The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #183 (Other Notable News Stories) - Operation Chokepoint, Confidence Votes, Bitcoin Price Weakness (Bitcoin Podcast)

Episode Date: October 2, 2024

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Great. One hour, three minutes and 27 seconds. Where should we start? Confidence? China. China. Okay, sure. China, China, China. Because they started the money printer, it looks like. Because this past week, they have the Central Bank of China. Len, you know that I prepared some new content for the show for this story? Hold on. Money printer. Okay, this is a money printer story okay hold on hold on we kind of have the guy just you know doing that just shilling out cash from his palm of his hand so this uh this past week the bank of china which is their central bank i like that the money printer update uh they cut interest rates by 30 basis points, and it was from 2.3% now down to 2%. That is the biggest cut by the Chinese central bank since 2016.

So it's been eight years since they had this level of cut. And on top of this cut, we just learned that there's also a stimulus program that they put into place to help kickstart the economy. And China is eyeing a growth of five percent this year that's their goal they want to get there and then it looks like they're going to do it by hook or by crook and they're going to use a central bank to help achieve that goal but you know let's be honest when you do that it's going to yield a whole fucking bunch of new problems as a result but we'll get to you with those later on five percent is what we want to do it's 114 billion dollars u.s that's a stimulus the markets absolutely loved it it went up right away by a few percent and this isn't the first time we've had some sort of something done

by the people over there the central bank or the government because the bank of china also provided 42 billion dollars of assistance financial assistance, financial assistance to companies and banks out there to buy and scoop up these unsold apartments that have already been built. So they were built, haven't been sold. Well, Bank of China is going to, well, they did. They sent out $42 billion for essentially propping up the real estate market over there.

And then just today, we had China also say that their banks have to cut rates on mortgages by 0.5%. So it looks like the real estate market is teetering on the brink of collapse over there. It's a big thing in China. And this thing, you know, this is the second largest economy in the world. And they have to do this shit.

And they're getting so much money from other countries because they don't have trade deficits. Us. United States. Name your European country. Just everywhere from the fucking... Buying shit from China. And they can't sustain this.

This is going to collapse. But who's going to collapse first? I think it's going to be Japan. I said they're the canary in the coal mine here. But either way, China's doing their part to try to be the leader in this race, and they're doing a good job of it. So kudos to them.

China issuing 1 trillion yuan of special bonds to stimulate consumption. China to issue another 1 trillion yuan via special bonds, not regular bonds, special bonds, to help local governments tackle debt problems. That's a winning strategy. And then some of the fiscal support measures could be unveiled as early as this week. That's from a Reuters article. Interesting, man. There's clearly something happening around the world. We talked last week, I guess it was last week, right,

when the Federal Reserve announced their rate cut. we talked last week about how 50 points without an immediate and visible domestic emergency is often a sign that there is an international problem brewing that might need dollar devaluation is this the problem i don't know this is far beyond me to even comprehend because they're pegged right there yuan is pegged to the US dollar. I don't know what the value is. But because now the question I have, I mean, I'm going into a tangent here. I'm going to the weeds.

Because the Federal Reserve, they cut rates. And the fact that they're pegged, the yuan is pegged to US dollars, does the Bank of China also have to cut rates relatively close to the federal reserve or no because they're 2.0 percent right now and the federal reserve is what 4.5 i can't remember what the last yeah anyway it's a big disparity between the two so do they go up in tandem and

go down in tandem because it's pegged i like then i don't know good question then i don't know yeah i don't know anything else you, Len. I don't know. Yeah. I don't know. Anything else you want to add to this? Good luck if you're relying on the Chinese economy, I guess. Also, 5%. That's going to be phantom growth. That's the other thing.

They're notorious for this kind of phantom GDP. Well, they could spin up a new city by tomorrow. Yeah, and then they'll spin up a new city, pay people to build it, and then 10 years later pay the same people to remove the rubble from the ground. Yeah. Yep.

And it's all going to be added to the GDP. 100%. That's a perfect calculation for success. Let's talk about my hero, Paul Pelosi. I like Paul. This guy, not only could he fend off hammer attacks but this guy is an absolute legend when it comes to investing because he managed to sell off around five hundred thousand dollars of shares worth of visa a couple of months ago and this past week it was

announced that the department of justice they plan to open up a lawsuit against Visa saying that they illegally monopolized the U.S. debt market. There's claims that Visa illegally paid its rivals to keep them out of the market and hinder innovation. As a result, Visa holds about 60% share of the debt payments market and earns about seven billion dollars annually in debt sorry debit swipe fees this is as per the department of justice so uh this was just came out this past week really interesting news but you got to break this down further he sold 2,000 shares in early July, July 1st, which I believe it was.

