of its second cannabis brand for the domestic recreational market, Spinach™.
What the bloody hell?
On October 17, 2018, Canada is expected to become the first G7 country to federally legalize recreational cannabis. This watershed moment means that consumers in Canada will be able to purchase high quality Spinach™ without fear of persecution for their love of beautiful green plants.
Is this a joke?
"Cronos Group's first priority is responsible distribution so we made sure to select a brand name that we felt would not appeal to kids," said Mike Gorenstein, CEO of Cronos Group. "Spinach™ has been carefully curated to deliver on our promise to provide high-quality products to fun-loving mature adults who are sick of hearing about kale."
What's next? Broccoli?
Many business managers and economists have publicly expressed concern recently about a deteriorating environment for corporate investment in Canada. Federal Finance Minister Bill Morneau has rejected these concerns, notwithstanding data showing that capital investment growth has slowed dramatically in the past few years.
Why did that happen?
While many factors contribute to a country’s business climate, public policy — including at the federal level — plays a key role. Since taking office in 2015, the Trudeau government has raised taxes on upper earners, created mass uncertainty with its mandated carbon-pricing scheme, and run up huge budget deficits (raising the spectre of future tax increases). This contrasts with recent U.S. government initiatives to reduce the corporate tax rate and eliminate numerous costly business regulations.
Funny how the US president is not named for the booming economy.
Anyway, Trudeau also decreased the annual limit on the Tax Free Savings Account (TFSA) from $10,000 to $5,500. The mega rich with tens of millions of dollars likely don't care about that change but those in the middle class who would like to shield their tiny investments from taxes got a significant hit. A few thousand dollars a year invested plus compound interest could easily result in tens of thousands of dollars in capital gains taxes down the road.
Trudeau portrayed the TFSA as an unfair tool for the rich but in reality it's the best long-term investment account for low-to-middle income earners. For reference, the Individual Savings Account (ISA) allows UK citizens to deposit £20,000 (~$34,000) this year. So, Trudeau didn't merely raise taxes on upper earners, he also gave the middle finger to the average Canadian.
With just weeks to go before recreational pot becomes legal across Canada, a new report commissioned by Health Canada predicts the demand for it will be substantially higher than widely anticipated.
Of course. When marijuana is legalized, the overwhelming majority will switch from the black market and new interested customers will want to try it. Also, edibles and beverages will be on the menu in 2019. That will be another boost in demand.
It calculated the amount at 926,000 kilograms for both recreational and medical use. That’s a whopping 41 per cent higher than the estimate of 655,000 kilograms by the Parliamentary Budget Officer in 2016.
[...] If the new report is on the mark, Canadians could face shortages after recreational marijuana becomes legal across the country on Oct. 17.
Surely, the cannabis growers and the government officials wouldn't mind elevated prices in the beginning. As supply catches up, the prices will naturally drift down.
Short-sellers appear to have covered their positions in Canopy Growth Corp. in droves last month after news that the Canadian pot producer had lined up a multi-billion-dollar investment from U.S.-based alcohol giant Constellation Brands Inc.
Canopy Growth closed at $32.15 on August 14 in Canada. The stunning $5 billion investment by Constellation Brands was announced the next day. Yesterday, it closed at $68.83. That's a staggering 114% increase in just three weeks! Retail investors are buying. Institutions are buying. Shorts, of course, are scrambling, cursing, and buying.
The deal was announced on Aug. 15, when the short interest in Canopy was approximately 19.3 million shares, the IHS Market numbers show.
That figure began to decline noticeably in the days that followed, reaching as low as 10.4 million shares, the lowest level since February.
The legalization of recreational marijuana in Canada will be on October 17.
Prediction: Emotional noobs, traders, and shrewd opportunists push the stock prices higher in the cannabis sector followed by an epic crash at the end of October.
Or, in other words, can you become rich?
Dr. William Hampton: Existing studies have determined that many factors play a role in how much money a person will make. Some are very obvious, such as education and occupation, while some are less so – taller people earn more, for example. Our study was the first, however, to create a validated rank ordering of these factors (age, occupation, education, geographic location, gender, race, ethnicity, height, age, delay discounting) using machine learning.
Our results were interesting because when we compared the importance of these factors we found that how much a person discounts the value of future rewards compared to immediate ones (known as delay discounting) is more predictive of income than some other ‘big’ variables such as age, ethnicity, and race.
This is one reason why so many poor migrants from China become stunningly wealthy in a few decades in the West.
This is also why many poor people will remain poor. One could give each of them a million dollars but they'll be broke again a few months down the road. They simply don't save or conserve for the long term. Look at the people who start off in life as not-rich and then slowly build wealth over many years. The most common factor is their high savings rate.
The most spectacular example of that was Ronald Read. He died at the age of 92. He left behind $8 million. What was his profession? Janitor.
I read with great interest a recently released Ontario Securities Commission (OSC) report entitled Encouraging Retirement Planning through Behavioural Insights. It provides strategies for governments, employers, financial advisers and those planning for retirement to implement to make it easier to become financially independent.
