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Salutations, readers. It seems it's been a month since I last posted. Mostly due to not really giving much of a shit about what's been in the news.
Rings of Power on Amazon, sucks just like we all said it would. Critics admit to falling asleep watching it. Toldja.
Putin rattling his nukes, just like I said he would.
Let'sGoBrandon mumbling incoherently on camera, just like we expected. There's still time for him to piss his pants on camera before November, so watch for that.
One thing unexpected, Let'sGoBrandon's puppeteers just shut down the entire Chinese computer chip industry. Like, bang. Done. Almost as if he's -begging- them to nuke the USA (or Taiwan, for that matter.) These people really are lunatics.
Meanwhile in Canada, our Dear Leader seems absolutely determined to bankrupt every single middle class family in the nation. They're not even pretending, they're just doing it and telling us all to shove it. Diesel is $209.00 a quart, whose interests does that serve? Expected.
Also the teacher with the huge fake tits is still teaching in Oakville despite the rather large protests, so there's that data point as well. Fabulously expected.
Which I must say is boring, in a really evil sort of way. Fascists gonna fash, I guess... Keep your clothes and "accoutrements" where you can find them in the dark, friends.
And keep some cash on hand. Remember, your local bank machine will not work if there is a power failure or a network crash. Nor will the gas pumps at the local gas station. (They don't have backup generators. Remember the last ice storm?)
Your scrying eyes on the Toronto housing market, er, bubble, would be appreciated.
ReplyDeleteWhat I see is that -nobody- is selling right now. Listings are very thin. Also nobody is buying right now, because they can't get mortgage approval. The banks basically shut it all down.
ReplyDeleteWhat does this mean for the bubble? Your guess is as good as mine. If there are no buyers except those with cash, there will be no sales to speak of. That's a downward price pressure.
But, there is -inflation- to consider. Double-digit inflation, according to some. That's a powerful upward pressure, and one that the Bank of Canada can't sustain a fight against because they owe trillions of dollars. If they raise interest rates much more, they'll put themselves out of business. Therefore, crystal ball says inflation will continue, and housing prices will continue to rise.
Third thing, people are in these houses primarily as a tax haven. It is the ONLY INCOME you can get that the government doesn't take half of. That structural reality has not changed.
Therefore, I say the bubble still lives. The government can fuck around rearranging the deck chairs, but the ship steams onward. Maybe prices drop a bit to 2019 levels before going back up. Iceberg ahead? Could be, but the crystal ball is foggy.
I now add the caution that I am a house painter/physical therapist, not a finance/real estate guy. My crystal ball could be 100% full of shit.
Thank you. I was wondering why the bubble hasn't bubbled. You did touch on the secret financial agenda, 'real estate as tax haven'.
ReplyDeleteLooking back over your posts.
ReplyDeleteAt least in late 2023 the Chinese can domestically produce 7nm chips and 5G hardware, and they are working on 5nm and 3nm nodes with their own ideas, no US hardware.
They're also talking about at least a 30% reduction in US chip imports by local replacement by the end of 2024.
All AMD/ARM/Intel designs, running on proprietary equipment. Or so I think, anyway. Not like I'm an expert.
ReplyDeleteI don't think they have the ability to do homegrown processors etc. at the same level as AMD/Intel. Unless they cut/paste their way to victory, which would be difficult.