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Since we're on the topic of Norway, what the hell is going on in Switzerland? The SMI Index is down 11.6% in the first 3h of trading. First blood in the oil crisis (I have no idea - no stories breaking so far)?
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Jan 15, 2015 13:02
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Arabian Jesus posted:What is Germany doing differently than say Canada or Australia? It's actually feasible to rent there for an entire lifetime, for one.
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Jan 15, 2015 13:08
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Aagar posted:Since we're on the topic of Norway, what the hell is going on in Switzerland? The SMI Index is down 11.6% in the first 3h of trading. They abolished the peg linking the swiss franc to the euro.
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Jan 15, 2015 13:09
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A friend of mine told me the Japanese situation is completely bizarre and counterintuitive compared to Canadian and American experience. After their asset price bubble in the 1990s apparently housing over there is almost always a depreciating asset. So buying a house there is like buying a car and you demolish your house and rebuild every 10 years?
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Jan 15, 2015 14:17
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Jumpingmanjim posted:Australia Wins Gold at the house price olympics: As an American, reading this thread is like watching a re-run of my favorite sitcom from 10 years ago. It's really fun! Props to Australia for not giving one single gently caress and mashing that accelerator through the floor though. Get your poo poo together Canada, you guys are way behind the Aussies.
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Jan 15, 2015 14:29
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District Selectman posted:As an American, reading this thread is like watching a re-run of my favorite sitcom from 10 years ago. It's really fun! As an American who lives in Canada, I wish I didn't have to live through it twice. edit: On the plus side, I know better than to listen to the bubble deniers.
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Jan 15, 2015 14:31
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Target just announced it is closing all 133 Canadian stores despite our strong stable economy.
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Jan 15, 2015 14:31
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2 + 2 = 5 posted:Target just announced it is closing all 133 Canadian stores despite our strong stable economy. http://mobile.bloomberg.com/news/2015-01-15/target-will-abandon-canada-after-racking-up-billions-in-losses.html
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Jan 15, 2015 14:34
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2 + 2 = 5 posted:Target just announced it is closing all 133 Canadian stores despite our strong stable economy. All of the money I spend at Target is in the U.S., anyway. Probably because Target only bothered copying its store layouts from the U.S., but the actual appeal of the U.S. Target (relative to Canadian retail) is in the service, product selection, and lack of a 30% markup due to
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Jan 15, 2015 14:39
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Goodbye clean, even more poorly stocked Zellers.
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Jan 15, 2015 14:44
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Target has approximately 18000 employees in Canada, they are getting 16 weeks severance pay.
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Jan 15, 2015 14:57
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I wonder if HBC will buy back all the newly renovated stores for pennies on the dollar. Or maybe we can complete this 25 year cycle with Kmart coming back to Canada. Most likely though we're all going to be sucking the Walton's cocks until the revolution comes.
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Jan 15, 2015 15:09
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2 + 2 = 5 posted:Target has approximately 18000 employees in Canada, they are getting 16 weeks severance pay. 
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Jan 15, 2015 15:13
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2 + 2 = 5 posted:Target just announced it is closing all 133 Canadian stores despite our strong stable economy. I worked at Zellers head office for years. 
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Jan 15, 2015 15:14
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Jesus, they just built a brand new retail development here where our old stadium used to be, with a huge standalone Target being the anchor store, which just opened two months ago. It seemed like such an insane idea, and as far as I know there have been no other takers for any of the other units in the plaza.
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Jan 15, 2015 15:15
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Coxswain Balls posted:Jesus, they just built a brand new retail development here where our old stadium used to be, with a huge standalone Target being the anchor store, which just opened two months ago. It seemed like such an insane idea, and as far as I know there have been no other takers for any of the other units in the plaza. You mean the one at Polo? We actually managed to buy everything we had on our shopping list last time we went there.
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Jan 15, 2015 15:20
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Coxswain Balls posted:Jesus, they just built a brand new retail development here where our old stadium used to be, with a huge standalone Target being the anchor store, which just opened two months ago. It seemed like such an insane idea, and as far as I know there have been no other takers for any of the other units in the plaza. There was a mall here that jacked the rents of every other tenant in the building once Target came in, claiming it would be a massive anchor and double traffic. Talking to a few of the tenants about it, they've said that their sales have actually dropped YoY since Target came to the mall. If there's one good thing out of all this, I bet there's going to be a lot of new mall management positions for these ex-Target employees.
