The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #173 (Bitcoin News Stories) - Swan Dives, Corn Rallies, Biden Bids Adieu

Episode Date: July 23, 2024

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Well done. Okay. 58, 37. So we had 14 minutes of intro, 58 minutes total. I got to write this stuff down. Me and Len have this like software that helps us with the clips and we have to buy like credits. We're stinging it right now.

Yeah. Instead of doing the whole two hours. Anyway, I'll leave things off, Joey. I'll get things going while you figure out the math. And Joe Biden. doing the whole two hours anyway i'll leave things off joey i'll get things going while you figure out the math and uh joe biden joe biden is done as a candidate president joe biden is still going to be there i think so i can't be for searching either way there was i okay i want to talk about joe biden the candidate first We'll talk about him being the candidate first. There was an excellent YouTube video that's live,

and it was talking about the shelf life of a head of lettuce. And apparently the shelf life of a head of lettuce is about 10 days. And so they put this, live streamed it, and the expiry date was on June 28th for this head of lettuce. And they were trying to figure out which is going to last longer. Joe Biden's candidacy or this head of lettuce. And surprisingly, the head of lettuce won. Take that for what you want.

Apparently, like hundreds of thousands of people were viewing it on the live stream on YouTube. A lot of interest in this. Just watching it had to let us decompose. Slowly decompose, but still won. We have to give that thing a gold medal. It's not a participation award. This thing clearly won. It's a champion.

So good on that. Anyways, now we have that. Oh, man. Candidate Joe Biden wrote in a letterhead that seems to be kind of suspicious for some people. Looks like he made it in fucking staples. Of course it looks suspicious. With a signature that doesn't seem to be matching his regular signature. And people are questioning now the timing of when the white house officials learned

about his leaving lord hidden his not continuing to run they found out the same time we did no joe biden in sight and now he's endorsing kamala harris as the next candidate for the democratic party so very interesting stuff. What's funny about this, or sad, depending on how you look at this, look, I'm talking like him, look. Look, look, look. They are in a difficult situation. We have three months-ish, maybe a little bit more.

I don't know what the heck this is, before the election takes place. You're in a difficult position when you're doing this. On the bright side, though, Len, they have another month after the election while they're counting votes to continue the campaign. So it could make up some lost ground there. So four months we have. What is odd is, remember, RFK Jr.

Say what you want about him, but he was never given a fair shake, never given an opportunity to run. And now they need a candidate that wants to run, and he's and he's running as independent anyways joe i just want to state one thing by the way this is something that's interesting that was posted on twitter and i found to be interesting do you know the last time joey that somebody named 1976 I was not even born. In all my fucking life, there's been somebody named Biden, Bush, or Clinton on a ticket. Not on a ticket.

In the US election. Okay. That is a long... Senator, congressman, whatever. That is a long time. Oh, yeah. Before I was born right i've never had in my lifetime where you had somebody not named one of those guys or gals anyway this it

is funny in a way but it is scary too he's the leader of the free world okay time to go time to go nuclear time to go nuclear uh who's joy thoughts. Who here was so retarded over the last four years that you were one of these people parading around, not you, royal you, saying that there's no such thing as the deep state? Raise your hand. You're a fucking idiot. the same group of people talking about with, you know, piss in your pants, get in your underwear and tears rolling down your face. That democracy was at stake at January 6th. Raise your hand. You're a fucking idiot.

Who here was among the people talking about how Joe Biden was sharp as attack top of his game, ready to roll, engaging with Putin four years ago up until a week ago. You're a fucking idiot. You guys are so dumb. You're so dumb, okay, that you are carrying water for a party that is clearly worse for the country culturally, clearly worse for the country economically, clearly worse for the country on a global stage, and clearly worse for the country in terms of the future

prospects and their continued domination and empire. But you carried water for him, all because what? The other guy had a couple of mean tweets. He cheated on his wife. In the real world, okay, where participation medals aren't handed out, where instead, if you're losing in a diplomatic instance, you have to send your young men into the fucking meat grinder to try and preserve your way of life. You need someone with a little bit of edge. You may not like the way he speaks. You may think he cheats at golf.

