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Rime
Nov 2, 2011

by Games Forum

PT6A posted:

Yep, Banff National Park: what a shithole. No nature, no animals, nothing! Jasper? What's there to see? You might as well be smoking two packs of day rather than breathing that polluted air...

Honestly, what are you basing your opinions of Alberta on? I'm not sure you've ever actually been here.

These are parts of BC that are only in Alberta by virtue of some terrible cartographic choices. Your lovely province starts at the foothills, son, the mountains are ours.

:chord:

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Throatwarbler
Nov 17, 2008

by vyelkin

Baronjutter posted:

Is it ok to really hate privileged criminals and rude arrogant rich people as a general class? And/or people who buy their into the country to stash their mostly ill-gotten money only to become a net drain while thousands of honest hard working people wait for years in our lovely racist immigration system? I don't care where you're from, if you meet the above criteria I'm going to dislike you as a class.

I wish we would go back to the old days when only whites lived in Canada, as it is well known that no white person has ever driven a Ferrari fast on public roads or built a bigger house than he needs, and any white person who comes into money, which of course he has earned by the sweat of his brow and definitely not from being born onto a patch of dirt with something valuable beneath it, immediately devotes it all to philanthropy and the local community.

etalian
Mar 20, 2006

Throatwarbler posted:

I wish we would go back to the old days when only whites lived in Canada, as it is well known that no white person has ever driven a Ferrari fast on public roads or built a bigger house than he needs, and any white person who comes into money, which of course he has earned by the sweat of his brow and definitely not from being born onto a patch of dirt with something valuable beneath it, immediately devotes it all to philanthropy and the local community.

You mean back in the day when canadians were actually loser Americans who hated freedom?

Waaaah, we love our gay king and royalty, let's escape to Canada

Throatwarbler
Nov 17, 2008

by vyelkin

etalian posted:

You mean back in the day when canadians were actually loser Americans who hated freedom?

Waaaah, we love our gay king and royalty, let's escape to Canada

IF you're going back that far, most Canadians were French.

Furnaceface
Oct 21, 2004




Throatwarbler posted:

I wish we would go back to the old days when only whites lived in Canada, as it is well known that no white person has ever driven a Ferrari fast on public roads or built a bigger house than he needs, and any white person who comes into money, which of course he has earned by the sweat of his brow and definitely not from being born onto a patch of dirt with something valuable beneath it, immediately devotes it all to philanthropy and the local community.

To be fair he was pretty specific in that if you are a rich rear end in a top hat, he will hate you no matter what your origin or background is.

Vaginapocalypse
Mar 15, 2013

:qq: B-but it's so hard being white! Waaaaaagh! :qq:
I'm all for hating on and eating the rich, I just don't know why we're singling out a single ethnicity as the source of all of Canada's economic woes.

Juul-Whip
Mar 10, 2008

My parents who are pretty left wing and unracist are completely convinced that it's all because of the Chinese, it never entered into their minds that cheap credit had anything to do with it.

ocrumsprug
Sep 23, 2010

by LITERALLY AN ADMIN
You guys are insane. If you have the chance to date a Chinese pop star, you date the Chinese pop star. Former or not.

Of all the things to hold against the mayor of Vancouver...

Precambrian Video Games
Aug 19, 2002



THC posted:

My parents who are pretty left wing and unracist are completely convinced that it's all because of the Chinese, it never entered into their minds that cheap credit had anything to do with it.

Yeah well Canadian credit is cheap only because it has to compete with even cheaper Chinese-made credit.

Baronjutter
Dec 31, 2007

"Tiny Trains"

ocrumsprug posted:

You guys are insane. If you have the chance to date a Chinese pop star, you date the Chinese pop star. Former or not.

Of all the things to hold against the mayor of Vancouver...


If you see all Chinese as a shadowy "them" bent on taking over and ruining your city, the mayor literally in bed with one is cause for alarm.

ocrumsprug
Sep 23, 2010

by LITERALLY AN ADMIN

Baronjutter posted:

If you see all Chinese as a shadowy "them" bent on taking over and ruining your city, the mayor literally in bed with one is cause for alarm.

Another thing to be envious of imo. Not only can I not afford a house, but now all the C-pop singers are being speculated on now to... :pervert:

When will this nightmare end?

Juul-Whip
Mar 10, 2008

Literally don't give a gently caress about ever owning a house. I'm going to move into a $500,000 condo and live in it for as long or as little as I want, and its not gonna be 20 years.