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Jan 15, 2015 15:45
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Lol 18k jobs down the drain.  How many of them do you think have a new condo or a new BMW to pay off namaste friends fucked around with this message at 16:36 on Jan 15, 2015 |
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Jan 15, 2015 16:26
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What we need now more then ever is another Strong Stable Conservative majority government to navigate the treacherous economic seas that God Emperor Stephen Harper, the First of his Name, steered us through in 2008. Vote Conservative 2015
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Jan 15, 2015 16:52
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eXXon posted:How bad are things going to get in Norway that they'll burn through $860B in 3 years of $45/bbl oil prices, exactly? Bonus question: what does this have to do with the Canadian housing bubble anymore? Yeah, the thread kinda took off in to oil/commodities, but there isn't a thread on the burst of commodities prices and it does seem like it'll be the trigger for something in Canada (and Australia). My understanding is that a lot of the commodity price plunges are intertwined with revisions downwards to the expected rate of Chinese growth, or something, and since Canada (and Australia) have been largely growing on the growth of commodities exports to China there's going to be some interesting poo poo going on in the future.
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Jan 15, 2015 17:55
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2 + 2 = 5 posted:Target just announced it is closing all 133 Canadian stores despite our strong stable economy. To be fair Target completely mismanaged their foray in Canada. They were plagued with supply chain issues which meant they often didn't have the products on the shelves that make them so popular in the US - they also didn't get their prices right - they were consistently more expensive than people expect Target to be. They also took over Zellers retail space, which was often in the crappiest strip mall locations in not so great neighbourhoods the sort of people who would shop at Target don't frequent. Zellers clientèle also didn't like Target prices. In this case I think they hosed up - it's not so much the economy here. Cultural Imperial posted:Lol 18k jobs down the drain. Since the vast majority of them would be minimum wage type jobs, not many of them. Core management will retreat with the company to the US, for the most part, assuming they also don't get fired for loving the whole Canada thing up. Mederlock posted:What we need now more then ever is another Strong Stable Conservative majority government to navigate the treacherous economic seas that God Emperor Stephen Harper, the First of his Name, steered us through in 2008. Vote Conservative 2015 I really dislike Harper but if he can somehow deliver on the $10,000 TFSA contribution limit promise I am going to vote for him post haste. Saltin fucked around with this message at 18:06 on Jan 15, 2015 |
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Jan 15, 2015 18:01
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Saltin posted:I really dislike Harper but if he can somehow deliver on the $10,000 TFSA contribution limit promise I am going to vote for him post haste. Because we really need more economic inequality.
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Jan 15, 2015 18:13
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Economic happiness is almost entirely relative, so making sure there's a poor slave-like underclass can actually make everyone else feel richer without earning more!
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Jan 15, 2015 18:19
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Yeah because what Canadians as a whole really need is an increase on a tax break system that I doubt even 25% (if that) of the population are even maxing out already.
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Jan 15, 2015 18:19
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Coylter posted:Because we really need more economic inequality. I'm not trying to hide anything - it's completely selfish. I would like to retire some day. Mederlock posted:Yeah because what Canadians as a whole really need is an increase on a tax break system that I doubt even 25% (if that) of the population are even maxing out already. With or without the TFSA, Canadians don't save. Some don't have the cash to, some just don't have the right priorities. I know loads of people with fancy houses and cars that don't have a loving penny saved, TFSA or otherwise. It's sort of what this thread is about isn't it? Saltin fucked around with this message at 18:28 on Jan 15, 2015 |
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Jan 15, 2015 18:23
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^ I love the TFSA increase idea as an investor and rational agent, but it's bad policy IMO. It's a massive tax shelter that's not needed by the only people who use it.
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Jan 15, 2015 18:58
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Yeah, as someone with constantly maxed out TFSA's I think the tax cut is stupid. Anyone who can squirrel that amount of money doesn't need a tax cut. I make $16.50 an hour and I don't need a tax cut, what I need is better government services and infrastructure investment.