You may not like his haircut. You may wish he got shot a week ago, but you need that guy right now to preserve your way of life. Period. End of story. Harris is incompetent. She's never been elected to any real position of power. She didn't get any Democratic support in her run in 2020. Didn't get any support in terms of, do we think this person's a capable candidate in any polling up until

a day ago, if those results are even legitimate. God only knows the polling in that country is completely off the reservation. Is perhaps most famous now for this four-minute clip where there's at least 40, 30 or 40 times she said something about being burdened and unburdened. And the same, this person is a vacuous moron. And if you think, okay, in your heart of hearts, not just something you have to say at a dinner party to make sure you get invited back, not just something you have to say at your PTA meeting so the other parents don't hate you, not just something you have to say to your neighbor so that they don't key your car.

If you really think in your heart of hearts that this person is better for the country than Trump, you're beyond saving. I said this to my dad last week too, and I'll say it here now. Trump's ticket, okay? The JD Vance ad, a lot of people saying, oh, it doesn't really do anything for him. It's another white guy as if anyone should fucking care about these people's skin colors. Another white guy, he's a crypto bro. He's a tech guy. He old money he's you know whatever the thing that trump understands okay is that there is no pulling this other group back from the depths you're never going to get back the you know the walrus writers uh the lead podcast hosts here in canada uh i don't know what's a good example like kara swisher's never voting republican rachel maddow's never voting republican her listeners her viewers you know kara's listeners and viewers olbermann's listeners and viewers

you know joe scarborough and mika uh scarborough I guess her last name, they're married. You're never getting those people. So to me, this is an Isaiah's job moment for the Republican Party. You are never going to convince those people to vote for you. Fucking forget about them. You don't need them anyways. They're not net producers. They don't add any value. They're pillow screaming, piss in their pants, shit in their underwear types.

They can't be relied on when things get difficult. You got to rely on people who understand the mission and are in it with you to win it. And in that story, Isaiah's job, that article from the Atlantic 1936, I'm pretty sure, go read it if you haven't. It'll take you like 10 minutes, maybe a little longer, depending on how fast you read the whole point of of these like big moments and this is a big moment again like i don't often say like oh this is the most

important election ever but fuck this one might be at least in my lifetime over there you know like there's a lot of stuff going on now that wasn't going on even four years ago. The whole point is to find people for whom you do not need to water down the mission to garner their support because those people will never support you when it really comes to crunch time anyways. I think they get it now. Bitcoiners have understood this for a long time. Don't water down the mission. These guys are starting to get it now. Bitcoiners have understood this for a long time. Don't water down the mission. These guys are starting to get it as well. They're not worried about, oh, we got to bring

in people from the left. We got to bring in people from wherever. And you know what? It's working. Okay. Look at the tent the Republican party had at the RNC. The fucking Teamster guy was on stage, Len. When was the last time you saw a Teamster rep? Never, never. And so you can say all you want about Trump's incompetent, Trump's rumbling, Trump's this, Trump's that. Trump's fucking winning and you're fucking stupid. You got to get on board with this guy. It's clear that he's starting to bring in people just on the grounds of we're not going to compromise the mission to bring in people who don't like us and won't fight for us. But if you think that you want a party that will fight these battles domestically and internationally, I'm your guy. And guess what? Okay. It looks like

it's working. As far as Biden, who is still in the boat, in the camp, that this guy was competent over the last four years? Like mentally competent, had his faculties. Who is still in that boat? These people can be discounted as stupid. Okay. Get rid of them. We don't need them. Who is still in the boat that the Democratic Party is the party of the people the party of the working class the party of the the needy who is still in that boat discount them we don't need them either right to me the the most disappointing thing about the coverage of this and the response uh you know to biden dropping out having a bad debate, all this stuff, is that there's so many people, Len, who still with a smile on their face and a, you know,

elephant or whatever their party symbol is, 2024 on their t-shirt, you know, who can't squat 225 pounds, no fucking chance, saying that no matter what happens to Biden, they will literally vote for his corpse before they vote for Trump. It's not the Republican base who's the problem. It's that person who's the problem. It's that person who's become too tribal. It's that person who's become extreme. The other side is not extreme. I said this before on this show, and I'll say it again.