Juul-Whip fucked around with this message at 07:43 on Feb 27, 2015

Kalenn Istarion
Nov 2, 2012

Maybe Senpai will finally notice me now that I've dropped :fivebux: on this snazzy av
All this drama about Alberta, opec will cave in under a year and prices will be back up. Shale oil has a much worse cost profile than most of the producing oil sands so prices could even end up better for a while til some of the shale oil growth gets on track again.

It's in opec's LT interest to have high oil prices, just like while potash corp could produce for cheaper than almost anyone else they manage their production to keep prices healthy.

As much as it will suck for some people for some time the oil sands aren't going anywhere. Too bad for all the people in this thread who seem to do desperately want to see others suffer, I guess.

UnfortunateSexFart
May 18, 2008

𒃻 𒌓𒁉𒋫 𒆷𒁀𒅅𒆷
𒆠𒂖 𒌉 𒌫 𒁮𒈠𒈾𒅗 𒂉 𒉡𒌒𒂉𒊑


Re: inspections, my condo didn't require any until they installed sprinklers and hardwired fire alarms in every unit, and now I get like three days notice to be home when it happens. During working hours of course.

And I don't think people have a problem with Chinese people being rich, they have a problem with the very different values and cultural norms. Like simple things Western Europeans take for granted like "waiting patiently in a line."

But this will all work itself out in a generation.

Professor Shark
May 22, 2012

THC posted:

Yeah Vancouver is literally China. Exactly the same except for a lack of air pollution, majority white Anglo population, one hour drive to the states, not a communist dictatorship, etc etc. how anyone can tell the difference is beyond me.

China is a communist country in name only

Sassafras
Dec 24, 2004

by Athanatos
.

Sassafras fucked around with this message at 09:09 on Mar 14, 2015

computer parts
Nov 18, 2010

PLEASE CLAP

Baronjutter posted:

Is it ok to really hate privileged criminals and rude arrogant rich people as a general class? And/or people who buy their into the country to stash their mostly ill-gotten money only to become a net drain while thousands of honest hard working people wait for years in our lovely racist immigration system? I don't care where you're from, if you meet the above criteria I'm going to dislike you as a class.

If it were Jews doing this would you say the same thing?

Kafka Esq.
Jan 1, 2005

"If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

computer parts posted:

If it were Jews doing this would you say the same thing?

The Chinese super elite have achieved an opulence beyond the gold of Solomon.

tagesschau
Sep 1, 2006

D&D: HASBARA SQUAD
THE SPEECH SUPPRESSOR


Remember: it's "antisemitic" to protest genocide as long as the targets are brown.

Kalenn Istarion posted:

opec will cave in under a year and prices will be back up

Where do you get that idea? Obviously OPEC can't continue this forever, but there's no reason they couldn't keep pumping through most of 2016. Might be enough to drag the Canadian housing market back to sanity.

EvilJoven
Mar 18, 2005

NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?
Fun Shoe
OPEC will prob let prices rise but don't for a second think they wont turn around and body slam more expensive domestic production every time we fire it up again.

unlimited shrimp
Aug 30, 2008
I'm mostly opposed to someone who grew up here, who lives, works, and pays into the system, being priced out of the market by foreign investment. I don't really care where or who the money is coming from.

EvilJoven
Mar 18, 2005

NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?
Fun Shoe
OPEC gonna keep pushing us back in the pool whenever we try the get out. Big bully OPEC.

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

unlimited shrimp posted:

I'm mostly opposed to someone who grew up here, who lives, works, and pays into the system, being priced out of the market by foreign investment. I don't really care where or who the money is coming from.

It's also really non-sensical to treat the tiny sliver of the Chinese population, now probably 1.4 or 1.5 billion strong, that comes over to Canada/Australia/etc. to buy hideously expensive property and such, as even remotely representative of all Chinese people in general, or to treat opposition to them as racism against Chinese people in general.

Ceciltron
Jan 11, 2007

Text BEEP to 43527 for the dancing robot!
Pillbug

PT6A posted:

It's also really non-sensical to treat the tiny sliver of the Chinese population, now probably 1.4 or 1.5 billion strong, that comes over to Canada/Australia/etc. to buy hideously expensive property and such, as even remotely representative of all Chinese people in general, or to treat opposition to them as racism against Chinese people in general.

Please stop being reasonable and saying things I agree with, PT6A.

