Bruce Dowbiggin
Getting Real About Justin’s Real Estate Economy. It Won’t Last
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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
Dear Vladdy: Now, A Few Helpful Words From Vladimir Putin
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If you feel you’re lost in the No-Fun House these days you’re not alone. We already noted the disquieting sequence of events this summer, “Since Joe Biden went full Sling Blade in his debate with Donald Trump to a near-fatal assassination attempt on Trump in Pennsylvania to the Democratic Party staging a Covid-inspired coup against Biden. And now Ms. Montreal, Kamala Harris, being retro-fitted into the Dems’ nominee against Trump while her media pals hastily erase her past.”
If you believe the current polling (you shouldn’t) she’s moved from ugly Biden duckling to Obama swan in just weeks. F1 cars don’t move this fast. But when the combined weight of Hollywood and the media party are playing Wag The Dog, you shouldn’t be surprised when the Dems try to put Trump in Rikers Island jail later this month.
Here in Canada, prime minister Trudeau is busy employing Harris’ Marxist strategy. “What can be, unburdened by what has been“. Like an actor from some bad prequel, he’s harassing steel workers with the novel concept that “I’m not who you think I am”. His pollsters are hinting he’s set for a breakout from the abysmal numbers he now has versus Pierre Poilievre, aka Little Trump.
Again, the embedded forces of the Canadian media, fat with Trudeau handouts, are not to be underestimated when the federal election rolls around in late 2025. A fourth term is always possible in the Land of the Gullible. For now they await the lessons that will be learned from the 2024 presidential election stateside.
The most likely outcome in Trump v. Harris is neither side accepting defeat. (Which will play havoc with Tom Hanks’ fatuous promise to move to Canada should trump prevail.) A drawn-out debate in the U.S. Supreme Court seasoned with a garnish of Electoral College hanky-panky seems a promising scenario for Trudeau— even with Jagmeet Singh, the man long bitching from Justin’s sidecar, now severing their entente..
As we say, it’s all disturbing. What most people in the West can agree on, however, is that Vlad Putin is a bad dude. So bad that both sides of the divide insist their opponent is in the pocket of the man in the Kremlin. The Left is yet again saying Putin funnels money to Trump’s pocket while the Right insists that Putin is working the Obamites to end America’s energy hegemony.
So it comes as a surprise when Alex Ovechkin’s favourite setup man actually nails a few home truths about what is happening socially in the Excited States, Canada and there EU. As we noted in October of 2021, Mr. Baddy sat down at a conference to impart wisdom about censorship and free speech now unfolding in the West.
“Incidentally, the Bolsheviks were absolutely intolerant of other opinions, different from their own. I think this should remind you of something that is happening… (in) the 1920s, the Soviet couture Tagore came up with the so-called ‘Newspeak’, and they thought that thereby they were building a new consciousness and coming up with new values, and they went so far that we feel the consequences up until now.
“There are some monstrous things when from a very young age, you teach to children that the boy can easily become a girl and you impose on them this selection, this choice. You push the parents aside and make the child take this decisions that can destroy their lives… all of that under the banner of progress, while some people just want to do that.”
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“This is something we saw in Russia. It happened in our country before the 1917 revolution; the Bolsheviks followed the dogmas of Marx and Engels. And they also declared that they would go in to change the traditional lifestyle, the political, the economic lifestyle, as well as the very notion of morality, the basic principles for a healthy society.
They were trying to destroy age and century-long values, revisiting the relationship between the people. They were encouraging informing on one’s own beloved and families. It was hailed as the march of progress. And it was very popular across the world, and it was supported by many, as we see, it is happening right now.
It is with puzzlement that we see the practices Russia used to have and that we left behind in distant past. The fight for equality and against discrimination turns into an aggressive dogmatism on the brink of absurdity, when great authors of the past such as Shakespeare are no longer taught in schools and universities, because they announced as backward classics that did not understand the importance of gender or race.”
You go, Vlad. There is some recent grassroots pushback to uncontrolled Wokeism, but not enough. Despite the activities of Obama and others, the virtue seekers of the U.S. and Canada seem complacent in the face of such caution. As conservative critic Mark Steyn observes of the gradual U.S. decline— and that of Canada, too— “The good news is that we’re unlikely to get another decade of complacency, because, absent any serious pushback, we’re transitioning from the ‘gradually’ to the ‘suddenly’ phase.”
Which will make today’s discomfort seem like a walk in the park.
Bruce Dowbiggin @dowbboy is the publisher 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. 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.
Bruce Dowbiggin
From Deal With It: A Cruel, Senseless Fate Ends A Brilliant Career
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The tragic death of NHL star Johnny Gaudreau and his brother Matthew in a car/ bike accident last Thursday in New Jersey was sad beyond words. The pair, riding home from a rehearsal dinner for their sister’s wedding the next day, were killed by a drunk driver who’d passed on the right side of a vehicle ahead. Words fail.
The loss of the brothers reminded us that in our new book Deal With It we dealt with a key moment in Gaudreau’s NHL career when he abandoned Calgary, the only NHL team he’d known since 2014, for Columbus in a controversial decision. Here’s what we said:
“If 2017-18 had been a turning point, 2021-22 was the major breakthrough that saw Gaudreau as a HHoF legend in the making, one who could have his number someday in the rafters in Calgary… should he choose to remain there. As it was, Flames supporters who had seen the team win just one playoff series since 2004, were eager to see how high the new-look Flames could soar and if Gaudreau might finally find his playoff scoring touch. They also looked forward to a possible matchup against the Oilers who’d had to work to even make the postseason.