You can only call somebody extreme right if there's not some huge number of people, relative to the total number of voters, total number of participants, total number of whatever who support them. And Trump is no longer extreme on anything, on anything. It's the other party that's fallen to the extreme. And like I said, there are things about Trump you may not like. God knows there's things about that guy I don't like. But the idea that you could, with a straight face, tell me that you think the other party is better in the current moment, it's just objectively wrong. It's objectively wrong. There are hard decisions to be made that one party seems unwilling to make. And it's not like I have to read minds to figure this out.

How many times we talk on the show about how much money the Biden administration printed? How many times? They all have done. I'm not going to just say- He printed more than any other government ever after COVID with the stock market at all-time highs and unemployment at lows. What did it get him? Fuck all. Tons of inflation, tons of problems with housing, tons of problems with immigration, tons of problems in his own party, and a less than honorable discharge at

the hands of Nancy Pelosi, who is, I think, older than he is. Thanks for your service. She's an early lady. Thanks for your service, Joe. You're missing the acceleration, though, Joey. We've lost our way.

Yeah. And we got to continue on with the acceleration, right? I just don't. It drives me nuts that people are so blinded by their party allegiances. And it's easy for us to say maybe because we're Canadian. No. Have you been watching Normie News? Not really. I don't know but no have you been watching normie news not really i don't know like what have you been watching i watched a bit of the i watched a bit of the um

uh the convention but um that was about it that was about it i've watched yesterday when biden the announcement came out that biden is not going to be moving forward with his candidacy so and i punched it on cnn and i forget what other channel too either way the the talk over on some of those channels was that he is a transition candidate that he was there that was why he was there initially elected so that the justification is he wasn't there gonna wasn't going to be there for the long term and now it's time to pass over the torch to somebody else who could carry it for the next two terms and then beyond that we'll see well you know tds right that's what they have

god i know it's so embarrassing it's so embarrassing the ai biden stuff the call so he calls are we gonna play it yeah fuck it why not i mean it's like four minutes i'm not gonna play it i gotta find it um you played it for me before is it i know you want me to play you want me to play it from my phone yeah i'll play it from my phone i don't care just for like a few seconds like i don't know it's just make it i mean let's we should is this real yeah we'll preface this with you know people have not seen this guy since he put out this staples letterhead resignation you know letter is letterhead resignation letter. Is it a resignation letter?

He's not really resigning. He's just saying he can't run again, but he's going to keep the White House. I mean, you make what you want of that. His brother was talking that he was disillusioned because of health reasons. Something medical happened, yeah. So this is Biden allegedly calling into a harris campaign event you know two hours ago you make of this what you will i i don't know what to make of this but i'll play it for you guys now president biden calling into this campaign event

out of people's hair for the next three or four days, but I'm going to be on the road. I'm not going anywhere. It's kept me away a little bit, but I want people to remember that what we have done has been incredible and we get so much more we're going to get done. So I want to say hello to Kamala. She can hear me.

I know she's going to be speaking shortly. And I want to say to the team embrace her she's the best it's kind of like he's in a cb radio everybody you know yesterday's news is surprising does it not sound like does it not sound like a recording like he's talking through the applause yeah you know it sounds like a cb radio like if he's like yeah this is uh sleepy joe here i'm just calling for the basement. I got some horse pills. I'm going to be back in the office next week.

If anybody sees Ms. Montel, tell her I said hello. Over. Sugar service. I'm going to get a car and a Paxil for the president. 46 is the problem. It sounds like they could have done a better job with the audio oh my god

so like how this is like is there a future for absolutely if the dm's oh fuck i don't know len listen i i i continue to be just like hypnotized by the US political event calendar. It's been incredible. This guy, and Zero Hedge tweeted this out today too. He's like, everyone knows where this guy is. He's at his beach house in Rehoboth in DC. There's no one in front of the house. CNN, no camera there.

NBC, no camera there. NBC, no camera there. Fox, no camera. PBS, no camera. Where is the camera on the house? It's the guy with the GoPro. Do you remember CNN? Do you remember CNN? I think it was CNN.