But yeah, generally, rich immigrants from any country are suspect - the big problem with wealthy mainlanders is that they are incredibly pushy all over the world (like any nouveau riche, but unleashed all at once with a shocking effect), and the way they form gilded ghettos for themselves is alarming.

Throatwarbler
Nov 17, 2008

by vyelkin

unlimited shrimp posted:

I'm mostly opposed to someone who grew up here, who lives, works, and pays into the system, being priced out of the market by foreign investment. I don't really care where or who the money is coming from.

Yes, the "system" you paid into which grants you a call option on real estate? I must have missed that item on my T4.


Ceciltron posted:

Please stop being reasonable and saying things I agree with, PT6A.

But yeah, generally, rich immigrants from any country are suspect - the big problem with wealthy mainlanders is that they are incredibly pushy all over the world (like any nouveau riche, but unleashed all at once with a shocking effect), and the way they form gilded ghettos for themselves is alarming.

Yes as opposed to wealthy whites who have definitely never built any wealthy enclaves and instead spend their days mingling cheek and jowl with the proletariat, being merely first among equals, right? Kind of odd that the establishment for a hukou system and the abolition of private land ownership weren't so popular back when it was only white people.

The mental gymnastics going on in this thread never cease to amuse me.

triplexpac
Mar 24, 2007

Suck it
Two tears in a bucket
And then another thing
I'm not the one they'll try their luck with
Hit hard like brass knuckles
See your face through the turnbuckle dude
I got no love for you
DEY TERK ER HOUSES

Kafka Esq.
Jan 1, 2005

"If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

Throatwarbler posted:

Yes, the "system" you paid into which grants you a call option on real estate? I must have missed that item on my T4.

Yes as opposed to wealthy whites who have definitely never built any wealthy enclaves and instead spend their days mingling cheek and jowl with the proletariat, being merely first among equals, right? Kind of odd that the establishment for a hukou system and the abolition of private land ownership weren't so popular back when it was only white people.

The mental gymnastics going on in this thread never cease to amuse me.

Whose mental gymnastics? Are you in an Alamo of your own design here

Ceciltron
Jan 11, 2007

Text BEEP to 43527 for the dancing robot!
Pillbug

Throatwarbler posted:

Yes, the "system" you paid into which grants you a call option on real estate? I must have missed that item on my T4.


Yes as opposed to wealthy whites who have definitely never built any wealthy enclaves and instead spend their days mingling cheek and jowl with the proletariat, being merely first among equals, right? Kind of odd that the establishment for a hukou system and the abolition of private land ownership weren't so popular back when it was only white people.

The mental gymnastics going on in this thread never cease to amuse me.

Dude, I hate all the rich white people too. Your argument that "white people are bad too" does not invalidate the fact that there is a bad thing happening.

I will concede a chip on my shoulder from when I lived in China and got a pretty poo poo treatment from said wealthy mainlanders (my boss would routinely underpay me and talk about how she was going to buy a house in Vancouver).

unlimited shrimp
Aug 30, 2008

Throatwarbler posted:

Yes, the "system" you paid into which grants you a call option on real estate? I must have missed that item on my T4.
You're right, the system is flawed.

Rime
Nov 2, 2011

by Games Forum

Throatwarbler posted:

Yes as opposed to wealthy whites who have definitely never built any wealthy enclaves and instead spend their days mingling cheek and jowl with the proletariat, being merely first among equals, right? Kind of odd that the establishment for a hukou system and the abolition of private land ownership weren't so popular back when it was only white people.

Are you saying Russians aren't white? Or are you restricting this bizarre strawman to Canadian history only? :confused:

Ceciltron
Jan 11, 2007

Text BEEP to 43527 for the dancing robot!
Pillbug
Yeah the hukou is also a weird thing to bring up because it is basically a feudalist thing that has survived.


In case anyone (throatwarbler) forgot, China is not communist. It has experienced a capitalist restoration like Russia did.

Lain Iwakura
Aug 5, 2004

The body exists only to verify one's own existence.

Taco Defender
http://www.cbc.ca/news/business/instalment-loans-the-new-high-interest-danger-for-consumers-1.2971067

quote:

At a time when she should be approaching her golden years, 57-year-old grandmother Helen Parry is instead supporting two adult children on a wage that hasnt increased in eight years.

"Cost of living rises but the pay doesnt and the utilities and everything goes up so it gets harder each year," Parry says.

Last year, with bills piling up, Parry, who lives in Brampton, Ont., asked her bank for a loan but was turned down because of bad credit.