Behavioural finance has risen to prominence recently, in part because of the work of “nudge” economist Richard Thaler, who won the Nobel Prize last year for his pioneering work in the field of behavioural economics. There can be psychological impediments to making financial decisions that are in our own best interest, but there are simple things we can do to encourage behaviour today that leads to better outcomes tomorrow.
The same government that borrows and spends with record high levels of debt is supposed to encourage better financial behavior in the average person? Instead of fucking with nudging people, perhaps the government can try to balance the budget.
For one young investor, riding the green rush hasn’t exactly gone as expected.
“Performance-wise, it’s been crazy,” Shayan Tabaei, a 24-year-old software developer who lives in Richmond Hill, Ont., said in a phone interview with BNN Bloomberg.
Tabaei, an active participant in the popular “Weed Stocks” discussion forum on social news network Reddit, started investing in stocks for the first time in February. He has held pot stocks almost exclusively, with the exception of a recent position he took in a technology company.
This guy started "investing" six months ago.
“I went from being 25 per cent under overall in my portfolio to being 30 per cent up. Now I’m six per cent up,” he added. “I’ve never cashed out any big amounts. The lesson learned to me is to take profits as they come.”
That's not investing. That's short-term speculative trading. Seriously, the legalization date is October 17. The BIG revenue hasn't even hit the books and this guy wants to take profits.
“This is like the second coming of [the end of] prohibition,” Tabaei said. “The industry is new … When a bunch of the big tech companies were new, all of a sudden they just blew up out of nowhere. So I always had the mindset that the same thing was going to happen for pot stocks.”
That's true. The problem is that the spectacular rise started a couple of years ago. Canopy Growth Corporation, the largest marijuana company on Earth, had a stock price around $3 in 2016. It hit $44 in January this year. Today, it closed at $58.62. What's funny is that many new "investors" don't want to touch it because it's so expensive. Instead they jump into no-name, no-license, no-future penny stocks "thinking" that it'll be easy for their exciting "investment" to double or triple in a few weeks.
There will be a lot of tears when this bubble eventually bursts.
Socialist New York congressional hopeful Alexandria Ocasio-Cortez lamented the closing of her former employer but glided over the fact that it was closing because of the minimum-wage hikes she supports.
Michael Saltsman of the Employment Policies Institute said politicians are to blame for the closure of businesses like The Coffee Place, which had survived for nearly 30 years. Saltsman said that rather than visiting her soon-to-be unemployed coworkers, Ocasio-Cortez should reevaluate her approach to economic regulation.
Fat chance. Socialism appeals to the two base and basic feelings of many people: greed and envy. Low-skilled workers should get a minimum of $10 $15 $20 an hour! The fact that money doesn't grow on trees and that many small businesses close their doors which means that those very same workers end up with $0 an hour is of very little concern to demagogues.
Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or US$90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a US$25,000 loan. Her investments are now down about 90 per cent.
Over the years, I've talked to many Canadians who wanted to "invest" in crypto or an explosive penny stock. The common element is always their microscopic time horizon. They want to get rich tomorrow! One guy uttered this memorable statement: I will only invest in a stock if I think it'll go up by 50% in the next year.
Most people don't have the personality to delay gratification and save money. What's sad is that the many who do, end up going YOLO for lottery tickets or going FOMO on the latest get rich stock or scheme.
Building wealth is an excruciatingly slow process for the average person. Trying to do it in a few days, weeks or months usually ends in tears.
A couple we’ll call Sally, 54, and Mike, 52, live in Alberta. They both work as personnel specialists, but have only been in their current roles for six and eight years, respectively. Sally and Mike have two children, aged 18 and 20, but their financial assets are modest: A house worth $400,000 on a 40 acre plot, and additional assets worth $148,000, including 12 acres of raw land, a car, a truck, four horses and a trailer. They also have $341,524 in debt, leaving their net worth at just over $200,000 — not a lot for folks expecting to retire in 10 to 15 years.
“We have put everything into our house and land,” Mike explains. “We have no RRSPs, no TFSAs, and no savings apart from $10,000 in chequing. We will have benefits from our employer, but with just a few years on the job, it won’t be a whole lot. Our dilemma is how we can retire with a monthly income of $5,500 after tax?”
No RRSP! That's like a 401(k) plan for those in the US.
These people worked for thirty years and completely neglected their retirement accounts. They missed out on three decades of tax sheltered growth.
Unfortunately, this mindset is quite common. Numerous people in the past few years have told me how they've bought a new house with a giant mortgage. They'll definitely start saving for their retirement once that 25-years-long debt has been paid off. One guy who told me that was in his late 40s!
The life of Bruce Linton, the CEO of the largest cannabis firm in the world:
Long before he launched the medical marijuana company now known as Canopy Growth, Bruce Linton took at least 16 business trips to India. Most times, he planned to visit the Taj Mahal mausoleum in Agra, one of that country’s most famous tourist sites.
