Rime posted:

Seeing as many of them no longer exist...

etalian posted:

The Canadian economy is worse than Mass Effect 3's endings.

Cultural Imperial posted:

can one of you poopsockers please explain to me what a mass effect 3 ending is

quote:

In Denmark You Are Now Paid To Take Out A Mortgage

Thanks of Mario Draghi's generosity with "other generations' slavery", and following 3 consecutive rate cuts by the Danish Central Bank, a local bank - Nordea Credit - is now offering a mortgage with a negative interest rate! This means, according to DR.dk, that Nordea have had to pay instead of charging interest to to a handful of customers, says housing economist at Nordea Kredit, Lise Nytoft Bergmann for Finance.

From DR, google-translated:

The interest rate has balanced around 0 in a level between minus 0.03 percent plus 0.03 percent. Most have paid a modest positive interest rate, but there are so few who have had a negative rate. It is quite an unusual situation, says Lise Nytoft Bergmann.

It is residential customers who have chosen to stick with F1-loan that now benefit from the negative interest rate. F1 loan form has otherwise been strong returns in recent years in favor of fixed interest loan.

Although interest rates are negative, it is not something that can be felt by customers as contributions and other costs continue to be paid. In turn, interest will be deducted from the contribution.

Precisely because it is an unusual situation, Nordea Kredit's IT systems are not geared to the situation when the computers are only used to collect interest.

Lise Nytoft Bergmann says that there is no cause for concern, and that the new situation can be handled, "but sometimes we have to use duct tape and paste."
This is just the beginning: according the Danish media outlet, as a result of variable-refinancing, as recently as a week from now "a greater share of customers could have a negative rate."

Mortgage Denmark is one of the mortgage banks, where F1 rate also is close to zero, and here you are very excited about the upcoming negotiations, says Christian Hilligsøe Heinig, chief economist of the Mortgage Denmark.

We have an auction just around the corner and it is very exciting to see how interest rates are going. We can go and get negative interest rates, says Christian Hilligsøe Heinig to JP Financial.
And just like that, first in Denmark, and soon everywhere else in Europe, a situation has now emerged where savers who pay the bank to hold their cash courtesy of negative deposit rates, are directly funding the negative interest rate paid to those who wish to take out debt. In fact, the more debt the greater the saver-subsidized windfall.

That all this will end in blood and a lot of tears is clear to anyone but the most tenured economists, however in the meantime, we can't wait to take advantage of the humorous opportunities that Europe (and soon Japan and the US) will provide in the coming months, as spending profligacy will be directly subsidized and funded by the insolvent monetary system, while responsible behavior and well-paid labor will be punished, first with negative rates and soon thereafter: with threats, both theoretical and practical, of bodily harm.

Rime posted:

Lotus 123 came from Cambridge, not Canada. Bioware has been a brand name for EA for years, slapped on unrelated internal teams, just like Maxis. Lionsgate has been based in the USA for even longer. ATI hasn't existed for we'll over a decade.

There's plenty of relics in your list man.

tagesschau posted:

You're really holding these up as shining examples of Canadian ingenuity? OK, I guess Highliner is pretty decent and in my freezer right now, but I prefer the President's Choice competitors.


a/k/a the people who screwed up the Obamacare rollout


And they say Ontario exporting is dead. They forgot about the Cup!

Hal_2005 posted:

Kalenn Istarion posted:

Cott produces (or produced at one time, not sure now) all of walmart's store brand pop, as well as RC cola, the best cola. PC cola might taste better but they are the real deal. They used to produce a lot of the PC cola as well although I think they lost that deal. I used to work there but I forget most of it as it was over a decade ago.

Cultural Imperial posted:

RIM and Corel are barely companies anymore. ATI doesn't exist. I have no idea what you mean by SSH server systems or Lotus 1-2-3 or medtronic. The current generation of Ford Escape most certainly wasn't developed in Canada (I'm guessing germany or uk). Frankly I'm shocked Ford developed the AWD and ABS themselves instead of buying it from Magna/Haldex/whoever. I see that Bauer was sold by Nike to a bunch of Russians. The most profitable sports league is most definitely not the NHL, which imo is the most incompetent loving network of corruption and nepotism. I mean jesus christ, wayne gretzky was the highest paid hc in the league and all 4 loving sutters are still loving around? Also jesus christ man, Cannacord? You obviously work in the ~*biz*~ and you bring those fuckers up? Finally, I can't believe you equate writing for gawker as the pinnacle of journalism.

hal_2005, this bromance is over.

