The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #175 - The Market Crash of 2024

Episode Date: August 7, 2024

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105.53. Okay, let's get fired. Where do you want to start? Let's recap what's going on in the world. So we started off late. Let's go a little heavier here. So we had the Japanese market this morning, last night, whatever the fuck it was. It was imploding.

And this is all because the Bank of Japan decided to recently increase rates. And why is this happening? This is from what I gather. People, correct me, you too, Joey. People were short the yen and long US dollar slash. Kind of. Kind of. So this is something called the carry trade.

I tried to learn about this today. I don't know. To me, it just sounds like the Japanese interest rate is zero, right? No, no, no. It was negative for years. Right. So the money was free. So the money was free.

And so you borrow in yen. You change the currency to US dollars, let's say, and you invest in US equities, other stuff. And then the money's free. The problem is that when you're levered to the tits on the carry trade to the tune of, some people are saying $20 trillion are out there floating around on this trade between the Japanese government and other people and other entities, whatever trillion is that a lot i don't know someone talked to me is that a lot will that fit on the block i doubt it and so the the point is that they raised rates i guess somewhat unexpectedly last week a quarter point twice this year joey yeah twice this year they've raised rates once zero slightly above zero yeah and then so it went for years being

negative to the then being uh-oh it's not negative it's no longer basically risk-free as raoul paul would say there's now risk involved and shit starts to unwind right like how many fucking times have i said that japan was the canary in a coal mine what did i say it doesn't two dozen i've said it enough times do you know fucking it i know i want to get a canary i want to give you your flowers i said this to mark yesterday too you know who jeff gunlock is the bond king as mark reminded me i've heard that name before uh do you know what he mentioned on msnbc or cnbc i guess their financial arm there after the Jerome Powell address last week, the interest rate announcement last week.

Do you know what he mentioned in terms of not believing the economy was as good as Powell was saying? No. Food bank lines. You've been talking about food bank lines on this show for like a year and a half, saying you just can't fake this. The lines are growing. It's a great metric. like you just can't fake this the lines are growing

more people using food banks yeah you can't fake it it's a visual yeah that's what he said too that's what he said too he's like he's like everyone can see this everyone knows this is happening and you can't bury it in like hedonic adjustments if you're in line for the food bank you're in line for the food bank that's it that's all so so kudos but anyway yeah yeah go all roads lead to land people that want to walk it great people that don't fuck you eventually you will so let's move on because what's happened with japan the disease is now spreading to other markets how the fuck warren buffett knew and acted upon this beforehand he could he's either a fucking miracle worker and an oracle as people call him or had some inside information i don't fucking know but something seems a little suspect over there either way fuck him are you convinced the japan

thing has been the cause of all this other meltdown stuff like i don't really know i was talking to alex from bull bitcoin today about this a little bit along with the other bull bitcoin guys and some other chats i'm in everyone seems to say it's that but is it that is that the problem like again you could really go go further back to 1971 probably this is it right but it's it's like people are blaming when ferdinand was shot and that's the reason why they went to to war in uh world war one well there's a whole bunch of other reasons too that brought them to this point so that may have been the powder cake that went off but you can't dispel everything that went up up until then so the same thing with this this might be the powder keg that just fucking goes off but a lot of dominoes

were lined up perfectly beforehand and you can't it's like it's that domino meme right like get going off the gold standard yen imploding that's really bad it's bad iran now we have like these motherfuckers they mean business they're saber rattling right now like they're not talking buffalo sabers we're talking fucking real fucking things out there so they seeking vengeance because hezbollah military chief was killed as well as the hamas leader this was in tehran is this a crazy story or what this this story about how that guy was killed is insane have you heard the story yes and that shows like these guys are gonna fucking sorry there's a potential these guys could fucking retaliate to have something like this happen on your own soil you're not gonna let this go because you're gonna have to at least there's

the opportunity of showing some some strength here and say look we're not gonna let this go because you're going to have to at least there's the opportunity of showing some some strength here and say look we're not going to let this happen again the tweets are pretty nuts like that's talking about unprecedented responses over the next you know 48 hours or something it's i think by wednesday i mean are they using are you are they using the outlook like uh scheduling assistant when they're deciding when to drop the bomb like it looks like you're unavailable tuesday and monday what about is Is Wednesday a good day to start a war with you? It looks like you have some availability before lunch. Do you need a bio break in between that meeting and the war?

Let me know. Please respond. Thank you. Talk to my executive assistant. Let me know. But it's going to be translated too from Arabic. Or Farsi, sorry. Farsi.