“I never got there,” he said. “Business,” he said somewhat ruefully by way of explanation.
A few stunning details about the firm:
Linton, who owns about 2.7 million shares, recalls the day Canopy Growth first began trading on the TSX Venture exchange four years ago at less than $3 per share. There were a lot fewer shares at the time, so the firm was valued at just $91 million.
“What did we have back then?” Linton asks rhetorically. “A building with three rooms in it and a big plan.”
So, yes, the value of Canopy has exploded 100 to one.
Incredible. Those who didn't invest in it at that stage, sorely regret the missed opportunity and those who did invest in it, deeply regret not investing enough!
Canopy Growth now controls 21 subsidiaries and has invested in 13 affiliates. This encompasses a wide range of activity, from production to research into new uses for marijuana’s active ingredients.
Cannabis products are going to have explosive growth in the next few years. Canopy is, no question, the global leader. The rest of the companies have to fight over the second position. Let's see which of them gets the attention of Big Pharma or a CPG giant.
In the 2011 federal election 25 per cent of women were elected, compared to the 2015 election when 26 per cent of women or 88 females, were elected MPs.
Yet, women compose over 52 per cent of Canada’s population. Equal Voice, a “multi-partisan” organization dedicated to electing more women to political office, states that women compose 29 per cent of Canadian provincial MPPs and 26 per cent of MPs, still a lower number of women elected in most of Europe, parts of Africa and Australia.
This year there are two women – Nathalie Xian Yi Yan, who has previously run for council seats over the years and Ute Schmid-Jones, who has run in the federal election as a Green Party candidate – campaigning for mayor.
[...] “It is said academically that females have many advantages and strengths that are better than men,” she [Yi Yan] said. “But eventually I believe the passion for the city and someone who really cares is a major thing. I love the people.”
Strange how those "advantages and strengths" don't translate to innovation and wealth in real life.
The best part is this comment by a fellow named John:
More femin-Nazi BS ... women know better ... they gave the USA Prohibition. They go power hungry every time. Merkel is killing Germany. The only woman that turned out well was Thatcher but there are NO Canadian Thatchers...all the women in this article are left to far left to far far left wannabe tyrants...won't be getting my vote
Before today, the largest ever raise by a cannabis company was $600 million CAD dollars. Now, Constellation Brands, the US alcoholic beverage giant, will be investing $4.5 billion CAD in Canopy Growth Corporation.
Constellation Brands will increase its ownership interest in Canopy Growth by acquiring 104.5 million shares directly from Canopy Growth, thereby achieving approximately 38 percent ownership when assuming exercise of the existing Constellation warrants. Constellation Brands is acquiring the new shares at a price of C$48.60 per share, which is a 37.9 percent premium to Canopy's 5-day volume weighted average price of the common shares on the Toronto Stock Exchange ("VWAP"), and a 51.2 percent premium to the closing price on August 14, 2018. Constellation will also receive additional warrants of Canopy that, if exercised, would provide for at least an additional $4.5 billion CAD to Canopy Growth.
As a result of the new shares Constellation is acquiring, Canopy Growth will immediately upon closing have proceeds of approximately $5 billion CAD [$4 billion USD] to bolster its leadership position in the global cannabis industry. This investment, the largest to date in the cannabis space, will provide funds which Canopy Growth will deploy to strategically build and/or acquire key assets needed to establish global scale in the nearly 30 countries pursuing a federally permissible medical cannabis program, while also rapidly laying the global foundation needed for new recreational cannabis markets. Canopy Growth's Canadian platform does not require additional cannabis cultivation assets, and management views other jurisdictions, including the United States, as strategic priorities requiring significant capital.
Constellation Brands has, in effect, added cannabis to their product portfolio. I have a feeling that there were talks in other countries like the UK and Germany where Canopy Growth will be building / buying greenhouses for cannabis production which will then supply Europe. That market, assuming recreational legalization, will be worth more than $100 billion.
Canopy already has $1.4 billion of assets in Canada. There will be a lot of international merger and acquisitions activity from them in the next two years. Canopy is already the global market leader in cannabis. Now, they will be expanding their empire.
The largest province in Canada will go all-private for physical stores that sell cannabis. This is economically a good move because the private sector will move faster to fill demand. Also, this undercuts the bloated public sector and the labor unions that have become voting machines for the Liberals.
Recreational cannabis will be sold online in Ontario when legalized this fall and in private retail stores across the province early next year, the government announced Monday, reversing the previous administration's plan to distribute cannabis through publicly owned outlets.
[...] A government agency called the Ontario Cannabis Store will sell pot online once it is legalized on Oct. 17, and a "tightly regulated" private retail model will be in place by April 1, 2019. The OCS will also be the wholesaler to private retail stores, the government said.
Some people think that private retail means easy access for young teenagers:
"If privatization is meant that any store will be able to sell cannabis, then I would say that this is highly problematic given our experience with tobacco sales that are available 24 hours a day at every corner," he said.