Against stingy Dallas goalie Jake Oettinger, the Flames had to work just to escape in seven games, with Gaudreau notching just two goals in the series. Both would be game winners as Calgary outlasted the Stars in a nailbiter. His brilliant Game 7 overtime snipe— going short-side top corner near Oetinger’s head— was his highwater mark in a flaming “C,” sending the club into their first postseason clash with the Oilers since 1991. Coach Sutter praised his little winger’s efforts, saying Gaudreau had “taken that step to perform as well in the playoffs” as in the regular season. Gaudreau’s play in the series against Dallas was not helped by indifferent play from Tkachuk, who seemed disinterested in going to the danger areas and only mixing it up physically with the underdog Stars when scrums or opportunities for face washes were provided.
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Unfortunately for the Flames, the struggles of their top line against Dallas caught up to them in a passionate showdown with McDavid and the Oilers. In Game 1, Calgary raced to a lopsided 5-1 lead before seeing McDavid bring the Oilers back to tie it at 6-6 in the third frame. Tkachuk got the last laugh on this occasion, burying the third of his three goals that ensured a ridiculous 9-6 series-opening win for Calgary. In Game 2, Calgary once again took an early lead only to watch Edmonton roar back again again. This time, the Oilers made their resurgence hold up and claimed a 5-3 win. After dropping Game 3 in concerningly easy fashion (4-1), then trailing for the bulk of Game 4, the Flames seemed to turn a corner when they came back to tie Game 5 3-3. Looking for a turning point on Edmonton ice, they instead sagged as the Oilers scored twice in the final seven minutes.
Facing elimination in Game 5, Gaudreau’s Flames toyed with fans’ emotions as they possessed the lead twice only to see Edmonton get the equalizer both times. Pushed to the brink, the gut punch of McDavid potting the winner in OT was the final touch on Calgary’s wasted chance at a deep championship run. As it turns out, it was also the early end of an era that once held so much promise. “Missed opportunities,” the Sutter lamented postgame. “It’s not being critical, that’s just true. They’re going to tell you that, too. Missed opportunities go the other way.” The subduing of Calgary’s top line (just six goals including Tkachuk’s Game 1 hatty) was a key to Edmonton’s shockingly decisive triumph, leading to the same old questions about Gaudreau. Those questions also applied to Tkachuk, with doubt cast upon building around them for playoff success. There would be little time for reflection in the offseason talent market.
Instead of Calgary entertaining trades, the options would be in Gaudreau’s hands. As the July 1 trade deadline approached, Gaudreau announced that, despite an enormous eight-year, $80M contract offer from the Flames, he would test free agency. The star winger claimed to many in private that he wanted to go home so his wife could have their baby in the USA. As such, it was believed his preferred venues were the Islanders, Devils or Flyers (closer to home and a childhood favourite team, given he grew up just across the Delaware River from Philly). Still wishing something could be worked out, Calgary management hoped against hope for a reversal of his decision to entertain other cities after the UFA market opened. But Flames fans quietly resigned themselves to losing him for nothing.
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To the shock and surprise of many, Gaudreau would go only as far as Columbus, Ohio, when it came to finding a new home. Accepting less than Calgary’s max offer to go play on a team with few real hopes of playoff contention– a ten-hour drive from the Jersey shore where he supposedly wanted to be– Gaudreau sent a missile into Flame country. The optics were terrible for the 29-year old superstar, after insisting he wanted to be near the family home on the Jersey shore. Eric Duhatschek, shortly after, summed up the stunned reaction in The Athletic, writing “The fact that it took Gaudreau so long to choose effectively sabotaged the Flames’ off-season, because it closed so many possible Plan B options to the organization. Closer to home, but not close — because if close to home was the absolute priority, then he could have picked the New Jersey Devils, who also tabled an offer. Columbus is more easily reached by private jet than Calgary, but it’s not as if he’ll be dropping into his mom’s house for dinner after a game or a practice — or getting emergency babysitting service if they need someone right this minute to help out on the home front.” Calgary’s abandonment was best summed up by CBC broadcaster Andrew Brown’s sign-off that day, “And that’s the news for now, I’ll be back here at 11, unless a news station in Columbus offers me way less money… and I’ll probably go do that.”
Gaudreau himself put a salty punctuation on dumping Calgary at his welcome presser in Columbus. “It didn’t matter where I was signing. Our decision was it was best for us not to go back to Calgary.” From America, the reaction was more sympathetic to Gaudreau. In the New York Post, Larry Brooks sneered, “The hysterical response to Johnny Gaudreau’s decision to leave millions on the table in Calgary and instead sign with Columbus was indeed just that. Players are routinely lambasted across the professional sports landscape for being greedy mercenaries. Now this one is being targeted for taking a road less traveled.”
On Barstool Sports, personality “The Rear Admiral” summed up a scathing putdown with “Hell hath no fury like Canadian media (allegedly) scorned… But when media members wail and stomp their feet because a fellow adult opts to work in a new location, well that’s a special kind of entertainment.” For Flames GM Treliving, whose contract wasn’t renewed at season’s end, there was some resignation over the hand he’d been dealt. “At the end of the day, the players make decisions,” Treliving said. “You always reflect back on how you go through a process. I feel very, very comfortable that the ownership of this organization, the management team here did everything possible to have [Tkachuk and Gaudreau] sign and stay. They chose, they didn’t want to. Not a lot you can do about that so you move forward.”
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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. 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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