You're giving it away. You're giving it away. Di giving it away so yeah diplomacy is now long gone i think we got to the and the only person that may have been able to do this would have been the iron sheik but that guy is now long gone and enjoying the 72 what about sheik roberto is he up up to a task he's now a motherfucker i'm not sure if you heard about this but he he's on the nd nft bandwagon is he no he's doing right no too bad yeah so insta fought insta unfollow fuck him all right make his money there but i'm never gonna mention him again fuck that prick anyways there's the story floating around that israel may even do a preemptive strike so that you hope you hope you got your lT shares sitting in your TFSA, because I tell you what,

someone's got to be... You're not going to get it out! Your TFSA is locked! You think you're going to be able to get your shit out of there? They're going to close all these accounts, or sorry, stop trading and shit like that. The only thing that's going to still be traded is Bitcoin. I can trade peer-to-peer Bitcoin, and no problem. The network is still going to run, as long as you have

one miner out there. Possibility for sure, buddy. I'm with you on that.'s you know definitely a chance there's so many variables out there that we're getting closer to world war three but you know what in my regard like for me i'm too old for a draft so i could you know look in the sidelines and watch what's going on so what is the limit i mean some of len have you seen the ukraine war they're dragging guys older than you the front line to the meat grinder there. Don't get carried away. By the time that happens, I will take care of business. But no, in previous wars, it was 18 to 45 was the age in which they conscripted.

Wait a minute. When you say take care of business, are you talking like leave the country or like self-checkout? I'm not going to say what. What are we talking about here? I'm not going to say what. But if push comes to shove, right? Like knocking the door. What do you mean there's nobody home? San Salvador what's going on so let's get closer to home because with all this

shit going on you know we have markets imploding too not just abroad but also domestically and you know we have this pending global war xy dominating xx in the boxing realm we have us it's true right we have us out there the strongest military in history they are a controller of the u.s dollar that's the strongest currency in the world and one can make an argument that they're without a leader yeah right like think about this like the dude in charge is on his way out the second in command wants to be the person in power but she can't the last thing you want is to go into war and have kamala sutra running the fucking show like it'd be it would be a fucking disaster can you imagine the press conferences just unbelievable it'd be a fucking mess well to her credit she's trying trying to be the person in charge,

but there's still some hoops that need to be jumped, and she's got to jump through them in order to get there. So, you know, if I'm looking at it, you either have person A or person B that's going to be leading. And person B was almost assassinated not too long ago. And even though my Google search doesn't show up, I saw what happened in the news, right? So all I say is the economy,

it's still growing strong, Jack. Like every time I listen to the guy, I I'm always comforted. The fact that things are going, sure. You may not buy, may not be able to buy tomorrow's food,

right? You're a mission friendly car. Might have a check engine light. Here's why that's how it's. That I think that's a very good thing. Mine has been going on for decades. Now the house that you want to buy, it's been mine has been going on for decades now the house that you want to buy it's been bought by blackrock that's long gone so now you're gonna be fucking

renting forever the orange guy supposed to tank the economy supposed to go to war but he's not even in power and this shit's going on right now right like whatever the fucking economy the u.s jobs are at the lowest level since 2021 and it's been trending downwards for 23 straight months so jobs created by the private sector have been slowing down why does this matter these are jobs that are created simply for economic needs and it's not generally impacted directly by government spending and that's a good metric you look at what the fuck's going on with the economy what's going on around the economy is going bad war is imminent economy the markets are crashing but yet we sit here we're doing the show what are we doing we're talking about bitcoin that's right it's all about bitcoin

eating nachos talking about bitcoin listen i don't know what to say about any of this stuff except just strap in like we were talking before the show okay about just how nuts everything seems and how everything is kind of just someone is agitating someone else everywhere you look. Whether it's this person with an XY chromosome. Are they saying being a male is a rare blood disease now? Is that what I'm seeing online, that having an XY chromosome, you can still be a woman? I don't know, man. I don't know. I'm just- One is beating up the other. All I'm doing is asking. And the reason I'm asking is because I think that what you're seeing, to your point about the Google search and all this other stuff, is an intentional obfuscation of the facts. It's happening everywhere. These screenshots, QTR had a good one, actually. I can't remember where else I saw a few good ones, but his was good from last week. You can type in Trump assassination and get Kamala Harris campaign news and your results and nothing about the Trump

assassination. Try to find that picture. Let's try it right now. Let's have a good time. Let's go to Google. Did you see the truck you got, by the way? I did, from Aiden Ross. I got to watch that stream. Apparently, it's really good. Pablo from Bullbickham was saying the stream was fucking awesome. I got to watch it. The clip was funny when you got the truck. As a side note, Kamala Sutra could never do that. She could never hang with a streamer

without a script for an hour and just bullshit back and forth. Couldn't do it with Bryson DeChambeau. Couldn't do it with a streamer. Couldn't do it in a crowd. Certainly couldn't do it with Bryson DeChambeau. Couldn't do it with a streamer. Couldn't do it in a crowd. Certainly couldn't do it with a hostile media, though she'll never have to worry about that, thankfully. Trump assassination.