Schwartz, who is also the executive director of the Ontario Tobacco Research Unit, said private companies have a "profit motive." Their goal is to sell as much as possible which could mean less adherence to regulations, such as ensuring customers are 19 and older, he said.
This logic is quite amusing. Let's say, for the sake of argument, that if the sale of cannabis was exclusively managed by the public sector, then there would be zero direct sales to underage customers. Note that each consumer can buy up to 30 grams of the product which is worth roughly $300.
What exactly is stopping a legal 19-years-old buyer from selling / sharing his marijuana with his 17 and 18 years old buddies? It's irrelevant how professional and angelic the sellers are. The young customers all across colleges and universities will be lighting up in October.
Anyone who thinks the CBC does not serve conservative-leaning Canadians should look at the comments for a recent online story about inheritance taxes.
The article was based on a report about the wide gulf between rich and poor issued by the left-leaning Canadian Centre for Policy Alternatives think-tank. The report suggested the lack of an inheritance tax in this country makes inequality worse.
This is a bizarre characterization of the network: The CBC is leaning Right because it allows comments by conservatives on a story which used a study by a Left-leaning think tank!?
Later, we get this info:
As the article reminds us, half off all Canadian families have net assets worth less than $300,000. Even the relatively well-off, with say, a paid-off home in Vancouver and a million dollar retirement nest egg, won't pass the $5-million threshold.
So why the backlash? According to research in the U.S. by scholar Dianna Muntz, the main cause of conservative anger that fired up working-class supporters of Donald Trump during the 2016 presidential election was status threat.
Canadians don't want a death tax because ... Trump? Oh, the best part:
When people feel threatened by change, he [Frank Graves] says, they don't necessarily look for logical solutions such as income redistribution from the very rich to people like them. Instead, the part of the collective personality that seeks strong leadership and order comes out.
(Laughs.) You see, stealing money from "the rich" to give to the poor is logical. It's reasonable. It's sensible. It's so progressive. Instead, White people oppose that and vote for fascists strong leaders like Donald Trump and Doug Ford who don't want to punish the rich. Apparently, those governments that do rob "the rich" are soft and sensitive.
It's heartening to see the gulf between these wicked Leftists and the average Canadian who must be horrified with how casually Frank Graves mentioned using the threat of force to seize money from those who have largely earned it. Remember these eeevil rich people have paid taxes on their income:
- Income tax
- Property tax
- Sales tax
These people have paid millions and millions of dollars in taxes over their life. Their money has been taxed multiple times. Now, on top of all that, the Leftists want to throw in a 40-50% death tax. Fuck off!
A networking group with the aim of supporting female leaders has been criticised for appointing a male chairman.
It's funny that with all the palaver about grrrl power, this silly collection of vaginas couldn't come up with a female leader. Obviously, they're a bunch of sexist pigs!
Abracadabra pic.twitter.com/tzwXGbCFay— Jack Posobiec❌ (@JackPosobiec) July 27, 2018
Trump has been doing a lot of things that in isolation don't seem that important:
- Tax cuts
- Accelerated depreciation of capital spending
- Telling Canada to cut it with their dairy tariffs
- Pressuring China to buy more from the United States
- Toying with the EU for a few more favorable trade terms
All of these combined provide a significant boost to the US economy. It also goes to show just how lame and uninterested the previous administration was in helping the economy and increasing employment.
News has leaked that the province of Ontario will make an announcement on Tuesday about allowing private retail of marijuana upon recreational legalization on October 17. The president of the Ontario Public Service Employees Union is a little vexed:
"What on earth are they smoking at Queen's Park?" Thomas asked. "This would be a bonanza for organized crime. They could legitimately get licences to distribute cannabis – and get very wealthy doing it. Does the Premier's definition of 'little guy' include mobsters and other criminals?"
Wow. It's like someone took candy from a baby.
[...] the LCBO has a proven track record of keeping alcohol away from vulnerable individuals. Staff get extensive and ongoing training on regulating sales – with a clear priority placed on safety and responsibility. "Each year, hundreds of thousands of customers are refused service. That means uncounted lives saved and tragedy averted," Thomas said. "That level of responsibility simply can't be enforced in thousands of private dispensaries."
This clown thinks that multi-billion dollar corporations will jeopardize their retail licenses and their global image by trying to make a few bucks by selling to underage customers. It's a good thing that this unhinged hack is kept away from this new industry.
In shocking news out of Deutschland, BfArM, the federal agency responsible for the management of the first tender cultivation bid, has issued a notice that it is ditching the first tender bid and will start from scratch.
It is also likely to be even more expensive. Not to mention require easy and quick access to European-based or at least easily confirmable pools of cash. It is conceivable that successful applications this time around will not only have to prove that they have a track record in a federally legal jurisdiction but will also have to be able to quickly access as much as 100 million euros.