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Jan 15, 2015 19:05
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Baronjutter posted:Yeah, as someone with constantly maxed out TFSA's I think the tax cut is stupid. Anyone who can squirrel that amount of money doesn't need a tax cut. I make $16.50 an hour and I don't need a tax cut, what I need is better government services and infrastructure investment. You sound like a good example of what I was talking about in my last post. You are able to max out at $16.50/hour (I'm not sure how many hours you work, but you're not a 1%'r at any rate, I suspect), and lo you are able to squirrel away $5500 a year because your priorities enable it. Good work. Most People can take advantage of the TFSA, but a lot of people can't do it and have all the things they want, and the things they want win over. I concede that most people cannot take advantage of 10k/year.
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Jan 15, 2015 19:14
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I don't understand how 10k is going to help you retire.
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Jan 15, 2015 19:15
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Cultural Imperial posted:I don't understand how 10k is going to help you retire. It's a massive improvement over the huge hole of debt most people will be retiring with.
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Jan 15, 2015 19:21
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Cultural Imperial posted:I don't understand how 10k is going to help you retire. Compounding tax free interest/growth is the most powerful force in the universe. If you’re 30, have $15,000 in a TFSA now and next year start adding in the maximum allowable $10,000 annually, which is about two hundred bucks a week, by age 65 and assuming a 7% return (in line with the last thirty years of financial markets), that would be $1,542,517. That's enough to retire. Even if the limit stayed at 5500, it's a great loving start.
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Jan 15, 2015 19:23
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Starting with 10k, adding 10k per year, compounding at 5%over 30 years you end up with 750k. You can't retire on that?? Edit; and if you factor in inflation what's your PPP? Edir2: I wonder how many Canadians put away 10-15k per year and what their incomes are namaste friends fucked around with this message at 19:33 on Jan 15, 2015 |
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Jan 15, 2015 19:25
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Most Canadians don't save, that should be obvious. TFSAs, like CPP and OAS, are supposed to provide a series of revenue streams to keep you alive when (if??) you retire. Along with an actual pension but who has a pension these days and if you do well shame on you because pensions are ponzi schemes designed to rip off the tax payer you know.
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Jan 15, 2015 19:42
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Saltin posted:Compounding tax free interest/growth is the most powerful force in the universe. Making lots of money is much more powerful.
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Jan 15, 2015 19:46
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blah_blah posted:Making lots of money is much more powerful. Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six. Result: happiness. Annual income twenty thousand pounds, annual expenditure twenty thousand pounds nought and six. Result: misery.
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Jan 15, 2015 19:48
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The problem is a lot of people seem to honestly think they'll make more money via housing and "you can't live in a mutual fund lol". I've had people tell me they'd love to invest but all their money goes into housing, but that's ok because housing provides better returns. Doing what I'm doing, renting and investing, is seen as counter productive. Why pay someone else for shelter while at the same time paying into investments when you can skip the middle man and use the money you'd be throwing away on shelter to become your investment as well? It's insane not to do it! Also investments are dangerous and go up and down and make like what 5-7% ?? My sister in law, a REALTOR, told me housing prices are going to double by the time we retire, that's way better than 7%. Baronjutter fucked around with this message at 19:51 on Jan 15, 2015 |
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Jan 15, 2015 19:49
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LemonDrizzle posted:Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six. Result: happiness. Annual income twenty thousand pounds, annual expenditure twenty thousand pounds nought and six. Result: misery. Was that martin wolf?
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Jan 15, 2015 19:49
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TFSAs can have additional tax advantages even over RRSPs, depending on your current income vs expected income at retirement. And they're obviously much more liquid as you can withdraw tax-free at any time. On another note, let's all feel bad for the impending struggles and possible doom of REALTORS: https://www.cbc.ca/news/business/real-estate-commissions-could-fall-as-new-competition-heats-up-1.2900928
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Jan 15, 2015 19:50
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Cultural Imperial posted:Was that martin wolf? It's Dickens, and it's still probably the best thought on money/happiness ever written.
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Jan 15, 2015 19:55
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I think actual studies though have shown it's more to do with the people around you. People just need to make more than their peers. Making 20 pounds a month when their neighbours are making 15 is happiness. Making 20,000 pounds a month when your neighbours make 25,000 a month is misery.
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Jan 15, 2015 20:01
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