Let's see. Trump assassination. Here we go. The top result. Trump baselessly blames assassination attempt on Democratic messaging from one day ago. Attempted assassination of Trump, blah, blah, blah. There's no pictures about this.

And then basically the second thing, the second tranche of results, the interview, Pete Buttigieg thinks the Trump fever could break. What we know about the assassination attempt, blah, blah, blah. There's not much here in terms of photos. It's largely being memory hold. Where's the picture? Doesn't everyone just want to see the picture? If I go to images, do I get the picture? Thank God, at least that's still there. But what is that line from 1984? The last instruction from the state was to ignore what was right in front of you and believe them instead something like that something to that effect it's just it's happening all over the place man and uh i don't know i just i just enjoy the ride at this point you know yeah we're in so many we're in so many good group chats with so many you know fun people

people we really like and have gotten to know over the years through the show and everyone's on the same page it's like finding your uh it's like finding your your tribe here we go boom dust in the chat zero hedge let's put it up circuit breaker triggered for nickay 225 futures nickay futures trading suspended after touching upper limit we are having a time let me tell you we are having a time now they're limit up bled what's going on over there what is that same bitcoin had a circuit breaker trip uh i don't know i'm still waiting for that answer okay can you guys stop trading now anyway what are the stories we got thank you another story let's get let's get notable here well pentagon they found

another two billion dollars that could be used to help ukraine i'm not sure you saw this one so this is latest because it's due to an accounting error more than anything. And last year we talked about something similar. $6.2 billion was found last year in June. And that was due to another accounting error. Where do they find it? Like it's behind someone's desk? So I can tell you. What's going on?

For example, like 10 vehicles. Is it a check? An unsigned check? No, no, no. It's the way in which they value stuff that has been sent or not sent. So this time around, 10 vehicles, for instance, were incorrectly valued at $7 million compared to the zero net book value that it actually has. So it's all just accounting stuff, right? The truck may exist. It may still work, but it's valued at zero.

Oh, man. So that's really how it is. So there's going to be some lower that's really how it is. There's going to be some lower that's going to be sent over. And yeah. This cup has water in it. It should have vodka, honestly. Someone explain to me

how... Yeah, he's just a little drinky poo. Someone explain to me how these guys are to be taken seriously anymore. Explain it to me. What am I to make of all this a couple billion here a couple but yeah you can't afford food of course yeah definitely not oh i mean the health care system is broken entitlements are done toast finished you know

boiling on the side of the road and but the good thing is like what you're giving is i mean the good thing some people have the notion it's money that's being sent over there. It's not, it's really just supplies. And there's a value of ammo or equipment or shit like that. That's what's really being sent for the most part. Yeah. So, and that's what, when they send, we're sending over X amount for aid.

That's the aid they're sending over. So, and what they could do, then they can replenish the supplies here because that stuff is near end of life and they can get some new equipment and just replace it it's kind of an easy way to do it i'm not trying to justify it but that's essentially what is follows the tax write off buddy it's just creative creative accounting but still instead of i guess selling it or surplusing it somehow and recouping it or maybe even scrapping it and using some of the parts. They're not doing it. It's being sent over to the war to be used over there.

And that's essentially how it's being done. So in the, you know, if you're on the surface, it looks funny that you just found $2 billion, but funny is one word that you could use. Yeah. There's some other ones,

but funny is one of them. Yeah. Yeah. Looks funny. All right. Yeah. It looks pretty funny. It looks notable. that's what it

looks like let's do it cbp chicago style here because chicago keeps delivering right and i i before we go there since we're talking chicago big congratulations to steve mongol mcmichael for being selected to the pro football hall of fame unfortunately als it's taking a hold of him he looks terrible terrible picture but really a nice moment for his family i think yeah yeah yeah but anyways back to the story this is about a gentleman by the name of sean hill not the former defenseman for i think he played for anaheim but this is just a random dude in chicago named sean hill 54 year old guy this guy was arrested 75 times since 2015 75 but in his mug shots are world

class like one of them he's you know smiling another one he's giving a thumbs up so it's really good stuff but i don't want to poke fun at him but rather to assist him and the reason why because the police department described him with untreated mental health issues and they have uh his hands have even been mangled by frostbite. He's been out in the cold. Chicago's notoriously cold in the wintertime. So it's a sad story over here. But a guy that needs help but probably won't get it. Not because I don't know if he's trying to get it or seek out the help, but it probably doesn't even exist given that everything is stretched so thin.

