Too Big To Fail

More power for the government:

Those big banks will also be easier to control.

Oh, you oppose the current awesome leftist politician in power?

Your loan is denied. Your money is frozen. Eventually, your accounts are canceled because you're a VERY BAD MAN!

Of course, the NPCs will all squawk: Hey, if you wanted to keep your accounts, then you should have kept your fucking mouth shut!

Banksters Gone Wild

Vox Day on no-limit deposit guarantee:

Now the protection level has been made de facto limitless, which means that the next series of failures will threaten the collapse of the entire system. This is the fundamental problem with centralization, as it removes the protective limits of decentralization in a foolish, and inevitably futile, attempt to avoid the consequences of limited failure.

Yup. Banks have zero incentive to be prudent going forwards. They'll take even more risks. If they succeed, then they'll get praise and wealth via high stock prices. If they fail, then they'll keep their bonuses and the Fed will bail them out.


More people will die thanks to DIE:

It's just a matter of time. A passenger jet will fall out of the sky and kill hundreds because the pilot was hired on the basis of diversity. In addition to paying out millions, the owners should go to jail.

Interesting times

High inflation, lower real wages, the upcoming spike in taxes, and the probability that we're in the beginning of WWIII all point towards this reality.

More pain in 2023

Looks like the stock market is going to tank more as the average bloke sells whatever stocks he has to make his mortgage payments.

Update: Yup.

The Boomer is oblivious

The average annual income in my city is $40,000. After tax, that's $35,000.

The average house price is $750,000. Assuming that the average guy saves up $100,000 and then gets a $650,000 mortgage today, his monthly payment will be $4,000! Yeah, the mortgage is 137% of his monthly income.

A very bad idea

And what happens when the stock price tanks? Amazon is already down ~50% from its all-time high. Amazon was down 90% after the dot com crash.

Will low wage employees of Amazon have to put up additional collateral or extra cash in a future downturn to keep their house? Combine that with inflation and high interest rates and you've got severe financial fragility.

Is this transitory?

Someone I know got a very sad McDonald's chicken burger combo late last year. Price? $15! That's now the baseline here in Canada. A dinner date at a restaurant can easily top $100.

The bizarre thing is that one doesn't even have to cook at home to save money. Rotisserie chicken at my local grocery store is often on sale for $8 and it tastes much better than expensive and atrocious fast food.

No skin in the game

Two thoughts came to my mind as soon as I read about the earthquake that hit Turkey:

  1. Over 10,000 dead.
  2. We'll see who was corrupt and constructed shoddy buildings.

Life in jail at the very least:

This will leave you deflated

Brent Eldridge had heard that prices for natural gas were high this winter, but nothing prepared him for how bad it could be.

So dramatic. What was it? 50%? 75%? 100%?

When he opened the envelope from Long Beach's utility department, he couldn't believe the total: $907.13, nearly eight times higher than his bill at the same time last year.

Okay, that's bad. Almost 700% increase in the gas bill in just one year.

D.I.E in action

Diversity = Fuck White People.

The sad part is that significant numbers of Whites support such atrocious politicians.

Know your place, peasants

Americans are refusing to work weekends and are demanding pay raises en masse - emboldened by empowering self-help videos on TikTok and time spent at home during the pandemic.

The revelations, aired in a recent report by The Wall Street Journal, depict a rapidly changing corporate climate where staffers are more actively drawing a line between their work and personal lives.

I remember a meeting at my workplace during which a single, childless, super-dedicated employee was showcasing our new website and forum and then describing how she answers customer questions at 9 or 10 p.m. from home!

The rest of us said, "NOPE!"

Anyway, this part is quite precious:

Some firms fed-up of staffers' demands say they've begun outsourcing roles to India and Canada as a result, raising the specter of a jobs crisis should the long-predicted recession be a deep one.

Begun!?! They've been doing that for decades.