Professor Shark posted:

Reminder that Hal used to fly off the handle with incredibly unintelligible and bizarre arguments whenever he stopped taking his medication (not that I'm upset to see him back- hey bud! ).

Speaking of unintelligible and bizarre arguments, I had one with my girlfriend last night re: Direct Energy (I sat my rear end down and caught up with the thread last night). I thought that DE sounded familiar and asked her about it, it turns out that a few months ago she'd told me that her sister was using them and that she thought that we should too. When I told her about what I'd read she became upset and told me that they aren't a scam and that not everything on the Internet is true.

So e/n, can you tell me more about Direct Energy I guess?

Professor Shark posted:

Reminder that Hal used to fly off the handle with incredibly unintelligible and bizarre arguments whenever he stopped taking his medication (not that I'm upset to see him back- hey bud! ).

Speaking of unintelligible and bizarre arguments, I had one with my girlfriend last night re: Direct Energy (I sat my rear end down and caught up with the thread last night). I thought that DE sounded familiar and asked her about it, it turns out that a few months ago she'd told me that her sister was using them and that she thought that we should too. When I told her about what I'd read she became upset and told me that they aren't a scam and that not everything on the Internet is true.

So e/n, can you tell me more about Direct Energy I guess?

quote:

On December 20, 2012, The Competition Bureau announced today that it is taking action against Direct Energy Marketing Limited, a company that rents water heaters to residential customers in Ontario.

Following an extensive investigation, the Bureau determined that Direct Energy engaged in practices that intentionally suppressed competition and restricted consumer choice. Specifically, the company implemented water heater return policies and procedures aimed at preventing consumers from switching to competitors. This anti-competitive conduct affects consumers, other rental water heater companies, and businesses that sell water heaters, such as home improvement centres.

Currently, when Direct Energy customers wish to switch to another provider, they must contend with a number of practices and procedures intended to frustrate the return process for their rented water heaters, including:

- a requirement to call to obtain authorization to return a rented water heater;
- aggressive retention tactics during these calls;
- restrictions on when and where water heaters can be returned; and
- unwarranted fees and charges.

To restore competition in the market for residential water heater sales and rentals, and to protect consumer choice, the Bureau filed applications with the Competition Tribunal today, seeking orders prohibiting Direct Energy from engaging in further anti-competitive conduct. In addition, the Bureau is seeking an administrative monetary penalty of $15 million from Direct Energy.

The Bureau's applications were filed under the abuse of dominance provision of the Competition Act.

Copies of the Bureau's applications will be available shortly on the Competition Tribunal's website.

This is the second proceeding the Competition Bureau has commenced against Direct Energy or its predecessor. In 2002, following a Bureau investigation, the Competition Tribunal prohibited similar conduct by Enbridge Services Inc., now Direct Energy, under a 10-year consent order. The Bureau's investigation determined that Direct Energy re-engaged in similar conduct after the consent order expired in February 2012.

The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.

etalian posted:

A friendly reminder that other knowledge type industries like IT/Tech or medical companies only make up a tiny percentage of all TSX market cap:


Basically the only canadian companies that have true big international reach tend to be either energy or finance.


Another mistake in the canadian economy was not targeting emerging markets well enough since most canadian exports go to the USA or developing world markets:
http://www.theglobeandmail.com/report-on-business/cppib-chief-urges-canada-to-diversify-aim-investments-at-emerging-markets/article22643580/

Cultural Imperial posted:

hahaha i love this chart

Ikantski posted:

http://www.bbb.org/kitchener/business-reviews/energy-service-companies/direct-energy-ontario-home-services-in-markham-on-1088307

Count Canuckula posted:

Why would we have to tell you anything when the BBB can tell you everything you need to know!

http://www.bbb.org/kitchener/business-reviews/energy-service-companies/direct-energy-ontario-home-services-in-markham-on-1088307

edit: gently caress, beaten! ^^^

quote:

The Canadian economy’s disappointing step backward in November has strengthened the case for the Bank of Canada to cut interest rates further to stanch the bleeding.