It might have been MSNBC. They didn't see Melania Trump for two days one time this like Stormy Daniels thing surfaced. They had a tracker, like the COVID cases and death thing for the days since Melania Trump has been seen, like a fucking OSHA safety board, you know, days since the last sighting. She's not fucking Bigfoot. She's the first lady. Like, you know lady. You guys are really tracking her. And now you got this guy who's, I guess, alive. I don't know. I said to you before the show, and I was saying to our buddy Scribe and SB before, I would have said 10% chance if you'd asked me three hours ago, is this guy dead? No, he's not dead. 10% chance, whatever. Now, I don't know like am i 40 50 like the phone call

and then there's this other story that he was like rushed to the hospital in las vegas did you see this that's an odd one like how did no it was a las vegas um journalist someone someone is it charlie kirk or whatever had a source i mean look i don't watch vegas tribune or whatever yeah i don't i don't like i don't like listen to or follow a lot of these sort of you know like tweet click bait uh tweet bait right wing influencer types like but like where's the rebuttal what i just we just got finished saying that this guy was as sharp as he's ever been and now you can't get him out of the house you can't put a fucking camera down there where's dr jill she's a doctor isn't she can't she what did she make the wrong type of doctor

oh she's not a real doctor okay come on man oh no she's a phd in what did you say education education which yeah whatever the markets if something does happen to him it's and you know it's officially announced we get word the markets are gonna fucking tank as a result there's there has to be a drawdown in all the markets and then maybe it'll pick up quite a bit afterwards but initially there's going to be a reaction might be a good opportunity not financial advice to buy do your own research i don't want to do this what do you think happens next in this buying thing you're always just reading the stories and setting me up to say something stupid what do you think happens next i'm debating if he's still around so i? For sure. I don't have enough evidence to show he is.

You're hearing all these stories. And, you know, as I mentioned at the top of this story, we had the letterhead, the signature. Now he's just not being seen. I mean, he has COVID, right? Granted, he's's older but can't they thousand boosters like pax levitt he's got it they're giving it to him like pez like what are we talking about you can't can't he be like in a mask on a window and waving

whatever exactly i'm with you on that like god how how is this possible? So that's what I'm wondering. There's so much that's going on here. I just don't know. And to be honest, by the time this airs, the audio side tomorrow morning, probably we'll know for sure exactly what's going on. So we might look like absolute idiots. I never look like an idiot. Sometimes I do.

That happens. My dad tells me that I use inappropriate language on this show, and it makes me look dumb. But I'm heated because I'm just so sick of being right and pretending I'm not. Don't you ever feel like that? At this point, I really don't care. Honestly, the only thing that matters is how many stats do I have. That's it.

Do I have more? Yeah, I'm happy. The rest, I don't give a shit. I don't know. Everybody's healthy in my family. Great. Let's keep what else you want. Yeah.

What else you want to talk about? Well, Biden was talking about and doing a cap on rent. Five percent nationwide. You hear about this one? So rent control measures, rent control, like anything with price control. It seems to be. I don't know. It's their favorite thing. They control. They want to control everything seems to be i don't it's their favorite thing

they control they want to control everything except how much money they just hand out to you know so illegal immigrants or whatever i like i tried to look into this like think about this the president of the united states or a candidate that was trying to become president of the states had an idea saying okay we're gonna do to do price control for rent 5% nationally. I'm thinking, how the fuck could you do this? How could the federal government in the United States impose this type of measure across all the states? Apparently, there's a reason they could do it.

There's a potential way they could do it because it's going to be capped for landlords who have 50 units or more. So we're talking about buildings, right? And they say that if corporate landlords increase tenants' rents above 5%, then they would lose the ability to write off depreciation values, which is very important. So that's how it's done. The IRS is not going to allow them to write that stuff off.

So that is how they're able to do it. I was figuring out how the fuck, well, that's it. And it makes sense. Is it going to do it. I was figuring out how the fuck, well, that's it. And it makes sense. Is it going to go through? I don't know. I'm probably going to say no. And I kind of hope it doesn't because in the end, I understand rent is going up. People are struggling to pay their rent.