This lack of passion, ZED Digital President Sumithra Jagannath said, has forced her to outsource about 20 remote engineering and marketing roles to Canada and India, where she said it’s easier to find workers willing to go above and beyond. [...]

She added that since the start of the pandemic, an increasing amount of employees have asked for more pay when asked by their managers to do more work - which she remarked, for her, is a first.

More pay for more work! Isn't that something.

An Indian boss outsources jobs to other Indians because they accept lower wages have more passion! My dad, from Pakistan, who worked in Saudi Arabia also had this tremendous passion! He would often be appointed work during the weekend while getting exactly half the salary of his Arab colleagues. Of course, the Arabs would have the weekend off.

War for profit

The US attacked Germany. Their politicians are such impressive puppets that they didn't even offer any harsh words in retaliation.

Mexico vs. Canada

Just checked rent for a one bedroom apartment in my building. $1,550 a month. You'll have to fill out an application and fulfill the requirements to have the privilege of renting. When I applied, they wanted to see a minimum five-year job history in Canada or a guarantor. So, if you don't have rich parents or a stable income stream of five years, then tough.

A new insidious tax

Not content with making Elon Musk leave, the state of California is coming after all billionaires:

California lawmakers appear intent on making the Eagles song Hotel California a reality … at least when it comes to taxes for those who try to flee the state. At the Hotel California, “you can check-out any time you like, but you can never leave!” With soaring costs and a massive $24 billion deficit, the state is also facing an exodus of people leaving the state. The solution? Convert the state into a tax Venus flytrap: not only impose a wealth tax on those caught in the state but tax those who try to leave.

That's the nature of taxation. Market it as ONLY for the greedy, asshole, super rich and then in due time decrease the floor.

The law has a cynical bait-and-switch provision. The billionaire tax is just meant for the initial packaging and passage. It can therefore be sold as a “billionaire’s tax.” However, in two years, the threshold drops to a worldwide net worth exceeding $50 million.

This shouldn't be a surprise to anyone. The same thing happened with the income tax over a hundred years ago. The wealth tax will soon apply to average people with a "big" house that retails for over a million. A meagre, and of course "totally reasonable", 2% wealth tax on that property would mean an extra $20,000+ in taxes every year for the average doctor, engineer, professor, etc.

Diminished purchasing power

Reminds me of a conversation with my puzzled barber many years ago.

"I think you're a smart guy. So, I don't get it. Why don't you have a house?"

I looked at the Boomer Barber with mild amusement and asked, "What was the price of your house when you bought it?"


"Do you remember your annual income at the time?"

"Hmm, about $20,000."

"What was your mortgage payment?"

"Oh, my dad gave me a gift and I borrowed money from a relative."

"How long did it take to pay off this loan?"

"About two years."

So, sometime, in the 1970s, a barber in Canada, with zero college degrees and a single income, and a family loan, bought a house and had it all paid off in two years.

During that haircut, my post-university-degree income was about $50,000 and the average price of a house was close to $1,000,000. Alas, no monetary gift from dad or a family loan. Forget two, it's not even possible in twenty years! It's so bizarre when these people can't see or recognize this basic math.

The relentless grind

Same in Canada. The average mortgage payment is now greater than the average income in Toronto.

There was a couple who wrote about how their bank refused to loan them money for a house because their combined income was too low. They make $200,000. That's US$150,000. People used to say that both people in a household need to work because prices are so high. We've reached the point where both people do work and make more money than 98% of households in their province and they still can't get a loan for a house!

Why won't you just die!

I missed this from 2021:

McDonald's will soon be serving its customers a friendly reminder to get their COVID-19 vaccine. The fast food chain has partnered with the Biden administration on its “We Can Do This” campaign to help share vaccine information with its customers across the country and the restaurant plans to spread the word in multiple ways over the coming months.

If the fries and soda won't kill you, then the vaxx will!