The Big Three -- Canopy, Aurora, and Aphria -- from Canada can certainly raise that kind of money. We'll likely know the winners of this new process by next year.
The logic of slavery:
Remember babes, there’s nothing moral about work, and you are have basic human rights to food, water, shelter, and health care (among other things) whether or not you work. pic.twitter.com/b63rpFToE5— Avery Edison (@aedison) 13 July 2018
A person who refuses to work has the right to the fruits of labor from the rest of society! Why would farmers, construction workers, nurses, and doctors work for you for free?
Is it any wonder that socialism doesn't work?
Daily Mail: The tragic truth about cousin marriages: They can cause a litany of genetic illnesses and they're a key factor in the deaths of two children a week in Britain, so why is it taboo to talk about them, asks SUE REID.
Because in the Western world, standards are for White people. When Pakis Asians engage in destructive behavior, the prudent and progressive way is to simply ignore the whole thing.
In British Pakistani and Bangladeshi communities, marriage between cousins is designed to strengthen the family and keep wealth intact.
But there are massive health risks involved for the children of such couples. And when they are tragically born with disabilities, it is taxpayers who are left to pick up the huge costs of their NHS treatment, which can run into millions over a lifetime.
Just another benefit of diversity.
Thousands more children of consanguineous marriages survive, but with appalling physical or mental problems. These include blindness, deafness, blood ailments, heart or kidney failure, lung or liver problems and a myriad of often incurable and complex neurological or brain disorders.
When these mentally ill and low-IQ Muslims try and fail to keep a job in the modern world, it's because of BIGOTRY, RACISM and ISLAMOPHOBIA! It's easy to blame the infidels than to face the fact that they are fucked in the head thanks to their parents, culture, and religion.
The likelihood of a couple having the same variant gene is a hundred to one in the general population.
In cousin marriages, that can rise to one in eight because those who are related to each other are more likely to carry the same faults in their DNA.
Yet despite the dangers — and the huge cost to the NHS — according to the BBC, it is estimated that 55 per cent of couples of Pakistani heritage in the UK are in cousin marriages.
Obviously, a tiny minority.
Unfortunately, this scorching speed is not available in my neighborhood:
Two of Canada’s biggest internet providers have slashed prices by about 45 per cent in parts of the country for their most advanced offerings, but industry observers say such skirmishes are usually very local and short-lived.
Bell Canada is offering a gigabit-per-second home internet package with unlimited data for $79.95 in parts of Toronto, down from $149.95, until the end of July.
The prices at Bell are really odd. For example:
- Fibe 25: 25 Mbps, 350 GB monthly limit.
- Gigabit Fibe: 1,000 Mbps, Unlimited usage.
Those two Internet plans have the exact same price -- $79.95!
What happened was: 1. Globalization 2. Feminism 3. Mass Migration.— King Baeksu (@KingBaeksu) 4 July 2018
A perfect trifecta for the plutocrats. pic.twitter.com/DW02Rl8BRt
I had to re-read this headline to make sure I wasn't hallucinating: You Can Now Get Cineplex Movie Theatre Popcorn Delivered To Your House.
On top of popcorn, you can also get combos as well. The most popular item ordered during the pilot project was the 'Cineplex Movie Night In Combo' which features two medium popcorns, two medium candies and two medium drinks for $28.99.
- Medium popcorn for one (from a Costco pack) is $0.25.
- Assorted candies go for $1 each.
- A liter of pop is another $1.
Let's call it a generous $5 for a couple. Cineplex will deliver that for $29. That cold movie theater popcorn comes with a $24 premium. It would be cheaper to take a taxi for a round trip to your grocery store.
The small menu is so appealing and the place itself so charming that you almost forget, as a diner, that you have to do much of the work of dining out yourself. You scout your own table. You fetch and fill your own water glass. And if you’d like another glass of wine, you go back to the counter.
Soon, the restaurants will make you cook your own food. Hey, not everyone can afford the luxury of an Instant Pot at home!
On July 1, the minimum wage in San Francisco will hit US$15 an hour, following incremental raises from US$10.74 in 2014. The city also requires employers with at least 20 workers to pay health care costs beyond the mandates of the Affordable Care Act, in addition to paid sick leave and parental leave.
If customers won’t buy $20 burgers, or $25 dosas, and the staff in the kitchen can’t be cut, that something is service. “And that is what we did — we got rid of our servers,” Mitra said.
Higher minimum wage = more unemployed people. Also, San Francisco has the worst real estate market in North America. Many upscale restaurants can't get waiters for an average American wage.
A few blocks from the original Souvla, at celebrated modern French restaurant Jardinière, chef Traci Des Jardins said her labour costs, including taxes and health care, now eat up 43 per cent of her budget.
When she opened Jardinière in 1997, they were 27 per cent.
When the maternity ward was closed at the hospital in the Solleftea district of northern Sweden early last year, the nearest alternative was 100 kilometers (60 miles) away by road. So the local midwives decided to teach expectant parents a new skill: how to deliver a baby in a car.