But last week, Mr. Hill was caught by the police for theft. They processed him. For whatever reason reason they decided to release him i guess because it was a misdemeanor anyways less than two hours after release well arrested again for assaulting a 39 year old this shit just keeps going on there's so many people like this in this situation that they have mental health problems and for whatever reason they can't get that's him and and again i don't want to make poke fun at him like the guy he's got mental health issues and he's got frost frost sorry frostbite like on his hands and fucked up his hands so this guy's in a bad state mentally and physically and you know what there's a lot of people like this

and it just it's gonna just grow and it doesn't help out the environment because this guy goes out there assaults somebody and then that person now is traumatized and just this shit just spirals out of control why because you know what they're spending money on everything and there's not enough that could go for people that actually need it which is too sad i have no additional comment to this we've talked about this so many times that the state has so few really legitimate necessary responsibilities to the people it governs. One of them is, broadly speaking, public safety, and they can't do it. They can't do it. Look at some of the videos, without getting into the sort of nitty-gritty of the videos from Birmingham in the UK today. Does that look like a state that's able to ensure public safety?

Chicago, this guy getting arrested 75 times in seven years or eight years. Does that look like a state that's able to ensure public safety chicago this guy getting arrested 75 times and in seven years or eight years does that look like a a state that can enforce and protect public safety either they can and they're not or they're or they can't and you know pragmatically it's the same thing and you gotta ask yourself like you know you're paying taxes to this stuff yeah are you what are you getting for it what are you getting for your taxes you know chicago is chicago is the most one of the most dangerous places in the country zero hedge every weekend tweeting about how there was you know 30 40 50 100 shootings in chicago over a weekend it's always the case there yeah yeah but man like isaac sean hill like i feel bad for it

what's it like i can kind of guess what's going to be the outcome for him, which is, I hope I'm wrong, but I've seen this story played so many times. It's a human being, man. This is somebody that was born with a child. The guy needs help. Yeah, it's just not there. We are paying for him to get that help, and he's not getting it.

Instead, he's a menace in the neighborhood. Yeah. That's sad reality. Yep. Let's move to California quickly. Mayor Brandon Johnson of Chicago, you're welcome on the show anytime. Talk to us about this stuff. Anytime.

Does $200 for... I'll give him $200. If he wants $200 to come on, I'll do it. But that's for beautification. Yeah, he can give the taxpayers back whatever he's spending on beautification, right? Because he had a budget for that too. Is that the going rate? Did the rate go up because of inflation?

Because it was $200 at one time. I don't know. I have to ask that. We have to find out. I have to ask that for the person in question. Directly or indirectly? Send him an email. No comment.

No comment. California, they're losing another big company. And Chevron, well, they had their headquarters based in San Ramon, California, and it's now leaving that for Houston, Texas. And the company expects all corporate functions to migrate to Houston over the next five years. And the reason for this is because they're seeking a laxer, more business-friendly regulatory environment. So that's why they claim to be leaving California for Texas. And this move comes after Elon Musk publicly said he wants to move X and SpaceX to Texas.

So that's another couple of big companies that may consider moving too. But either way, for the Chevron story, it's approximately 2,000 employees in the San Ramon area. That's a stone's throw away from Oakland. And presumably a lot of them are well-paying jobs. So you have the loss of employment, loss of corporate taxes coming in, personal taxes that are going to be paid for when people work, employees that probably won't be spending as much money. There's a whole bunch of things that just spiral out of control here.

And you know what? They'll have to figure out a way to make up the lost revenue somehow. Not to say that Chevron is probably bringing in a great deal deal but it's just another one and just another one another one eventually it's like holy fuck it's then noticeable and there's a lot less money coming in what do you do i don't know what you're not surprised by this though are you well no i was surprised the fact that chevron had their headquarters yeah in california to be i i would suspect it would have been tex Texas all along. That's fair.

That's fair. To me, it's just another sign that you're seeing really legit brain drain now. There's not really much debate about whether or not people are staying in these places anymore. Famously, I shouldn't say famously because it just happened, but Jason Kalkanis, who's one of the all in guys. Who's a big bleep. Like at least he was, I think he's actually starting to shift to the right because even he can't justify some of the insane policies in California.