The price at that time of Visa, the price per share was $273, give or take. I saw. So, I mean, if you do 2,000 times 273, that's $546,000. The price today of Visa, at least earlier today, I saw, $274, just a mere dollar difference oh my goodness paul's

worst ever trade well it was 290 a few weeks ago before this all transpired so maybe you know he knew something and he maybe acted a little sooner if he wasn't paper-handed but i don't think he was paper-handed because we all know that hammer like rock always beats paper. And this guy was able to fend off hammer. So he does not have paper hands. So either way, I don't know what, there's one thing that is difficult to argue here.

This guy is an investing legend. He's a wizard. Yeah. True market wizard. I have nothing to add to that story. He's the man. I'm sure if you want to add anything. I not saying anything what is there to say the guy you know he's in the he's always in the news for one of two things strange late night encounters or incredible investing decisions there's no there's no greater dichotomy this is the

the duality of man you know it's perfectly illustrated in paul pelosi so afghanistan i'm not sure if you heard this story they want to join bricks and i'm not sure like what the fuck could afghanistan provide the bricks nation aside from a strong military and this is all thanks to the abrupt bug out that the u.s military had a few years ago but it's not their poppy product productivity because it used to be lucrative but apparently did some research there dropped quite a bit in poppy harvesting or like the taliban government's not very happy with this kind of so you don't so what the fuck did they present i have no idea but either way it was uh said that they

it's listed that they want to have their application formally admitted to BRICS. And it was a video statement that was done. And it wasn't done in a cave. It was done in an actual office. The Taliban deputy spokesperson Hamdullah Fitrat. And he said the Islamic Emirate of Afghanistan is eager to attend the coming BRICS meeting and has shared this request with the host country they want to be at the table and i guess let's be honest every fucking group needs their chicago white socks right everyone afghanistan kid filled this void right poorly managed under keeping right but the one thing they don't do they don't wear socks with their sandals because even in kabul that is a fashion faux pas.

So they will not wear their white socks either way. What are they going to do with this? Are they going to accept fucking Afghanistan? That doesn't make sense to me. Why the fuck does Afghanistan want to get it? Why would they even accept Afghanistan? They're not even a formal government that's recognized throughout the country.

I have no fucking clue. No idea. I mean, what, what, what, what are these guys doing? Like,

I haven't thought about Afghanistan since that Bosch, like, you know, exit, uh, where guys were like hanging off the wings of planes or whatever. Well, I, I, I didn't think about Afghanistan. I've never even, I never even heard of the country before 2001. And now I haven't thought about it in three years. Like, why, what do they bring to the table? I don't know nothing they're like and guys like boomer in the chat is saying like yeah you know a couple of apache helicopters lightly used you know well maintained lightly used previously enjoyed

apache helicopters but like what else what else they have i don't know not much but let's be honest the last time they did any maintenance and it was when the u.s military 100 it's just been sitting there i hope they put some gas stabilizer good weather good weather so you don't have to put them in the garage but yeah i mean you gotta those gaskets are not gonna hold up forever no and the paint is gonna get sandblasted off so the camouflage paint is now gone there's nothing good whatever hopefully they put him in a cave and stored in there properly the way they should be doing it do you see the longshoreman strike in the united states i did i did yeah it started today september 30th involves approximately 36 ports along the east and gulf coast of the united states and this is a strike by the international

longshoremen's association the ila so obviously things are going to get a little more dicey and you know this is 85 000 dock workers in total and we've had shipping problems in the past not too distant past this decade decade, in fact. We have all seen what happens, so maybe it might be time for people to go out and stock up on toilet paper before it becomes a premium product and it's no longer available.