But there's somebody on the other side that's collecting the rent that has to pay for all the bills. Mortgage, granted in the United States states mortgages are for 30 years but that guy or gal still has to pay for the mortgage as well maintenance maintenance hasn't gone up so when you have to replace something it's not the same price that it was 10 years ago we're talking 2024 everything has gone up so there's a reason why rent has gone up granted you know there may be some gouging i i'm gonna say maybe maybe not. But man, oh, man, price controls. This does not lead to the result that they want to have. I hope this doesn't go through.

Where do you get the 5% number? That's a really good question. I don't know. What do you think? A poll. He got it from a poll. He let people who need rent controls decide what the rent control should be capped at. So why did he say like 1%

because they want it to happen everyone is kind of like massaging into this zone where it's possible that they get what they're looking for and then that's the 5% number it's crazy it's crazy that we are in this situation where Biden

like talk about talk about a bomb on the way out the door. Like, here we go. We're going to start, we'll have, we'll instigate a war with Russia. We'll cap rents. We'll print, you know, a trillion dollars every hundred days or whatever, make it to the debt, uh, debt services higher than the defense spending. Talk about it. That's a, you know, what a way to make an exit that's not an irish exit i'll tell you that everyone knows this guy's been doing on the way out it's not great it's not great oh i love it i love it there's a i mean i'm not gonna talk too much about this but philadelphia

there was an fucked up story his mother was pushing her child in a stroller yeah some dude did you see that like i saw the video it's insane fuck is going on man it's insane that guy'll be out that guy'll be out in a second right he'll be out uh you know i think it was was it a woman it might have been a woman actually because i heard the voice the guy kills i think he kills the kid or she kills no i shot in the leg the leg and uh stable condition yeah and the lady's like my baby and the other woman with the gun yells out fuck your baby like okay nice philadelphia cool this is what that's the city of brotherly love that's just it was it was no longer all those zombies you see like the people over there hopped up i don't know what drug it is but either way they're just walking around like it's the walking dead fuck what a disaster it is and it's it's

everywhere man did you see the clip of um i don't know if you want to go to notable north but the uh jeez i think it was brampton or oakville police chief talking about uh car thefts yeah okay let's talk about that so give the clip give the clip no i don't i gotta find it clown world so this is the chair of the peel police services board this is nando ianica and he was on camera talking about crime and how some folks are taking it to the next level and he was talking about some people who came to court because they were caught for stealing a car i don't know the details about it but apparently the judge let them go so either way as soon as these folks were let out of the courthouse what did they do they were noticed

that they were trying to steal a car out of the courthouse parking lot so no more than five minutes after being released and saying, okay, this case will be thrown out. People were doing the exact same thing. They were charged and brought into court in the first place. It seems like it's a California level story. There he is. Let's have a listen to our buddy here. This is nuts. It sounds like a joke. We've talked about the problems with the car thefts, but actually happened here in our GTA jurisdiction, some guy's up before a judge for having stolen a car,

gets let off and went into the parking lot of the courthouse and stole another car. You can't make this stuff up. And that's what gets people frustrated. But can you imagine what it does to our enforcement people that say, here we are doing what it takes, the countless hours, efforts, energy, risk, and then we find out it's a bit of a catch-and-release system.

I must tell you, because you asked the question, I'm glad, it is top-of-mind concern for my council and our mayors that everybody involved from the federal government on down needs to have a cold, hard look at what it is when we allow people who are the perpetrators of crime to freely go out, and the record shows, commit more crime while they're waiting for a hearing date. Something's got to give there, and my heart goes out to the victims and to the people in uniform that say they must want to beat their heads against the wall when they get home some nights

and say, what is the point of this if I know these people are back out on the street? So thank you very much for your question. I know it is being reviewed in earnest, but we need stronger results on that file, especially from our federal partners. Thank you. Couldn't agree more. What could you say? Yeah, I'll tell you what I think. I think that at some point we have to admit that the catch and release thing doesn't work, that rehabilitation is not an option for some people because their character simply will not allow it. And this goes doubly for the decriminalization of drug use, which I think is also being floated by the current coalition government. And I've done some work in these communities for, I don't know, more than a decade now. Wow. I think I started with Wayside when I was like less than, I wasn't even 25. Maybe I was 25.