“We have money,” said Hanna Hedvall, 45, who lives in Solleftea and worked as a midwife at the maternity facility for six and a half years. “We may not be able to have specialist care across the country, but here we are talking about rather simple things.”
Then on top of that:
Resentment has built over the influx of more than 600,000 immigrants over the past five years, many from war-ravaged countries like Afghanistan and Syria, a huge number for a country of 10 million people.
Yeah, the government in Sweden can't build enough hospitals but it has no problem handing out billions of dollars to unwanted rapefugees.
There are also soaring crime rates, gang violence, complaints about education and pregnant mothers even being turned away from maternity wards due to a lack of capacity. The number of people waiting longer than 90 days for an operation or specialist treatment has tripled over the past four years.
This is not a unique or surprising phenomenon limited to Sweden. Canadians are experiencing delays when it comes to important surgeries. Why? Government debt, limited hiring of new doctors, and increasing population. If you're in this situation, then save as much money as you can for a medical emergency. When the bad news comes, travel to a country where doctors and surgeons take cash. It'll be expensive but it's better than waiting in line and risking serious decay or death.
In addition to a minimum wage, this Leftist also supports a maximum wealth level:
So one man could eliminate world hunger and STILL have billions left over, while millions of children starve and lack basic medical care. By what twisted standard is that fair or just?— Peter Daou (@peterdaou) 23 June 2018
Extreme #inequality is an obscenity. There should be no such thing as a billionaire. https://t.co/o57sAC4J0P
Fuck off, Peter Daou. Your totalitarian impulse to control how much other people make doesn't make you a saint. Go out, make money, and help others with your own effort. Also, taking money with force from others doesn't mean that you are compassionate and generous. What you are is a rotten, stinking thief!
Also, isn't it funny that he limits wealth at a billion dollars when poor, starving kids around the world can't even make $1 a day. Shouldn't that wealth cap be at one million or, even better, at $50,000? Of course, that would make it difficult to pit the average idiot against the evil mega-rich.
Canopy Growth Corporation reported its fiscal fourth quarter revenue today: $22.8 million. Their previous quarter was $21.7 million. Those are some lackluster numbers. The good news will be in the future:
Total licensed footprint exceeding 2.4 million sq. ft.; 200,000 clones prepared and shipped from Ontario to jump start cultivation in million sq. ft. greenhouses in British Columbia.
Their inventory was approx. 23,000 kg at the end of March 31, 2018. Those 200,000 plants should yield roughly 20,000 kg of marijuana. Add a few more thousand from their current Smiths Falls and Niagara facilities and on October 17, Canopy should have 50,000 kg worth of product for sale. At a reasonable $4 per gram wholesale price, that's $200 million of revenue in one quarter.
Let's see how close Canopy gets.
In the conference call earlier today, one question was about the total kilogram production of Canopy in the near-future. Bruce Linton, the CEO, refused to provide an explicit number. This is in stark contrast to Aurora Cannabis who have repeated their astronomical 570,000 kg of (future) annual production in the media.
For Canopy, when they get to their full six million sq. ft. of capacity, the minimum annual production should be 400,000 kg. The maximum? 600,000 kg.
When Kathleen Wynne first announced plans to hike Ontario’s minimum wage to $15-an-hour, she argued the increase was necessary to create “fair workplaces and better jobs.”
[...] In Ontario, it was clearly politically profitable ahead of an election campaign for Wynne to champion millions of low-wage workers struggling to make ends meet, and paint Doug Ford –- then her chief rival –- as an enemy of the working poor.
That worked out well for the Liberals.
After Wynne hiked the minimum wage 21% in Jan 2017 (from $11.60-an-hour to $14-an-hour) employers — particularly smaller ones on tight profit margins — reacted by cutting jobs, cutting hours, cutting benefits, increasing automation and/or raising prices.
That's the insidious nature of minimum wage. Some of the very poor workers lose their jobs and they have great trouble finding work in an environment where many other employers are also cutting hours or firing workers.
What does help low-income families, Fraser suggests, are subsidies and cash transfers. Employers don’t care if employees pay less tax and get subsidies. They don’t react by cutting jobs, or hours or investment.
The report said an average commuter in Toronto spends 14 minutes waiting for a bus or a train each day. But even worse, the average person spends a staggering one hour and 36 minutes for their daily commute with an average journey distance of 10 kilometres.
If the average guy works 23 years in this case, then he would have destroyed a full year of his life in traffic. For too many people, it's worse.
I had to attend a conference in Toronto many years ago. I went with a colleague who drove his car. He wanted to leave at least two hours before the start of the event and so we did. We got to Toronto in about one hour. I thought to myself, "That wasn't so bad."
Then, it took us an additional hour to travel within Toronto to get to our destination. Obviously, my co-worker was fully aware of the atrocious traffic. So, we burned four hours in our commute.