She turned to a company called easyfinancial Services Ltd.

"I was relieved because, you know, I didn't have any other option at the time."

She got a loan of $3,100 to be paid back over 18 months. But in doing so, Parry dove into one the fastest growing and potentially most expensive types of debt in Canada.

Theyre called Instalment loans. They are, in a nutshell, unsecured, high-interest, subprime, short-term loans.

A hidden-camera investigation by CBC Marketplace is helping expose just how costly these loans can be.

Unlike payday loans, which are usually for a few hundred dollars and repaid in a few weeks, instalment loans allow you to borrow up to $15,000 with repayment periods of up to three years.

But like payday loans, instalment loans are aimed at the same general market: people with bad debts and poor credit. They often have lower incomes, are struggling to get by and are less sophisticated financially.

In fact, some purveyors of instalment loans are literally setting up shop in many of the same depressed neighbourhoods once populated by payday lenders.

A slippery slope

Easyfinancial Services Ltd. is taking over 47 retail locations across Canada from The Cash Store, an Edmonton-based payday lender that went out of business after it was barred from making new loans in Ontario because of rules limiting interest charges.

While not as high as payday loans, instalment loans also carry rates of interest that can be considered extreme.

Take Parry. A few months after she got her original loan, she got a call from easyfinancial offering her more money with a longer repayment period. Parry agreed and ended up with a $5,100 loan to be repaid over 36 months. Her semimonthly payment was $186.82, which includes an optional loan-protection Insurance payment of $55.97.

Parry's loan agreement has the total cost of borrowing expressed as an annual percentage rate (APR) of 46.96 per cent.

But Peter Gorham, an actuary who provides certification on criminal rates of interest, calculated Parry's effective annual interest rate to be 57.12 per cent.

"The criminal interest rate is anything over 60 per cent," says Gorham. "Theyre very close."

Easyfinancial told Parry the total obligation for the term of the loan would be $9,521.90. But under the Consumer Protection Act, easyfinancial only has to include the principal plus interest in the cost-of-borrowing disclosure.

If you include the insurance payment, by the end of 36 months, Parry would have repaid a total of more than $13,400.

Legally, insurance payments aren't included in interest calculations,but if you were to take those into account, Gorham says, the effective annual interest rate would be 120.3 per cent.

Customers often don't understand

A former easyfinancial employee, who did not want her identity revealed, told Marketplace easyfinancials customers often dont comprehend the cost of borrowing.

"I dont think anyone really understood. All they wanted was the money and they wanted it quick. And then you pay and you pay and you pay and you pay," says the former employee.

She says sales reps, who receive a commission, would call customers offering more money.

"You wouldnt finish paying off your first loan but youve made so many payments, now you qualify for more money. So you would add to that loan. Then you just roll it over."

She says it bothered her so much, she quit.

"I would come home every day very depressed. Like, just felt like we were stealing from people."

In a statement to Marketplace, easyfinancial executive vice-president Jason Mullins said Ninety-five per cent of our customers rate their experience with easyfinancial as good or excellent. Your story is relying on a few negative anecdotal examples that represent a small number of our customers."

A debt trap

Debt counsellors, though, say high interest rates and refinancing options like those offered by easyfinancial can be devastating.

"For many people, they get stuck in this cycle not for just years but decades," says Scott Hannah, president and CEO of Credit Counselling Society.

Instalment loans have been around in the U.S. for decades but they are relatively new to Canada.

And yet, Equifax, a credit monitoring company, says instalment loans are the second fastest growing type of debt in Canada, behind only auto loans. Instalment loans now account for a total of $132 billion owed, or 8.7 per cent of Canadas total debt distribution.

The vast majority of that is held by the big banks.

Alternative lenders say their share of the instalment loan business is about $2.5 billion in Canada.

Numbers game

Vancouver-based Urloan, one of those lenders, was offering on its website a $15,000 loan payable in 36 monthly instalments of $858.80.

"I analyzed that loan and determined that the effective annual interest rate thats contained in that particular arrangement is 71.26 per cent," actuary Jay Jeffrey says.

Urloan says that was a mistake.

​"The ​calculator on our website is definitely wrong," says Ali Pourdad, president and CEO of Creditloans Canada Financing Ltd., the parent company of Urloan. "I think you discovered a much higher payment than we actually charge."

Pourdad says Urloans loans have an APR of 46.9 per cent, which he says equates to an effective annual interest rate of 58.5 per cent, just below the legal limit of 60 per cent.