I don't know. I forget now, but more in the other side a better person. There are some who simply don't have that chip in their character. And at some point, Canada's got to look itself in the mirror and say, what are we doing to protect the people who want to build something in this country? If we are letting people who seem to be beyond rehabilitation back into society over and over and over again to commit more crime. And like a car theft is a sort of a low level crime. Broadly speaking, there's not a lot of not a lot of harm caused by that harm you know but you know murder is a different story drug sales

weapon sales uh those car thefts though joey sometimes they break in people's homes in the middle of the night and it yeah i'm with you terrorizes i'm with you the people there so i'm with you yeah no you're right it's a good point uh maybe i was too soft on that but in in my view there's a shortcoming here and it's not just here it's in the u.s as well again not to go back to this one party or the other one political ideology or the other but one side of the spectrum one side of the continuum is against this sort of thing. One side is for it. There was a time when some of my liberal friends would make the case, well, we can't put everybody in jail.

It'd be too much money. It's cheaper to rehabilitate. I'm not fucking sure about that now if the cost of society is greater to keep having this happen communities where this happens um you know there's a a city in baltimore a neighborhood in baltimore where i believe there's an app i gotta look into this story there's an app where it tells you how many gunshots were recorded in a certain neighborhood over the course over the course of about a year It was as many shots as there were residents. So the feedback loop there in a sane society would be to add policing,

double down on enforcement, triple down on punishment, and make sure these people are put away. The solution they came up with instead though was uh oh maybe it's birmingham it was actually birmingham alabama now i think about it i think i gotta look back into that but um the reaction from the community land from the politicians there was actually to restrict vehicle traffic so that people couldn't just drive by and fire indiscriminately out of their cars smart right, right? Yeah. This is the kind of thing you're up against if you're a thinking person. You have communities where this stuff is rampant. It's getting out into the sort of broader, well-meaning community. Great example, a friend of mine who I won't name

in a city very near here, toward, toward Toronto was at swimming lessons with his two young kids, both under five. And while he was inside with swimming lessons with his kids, the cohort that was coming out, uh, who swam before them, uh, one of the women leaving was confronted with a weapon and carjacked in the parking lot of the community center. You know, what's the, what's the feedback loop there. Do you think that guy gets picked off, goes to jail and people say, oh,

police don't do anything. Why the fuck do you think they don't want to do stuff anymore? Because they're the ones who are putting themselves in harm's way. As Nando said, they're the ones who are, you know, going out, leaving their families every day and getting involved in dangerous

situations for what they think is the benefit of the community, only to have some activist judge who's never been in a dangerous situation, who's basically a bureaucrat, tell them that, or tell the criminal that, you know, they need to be rehabilitated and have to go free. Go free until your hearing. We trust you won't do anything again. Good luck. If this stuff was happening in the communities where these judges lived, this has never happened. And we know this to be the case because oftentimes, as we talked about dozens, if not hundreds of times

over the last four years on this show, almost every major protest demonstration, violent incident, mob rule, whatever, ends when it gets to the politician's neighborhood because they put a stop to it. They don't want to see it. So at some point, then something's got to give, like he said. I totally agree with that. I don't want people to be vigilantes or anything like that. Don't get me wrong. But it's hard to really find fault in that way of thinking. You spend your whole life building something. You build

a community you're proud of, a neighborhood you enjoy, a family you want to protect and nurture, and you get low-life criminals rolling around, stealing cars, making noise, causing problems. What should you do? Should you put up with it? I don't know. Drive a beater.

Yeah, maybe. I mean, that's the thing, right? The reaction is always on you to execute, right? It's never on the person who's causing the crime. It's effective until it's not, right? It's effective until it's not. Make sure it has that third pedal too, because it lets people know how to drive stick.