Canada is the second largest country in the world. Of course, most of the land -- let's say 90% -- is not fit for habitation. Still, this means that the livable area in Canada is larger than Germany and France combined. So, why does Canada have crazy real estate prices in spectacularly tiny cities like Vancouver and Toronto? Why is Tokyo -- a city metro that can hold the entire Canadian population -- cheaper than the crazy cities of Canada? What's stopping people from building more houses in the stunningly empty parts of British Columbia and Ontario?
Government regulation is the likely culprit.
Just two years ago, the median American born in the 1980s — the cradle of millennials — had family wealth that was 34 per cent below what earlier generations held at the same age, the Federal Reserve Bank of St. Louis reported last month. And all the data show it’s probably going to get worse.
As affluent baby boomers thank years of soaring markets for their paid-off mortgages and plump portfolios, millennials and the next cohort, Generation Z, are weighed down by student debt and stagnant wages. They can only contribute the bare minimum to their retirement plans and struggle to find affordable homes within commuting distance of their jobs.
- Lower wages thanks to more women entering the workforce and immigration.
- The Great Ponzi Scheme aka Social Security reaching its end.
- Sky high tuition fees for useless degrees.
- Overall higher taxes.
But on top of all that, the Millennials and Generation Zyklon will have to deal with The Great War. What will that look like? The breakup of the once United States. The purge of Muslims and other morons from Europe. China flexing its muscles as the new superpower by taking resource-rich areas in Africa.
What can Millennials do?
- Read history. You can learn a lot about the future by observing the past.
- Scorching savings rate. Stop buying shit.
- Ammo is your friend. Learn to shoot.
- Stick with family and friends.
- Get a dog. Or two.
Prime Minister Justin Trudeau says recreational marijuana will become legal in Canada on Oct. 17.
[...] "We heard from provinces and territories who told us they needed more time to transition to this new framework, so our government will continue to work in full partnership with them, to ensure the smooth and orderly implementation of this new law across Canada," Trudeau told reporters during an end-of-session news conference.
I bet the province of New Brunswick is not happy. They got to work on legalization years ago. They signed a marijuana supply deal in September of 2017. Almost ten months later, many of the big provinces still haven't bothered with any supply agreements. This obviously created uncertainty for many firms who can't be expected to harvest and stockpile millions of dollars of product without some understanding from the big potential buyers (the provinces).
New Brunswick has their stores ready for July while Ontario and British Columbia have been sitting on their asses. Let's see what they can do in the next four months.
Senators have voted to pass the federal government's bill legalizing recreational marijuana by a vote of 52 to 29, with two abstentions, paving the way for a fully legal cannabis market within eight to 12 weeks.
"I'm feeling just great," said Sen. Tony Dean, who sponsored the bill in the Senate. "We've just witnessed a historic vote for Canada. The end of 90 years of prohibition. Transformative social policy, I think. A brave move on the part of the government."
Retail sales will start in early September. The federal government will announce the exact date soon.
Bill C-45 would make the giving or selling of cannabis to any person under the age of 18 a new criminal offence punishable by up to 14 years in jail, a sentence in line with facilitating a terrorist activity, threatening to commit a nuclear offence, bribing a judge, child luring, recklessly discharging a firearm, aggravated assault, torture and human trafficking.
14 years for threatening to commit a terrorist act? That's funny considering that dozens of ISIS terrorists have returned to Canada and their punishment has been zilch. Apparently, in Trudeau's Canada, sharing a joint with a minor will be more harshly punished than beheading infidels and raping girls.
Such terror-related laws have no meaning when the authorities simply ignore them. Likely the same will happen with this ridiculous 14-year nonsense for sharing a joint.
Visible minorities in Canada are already disproportionately arrested, charged and prosecuted for pot, and Spratt said there’s no reason we should expect that to change with legalization. (Nowhere is the white privilege more apparent than in the war on drugs, the McGill conference heard repeatedly.)
Just like the female privilege when it comes to crime in general?
Leamington-based marijuana producer Aphria Inc. is boosting production and building a $55-million extraction centre, as part of a $225 million expansion plan, to better serve a rapidly expanding market for marijuana edibles and alternative products like patches, dissolving strips, sprays and infused beverages.
In addition, Aphria could issue a further 2.84 million shares.
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,848,110 Common Shares at the Offering Price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the Offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$258,750,794.
So, nearly $259 million! That was the largest raise for any marijuana firm in history.
The Company will issue C$500 million aggregate principal amount of the notes. Canopy Growth has granted the initial purchasers of the notes an option to purchase up to an additional C$100 million aggregate principal amount of notes. The offering was upsized from the previously announced C$400 million aggregate principal amount.
That's $600 million today from a possible future 5% dilution. Absolutely staggering.
Bruce Linton, the CEO of the first and so far only marijuana company on the NYSE, spoke in New York on June 1.
The NYSE behaved in a very gutless manner when they didn't allow Linton to ring the bell on Wall Street. They have no qualms about taking hundreds of thousands of dollars annually from Canopy for the listing but they don't want to be too closely associated with a marijuana firm!?