He's been a liberal, uh, politically, at least in the two or three years I've been listening to that show probably before that as well. And he just announced publicly. And actually the guys on no agenda covered it too, that he's, he's leaving. He's up, publicly, and actually the guys on No Agenda covered it too, that he's leaving. He's up and left for Texas. He bought a bunch of acreage on a horse farm, and he's just done with California. He's like, I'm not going to stay here. I can't raise a family here. As much as I like the area, I like the idea of California, the idea of Los Angeles, whatever, San Francisco, pick your city. It's just not what it needs to be to facilitate growth, either professionally, personally, or some mix of the two.

And when you see these other companies doing this, Elon, yeah, he's a bit of a cult figure, but do you think that guy can drive emigration from a jurisdiction? I think he probably can, business-wise for sure. And those companies like Chevron, SpaceX, Twitter, whatever. Yeah. They, they employ, I don't know, a couple hundred people, let's say a thousand people. Is that Chevron alone? It's 2000. Yeah.

I was just, I meant Twitter and SpaceX, but yeah, Chevron would be a much bigger one for sure. So let's see, let's say between those three companies leaving, you drag out 3000 people, 4,000 people max. Okay. That's not a huge hit necessarily in pure bottom line numbers, but that's a lot of trickle down. It's a couple of sandwiches every week at the store. And so the thefts make a bigger difference and all these things. And as that starts to happen,

the effects are cumulative and compounding on other members of that small economy. And everyone makes the same decision because at the basis of economics, regardless of whether you're Keynesian or Rothbardian or whatever, every person in an economic system is at their core a rational actor. And rational actors always make rational decisions. It's just a matter of when.

And the longer we go, the more people will make that decision because it becomes undeniably rational. And in some cases go, the more people will make that decision because it becomes undeniably rational. And in some cases, it's like your personal safety, not necessarily economic well-being that becomes the principal concern. It's going to continue. I look forward to seeing what California is going to be like in a few years. I think we'll be doing a lot less stories about companies leaving California and more stories about roaming gangs of homeless fentanyl zombies taking over small communities.

That's, that's my prediction. Five, three, three to five years from now, that's, that'll be the bulk of the stories. No,

they'll run out of companies that are going to be leaving. So eventually we will not have any more stories to talk about. Yeah. Boom does the same. The Nikkei is up 8% of pre-market. I can't believe it. It's unbelievable. You know what?

The funny thing is it had its biggest drop in one day history 57 years there hasn't been a drop that big and now it's probably going to be the one day increase in all this history maybe maybe yeah and you know what in a week's time nobody's even thinking about what just happened i'll be i'll be ready with the next round of memes for the next uh no i'm not talking about like we remember i'm talking about the normies out there it's like oh you know what yeah two days it wiped each other out and then we're net you know zero net gain which is you know whatever but what the fuck like how close is this to like just fucking toppling over the confidence people have it's not there and this thing is just all fake and it's all levered up to its tits i love it i mean i'm a huge i'm a huge fan of this stuff for

content i was talking to kenzie last night she was at the cottage and i was here at home just like watching this thing implode and every time i talked to her about like the economy imploding she's like just don't watch it it's like obviously it's if it's going down like don't watch it. Obviously, if it's going down, don't watch. I'm like, I have to. The content is just unbelievable, the memes. And I sent Mark and you that meme of the guy. He's like, are you ready for the economic collapse? And then the Pepe responding, I have so many memes saved. Did you catch the economic collapse? Yeah, I just got all the memes ready.

What am I going to do? I don't care. Thankfully, I don't have to sell anything I own. Stuff I'm not planning on touching for a decade or longer goes down by 20%. I don't really care that much. But the memes are fucking awesome. It's good to be a Bitcoiner. Bitcoin dropped how much in the past couple of weeks?

15%? From 70% to 49% in the last month or so. That's well over 20%. That's a lot. It's a lot. It's like 30, 40%. Yeah. So that happens in a very short period of time.

You know what? We just fucking... Who cares? Who cares? You know, this happens in a triad fight. People are fucking jumping off... I know. I know.

They're committing seppuku or whatever in front of their laptop. Yeah. They're doing a good job. But here, we can see this it's like what the fuck let's talk about how bad things are going in chicago instead let's talk about it then we'll go for a walk there yeah it's just it's funny because it could happen in bitcoin we don't give a rat's ass. But C&E, we'll talk about that quickly. Not sure if you saw this. Of course I did. The Canadian National Exhibition

for people. Opens next week, right? Best two weeks of the summer, everyone says. Yeah. Interesting food is usually on sale over there. So yeah, they're hiring for people. This is for a very short period of time.