Statistics Canada reported Friday that gross domestic product shrank by a seasonally adjusted 0.2 per cent in the month versus October, the weakest performance in nearly a year. Year-over-year growth stood at 1.9 per cent, the slowest since last March, and down significantly from October’s 2.3 per cent.

The surprise economic contraction underlined the mounting risks of a stalling of Canada’s fragile economic recovery, which was the Bank of Canada’s chief concern last week when it announced an unexpected cut in its key interest rate, to 0.75 per cent from 1 per cent. The disturbing data dealt another body blow to the Canadian dollar, sending it down more than a full penny to 78.22 cents (U.S.) immediately following the release, as traders upped their bets that the central bank will have to cut rates further to prop up the faltering economy.

Economists said the November disappointment puts the 2014 fourth quarter on pace for a tepid 2-per-cent annualized growth rate, making the Bank of Canada’s latest estimate of 2.5 per cent, issued just last week, already look outdated. But perhaps more troubling was the source of the weakness in the November numbers: Oil wasn’t the biggest problem.

The ill effects of plunging oil prices on the energy sector in November were fairly muted. Oil and gas extraction retreated 0.7 per cent in the month, at a time when the average price for crude’s West Texas Intermediate benchmark averaged almost $76 (U.S.) a barrel, $30 higher than today.

The bigger source of weakness was the manufacturing sector – which is supposed to benefit from oil’s weakness, as cheap fuel gives an added boost to the economy in the key U.S. export market (the world’s biggest energy consumer), while the declining loonie delivers a competitive edge to Canada’s non-energy exports. Yet output from Canadian factories slowed by 1.9 per cent in the month, wiping out their healthy gains in September and October.

“Even outside of energy, underlying economic growth was discouragingly soft,” said Merrill Lynch economist Emanuella Enenajor.

While most experts believe the manufacturing sector will bounce back as the oil-related effects take greater hold, the discouraging November weakness presents the possibility that the non-oil economy isn’t on as solid ground as many observers, including the Bank of Canada, had previously thought.

“The lack of momentum in manufacturing and non-energy exports suggests downside risk to the growth outlook,” said Charles St-Arnaud, senior economist at Nomura Securities in London and a former Bank of Canada economist. “We continue to believe that the BoC will cut rates again in the coming months.”

The central bank’s next rate decision is March 4, less than five weeks away. That’s not a lot of time for the effects of last week’s rate cut – and the resulting further depreciation of the Canadian dollar – to play out in the broader economy. There’s a feeling that the central bank might want more time to assess the impact of its first rate cut before committing to a second one.

The surprise nature of last week’s rate cut has ramped up the uncertainty surrounding the central bank’s policy path, and as a result, any additional cutting would call for some detailed explanation from Bank of Canada Governor Stephen Poloz, to keep financial markets up to speed with the bank’s thinking. For that reason, the bank may prefer to wait until its April 15 rate decision, when its scheduled announcement will be accompanied by a Monetary Policy Report and a news conference with Mr. Poloz, rather than just the usual one-page policy statement that will accompany the March decision.

But given the sour November numbers and the prospect of things getting worse before they get better as the impact of the oil shock deepens, a growing number of economists feel the situation warrants quick action – the central bank should cut again at its next available policy-setting opportunity.

“The contraction in November increases the likelihood that the next move will be in March,” Mr. St-Arnaud said.

Segue posted:

Another rate cut just seems silly to me. Interest rates have been at historic lows for years. It's not like everyone's been putting off doing things because 1.00% or 0.75% are ridiculous rates.

Will cutting them further actually spur more economic activity or encourage borrowing? It seems something that isn't particularly useful when you've been doing it for the last five years or so and you're still screwed.

Segue posted:

Another rate cut just seems silly to me. Interest rates have been at historic lows for years. It's not like everyone's been putting off doing things because 1.00% or 0.75% are ridiculous rates.