The insidious tax of inflation

Yup. Here, in Ontario, Canada, any income over ~$100,000 is taxed at a marginal rate of ~44%. That's provincial and federal combined. If you own a property, then the municipal taxes are extra! So, basically, to keep level with a heavily massaged inflation rate of 10%, one will need a wage boost of 15%. That's not happening when companies are limiting bonuses and firing workers.

Cuck Face gonna cuck

What Prime Minister Trudeau has done over the past few years:

  • Implemented vaccine passports which meant that the unvaccinated couldn't: travel via air plane or train, watch a movie in a cinema, visit a museum, attend a concert, eat in a restaurant, work in a school or federal government, etc.
  • Freezing the bank accounts of those who dared to stand against Trudeau and his tyranny.
  • Increased immigration levels to the point that Canada is admitting half a million people a year. This puts downward pressure on wages and makes the housing situation worse to the point that a couple that makes $200,000 together can't afford an average house in and around the biggest city in Canada.
  • "Go kill yourself!" The government has no money and the health care system is broken. It can take over a year to see a specialist for a major health concern. The compassionate liberal government has decided that a simple suicide is a win-win! The government saves money and you don't waste any more oxygen!

One would think that the main opposition party would have something concrete to say about the above.

“These flags and the hyper-aggressive rhetoric that often accompanies them are slowly normalizing rage and damaging our democracy,” O’Toole wrote in a year-end blog post outlining his wishes for the New Year.

Yeah. That's the concern of the biggest Cuck Face of Canada.Cuck Face

Please, be kind to the politician who is destroying your life and your country.

Big Mac index

A sad-looking chicken burger combo at my local McDonald's costs ... $15!

I can buy a fully cooked chicken at my local grocery store for $15. It often goes on sale for half price. That's three big meals for $7.5. Just pre-heat and done!

Welcome to Canada

A knew a few people at my workplace who were landlords. They got mortgages, bought a second property, and rented it out. There's risk because of rising interest rates. Also, you can end up with non-paying tenants. Your expenses explode at the worst time:

Just last year, Marco had two houses to his name, but for months has been sleeping in his car — all because his tenants, whom he's been unable to evict, haven't paid their rent.

Marco, 33, lost his marital home in a separation agreement in January. He still owns an income property — a two-suite house in Collingwood, Ont. — but says his upstairs tenant hasn't paid up since June; the one downstairs hasn't since February.

"I'm covering all housing expenses, the mortgage and property taxes and can't afford to rent in the terrible financial situation I'm in," he said. "I'm drowning in debt."

A matter of economics

Elon Musk has often stated that his goal is "to accelerate the advent of sustainable transport". The big problem for him is that it's, at present, economically unfeasible:

Switzerland may become the first country to limit the use of electric vehicles (EVs) in a bid to ensure energy security this winter, German daily Der Spiegel reported on Thursday.

Under the proposed action plan, which is yet to be adopted, the use of EVs in the country could be banned except in cases of “absolutely necessary journeys.” The government also plans a stricter speed limit on the highways.

Tesla, and other EV makers, would have little problem selling their cars to the masses if the price of oil kept going up and electricity remained relatively cheap. More and more people would opt for the EVs because of simple economics. Unfortunately, in the past 15 years, the price of oil has decreased from a staggering peak of $190 to $80 while electricity has tripled in price (in Canada). The situation is much worse in Europe. In Italy, it's now shockingly more expensive to juice up an EV vs. filling up a normal car with petrol.

There will always be a niche market for EVs. They're relatively low maintenance and the speed and torque for in-city driving is superb. However, given the economics, the average guy won't be able to afford one in the near-future. The above average fellows can have a fun EV and a regular vehicle for covering larger distances.

No savings in the end

A dumb move by the Canadian government:

Freeland abruptly decided last month to cease issuance of real return bonds, a useful inflation hedge for pension funds and other investors with long-term liabilities. Among the reasons stated for the decision was the bonds are illiquid and in low demand. Keohane said the securities rarely trade because institutional investors value them too much to give them up.