And somebody posted on twitter x video of people that were lined up over there to apply for jobs it was estimated around three to five thousand people showed up in person that queued up to submit an application they say in total around 36 000 plus people submitted applications to get a job over there that's a small town worth of people to for applying for just like a two-week job right i guess it's just a anyways gate attendance info guide midway staff food handlers cashiers retail associates that's what they're hiring for so you know entry level low paying jobs and i don't know how many jobs out there that are going to be like in terms of the people applying it's 10 conversion rate that's going to i don't know what it is but either way they should have done something to

keep the people occupied in time maybe they could have olivia chow dancing and doing something as a way to maybe just give them uh something to look at i'm not sure but either way they dropped the ball in the entertainment value but um yeah what are your thoughts on this whole story? Where do I start? Let's talk first about the number of people applying for those jobs. As unemployment in the country continues to rise faster than immigration, which obviously tells you that we're not getting jobs for all the immigrants come in clearly. Canadian GDP per capita fell below $50,000 US last week. So we are now, thanks to these policies, the same policies that land you with 34,000 largely immigrants applying for jobs at CNE, we're on par now with states like Alabama, Kentucky, West Virginia, some of the poorest American states out there in terms of productivity

and GDP per capita, we're on par with them. So this idea that Canadian economic policy is working is wrong, demonstrably so. In fact, it's going the opposite way. There's something to be said about the idea that the economy here is one that's benefiting most Canadians in terms of like job availability as well. We can talk about, you know, the sort of immigrant population. It's an easy target, but the, the sort of more important target I would say is that for the first time, basically ever, uh, we have, I shouldn't say for the first time ever, for the current set of data, we have the lowest employment rate for 15 to 24-year-olds ever, basically, at this point in Ontario. So you're seeing these things all kind of come together.

CNE is a symptom. Unemployment rate for 15 to 24-year-olds is a symptom. GDP per capita, a symptom. And the problem, I think, is the growth policy that we have. There's a guy on Reddit who made an LMIA map. It's at lmiamap.com. And it's every business who applied and was successful for getting a positive LMIA assessment in 2023 and 2024. And Len, let me tell you, there are a fuck ton of businesses. Some of these are insane. 8,000 positions in the GTA approved just in the last quarter under LMIA. This is the low wage, government pays a bit, you pay a bit subsidy for

I don't want to call them low wage workers, but they are. They're generally foreign workers who are working at low wage jobs. You can't really slice it any other way. I hate to break it to you, but that's the way things go. A couple of notables here. Eight approved positions for mcdonald's on plains road and aldershot do you think aldershot mcdonald's is a hard time finding like canadian staff members canadian applicants i doubt it uh three approved cooks at earls at mapleview mall another place i doubt it's hard to find good staff har Harvey's at 3500 Dundas Street East. Apparently needed to hire 10 people from overseas to cook and serve.

Insane. Autospa on Applebee line brought over 15, quote, specialized cleaners from overseas to vacuum fucking cars. What the fuck are we doing here? People are in food lines. There's 34,000 people, okay, applying for jobs at the fucking CNE to sell you funnel cakes and steal your money at the Midway. And this is where the LMIA jobs... This is a disaster. And if I look at this list of grants, I got this from Table Salt on Twitter. There's a list of grants for people who are hiring newcomers.

Advanced Pathways offers a wage subsidy to employers hiring, quote unquote, skilled newcomers. Scam. Environmental Foreign Talent Development Program is a federal program delivered by ECO Canada and offers funding to employers. The program provides funding of up to $15,000 for new permanent roles. Scam. Welcoming newcomers wage subsidy program. The welcoming newcomers wage subsidy program provides employers in the electricity sector with wage subsidy to hire newcomers to Canada in full-time roles. The wage subsidy of 50% up to $10,000 to help newcomers come over to the workforce. Scam. Last one, skilled newcomer internships for bioeconomy covering up to 75% of the employee salary up to $20,000. Len,

say it with me. Scam. Scam. We don't need any of this stuff. Somebody is making a fuck ton of money hiring these guys. Well, a bunch of people in a demographic that needs to find jobs to gain experience are at the lowest employment level in history. 15 to 24 years. Does no one

see this as an issue? I don't know. But the more data you look for, the more you just want to slam your fucking laptop and throw it into a fucking wall. Make sure it goes in the lake and there's Bitcoin on it. Oh my God. I know. Now worse, from Ben Rabideau, okay?