Might happen. Who the heck knows? In the West Coast, didn't we have also the port of L.A. go through strikes? A while ago. That was a period of time, but it was June of this year. And we're having it canada in in bc and isn't our ports in vancouver also the people over there on strike two i mean it's already the

least efficient port in the world i'm pretty sure close to it so the strike can't really make it that much worse but yeah they're they're also in a labor action i think yeah it's just like add up all their shit together and we had a brief uh rail strike in canada too like there's just there's nothing here that's redeeming and say yeah this is good stuff things are looking very bright we're heading towards winter goods need to be shipped for people to heat their homes eat shit like that i don't know this is fucking scary there's a great uh tweet i saw today from the same i gotta find it it's on marty's feed let me find it here um it's a woman who she's a government official she might be the uh labor secretary or something hold on i gotta find

this here she is okay um yeah what would happen if the dock worker strike goes on longer than a week? Here's the Commerce Secretary, Gina Raimondo. I have not been very focused on that. Well, maybe you should be. Marty points out that's the same woman who didn't know what the Bureau of Labor Statistics was. Oh, that's right. Remember her? Yeah.

Same girl. What is that? Brutal. There's like a crisis of competence everywhere in the U.S. government. I mean, it's everywhere in the world. But God, this woman just can't catch a break. These are easy questions. It's amazing.

The answer is to make sure that she gets interviewed by Caitlin Collins or whatever from CNN before she goes on any more unscripted interviews. That's the answer, I think. Let's move on to Canada. Unless you want to talk about Japan briefly. I know you were talking offline in other chat about Japan. I don't know anything about it. I can't find any hard evidence that Japan's,

that the Nikkei is causing the Bitcoin price weakness. Oh, nothing with respect to Bitcoin price. I mean, just in general over there., I, I don't know. With respect to Bitcoin price. I mean, just in general over there, but I don't really care about Japan that much. Like whatever. It's like you said, only a matter of time,

I think. But, um, but our games, man, are like PlayStation, Nintendo, like it's going to impact.

It's going to affect my PS five pro order. I for sure. It will. What do you think this shit is? Is being, are you going to get a pro? No, no fucking way. It's like a grand over here i know i'm not gonna go in either i don't see the the point until sony produces games that actually look like they need it i'm not gonna do it it almost looks like xbox 360 style game i it's i've been i a separate topic

here i have been so underwhelmed with the ps5 in terms of graphical output save for like probably five or six titles like the god of war games are amazing the horizon games look amazing uh borderlands 3 look really good but otherwise it could all be ps4 games i think but they look they look worse on ps4 like this like i have a really good tv and so the i'm pushing my playstation 5 like to its limits and so those games look great but overall you know the gap between the three and the four was pretty big the gap between the four and the five i think for 90 of titles has been a lot smaller yeah yeah how come you're not playing on a crt like a 12 inch or 14 inch i have a i have a 4k i have a 4k 120 tv and the the playstation looks great but not all the games have that output

potential and it sucks like horizons horizon forbidden west looked incredible the expansion for that game looked incredible um it's been a few other games that look really good too but that one was like a really notable one um it'll be a pro seller it's going to be grand theft auto 6 whenever that comes out i know it could be off the playstation 6 system seller no they're going to release a remastered 5 with the playstation 6 probably the way these guys are carrying on yeah for sure it makes sense well we're going to north we'll talk about international students sure as we discussed it last week um for them applying for asylum in Canada.

We got numbers, more concrete numbers this past week. So to give some context here, remember, these are for international students in Canada applying for asylum. Back in 2018, the number in that category that applied for asylum was 2,200 students. So, you know, not a heck of a lot but still you know it's measurable in 2023 that number jumped to 13,000 and even 2022 that number was as high as 5,300 so 2024 that number i think is going to be much higher than 13,000 in 2020 sorry 2023 cbc reported that the majority of refugee claimants between 2018 and 2023 came from mexico at that time around 9 000 claimants came from mexico between that five year period of time india at that time was a distant third 3200 claimants i'm wondering now

in 2023 and 2024 how it's going to look i suspect there's gonna be a lot more people from india that are going to be making the claim fake students fake asylum seekers fake students yeah of course mark zeller said this on tv last week they're they're not i mean they have to all be sent back they have to they have to all be sent back anyone any yeah i hope so but i'm not confident well so typically the process takes between months and years. It really depends on the backlog, the location, which country, what part of the country they're in, getting documentation to prove the case. There's a lot to it. It's not just a blanket statement.

It's going to take this much time. Every case is slightly different, but it could take months to years. Exactly. The backlog. Yeah. months to years for exactly the backlog yeah as for last year the success rate to go from an asylum claim to refugee status was 78 which you know it seems decent it looks the majority of people coming here more than two-thirds have a legitimate claim as per the canadian government i don't buy these individuals i know whatever yeah yeah these are i would love to know what are the

grounds for there because some people are what they call economic refugees they're here because the economy is better and that's why they're here so they're not being persecuted because of religious beliefs or secular sexual orientation or for a host of other reasons that may legitimize their claim as being a refugee they are i think there's going to be a lot of other reasons that may legitimize their claim as being a refugee. They are, I think there's going to be a lot of them that have made a claim in the past two years or so, are going to be quote-unquote economic refugees. So their case would, I think, ultimately be denied. Are you confident in that, though?

Yeah, I am. Because what happens once your case is denied, you don't have status to stay here anymore. So you either have to pick up and leave, or eventually you will be, whenever something happens, you get caught by the cops for speeding or running a ride or something. They put you in jail, and then you get sent back home. So eventually you can't stay underground forever and work for cash forever.

Eventually you have to, something gives, and they get sent back home. But what happens when they get sent back home now if you're making a claim for asylum you're saying that shit back home is so bad yeah now when you go back there okay but the way asylum works is that you can't you can't apply for asylum in canada if you're from india and and went through another country on the way it's not allowed yeah correct like these are horses yeah they're they're horseshit they're horseshit claims

but a lot of them came directly from like they flew in it could have been a direct flight from delhi for instance i don't buy that so that just well just the reality of it so we'll just assume that's the case but think about this when they go back home when they're forced to and it will take years to get there what happened these individuals their life is fucked they made a stupid decision they were given the wrong advice to stay here because when they go back home they're not going to get the same type of treatment from their government from which they turned their back to them so when they have to apply for documentation like the canadian version of the social insurance number or passport or what the fuck it is they're gonna the government's gonna say fuck you you didn't like us before we're gonna put your application to the back of the line it's gonna be a tough life for them so

they made a piss poor decision and anybody out there that's listening to this i don't think anybody is considering to make a claim for asylum be fucking darn sure that your case is legitimately a refugee case not some economic refugee case because when it's ultimately denied and you get sent back home to where you came from life is going to get fucking brutal back then because the people over there they're going to turn your back to you totally uh i agree with everything you said len pete rose died and he never got into the hall of fame and i think you think now unfortunately he was 80 early 80 81 83 yeah 83 yeah and you know that pete rose till the end of his days he has a sharp mind i don't want to go into the pete rose tangent but we're gonna have to unfortunately

if you watched videos of him in his advanced years, talking about hitting, talking about facing other, he would rhyme off stats. I hit against Ferguson Jenkins. I hit three 15 and he knew these fucking stats right away. He was able to, to rhyme it off the guy he lived and breathe baseball to the bitter end. And when he gave an analysis on hitting, even though he has 40 years since he's

been playing he still was able to come up with some great insight on how to like improve your game the guy was just a fucking legend it's too bad what happened and he'll get in the hall it's going to be unfortunate you know so too yeah i think so too anyway well let's keep going what other stories you got well very briefly canada's population grew in the second quarter by 250 000 people that was 0.6 percent so still canada's population is growing at a measurable clip but i think there's going to be a slowdown and also um i think eventually it's going to go backwards in terms of population growth. Really? Backwards? Yeah.

We're not having enough children here to sustain the population. Yeah, we're below replacement for sure. Yeah. So the skilled workers, sorry, foreign workers, temporary workers, and the international students, eventually those permits are going to expire and go back. They'll have go back i think that's going to make a huge dent enough of a dent that you're going to see the number stay steady or even go down it's not going to go down to 39 million again but it's you're going to see a kind of whole study because they're going to hold um hold off in terms of issuing the documents to a lot of these folks to come into canada and it's going to be

measured you'll see it population growth i think it's going to be measured. You'll see it. The population growth, I think, is going to stay stagnant. I'm not convinced. And we talked about this a month ago, the Tier 4 and 5 desired immigrants. And this is from Canada's government websites. Tier 4 and 5 are people who have no skills, no education, and need no training for work. That's who we're looking for. We're actively seeking those people. There's a lot of those people out there

who want to come here and use the social safety net that they did not pay for at the expense of other Canadians who did pay into it and who have no idea what's coming. Mike Campbell, we still have to schedule him because he had that fall, but he made a great point, man. No matter what you do in Canada, you will end up in

the healthcare system at some point. You will. And by the time you end up in the healthcare system, if you're one of these people who's been talking about welcome all immigrants, people who don't want immigration or racists or xenophobes, one of these fucking morons who's been saying this, if you're one of these fucking morons, then you're going to wind up in the healthcare system and not get the support you need. And it might cost you your life. It might. And, uh, it was all for, I don't know, so that you could have same day Amazon delivery or whatever. And it's not, this is not even a question of like, you know, is Joey saying this because Amazon drivers are different skin color, different religion from different country?

No, I'm looking at the website that the immigration office runs and looking at the people they're after. And I'm telling you the, the people who are coming in simply will never pay with taxes what they're going to take from the system. That's if they stay here by themselves. If they have a bunch of kids or bring their families or whatever, forget it. You have got to be in Bitcoin, not only because it's better money, but because you may need money to go next door for healthcare at some point, heaven forbid. But the idea that you're going

to rely on the Canadian system, my man, you got a real shock coming. You know, my wife is pregnant. If you, if you've been to a Canadian hospital in the last little while, it's a fucking war zone, man, a war zone. I think I talked about when my Nona had a pacemaker put in almost a year ago now on the show, you know, we went to visit her just after she was admitted. She didn't get a room. She's 93-something, 92 years old. She didn't get a room for 48 hours. She was in the ER on the ground floor of a downtown Hamilton hospital, the heart hospital here in the city. It's a war zone. You do not want a million immigrants a year. Okay, 250,000 is a million annualized.

You do not want that. You do not want people coming in with no skills. Okay, you do not want people coming in and taking jobs that Canadian kids would otherwise do. This is, I feel so strongly about this. After talking to kids I used to coach, talking to friends of mine, or colleagues of mine even who have kids who are under 20 experiencing hardship because of just insane demographic choices we made. like it's changed the likelihood you know that the data-based likelihood that we have like some kind of significant social unrest here thanks to single males what we have told we have totally gone the wrong direction on this and i hope that it's fixed it

seems like the powers that be understand that they've made a mistake but i don't have a lot of faith that it'll go the other direction because corporate interests demand it. It's an easy, I think, voter base for one party. And I just don't, I don't predict, I think it'll be a shell game. The immigration minister and other people in government seem unwilling to say that they're actually going to send people home. They just say, we're going to reduce the number of temporary workers or temporary students or whatever. But they don't say that they're going to leave. It seems to me like a veiled we're going to give citizenship. No, no, no, no. I think it sounds like that to me, Len.

I don't hear anyone saying that people are going back. I don't hear anyone saying that. No, once their status here expires, their legal status expires, they could stay here illegally. But then it's difficult to make ends meet you don't have your sin card you have to work for cash you're going to drive without a license like you're just playing roulette every day before you get caught and when you do then you're going to be sent back that's from my belief that nothing is going to change in terms of the laws and that people once their status exp, they're not going to be asked to stay here. It kind of sounds like to me that you think there may be a change in the laws that they'll be flexible in terms of keeping them here even beyond.

I think so. Yeah. I mean, I'm the asylum claims. Let's see what happens with the asylum claimants. Right. It's temporary. You have students right now claiming asylum. Let's see what happens with the asylum claimants, right? You have students, right, now claiming asylum. Let's see what happens.

That'll be a pretty good indicator, right? Yeah. That's a good signpost. But it's going to take a year or two before we ultimately see some of this actually be measurable. So it's going to be some time. And by then, it's likely we'll have a different government they may change the the direction in which the immigration policy is going and you know um now you mentioned that in terms of people coming in young kids and stuff

i think that's the way i understand it is if somebody comes to canada with kids or they are here and have kids i think that's, the one of the more desirable situations because those kids, although they're not going to be contributing to the economy initially, they will once upon a time, they graduate from school and they would have a lifetime full of earnings in which they could contribute to Canada pension. It should still exist and other things. So those are,

and they're less likely to use the social system when they're young. Typically younger people are more healthy than older. So those are the ones you want to have here because they just have more benefits than anything else. Maybe, maybe the other side of that coin is they put other stresses on the system, right? Sure.

Like schools, for example. Exactly. And so there is no free ride regardless of age. And part of the reason I can stomach paying what I do in tax is because even if I don't use it, the hope is that when I have a kid in school, there's not going to be 50 kids, 30 of whom don't speak English, 20 of whom need IEPs, 25 of whom are disruptive and can't be taught,

and one teacher in there. That's the hope, right? But I think what we're seeing here, and we talked about this through the lens of Quebec maybe a month ago, the shortage of teachers they had leading into the September open. And I think that every school board actually has this shortage and maybe they're just not talking about it. But when I look and see, you know, when I talk to parents and when I, when I, you know, kind of walk by the school in my neighborhood, even the schools, my neighborhood, there are a ton of kids for a school that's just

not that big and i see more portables now than i used to see and you know there's big schools opening in places where you think man there's already three huge schools here you put another huge school here like is it it just seems to me like there's the stresses are either right in your face with stuff like healthcare. It's an easy one. But there's other stresses too. And when you move in, another great example of this, we just talked about the Toronto floods over the summer or whatever and how the infrastructure there is kind of crumbling and decaying. There's no free lunch when it comes to to basic infrastructure either sewage and roads when you put you know if you if you look at a place like dundas or even like hamilton mountain

where there's a lot of single-family detached homes heaven forbid you own one of those uh what you see is people clamoring to put apartment buildings you know 12 16 20 unit buildings in these neighborhoods there's no infrastructure for that sewage can't's no infrastructure for that. Sewage can't handle that. Schools can't handle that. Roads can't handle that. The parking can't. Like all the things that you as a taxpayer expect because you chose to put roots down in that place with the understanding that you'd pay a higher level of taxes and receive

sort of a higher quality of life. It's taken from you. You didn't vote for that. And like, you know, I think it does get sold as, yeah, we want young people coming in because they'll pay into the system, but they, they don't, they still don't give enough. There is an equilibrium somewhere and we are past it well past it, in my opinion. And even if we reduce the population, like you're saying, we might, I don't agree with that, but even if we did, you know, where, where, where is the,

when is, when is the equilibrium reached again? I don't think that it is. And I would even say that this is a sign. People talk about this decay of competence and legitimacy of institutions, right? The politicians looting at the trough as the empire collapses. I think we're there. But just in case you didn't think we were there, this is another signpost that goes under discussed. We are so far past the equilibrium for stuff like infrastructure that it just can't be fixed. A great example of these floods in the

States, right? You have this huge storm, it's whatever it is, five times the size of Katrina. And there's only two possible outcomes when you look and see the sort of shitty level of support that's being given by the US government to these places. Either the government actually doesn't prioritize this sort of thing. And so the taxes you're paying are completely in vain. And when the worst things happen to you, you'll be left to die naked in a swamp while your kids scream hungry, starving, and injured. Or almost worse, the government is actually doing their best and they just fucking suck. And these are signposts. And I realize I strayed a bit from immigration here, but these are signposts, man. All this

stuff, it's hard to imagine we get to a place where we reverse some of the damage that has led to this outcome. And immigration is only one piece of it. Education is only one piece of it. The expanding bureaucracy is only one piece of it. I don't think there's any coming back from a lot of this stuff. And so when we talked about why you should have Bitcoin, it is a bet that all these things continue to decay. And yeah, is that kind of a hard pill to swallow? It can be. But I think on the other side of the coin, you have this like really nice option that you can opt into with basically no friction at the moment

that gives you an out should this continue to decline. And I think it's going to. Canada's immigration thing and the sort of things we're discussing here right now, one piece of it. But man man you see this shit everywhere and the disasters they really shine a light on exactly how bad things are in my opinion well i want to go back you were talking about they're shoehorning these apartment buildings and places this has been going on forever right yeah oh yeah and you see the results you see the results yeah it makes you know it's like therapist saying it's

faster tax increases that's what it is faster property tax increase they can just shove in a new high density residential unit and then collect a whole bunch of taxes that result and all the infrastructure will just build it afterwards but at that time it takes years to get done and the people's time and everything gets um gets they're impacted because it takes longer to get to and from work and then having uh ambulances go to emergencies takes forever so for sure for sure but this is what they do and this is just it's a short term and that's how some elected official looks at it they just put it in it's good for um it's good for the business side it's good for the tax base yeah yeah by the time he or she's gone the problem isn't you know not their problem anymore it's also another thing is you got to look at is stadiums and arenas too and i'm going to really into it a lot of them are

not all of them but a lot of them are um publicly funded to a degree some are not entirely but you know there's a portion of it and studies have shown that the public doesn't get anything back not enough back from what they put in so every dollar they put in they don't get a dollar or more in return in the long run so it's just it's a money losing endeavor so it's kind of like you're funding uh rich individuals to because they're kind of holding these cities citizens want the bread and circus is so bad that they'll literally pay a billionaire to build a stadium so they can get pathetic it's insane is pathetic. That's something that should stop. It's a practice that should no longer be done.

If they want to move, let them move, let them go somewhere else. Let's let some other jabroni pick up the fucking tab. And you can at least sucks to not have the team that you're for, but at least you have some funding in which you could pay for hospitals, schools, roads,

and where the fuck else. So life will get incrementally better as a result and that saturday night you will have to cheer for some other team but that's just a snippet of time the rest of your time you're much better off that's what you have to do we got to fucking take a stand and say enough is enough the money should be dedicated for the stuff that should be dedicated for yeah not for special interest not for fucking rich businesses not for rich fuck this shit you know and i saw i was shocked but i saw a video today about these um stadiums and arenas the lifespans of them are getting shorter of course by the decade and what is what is the cause for that you think is it just the greed of the owners or is it also also just that the building quality is shit, materials are shit, professional competency is shit? I actually think there's a case we made that it's some combination of the two.

I look at Ivor Wynn here in Hamilton that was built under 10 years ago, I'm pretty sure, maybe a little longer than 10 years ago now, but it's already falling apart in some places. And it's not used that often. It's not a concert venue very often the thai cats only play you know 16 games a year mostly in the summer and it's already it looks to me like it's already having problems there's already big repairs on that thing and part of me is like you know is this just it's it's just everywhere and you can't get away from it like the for sure these things don't scale in the best of times but if you start to put up shitty products you know the scaling solution becomes much more difficult much more difficult the roman coliseum is two century not sorry two

millennia millennium millennia millennium granted like it's it's in a decade but if it's been seen earthquakes war thousands of years of sunshine rain and everything empires have risen and fallen that thing is just standing countries have been created yeah still it's there i mean the the the roman concrete the technology the ideas and you see aqueducts are still there the pantheon still there's so much that's still there we don't do that kind of stuff now it's now done for quick efficient like get his shit up and we can repair it later on it's not like a legacy you're trying to build you're not building stuff for a thousand years you're trying to build stuff for like five or ten in the arenas cases maybe 20 or 25 years and then another one comes up i think the reason why

a lot of them come up too is because sight lines they want to improve things they want to have it in a better area of the city that is better transit or public transit or whatever also um public or sorry the luxury boxes too is something else and amenities so you can imagine 25 years ago what was deemed state-of-the-art we didn't have internet to the same degree we had now no no right like there's so much that's changing so you can understand then even like newer buildings that had still like in the past 25 years at least in baseball they have visual obstructions in front of them and you can't see the fucking game i know like there's some seats

you just can't i can understand that if we're talking about fenway park for a park that was built 100 years ago where they put these columns to hold up the people above you i can understand that but man like what the fuck you built this in the 90s even early 2000s and still you couldn't come up to it and i'd like make every seat look look fucking great i don't know like it's bullshit and then if this drives me nuts and then they hold the fucking people hostage for more money but whatever the one last story i'll bring up is that ubi in canada we have the national framework for guaranteed livable basic income act c223 the act that was thrown on apartment if this thing was passed it would establish the first national framework for an unconditional

guaranteed livable basic income for all persons in canada over the age of 17 so the ubi folks are going to be pissed to hear that this failed in house of commons the c223 it was defeated 273 to 54 54 so uh from what i scanned quickly i saw that a lot of ndp voted and even i think some liberals voted so i don't think they were whipped into voting one way or another i think it was a free vote from what i could see it could be wrong this is just my quick analysis but there is a second bill that's floating around it's bill s233 the first one was bill c223 this is s233 so s22 sorry s233 is uh something that's been passed in the senate like like everything in the government everything needs to be in triplicate, right?

So where's the third bill? We need a third bill somewhere. Either way, this was introduced in the Senate. It's currently in this committee after passing second reading. Still needs a third reading. And then after it passes that in committee, then it has to go to the House for their votes and so forth.

