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Bruce Dowbiggin

Getting Real About Justin’s Real Estate Economy. It Won’t Last

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9 minute read

Have you ever been to a concert where a hot new product like Tesla is mentioned and many in the crowd applaud in approval? Have you been at a dinner party when you say you went to a new Thai restaurant, and everyone at the table explodes in rhapsodic glee? Have you ever been to see a comic and he mentions he has the latest iPhone with the nifty camera and people actually cheer?

You see those people cheering a piece of tech or a style of cuisine? Those are the people who believed Justin Trudeau when he told them to sink everything into real estate when interest rates were near zero. They. Will. Believe. Anything. So long as they think it makes them cool kids. Trudeau could say he can control the weather by stopping cows from farting, and they’ll be wearing a bovine flatulence T-shirts pronto.

Now, we can hear you laughing in derision at our skepticism about the real estate-economy that has taken over the nation— the new economy that Justin fed, watered and then bragged about. (To the exclusion of the other cornerstones of our once-dynamic nation state.) The one that will be going to Market one of these days for a meeting with an air compressor.

Again, you laugh. Despite the housing shortage Justin says we can easily accommodate two million new souls a year, no problem. He says Trump was a vile racist for wanting to exclude unhinged radicals from zombie countries back in 2017. The freshly-arrived from Trump’s “shithole countries” with “shithole value systems” and “shithole economies’ will prop up the value of Canada’s two-million dollar cash-cow bungalow in West Van or Etobicoke. And the Happy People believe.

Why? Because Justin and his cabinet are in Control, and they’ll just rein in these types when they get here and start asking that Jews be exterminated or white people surrender the merit system to DEI droogs. That little dustup at the universities where nervous trust-fund virgins claim to be onside with systemic rape? Justin can stop them anytime. Everything is cool. After all, Canada is the model for a postmodern state.

And that stuff about how the Canadian real estate market being 80 percent propped up by drug money, kleptocracy profits and Blackrock? Pshaw. That is just the Far Right Diagolons trying to panic you into hiding your money from the government which just wants to send it to the “shithole” countries in a kickback loop. If nothing else, the banks will save you— if there’s any shareholder value left after this deranged DEI diversion.

Can’t happen here? We know people who were around the EU in 2008 when the U.S. mortgage debacle cratered economies around the world. For years they’d been served by Poles in the service industry, Spaniards in the restaurant kitchens and Bulgarians doing the physical labour. Life was good. Everyone drove a Beemer and owned a condo overlooking the sea.

Then, one day, they noticed that all the airport parking lots were overflowing with Beemers that went unclaimed. No one had paid rent in months. The banks noticed that all these lovely fellow citizens of the EU had drained their savings, reached their cash credit limit on the Mastercard and skedaddled with the dough. Funny, they all must have gone on holidays to once, no?

No. They were gone. Bye bye. Adios. And the credit bubbles in Ireland, Norway, Iceland, France and other EU worthies popped like the champagne they’d been sipping for years on easy credit and idiotic notions of productivity. Nations like Iceland went bankrupt overnight. Counties in England threw their keys on the table. People’s life savings evaporated.

But Justin says that won’t happen here on his co-watch with Jagmeet the Bespoke. Sure, no one under the age of 40 can afford those two-million dollar cash-cow bungalows in West Van or Etobicoke. But those old Boomer geezers will die soon, and after we tax the daylights out of the estate, the kiddos will inherit the house. Probably after we turn it into a four-plex or fine them for having empty bedrooms because they couldn’t afford kids.

One of the ferocious beauties of market economies is their way of periodically turning on themselves when too many people are getting rich too easily. The Canadian RE economy of Justin Trudeau is one of them. It’s about a decade old without any sign of dropping. Life is good. Everyone drives a Tesla and rents a condo overlooking the sea.

Little wonder. Everything he and his faculty lounge of dimwits like Chrystia Freeland, Melanie Joly and Steven Guilbeault have done this decade has been to prop up the value of real estate owned by their real pals in Asia, Europe, the assorted kleptocracies in Africa or the sub-continent. It was like an ad for Chlorox the way these “investors” blithely laundered their dirty money in Canadian condos and low-rises. When news leaked out that mobsters were using casinos in B.C. (where Justin’s maternal side came from) as a laundering station it was covered up very quickly.

But the clock ticks. Even Justin’s former finance minister Bill Morneau is warning that the bubble is going to pop if Justin keeps printing more money to keep the real estate values so unsupportably high. The entire middle class of Canada, which has ridden the real estate train, will see their life savings evaporate like Jody Wilson Raybould’s political career.

No matter. Justin’s been living in government housing since 2015 (some of it with his Mommy). What does a trust-fund nit know about making rent cheques or a mortgage payment? Without Sophie spending like a dervish, he never needs to look at an America Express card again. He’s got 17 more months to build up credits with his future benefactors, and he’s not applying the handbrake now.

Okay, you can applaud now.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Now for pre-order, new from the team of Evan & Bruce Dowbiggin . Deal With It: The Trades That Stunned The NHL & Changed Hockey. From Espo to Boston in 1967 to Gretz in L.A. in 1988 to Patrick Roy leaving Montreal in 1995, the stories behind the story. Launching in paperback and Kindle on #Amazon this week. Destined to be a hockey best seller. https://www.amazon.ca/Deal-Trades-Stunned-Changed-Hockey-ebook/dp/B0D236NB35/

BRUCE DOWBIGGIN Award-winning Author and Broadcaster Bruce Dowbiggin's career is unmatched in Canada for its diversity and breadth of experience . He is currently the editor and publisher of Not The Public Broadcaster website and is also a contributor to SiriusXM Canada Talks. His new book Cap In Hand was released in the fall of 2018. Bruce's career has included successful stints in television, radio and print. A two-time winner of the Gemini Award as Canada's top television sports broadcaster for his work with CBC-TV, Mr. Dowbiggin is also the best-selling author of "Money Players" (finalist for the 2004 National Business Book Award) and two new books-- Ice Storm: The Rise and Fall of the Greatest Vancouver Canucks Team Ever for Greystone Press and Grant Fuhr: Portrait of a Champion for Random House. His ground-breaking investigations into the life and times of Alan Eagleson led to his selection as the winner of the Gemini for Canada's top sportscaster in 1993 and again in 1996. This work earned him the reputation as one of Canada's top investigative journalists in any field. He was a featured columnist for the Calgary Herald (1998-2009) and the Globe & Mail (2009-2013) where his incisive style and wit on sports media and business won him many readers.

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2025 Federal Election

Will Four More Years Of Liberals Prove The West’s Tipping Point?

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The 1997 political comedy Wag The Dog featured a ruling president far behind in the polls engaging Hollywood to rescue his failing ratings. By inventing a fake war against Albania and a left-behind “hero”— nicknamed Shoe— the Hollywood producer creates a narrative that sweeps the nation.

The meme of hanging old shoes from the branches of trees and power lines catches on and re-elects the president. In a plot kicker, the vain producer is killed by the president’s handlers when he refuses to stay quiet about his handiwork. The movie’s cynicism over political spin made it a big hit in the Bill Clinton/ Monica Lewinsky days.

In the recent 2024 election the Democrats thought they’d resurrect the WTD formula to spin off senile Joe Biden at the last minute in favour of Kamala Harris. Americans saw through the obvious charade and installed Donald Trump instead.

You’d think that would be enough to dissuade Canadians who pride themselves on their hip, postmodern humour. But you’d be wrong, they don’t get the joke. Wag The Carney is the current political theatre as Liberals bury the reviled Justin Trudeau and pivot to Mark Carney. If you believe the polling it might just be working on a public besotted by ex-pat Mike Myers and “Canada’s Not For Sale”.

As opposed to Wag The Dog, few are laughing about this performative theatre, however. There are still two debates (English/ French)  and over three more weeks of campaign where anything— hello Paul Chiang—can happen. But with Laurentian media bribed by the Libs— Carney is threatening those who stray— people are already projecting what another four years of Liberals in office will mean.

As the most prominent outlier to Team Canada’s “we will fight them on the beaches…” Alberta’s premier Danielle Smith is already steering a course for her province that doesn’t include going to war with America on energy. She asked Trump to delay his tariffs until Canadians had a chance to speak on the subject in an election April 28. Naturally the howler monkeys of the Left accused her of treason. She got her wish Wednesday when Canada was spared any new tariffs for the time being.

Clearly, she (and Saskatchewan premier Scott Moe) have no illusions about Carney not using their energy industry as a whipping post for his EU climate schemes. They’ve seen the cynical flip in polls as former Trudeau loyalists hurry back to the same Liberal party they abandoned in 2024. They know Carney can manipulate the Boomer demographic just as he did when he called for draconian financial methods against the peaceful Truckers Convoy in 2022.

Former Reform leader Preston Manning is unequivocal: “’Large numbers of Westerners simply will not stand for another four years of Liberal government, no matter who leads it.’“ So how does the West respond within Confederation to protect itself from a predatory Ottawa elite?

Clearly, the emissions cap— part of Carney’s radical environmental plans— will keep Alberta’s treasure in the ground. With Carney repeating no cancellation of Bill C-69 that precludes building pipelines in the future, the momentum for a referendum in Alberta will only grow. The NDP will howl, but there will be enough push among from the rest of Albertans for a new approach within Canada.

In this vein Smith even wants to approach Quebec. While it seems like odd bedfellows the two provinces most at odds with the status quo have much in common .  “This is an area where our two provinces may be able to coordinate an approach,” Smith wrote this week. That could include referendums by the middle of 2026.

Perhaps the best recipe for keeping the increasingly fractious union together is a devolution of power, not unlike that governing the United Kingdom. While Westminster remains the central power since 1997, there are now separate parliaments in Scotland, Wales and Northern Ireland that put power closer to the citizen, so that local factors are better recognized in decision making.

With so little uniting the regions of the country any longer, devolution might provide a solution. What form could decentralization take within Canada? A Western Canada Parliament could blunt predatory federal energy policies while countering the imbalances of Canada’s equalization process. Similar parliaments representing Quebec, the Atlantic provinces, Ontario and B.C. would protect their own special interests within Canada. Ottawa could handle Canada’s international obligations to defence, trade and international cooperation.

While the idea is fraught with pitfalls it nonetheless remains preferable to a breakup of the nation, which four more years of Liberals rule under Mark Carney and the same Trudeau characters will likely precipitate. Smith’s outreach case would be the beginning of such a process.

None of this would be necessary were the populations of Eastern Canada and B.C.’s lower mainland remotely serious after snoozing through the Trudeau decade. The OECD shows Canada’s 1.4% GDP barely ahead of Luxembourg and behind the rest of the industrialized world from 2015-2025. As we’ve said before the Boomers sitting on their $1 million-plus homes are re-staging Woodstock on the Canada Pension and OAS. As with Wag The Dog, they’re not getting the joke.

When the Boomers award themselves another four years of taxapalooza and Mike Myers and the other “Canada Not For For Sale” celebs head south to their tax-avoidance schemes how will the Boomers say they’ve left Canada  better off for anyone under 60? We’ll hang up and listen to your answer on the TV.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via brucedowbigginbooks.ca.

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Bruce Dowbiggin

Are the Jays Signing Or Declining? Only Vladdy & Bo Know For Sure

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We were watching the Los Angeles Dodgers home opener on Thursday. The defending World Series champs came from behind to beat Detroit 5-4. The big hit was a three-run homer from a player named Teoscar Hernandez off AL Cy Young winner Tarik Skubal

If that name sounds familiar, Teoscar was a Toronto Blue Jay from 2018-2022. He pounded 121 homers in the span as part of the Jays’ order. But when Toronto decided it needed bullpen help he was traded to Seattle in 2022 for pitchers Erik Swanson and Adam Macko. While Swanson has battled injuries and Macko is no-go, Hernandez keeps pounding the ball.

In his one year in Seattle he had strikeout problems but did hit 26 homers with 93 RBIs. In the winter of 2023-24 he signed as a free agent with the aforementioned Dodgers. Batting behind Shohei Ohtani he launched 33 homers and 99 RBIs. He won the All Star Home Run Derby. His key hit in Game 5 of the World Series propelled L.A. to the title. The stacked Dodgers liked him enough to give him a three-year, $66 million contract.

Why are we telling you this? Because the Blue Jays also started their 2025 season at home, matched against the Baltimore Orioles. And while there are reasons to believe the Jays will not replicate their 74-win disaster of 2024, there remain the old bugaboos of injuries and pitching. In the four games against the division rivals they need to beat, Jays’ pitching gave up 24 runs while scoring 18—nine of them in one game.

The splashy acquisition of 40 year old HOF pitcher Max Scherzer has already gone sideways as a bad thumb has put him on the IL. The new stopper, Jeff Hoffman, was rejected on medical grounds by two other teams before Toronto’s money made him healthy. The rest of the bullpen— a disaster in 2024— got off to a rocky start with Orioles hitters playing BP against them. They’ve already DFA’d one pitcher and called up two more from the minors. The re-made pen performed well in Game 4, but how it holds up in their next 158 games is a mystery.

On offence, while their rivals in Boston and New York added sexy pieces to their rosters the Jays were only able to acquire veteran switch-hitting Baltimore slugger Anthony Santander. More typical of their other signees is ex-Cleveland 2B infielder Andres Giminez who in 2023 had the lowest average exit velocity of all AL batters (84.8 mph), and led the AL in percentage of balls that were softly hit (21.7%). He does play a slick second base.

The winter story line for the Jays offence was what to do about Vladimir Guerrero Jr. and Bo Bichette, the erstwhile star-dust twins who were— along with Cavan Biggio— supposed to guarantee titles when they emerged in 2019. Biggio is gone, so the other two carry the credibility of the management team of Mark Shapiro and Ross Atkins. From the outside the Jays seem paralyzed to act.

While the Jays dithered, the price for players like Guerrero and Bichette soared. Using Juan Soto’s Mets $765 M deal as a yardstick Guerrero turned down a Jays offer of just under $600 M, saying he was done talking during the season. If Shapiro/ Atkins had anticipated the market Guerrero would have cost a lot less in 2023-24. If there is no progress by the trading deadline the Jays will be forced to get what they can in a trade.

Shortstop Bichette— a gifted player who battled injuries in 2024—is likewise up for a new deal. He has started strong in 2025 and would command a handsome return in a trade. He says the Jays are waiting to see what happens with Guerrero first.  Having sold the pair for years to their loyal fans, having to trade them will be a massive PR blow. And while Jays’ national audience can be an advantage, having a whole country pissed with you is devastating.

The rest of the secret sauce for a Toronto comeback revolves around one of their hitting prospects taking a step forward. Any/ all of Will Wagner, Alan Roden, Addison Barger or Leo Jimenez can have a job if they show their bats are for real. Otherwise Shapiro and Atkins will hope that Dalton Varsho, George Springer and Alejandro Kirk can find a little magic in their aging bats.

A failure to retain talent may prompt fans to recall that Rogers decided that Shapiro and Atkins, who dumped Teoscar, were worthy replacements for the previous GM who’d walked away. The man Schneider and Atkins were hired to improve upon— Canadian Alex Anthopoulos— has made the Atlanta Braves a dominant team. Since AA moved to Atlanta they’ve won 90, 97, 38 (Covid year), 88, 101, 104, 109, 89 games. They’ve won a World Series and two other playoff series. They won six straight NL East titles before injuries sank them last year.

The Braves have developed young everyday superstars like Ronald Acuńa Jr. who don’t get picked off second base. They have built a pitching staff largely from within, not splashy FA signings. They have swagger without cockiness. They are set for years to come.

The Blue Jays? Since AA left they’ve won 73, 67, 32 (Covid), 91, 92, 89, 74 games. They’ve won zero postseason games while missing the playoffs in four seasons. The players they traded are starring for other teams in the postseason. They are again employing an inexperienced company guy as manager.

While it’s true that the sun can’t shine on the same team every day, Jays fans believe it would be nice if the great orb would find their club as it did back in the 1992/93 World Series days. Instead of the reflected glory of past stars winning for other teams. Patience is thin. And time is ticking.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via brucedowbigginbooks.ca.

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