Immigration just, just passed climate change as the most important issue or as one of the three most important issues in the coming election, okay? Or one of the five, I should say. Wait, wait, immigration did? Number one on the list of issues in Ontario, according to this survey. Housing affordability, inflation, healthcare. Immigration at 19%, climate change at 17%. So we're barely making a dent.

It's one of the things that really drives me nuts because I can clearly see there's a problem. People who look at the data can clearly see there's a problem. But when you ask yourself, man, who's still watching legacy media? The answer is fucking everyone else. And everyone else doesn't get it. They don't get it. They're talking about climate change. Whether you think that's important or not, it can't be in your top five if the food bank line is around the corner, if the C&E's got 35,000 applicants. They don't see it. Come on. There's no way that this is –

They don't see it enough. It can't be fifth on the fucking list. Fifth on the fucking list lands you another liberal majority. You know why it may be fifth for a lot of people? Because there's other things that are – they'll say that's impacting them. So if the price of housing has gone up quite a bit, and it has everywhere in the world, not just Canada, that means then you have to pay more for it,

and that's less money to spend elsewhere. So other things. What was the other things you mentioned? So it was affordability with housing. Climate, you said, was was 17 what was the other let me go back and pull the chart up here uh top five housing affordability well let me move this housing affordability inflation health care inflation okay yeah health care yes these are all things you could say because they impact your daily life right for sure so for sure the thing is

that if you look at all those things you know what is the is the common denominator between all five? It's immigration. It's regulation or policy driven. I don't know. Say whatever you want. Immigration policy and immigration regulation is what's driving a lot of this stuff. The Bank of Canada is clearly saying, we talked about this last week, that there's no fix on the supply side. The demand side has to be addressed.

There's no willingness to do it. Whatever. I'm going to keep rolling downhill here. Yeah. Let's just move on because there's... Our buddy Mike Campbell, just one other thing here to add to the C&E story, which I think is important. Globe and Mail headline, employers still turning to low-wage foreign workers in record

numbers, according to the data, even as unemployment rises. All while the immigration minister, by the way, is saying that there needs to be a cap on foreign entries of all kinds, but it doesn't seem to be happening. RBC replaces Canadian staff with foreign workers. Asked employee blows whistle, federal government

investigating. What are they going to investigate exactly? Any idea? I don't know. I read you don't know i read you the grants i read you the grants that it's it's a rational decision for companies as long as they're allowed the labor market impact assessments yeah so it's it's there to try to fill a need theoretically like you know an employer has a a job they gotta have it filled somehow and they tried to have it filled domestically they couldn't so they're going abroad to fill it that's theoretically the way it works so yeah maybe the system needs to be somehow revamped i'm guessing maybe i don't know maybe it does yeah maybe i don't know what do you think you think it might be man there might be a need to reassess and revamp?

I'm sure they're in the process of figuring things out. Let's talk Conestoga really quick. Oh, I love this one. When are we going to see fucking Warren Buffett announce a stake in Conestoga College? It can't be much longer. Lucrative business going

on over there. Shout out to those guys. Did you see the residences? how like something like 15 000 people like they're they have on there like that's a lot and i mean for have you driven through kitchen or what like tri-cities in the last little while i go to physio out there with a friend of ours he's my physiotherapist the only time i go there is for the place where we all meet up and which is yeah yeah well i go through there now now every two or three weeks. Let me tell you, the traffic there, Len, is worse than in Hamilton.

It's worse than in Hamilton. There's just too many fucking people. There's too many. If you look at Conestoga's bottom line, yeah, they need something over there. I don't know what it is, but maybe there's another thing that we could revamp over there. I just want to plug Innocente Brewery.

That's the only reason I tend to go out there i just want to give them a plug okay tell me about the conestoga bottom line this story is incredible wow quickly it's 252 million dollar surplus yeah how they're a unicorn they're a unicorn can you believe it they've they've found the way don't make me pull up the vegetable cutting video again don't make me pull it up do not make me pull up the video of the guy coming from india 13 000 fucking miles talking about a conestoga taught him how to hold a knife don't make me pull up the video they print money over there and they do it that's it that's actually it they found the loophole so i wish i could invest in conestoga making me knock over my coffee cup over here i'm getting my blood

pressure's going up too much at the end of the show i'm not gonna be able to fucking sleep you didn't talk about the dancing video oh my god olivia she looks like she's a fucking vel she did she miss the fucking gate for veleld? She's trying to get to Eric Bride's, not the fucking Caravana Parade. God, what a mess. And like three blocks away or four blocks away, there's a Hamas-Palestine