So if it's a beater with a stick, you got a good chance. You can leave the key in it. Nobody's going to fucking steal that guy. You're good to go. Bank of Canada, they have June or July 24th. By the time this airs, because CPI

was 2.7 in the month of June, went down from 2.9% from the month of May. At least in that respect, it's trending in the right direction. You're saying it's going to be a cut, right? 25 basis points, I'm guessing, is guessing is your 50 50 wow that's significant i have no fucking clue whatever happens happens i'm just an innocent bystander they're doing they're doing 50 the data is only

narrative forming it's uh i know you don't like when i use this word it's fake there's too many mortgages coming due this year and next year uh it's going to be real kick in the teeth to go from 1% or 1.25 or 1.5 to 5. And they got to get that rate down to something like three, which still won't help that much. I think every quarter point is 50 bucks on every 100,000 in mortgage, something of that nature. I forget exactly what the number is. So it won't help a lot of people a lot. But when everything else is going up in price, you really need that nature. I forget exactly what the number is. So it won't help a lot of people a lot, but when everything else is going up in price, you really need that support. Not to mention that

property assessments will start up again, probably end of this year. So I think they've been frozen most places. I know here in Ontario, they've been frozen since 2019. So your house is being taxed at the same value it was five years ago. Almost no houses are the same value as they were five years ago. I have a friend that built a home in the past few years and he had MPAC come by to do an assessment. An incredible amount that he's paying property tax. Anyways, I'll do one last story. Sure.

For Jay, this is that segment, by the way it's okay it's the re-branded it's something else it's re-branded friendly now family friendly now advertiser so ctv story i shouldn't say i shouldn't say the advertisers have never given us any creative direction no no no yeah more family more family friendly yeah our own discretion ctv story came out about a new homeowner named vanessa hartman and oh this story is terrible miss yeah it is so miss hartman she's facing foreclosure on her home because of a series of unfortunate events two years ago she bought a home in jasper ontario i think i got that correct and the house when she bought it was at a time when the market was absolutely hot and there was lots of bidders.

And in fact, she paid $200,000 over asking. Seven months later, after purchasing the home, her job, her high paying job at Microsoft was lost. I don't know the nature of it, the story behind it, if they were downsizing or I have no idea. Either way, she no longer has that job. Also, compounding the problem interest rates went up you know you could fill in the blanks here right what's going on she couldn't sell her house defaulted on payments and what resulted well she's facing bankruptcy and she just basically handed over the keys to the bank it's a very sad story and on top of that she has

no lawyer she has no legal representation to represent her for her bankruptcy filing. So she is up the creek without a paddle, and she's getting no help from anyone. So I just want to say this is a very sad story, but this is a result of the economy obviously not doing all that well, prices of everything, including mortgages, going up substantially. And she's not able to make ends meet as a result. So very, very sad story. This could happen to a lot of people out there. So watch out. Other side of the coin, the messaging has been that our GDP is extremely strong.

We're on track for the most growth in the G7. We are benefiting from strong policy decisions that have brought inflation down. It's resulting in rate cuts. What actually causes rate cuts is economic weakness. And what actually causes cuts at the speed of 50 basis points a meeting is the fear that if you wait longer, you'll get a prolonged recession, a hard landing, as they used to call it. And I think that we're there now. I don't think there's any doubt about that. Stories like this are kind of shitty because the lady seems to be quite competent and just found herself in a world of hurt. And I see on Reddit people saying,

she took on more than she can afford. Not really. Would people say that about you if you lost your job? I hope they wouldn't because everything is more than you can afford if you don't have a job. And you kind of rely on some stability in your life. And actually, one of the guests we have coming on is going to be talking in depth about Canada's lack of family formation and low birth rate over the next few weeks. And I think one of the points he's going to make, and one of the things we talked about when we were talking about him coming on, was almost exactly this, that people are stretched to the edge, basically, just living on what was, I think, considered standard expectations for life 10 years ago. A house, a dog, a kid, a husband, whatever, a job, a car, nothing fancy. But when

things get sour and when inflation runs rampant and when there's no consistency in policy expectations, you get problems like this. And Len, I bet you that story is a lot more common. I'm not sure how they found this particular woman, but I bet you there's a lot of people who are going through or close to going through something like this. I wish her the best. I wish all these people the best. And I think that overall, all you can do to prepare yourself is to really underspend every time you can and not become a widget enjoyer just because things are easy.

Because they're not guaranteed to be easy all the time. Strap in when things are easy so that when things get hard, you have a little bit of cushion. That's the most important thing. That's it, Joey. That's it. That's it for the show. Good night and God bless. See you tomorrow.

Professor Michael Geist coming on. Looking forward to that uh yeah until then take care of yourselves and don't be a cock