Also, the part about "low demand" is false.

Furthermore, because these long-term holders don’t trade the bonds, the only way to buy them is when the government issues them. And whenever that happens, they are snapped up.

[...] the decision to eliminate new real return bond issuance deprived market participants of a way to express their inflation views, with some members indicating the decision “may create a perception that the government may not have full confidence in containing inflation,” the group said.

[...] several members said demand for the real return bonds has increased in the current higher inflationary environment and is expected to increase further with the aging of the Canadian population, according to the minutes. They also pointed to the fact that Canada is now the only G7 country not issuing new sovereign inflation index-linked bonds.

The Canadian government is aware that higher-than-normal inflation will persistent for some time. So, of course, they are not interested in paying a rate of return that's adjusted for inflation.

In the end, this will backfire. Capital has a global reach. If Canada refuses to offer real return bonds, then people and institutions can simply go elsewhere. Eventually, the vanilla bonds will have to offer higher rates to entice buyers.

The Crazy North

In 2000, the average house in the biggest city of Canada went for $250,000. A basic couple working together and making $100,000 a year could definitely get a mortgage and own that home after a couple of decades of reasonable payments.

Today, the average house in Toronto sells for almost $1.5 million! A couple who makes $200,000 can't even qualify for a mortgage for that house!


The average person is squeezed:

New figures show grocery inflation in Canada surged again in November as the price of basics like bread, eggs and dairy products shot up. Statistics Canada says prices for food purchased from stores rose 11.4 per cent last month compared with a year ago, up from an 11 per cent gain in October.

The agency says prices for groceries have now risen at a faster pace than overall inflation for 12 months in a row.

Starting from early 2020 to late 2022, food prices in Ontario, Canada have increased by approximately 75%. It's likely that from 2020-2023, prices for food would have doubled in Canada. Add to that the higher oil prices and an insane real estate market. The younger generations are truly getting crushed. The middle class is shrinking. Soon, it'll be the rich and the not-rich.

Most don't get it

This relates to the Tax Free Savings Account (TFSA*) saga in 2015 in Canada. The nominally right-wing government increased the contribution room from $5,500 to $10,000 for the TFSA. The liberal opposition was successful in portraying this policy as a benefit for the rich! 

Think about it. Who benefits more from an extra $4,500 in tax-free investment growth every year? A rich guy worth tens of millions of dollars or a middle class man saving for the future? Yet, the normal Canadian idiot bought this stupid logic.

An example: A 20-year-old who just starts working and saving doesn't use the TFSA for a decade. If the contribution room was $10,000 per year, then he would have a combined $100,000 available to invest tax-free at the age of 30! If he got an inheritance, then he could invest it and shield decades of returns from taxes.

Sadly, the liberals brought the limit down back to $5,500 in 2016.

* The name is just horrible. It should have been called the Tax Free Investment Account.

Liberal abortion

Policies and procedures do make sense. It's important to be proper when one is murdering children.

So dark

MAID service in the North:

As Canada's MAID (Medical Assistance In Dying) system continues to alleviate the pain of patients and the financial strain on the nation's healthcare system, a recent innovation is expected to further improve results: Parliament just announced a punch card that allows patients to receive a free suicide after 10 doctor visits.

The next part made me laugh:

Critics have contended that the new approach preys on disabled and impoverished Canadians who may see assisted suicide as their only option, but the criticism has already been quieted since Canadian Prime Minister Justin Trudeau froze the bank accounts of anyone who spoke out against his regime's policies in the comments section of the healthcare website's blog, or on Twitter, or elsewhere.

It's funny because it's true

Fried Bankman is not so useful anymore:

"Authorities have raided one of Mr. Bankman-Fried's mansions searching for evidence of money left to line our pockets, as $39 million was just not enough." said a spokesperson for the Democratic National Committee. "As we speak, agents are holding the suspect upside down and shaking him in hopes that a few crypto coins might fall out."

Learn to code

Cerno tried: