Bruce Dowbiggin
Getting Real About Justin’s Real Estate Economy. It Won’t Last
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
CHL Vs NCAA: Finally Some Sanity For Hockey Families
In forty-years-plus of covering sports you develop hobby horses. Issues that re-appear continuously over time. In our case, one of those issues has been pro hockey’s development model and the NCAA’s draconian rules for its participants. Which was better, and why couldn’t the sides reach a more reasonable model?
In the case of hockey the NCAA’s ban on any player who played a single game in the Canadian Hockey League created a harsh dilemma for hockey prodigies in Canada and the U.S. Throw your lot in with the CHL, hoping to be drafted by the NHL, or play in a secondary league like the USHL till you were eligible for the NCAA. Prospects in the CHL’s three leagues — the OHL, QMJHL and WHL —were classified as professional by the NCAA because they get $600 a month for living expenses, losing Division I eligibility after 48 hours of training camp. The stipend isn’t considered income for personal tax purposes.”
Over the decades we’ve spoken with many parents and players trying to parse this equation. It was a heartbreaking scene when they gambled on a CHL career that gave them no life skills or education. Or the promised NCAA golden goose never appeared after playing in a lower league for prime development years.
There were tradeoffs. NCAA teams played fewer games, CHL teams played a pro-like schedule. The NCAA awarded scholarships (which could be withdrawn) while the CHL created scholarships for after a career in the league (rules that players getting NHL contracts lost those scholarships has been withdrawn). There were more contrasts.
As we wrote here in 2021, it might have stayed this way but for a tsunami created by the antitrust issue of Name Image Likeness for NCAA players who were not paid for the use of their NIL. When the U.S. Supreme Court ruled on the issue in 2015 it warned the NCAA that its shamateurism scheme had to change. That created revolution in the NCAA. Athletes now receive healthy compensation for their image in video and digital products. They can also take million-dollar compensation from sponsors and boosters.
Portals allow them to skip from team to team to find millions in compensation. One of the many changes in the new NCAA was its prohibition against CHL players. To forestall future lawsuits costing millions, it recently made hockey players eligible for the same revenues as football and basketball players. Now the NCAA has voted to open up college hockey eligibility to CHL players effective Aug. 1, 2025, paving the way for major junior players to participate in the 2025-26 men’s college hockey season.
Which, we wrote in 2022, would leave hockey’s development model vulnerable. “As one insider told us, “The CHL model should be disrupted. Archaic and abusive.” NIL won’t kill the CHL but it could strip away a significant portion of its older stars who choose guaranteed money over long bus rides and billeting with other players. It’s early days, of course, but be prepared for an NHL No. 1 draft pick being a millionaire before his name is even called in the draft.”
As we wrote in May of 2022 “A Connor McDavid could sign an NIL styled contract at 16 years old, play in the NCAA and— rich already— still be drafted No. 1 overall. Yes, college hockey has a lower profile and fewer opportunities for endorsements. Some will want the CHL’s experience. But a McDavid-type player would be a prize catch for an equipment company or a video game manufacturer. Or even as an influencer. All things currently not allowed in the CHL.”
Effectively the CHL will get all or most of the top prospects at ages 16-19. After that age prospects drafted or undrafted can migrate to the NCAA model. Whether they can sign NHL contracts upon drafting and still play in the NCAA is unclear at this moment. (“On the positive side, we will get all the top young players coming to the CHL because we’re the best development option at that age,” one WHL general manager told The Athleltic’s Scott Wheeler.
One OHL GM told the Athletic “As the trend increases with American players looking for guarantees to sign, does a CHL player turn down an opportunity to sign at the end of their 19-year-old year with the hopes that a year at 20 in NCAA as a free agent gives them a better route to the NHL?”
The permutations are endless at the moment. But, at least, players and their families have a choice between hockey and education that was forbidden in the past. Plus, they can make money via NIL to allow them to stay for an extra year of development or education. The CHL will take a hit, but most young Canadian players will still see it as the logical launching pad to the NHL.
Now, for once, families can come first on the cold, nasty climb to the top hockey’s greasy pole.
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.
Bruce Dowbiggin
Trump Effect: No One Gretz Off Easy Backing The Donald
It hasn’t been the greatest month for Wayne Gretzky. One one hand he has a Putin pal, Alex Ovechkin, systematically stalking his record for the most regular-season goals in an NHL career. After a slow start The Great Eight is now tracking Wayne like Carey Price tracking a mule deer (more on that later). When this is over he could have only 60 NHL records left!
On the other hand, his secret about supporting Donald Trump got out in the wake of Orange Man Bad re-possessing the White House. Yes, Gretz is a MAGA man, right down to the hat. While his son-in-law, LIV golfer Dustin Johnson, tees it up regularly with The Donald (they’re neighbours in the Palm Beaches) most of the hockey sweats were unaware that No. 99 votes for Trump. (In Wayne’s defence he votes GOP in the Hollywood congressional district which is like using a hair blower to melt the Columba Ice Field.)
Then, after Trump’s stunning (to some) win on Tuesday, pictures emerged on the Great One with his family at Mar A Lago celebrating the win. Janet Gretzky cooed, “Congratulations Mr. President Donald J Trump ♥️🤍💙🇺🇸 You did it, You deserved it, you earned every bit of it. The world is a better place to have you as our Leader. Proud to be an American. Thank you for being such a great friend . May God keep watching over you ♥️🙏🏻♥️ Love our family to yours !”
The secret (to some) was out. Then hero of the Great White North, which has elected Justin Trudeau three times, melted down. Like this. “People should burn all their old hockey jersey and cards of this guy. A shame”. And those were the nice ones.
University of Alberta professor Robert Summers @RJSCity: “He’s been a pretty unlikable guy for a long time, this just further solidifies it. He was an amazing hockey player.” @ktownkeith: “Gretzky is disgusting and pathetic. I will celebrate when Ovechkin breaks his record. Also FYI, Mario was the best hockey player ever, not Whine Gretzky.”
Dave MacIntyre @dave_macattack: “Wayne Gretzky being at Cheeto’s inauguration party is disappointing in ways I can’t properly express in a tweet. And no, I don’t care that hockey culture is conservative. Being fiercely opposed to a fascist dictator should be the absolute floor for anyone with a conscience….He ain’t the GOAT for me anymore.”
“Not sure this guy is the Canadian icon and encapsulation of Canadian values that many think he is. The first red flag was his very partisan support for Stephen Harper’s Conservatives starting in the mid-2000s. No thanks, Wayne!”
Globe & Mail columnist Andrew Coyne, who was on an 0-50 heater during the election weighed in. @acoyne: “I have no problem with Gretzky being a conservative. I do have a problem with him hanging with Trump. Who, for starters, is not a conservative.”
There were some who defended him. My pal Ted Bird chirped back. @manofbird: “The pissants complaining about Wayne Gretzky attending Trump’s victory party are the same people who would’ve snitched on their own kids for playing road hockey during COVID.”
But it’s safe to say that as Canada prepares to defenestrate Trudeau in the next federal election, Gretz will not be invited to Rideau Hall for beaver tails with Justin. It’s likely he’ll experience the Bobby Orr blackout, becoming a non-person in Canada for getting too close to Trump.
In Orr’s case it was his published endorsement of Trump’s losing 2020 campaign that led to the shade being drawn over the greatest defenceman (IMO player) ever. “He’s the kind of teammate I want”.
Much like the Gretzky tsunami of condemnation, Orr took it in the cup, especially in liberal New England where he made his bones. “Not that Bobby Orr will care, but his endorsement of Donald Trump is one of the most disappointing things I’ve ever read in my life. I guess all I can say is that he seems to have a weak spot for conmen/future convicted criminals.”
In Canada it was no better for Orr. Here was Vancouver columnist Daniel Wagner: “In other words, Orr faces no harm from a Trump administration and is likely insulated from the harm that others have experienced. That doesn’t excuse his endorsement, but goes a long way towards explaining it.” In the Hockey News Ken Campbell tied Orr to the Jan. 6 riots. “Bobby Orr Was Part of the Problem. Now He Can Be Part of the Solution”.
In our column of Nov. 8, 2020, we pointed the wee hypocrisy of the liberal-left press box. “Just weeks after giving LeBron James’ political activism a tongue bath, the Globe & Mail sent in the goons for Orr. “Neither Bobby Orr nor any other athletes should be leading the political conversation” thundered Cathal Kelly.
Sure. Leave it to us. Other Canadian sports media called Trump a “monster”, a “racist” and “a totalitarian”. You could heat most of the GTA with the steam emitted by their indignation at Orr having the temerity to speak out. Others swore to sell off their precious Orr memorabilia as if Orr had been accused of throwing a Stanley Cup Final.”
A bitter Orr has taken a low profile since as even some in his hometown of Parry Sound wants nothing to do with him. “Poor Parry Sound,” tweeted Mary Lou George on Oct. 31, 2020. “What a disgrace #BobbyOrr has turned out to be. Guess he believes bragging about assaulting women really is just locker room talk since he wants Trump on his team. Sad.”
Longtime fans in Parry Sound dumped on him. “I just assumed that he was a good guy. Honestly it was heartbreaking for me to learn this about him. It just shattered my impression – I guess it was an illusion – it just shattered it… It kind of now, makes me rethink a lot of my hockey heroes … it’s just disappointing.”
The message is that in progressive Canada it doesn’t pay for even the greatest hockey heroes to diverge from their Trudeaupian orthodoxy. As Canadiens star goalie Carey Price learned when he dared to disagree with Trudeau’s plans to seize guns.
“I love my family, I love my country, and I care for my neighbour,” Price wrote in a published post. “I am not a criminal or a threat to society. What @justinpjtrudeau is trying to do is unjust… Thank you for listening to my opinion.”
We commiserated with him in our column at the time. “Good luck with that, Carey. Coming in the week when Quebec commemorates the 2014 École Polytechnique massacre, the political message backfired. Quebec’s media exploded against the man who was so recently their hero. Price tried to clarify his stand.
“My views are my own, and I do believe in them,” he tweeted. “The only reason I bring up this issue is because it is what’s being brought up now and not out of disrespect to anyone.” That brought the Habs belatedly to protect him. “Carey was not aware of the unfortunate timing on his statement. The Montreal Canadiens wish to express their sincere apology to any and all who have been offended or upset by the discourse that has arisen over this matter in recent days.”
But the message is clear. Whether you’re Wayne Gretzky, Bobby Orr or Carey Price, Canada’s Woke chorus will not abide insubordination to their cause. That includes much of the media. To paraphrase Jack Nicholson’s character in A Few Good Men , they can’t handle the truth. So shut up and pass the puck.
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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