Anyway, CGC will survive. The best part was the Q&A at the end. Linton's answer to the very last question was quite revealing. He didn't shy away from telling us about the numerous failures his company experienced in the beginning. That was refreshing since many other CEOs only talk about rainbows, gold, and unicorns. As long as Canopy seriously learns from its mistakes and continues to be geographically diversified, it'll most likely succeed.
Drivers love to complain about the price of gas, but when it comes to taking action they are not willing to join forces.
A gas price protest scheduled for Wednesday morning sputtered to a stop when one solitary protester showed up.
The contrast between the grinning cops and the body language of the protester is absolutely hilarious.
Montreal police had even stationed half a dozen officers in patrol cars at the mall, ready to supervise the protesters on their planned slow-moving route.
Looks like Manitoba is quickly becoming a hotbed for wireless competition. The reason for the ramp-up in activity could be the recent Bell/Mts merger, or the pending launch of Xplornet’s wireless service.
Late last week, Rogers unveiled a $70/20GB and $80/30GB Manitoba-only Share Everything plan promo plans for new and existing customers.
I checked out the plans offered by Rogers.
Manitoba: Unlimited Canada wide calling + 30GB of data. Price: $90 per month.
Ontario: Unlimited Canada wide calling + 12GB of data. Price: $145 per month.
Customers in Ontario are getting 40% of the data while paying 61% more!
Forget paying for it, I wouldn't watch it if it was free:
They're expecting Soylo: A Soy Wars Soyry to earn the least money of any Disney Soy-based entertainment.
The industry had been expecting, I thin, a $170 million domestic haul over the four-day Memorial Day Weekend (five, really, given that it opened Thursday night), but that had then be reduced to $150 million, and then to $130-$150 million, and then reduced again to $120 million.
The Chinese are really not interested in watching shit:
Soy Wars has not been popular in China. But Soylo just bombed worst than most in its opening night in China -- only $120,000 for midnight screenings in all of China, a nation of a billion and a half, according to a Chinese film industry analyst.
Kathleen Kennedy really has no idea what she's doing. She spent most of her career as an assistant to Steven Spielberg. Now in charge, the only idea she has is to make every 90 pound girl a UFC champion-level badass and make random characters gay (or "pansexual").
Aurora and MedReleaf have agreed to amend the Original Agreement to include, in the consideration payable to holders of MedReleaf's common shares, (each a "MedReleaf Share"), $0.000001 in cash for each MedReleaf Share. As a result, the consideration under the arrangement has been increased from 3.575 Aurora common shares for each MedReleaf Share to 3.575 Aurora common shares and $0.000001 in cash for each MedReleaf Share.
All the shareholders of MedReleaf combined will get ... $100 in cash. Why are they making such a comical change?
Taxable Canadian resident MedReleaf shareholders will be entitled to elect to receive tax-deferred roll-over treatment in connection with the acquisition by Aurora of their MedReleaf Shares.
Yup. Tax reasons. It's funny that Aurora wasn't aware of this a few weeks ago.
Elon Musk has repeatedly mentioned the $35,000 price for his Model 3. The problem? Tesla can't make money with such a "low" price. In fact, last year Tesla lost $225,000 per hour.
Musk unveiled specifications for a faster and more powerful version of the Model 3 in a series of tweets over the weekend. It will cost US$78,000, more than double the US$35,000 base-model starting price discussed into the run-up before the electric car’s deliveries started last year. And that doesn’t include the Autopilot driver-assist feature.
Losing $2 billion in a year does focus the mind. Anyway, I don't know even one person who would buy a Model 3 at $35,000. The masses will have to wait for their electric nirvana.
“A Model 3 with a US$35,000 price will be the rarest of the rare,” said Kevin Tynan, a Bloomberg Intelligence analyst. “Perhaps the second most collectible Tesla ever, behind the one floating around in space.”
Canopy Growth Corporation (TSX: WEED) ("Canopy Growth" or the "Company") is pleased to announce that it expects its common shares will begin trading under the ticker symbol "CGC" on the New York Stock Exchange (the "NYSE") tomorrow, May 24, 2018.
This listing follows a history of firsts for the Company including being the first publicly traded, federally regulated cannabis company in North America, and the first to be included in the S&P/TSX Composite index.
That's funny. The NYSE is two hundred years old and the first cannabis company to ever publicly trade on it is not even American!
Anyway, the real test for Canopy will come when the US legalizes marijuana. Shrewd Trump will eventually do it and then take credit for the mega multi-billion dollar industry.
You need to buy a copy of @davidgraeber's "Bul***t Jobs", about jobs that, if they didn't exist, wouldn't have to be invented.— Nassim Nicholas Taleb (@nntaleb) 20 May 2018
But there are b***t professions that can be eliminated w/o harm (& w/gains)
Which is the most "b***t" profession?
Starbucks announced a new policy Saturday that allows anyone to sit in its cafes or use its restrooms, even if they don’t buy anything.