Will cutting them further actually spur more economic activity or encourage borrowing? It seems something that isn't particularly useful when you've been doing it for the last five years or so and you're still screwed.

blah_blah posted:

The most profitable sport in the US is the NFL, by far: http://money.cnn.com/2015/01/30/news/companies/nfl-taxpayers/, and any claims that e.g. NBA teams are losing money is largely accounting smoke and mirrors: http://deadspin.com/5816870/exclusive-how-and-why-an-nba-team-makes-a-7-million-profit-look-like-a-28-million-loss

Helsing posted:

So how long before the Bank of Canada starts straight up buying billions of dollars worth of securities like the US Fed has been doing for the last few years?

Cultural Imperial posted:

All y'all hate qe for no good reason. Bring it.

ocrumsprug posted:

Hopefully it works better than the version we tried in Canada where the government wrote blank checks for real estate.

Professor Shark posted:

Reminder that Hal used to fly off the handle with incredibly unintelligible and bizarre arguments whenever he stopped taking his medication (not that I'm upset to see him back- hey bud! ).

Speaking of unintelligible and bizarre arguments, I had one with my girlfriend last night re: Direct Energy (I sat my rear end down and caught up with the thread last night). I thought that DE sounded familiar and asked her about it, it turns out that a few months ago she'd told me that her sister was using them and that she thought that we should too. When I told her about what I'd read she became upset and told me that they aren't a scam and that not everything on the Internet is true.

So e/n, can you tell me more about Direct Energy I guess?

Furnaceface posted:

A videogame ending equivalent to the housing bubble. Tons of buildup with a predictably and poorly planned ending that left tons of people feeling betrayed and burned by the ones who told them it could only go up Up UP.

Isentropy posted:

As someone about to go back to grad school for aero stuff, are local companies trying to pick up the slack? Or is it a "don't go, no jobs, die alone" kind of deal?

I ask in this thread because aerospace is, as far as I know, one of the few things that other countries will pay us to make/do (as opposed to being some crazy DEVCO/SYSCO autarkic deal). I know that several major companies (R&R, Pratt, CAE, etc.) do research and development (!!) and build stuff in Montreal.

Helsing posted:

Why? Is pumping up stock prices going to magically revive an economy with lovely fundamentals?

Also, I thought you hated bubbles, which would seem to be the one thing that QE is actually good at creating.

Kraftwerk posted:

So if you want my advice on whether you should do it or not. I say do it if your heart is in aviation. If you're good at hard science and can handle design you will find lucrative careers among companies that actually design the components that go into airplanes. Working for the actual airframer like Bombardier will limit your career and tie your fate almost exclusively to the fate of that company. There are a lot of "lifers" there who have no career prospects outside that company because they stayed too long. Aerospace also doesn't pay that well compared to say working for AMD, Intel etc. So it's more of a "dedication" type job than a well compensated one.

etalian posted:

It's pro advice, Aerospace is a decent way to get your feet as a fresh out but don't try to make a career out of it since it's fairly stagnant/risk adverse greybeard industry.

Kraftwerk posted:

Don't I know it. Just a bunch of old men pushing us young folk around and paying us diddly squat. Unfortunately I'm stuck here. I don't have a formal engineering degree but I work a highly technical position... Every time I get ambitions and want to take on additional responsibility I get slapped down by the old boys club despite many others believing I could handle it. There's people who've been with us since 1976 and show no signs of retiring. Makes my upwards mobility really limited.

Kraftwerk posted:

Most young people have been leaving the company because they quickly realized they are forgetting or wasting their engineering skills on what amounts to a clerical engineering document reading comprehension job. They're great to work for as a start to your career, but you'll want to quickly leave and go work for a proper design firm both to keep your skills and get higher pay.

(...)

Working for the actual airframer like Bombardier will limit your career and tie your fate almost exclusively to the fate of that company. There are a lot of "lifers" there who have no career prospects outside that company because they stayed too long. Aerospace also doesn't pay that well compared to say working for AMD, Intel etc. So it's more of a "dedication" type job than a well compensated one.