"Yeah, they're high," says Pourdad.

"Unfortunately, we have to charge these rates. It's nothing to do with 59.9, 59.8, it's the fact that we're taking an immense amount of risk. And also, we have to borrow at higher rates because we're a high-risk lender."

Other options

Pourdad says his company is helping people who wouldnt qualify for a bank loan, by getting them out of financial trouble through consolidating debt.

​"They're going from not paying bills to paying them off. That's where we come in," says Pourdad.

But critics say consolidating debts into one often higher-interest loan is not usually the best way to go.

"If they fall behind on these loans, the consolidation loans, it's just like falling behind on any other loan, you'll eventually be pursued for the balance and get calls from collection agencies, says John Lawford, of the Public Interest Advocacy Centre.

It's better, Lawford says, to go to a credit counselling service, which can often negotiate a lower interest rate.

Thats what Parry did.

Unable to make the payments on her loan from easyfinancial, she went to Credit Canada Debt Solutions.

They got her a new interest rate for her instalment loan: 9.99 per cent.

That, she says, is a rate she can afford.

Baronjutter
Dec 31, 2007

"Tiny Trains"

computer parts posted:

If it were Jews doing this would you say the same thing?

I don't care what your background is, a rich rear end in a top hat is a rich rear end in a top hat. No one can talk about class in BC without accusations of racism flying everywhere.

computer parts
Nov 18, 2010

PLEASE CLAP

Baronjutter posted:

I don't care what your background is, a rich rear end in a top hat is a rich rear end in a top hat. No one can talk about class in BC without accusations of racism flying everywhere.

So if Jews were doing it you would say "those drat Jews are ruining everything "?

Baronjutter
Dec 31, 2007

"Tiny Trains"

computer parts posted:

So if Jews were doing it you would say "those drat Jews are ruining everything "?

No, why would anyone say that? Is anyone in the thread saying any specific ethnic or religious is doing something or should be specifically blamed for something?
A flood of capital entering a city looking to get rich quick off rents and flipping is bad for the community, it doesn't matter where the capital is from. China, Texas, local cheap credit. It's absolutely ok to complain about this.

Ceciltron
Jan 11, 2007

Text BEEP to 43527 for the dancing robot!
Pillbug

I like how in this situation there's a bunch of pretend money just jumping between companies. Like, the end result is basically the same as if they'd gone to a bank, it's just the usurers get to take a bite out of everyone's income along the way.

unlimited shrimp
Aug 30, 2008

computer parts posted:

So if Jews were doing it you would say "those drat Jews are ruining everything "?
I think you can note a demographic reality without invoking blood libel.

Jan
Feb 27, 2008

The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.

Ceciltron posted:

I like how in this situation there's a bunch of pretend money just jumping between companies. Like, the end result is basically the same as if they'd gone to a bank, it's just the usurers get to take a bite out of everyone's income along the way.

Except banks, for once, would do the right thing and not grant these people a loan.

quote:

Pourdad says his company is helping people who wouldnt qualify for a bank loan, by getting them out of financial trouble through consolidating debt.

​"They're going from not paying bills to paying them off. That's where we come in," says Pourdad.

Who seriously believes this is a good idea? "Oh, I have some debt ranging between 15% and 25% interest rate... I'd rather have it all in one place at 55% interest rate." You're supposed to consolidate at a lower rate, not a higher one, what the christ.

:negative:

Ceciltron
Jan 11, 2007

Text BEEP to 43527 for the dancing robot!
Pillbug

Jan posted:

Except banks, for once, would do the right thing and not grant these people a loan.


Who seriously believes this is a good idea? "Oh, I have some debt ranging between 15% and 25% interest rate... I'd rather have it all in one place at 55% interest rate." You're supposed to consolidate at a lower rate, not a higher one, what the christ.

:negative:

The guy making 58% interest on his captive audience thinks it's a great idea. It's great for him, and that's enough of a thought process for most people.

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Juul-Whip
Mar 10, 2008

Kalenn Istarion posted:

Too bad for all the people in this thread who seem to do desperately want to see others suffer, I guess.
Tar sand workers having to find new jobs is certainly no worse than the suffering they have inflicted upon others in their irresponsibility and their greed, digging up what is basically unburnable oil and deregulating everything that stands in their way. gently caress them.

Juul-Whip fucked around with this message at 19:21 on Feb 27, 2015

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