anti-Jewish protest. Help it make sense. Make it make sense. What am I missing here? Accelerate. it's accelerate only it's accelerate only actually shaking her shit at the caravana festival while the city burns all right i love it all right yeah sign me up i'll be there next year mayor chow come on the show happy to have you i'd love to talk to you about it i'll even come

to the office and bring the camera the next election she's gonna win again i i don't know who's i mean at this point i haven't heard a name that's saying yeah i'm gonna run against her and give her who wants to run that city i'm sure there's a lot of counselors that want to move oh fuck i don't know you it's like it's like getting a bump it's almost like the peter principle right like getting a bump it's almost like the Peter principle right like getting a bump in responsibility because you've done something well to the point where you're not able to do the things that got you there in the

first place I think a lot of city councils are at that point especially in big cities Hamilton I think is there Toronto is there I don't know there's probably other cities I'm not thinking of Burlington might be there but Burlington's not really the same sort of like I don't know what's's probably other cities. I'm not thinking of Burlington might be there, but Burlington is not really the same sort of like,

I don't know. What's the word? A shithole that Toronto has become over the last little while was just like a raging drug, homeless encampment problem. Cost of living insanity. It's, it's just,

it's crazy. It's crazy. And like, listen, a lot of that, I mean, I'm going to defend them here. A lot of this is not really, it's because of the dollar itself was devalued.

And that's part of the problem. Yeah. So they're just there to do other things. Granted, like, you know, you could say, fine, property taxes have gone up. Okay. They are the ones administering it, but still everything has gone up. So that's going to have to go up accordingly as well. So they're just there to do whatever.

So I'll defend them to a degree because they're not really the big slice of the problem. Maybe a small, small slice of it. They could be attributed to it. One can make an argument. But the big like, no, that's not them. And they're just they're just there. Right. They're just there to make sure garbage is picked up.

They're just there to make streets are plowed. Shit like that. Yeah. I put LMA LMA map in the chat. I'm not going to go to any of these businesses. You guys do whatever you want. I'm not going to go to any of these. If I can avoid it at all, I'm not going, period, end of story. I said this the other day on Twitter that here in Dundas, I overpay for everything. Me and Mark went for lunch yesterday. It's an overpay. I go get a

coffee. It's an overpay. I go to the store to buy a shirt. I don't go to H&M or Uniqlo. I go to the place in town. It's an overpay. I go get a beer at the local brewery. It's an overpay. It's always an overpay. But the alternative is that these little shops close down and your community turns into a century initiative fucking freak show inside of 10 years. And the things that you loved about your community are destroyed by people who only care about extracting value from you and the people around you. They will do it at any cost, any cost. Community is so important. And it may be tempting to go buy that coffee from Tim Hortons for a buck or from McDonald's for a buck 50.

Don't do it. Brew it at home or go overpay once in a while for coffee in town. Keep that barista employed. Keep that coffee shop open. Go to the local Indian restaurant. Go to the local Italian place. Go to the local food spot. Keep those people open.

Because if you don't, the alternative is dire. It's dire. you see it everywhere it's weed shops cash advanced places and fucking subways everywhere you look if you don't keep those places running so yeah are you gonna over here yet you know jared i don't know whatever yeah whatever happened to that guy he's got to be doing a long sentence right child porn that's got to be a bad one he's been there for what for like 10 years at least at least yeah so i mean he may be halfway there depending on the sentence i don't know much yeah boomer saying farmer's markets 200 like go to these things man and pay a little more so what the you're not just paying for the product you're paying for the community that you enjoy that's the cost of the community yeah like if you don't if you don't go

even my wife like my wife overpays i think for like these pottery classes she does right she makes these like cups she's pretty good actually she maybe if she sells some if she sells some at christmas i'll tell you guys you can buy one but the the thing is like if if that little art school goes away what replaces it if that little coffee shop goes away what replaces it if the restaurant closes what replaces it it's you're not gonna like it you are not gonna like it you're gonna wish you paid extra for the nachos for the beer for the whatever see at the beginning of the show you were knocking the choice of nachos now you're defending it so you went full circle in an hour and 49 minutes nacho flip-flopper nacho flip-flopper with that

it's a good time to end it so yeah flip-flop in one particular issue that's right listen god god bless all you guys i i appreciate you guys all listening watching uh i'm reminded about how great the community is on cbp when you know we add a sponsor or get a good get a good guest or something like that it's really because you guys watch and listen and the community around the show is important to us that we will do things we do so thank you again thanks for tuning in see you tomorrow with kevin mirror len you want to say anything before we sign off i know you do don't be a cock