So looking at this, this is not going to pass we have an election coming in 12 13 months maximum and i don't think this is going to go through this ubi thing is is going to be it's going to die in a vine it's maybe going to be an election issue probably not this time around but in the future for sure but this one it's done people in this chat uh not tonight but in the past have said that the hail mary for the liberal party will be ubi they're not going to go that further left in the ndpr and people argue they are already there now but no they're not going to do that no way i don't think so either but um interesting that this keeps coming up like you're seeing more and more frequently now attempts to get this through legislation right and

legislative assembly in canada yeah i know legislative assembly so far has been resilient yeah but i'm not convinced they'll stay that way i i one of the things I don't understand, honestly, Len is how the NDP have not managed to, to become a, a real contending party is it might just be poor leadership. But if I look around at the sort of, you know, general vibe in Canada, it seems to me a lot of people want the things that the NDP at least used to stand for in principle stuff like you know i would just call them handouts honestly at this point i don't think there's any need to mince words but they haven't been able to garner the support that their platform really should have been able to garner over the last especially like six or eight months as cost of living is spiked as all these other

things have you know gone what usually would have been their way. It's, it's weird to have watched this happen. But they, they, yeah, they seem to have really squandered the opportunity. And now the blocker in the driver's seat. Do I have that right?

There's a, they're giving till October 29th. I think. No, it's all December. I thought that was till the end of the year. Oh, I'm wrong.

Okay. I think it's the end of the year. Yeah. But like a farmer subsidy or something like that as well as in there as they want old age security to be bumped up between the ages of 65 and 70 yeah i'm gonna guess this second number 71 but they want the number to be and that's going to be a very costly addition so it's going to be hard for the liberals to add that and to keep their their budget in check

that's not cheap yeah but if they want to maintain power they're going to have to do something maintain power to what end like this is the thing i don't get and this is why i think like i'm not convinced they're going to lose the election but if they if they think they're going to lose like maintaining power what does it do for them nothing shouldn't they be trying to like position themselves for uh like a a less than complete napalm election loss doesn't seem like they're doing that so in the vantage point of from their point of view so the point of view from they're looking at they're saying that they have a chance to write the ship and not get decimated and i think right now they're estimated somewhere between 30 and 60 seats i think mark mark is on twitter talking

about how they're going to lose party status i know he's talked about that quite a bit and the way i look at it there are some writings out there that and this applies not just to the liberals to even conservatives block ndp you can run a rock under that banner and people will vote that rock in yeah so it doesn't matter who's there just because they support that party through and through i think there's more than 12 seats it's 12 riding sorry that are going to vote for liberal and i can name half a dozen right after the tip of my tongue i just name them off and there's not there's almost nothing that's going to stop them from voting liberal so i think that they are going to get

their official party status i'd be shocked if they don't man to get less than 12 2011 was to date they were showing and they still managed to get 31 seats give or take and it was all through the 416 yeah montreal and a few in vancouver did so those urban centers they got their seats and so those are the that's the floor i think that's the floor and the ips let's be honest they they're stuck because they're broke the 240 000 in the bank right and they're seven million in debt or is that the number i i mean yeah we saw the file i need to pull bitcoin guys we're sharing the filing with us or we were sharing it in our in our group chat there yeah it's not good that's boomer making a case too like we talked about this on the show harris like are the liberals relying on harris winning i don't

want to go down this road because i want to watch football and i have to edit this audio after we're done but um yeah it's we're gonna have a lot of fun on this show over the next i mean we have fun anyways but the next few weeks 100 are gonna be nuts oh my god it's a month away and i i for i honestly was eating dinner with my wife today and i said i i haven't thought about the u.s election almost at all it's not it's like coming up nowhere it's all just like memes and nonsense. And it's so weird. So weird.

This is, there's a debate of the vice presidents like this week or next week. I'm pretty sure. Right. It's gotta be coming up. Okay. How about the other two? Are they still,

I think they're done. I think they're done. Insane. Like it's just so one and die. Yeah. With the two candidates. I know he had one with the other guy yeah sleepy joe fuck man you know i want i wanted more fireworks i wanted same worse now by me both man oh the debate is tomorrow the vice president the presidential candidate debate is tomorrow are you gonna do time that with time for the interview I got I got Dave tomorrow at 7 but

yeah I mean I have to go earlier on no I need to debate right it'll start at 9 probably yeah so you're okay yeah anyway God bless everyone thanks for watching thanks for listening yeah see you tomorrow David St. Onge until then take care of yourselves

and don't be a cock