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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 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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Bruce Dowbiggin

On The Clock: Win Fast Or Forever Lose Your Chance

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Play this drinking game. Every time some football analyst on TV says during the course of a game, “He’ll be a star for this team for years” take a drink. You’ll be tipsy in a hurry.

Maybe in the old days, Skip. But the concept of the players you’re loving now lasting very long with NFL, NHL, NBA or even MLB teams has come and gone. The new model was never more apparent as when the NFL No.1 seed Detroit Lions, replete with young stars, were blindsided from the NFL playoffs by upstart Washington’s rookie QB Jaden Daniels.

Heavily favoured Detroit (10 point favourites in some places) was loaded with superstars on their first contract. Jahmyr Gibbs, Jameson Williams, Amon-Ra St. Brown, Penei Sewell, Aidan Hutchinson (injured), Sam LaPorta, Jack Campbell and Ali McNeil (injured). Added to veteran QB Jared Goff and a sprinkling of veterans they seemed perfectly balanced.

Except the new mantra says you can only win a Super Bowl in this time of salary-cap hell with a HOF QB or a QB on his affordable rookie deal. Goff is neither, and to emphasize the mantra he threw four picks and fumbled once en route to the heartbreak loss. The dynasty turned into as ‘die-nasty”.

In the old days you’d just say “we will get them next year” and hope for better luck. But within two years the Lions will have to do a painful triage of their glittering young stars. You can’t pay them all, so who will go and who will stay? Adding to the misery of the salary-cap mandated chop will be can you get value for them in trades?

The Lions are far from the only ones dealing with leagues that value parity ahead of dynasty. In the NHL the Edmonton Oilers and Toronto Maple Leafs are hearing the steady tick-tock counting down on the NHL’s cap machine. The two clubs lost consistently for a decade to score top picks in the draft. Riding the skills of Conor McDavid and Auston Matthews they’ve brushed up against a Stanley Cup but have yet to do the deal.

As every fan of the teams knows it’s a race to add the proper players to the roster to compliment the young stars before they get too expensive. McDavid is an unrestricted FA after 2025-26 and as the league’s top star he will command the maximum under the salary cap where ever he lands. If that’s Edmonton he and Leon Draisaitl will be added to Darnell Nurse, Zach Hyman, Ryan Nugent Hopkins as a large portion of the cap. Can the Oilers balance these stars and still pay defensemen and goalies?

Ditto the Maple Leafs who have Matthews, William Nylander, Mitch Marner, Morgan Rielly and Chris Tanev hogging the top end of the cap. Can they find the right pieces at a cheap price to create a team that will reach the Final, let alone win the Stanley Cup? And can they do it before their core players start to decline?

For those reasons, NHL teams and players were fixated on the news that there will be no more escrow deductions taken from players the rest of the season. That led many to surmise that the salary cap will be going up significantly for the next few years, allowing teams more latitude to complete rosters and elite players to be paid their worth to the league. Even if true the increases will be proportionate, forcing the same constraints of a cap at the top and bottom of payrolls.

None of these economic concerns seem to bother the defending World Series champion Los Angeles Dodgers. With just a luxury tax, not a salary cap, to restrain them the Dodgers have added Japanese star Riki Sasaki and bullpen ace Taylor Scott to their payroll in the past week. This in addition to two-time Cy Young winner Blake Snell. Their payroll now exceeds $370 M. For 2025. By comparison the Pittsburgh Pirates sit at just $77 M for 2025 and the fans are outraged demanding the owner sell.

The Dodgers justify the spending because they are building a global brand. While the competing leagues constrict their payrolls to pay service to parity, MLB is allowing the Dodgers to take a soccer attitude to their payroll. The arguments for parity are pretty weak when you consider that their have-nots are happy to take the bounty of great TV/ digital/ logo revenue but refuse to improve their teams.

Which leaves us with the Toronto Blue Jays, definitely a large-market team trying to spend like one. Monday they announced the signing of FA Anthony Santander, who had 44 homers for Baltimore last season. This follows an offseason of humiliation where the team has made no progress signing its superstars Vladdy Guerrero and Bo Bichette.

Like NFL Lions or NHL Maple Leafs, the clock is ticking on their core players as they become prohibitively expensive. Should they sign both? One? Or trade them to get value before they scram to LA or New York? Right now they seem caught between bad options.

Meanwhile the underwhelming Jays management was punked— yet again—in pursuit of a high-profile Japanese FA. The very visible failure left many wondering if it was the market or the management that is holding back Toronto. Which might be another drinking game. Take a drink every time the Jays management swings and misses on a high-profile free agent. You’ll be in detox pretty soon.

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. You can see all his books at brucedowbigginbooks.ca.

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Bruce Dowbiggin

No, Really. Carney Is An Outsider. And Libs Are Done

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The recent appearance of Liberal-leader-in-waiting Mark Carney on the Daily Show has delighted a small segment of the Canadian voting pool and enraged a goodly part as well. During his nuzzle session with a highly uncritical Jon Stewart Carney announced that he was running to replace Justin Trudeau as Liberal leader and then prime minister for however long that lasts.

(If this distinction seems trivial we would recall that then-CBC vice president Kirstine Stewart once upbraided us for saying her actor husband was supporting Trudeau’s bid to be PM. A choleric Stewart said we’d got the story wrong. How so, we asked? He’s supporting him to be Liberal leader, she thundered. Not the PM. As if this were a distinction worth making.)

Back to Carney. To understand the gravity of his announcement on the Daily Show one must remember that for a generation of concussed Liberals and NDP hacks Stewart’s show from 1999 to 2016 was the Yankee Stadium of talk shows. In their estimation, Stewart was Reggie Jackson, mashing the fastball, while CBC’s At Issue panel was Jesus Ramirez, striking out on the curve in A Ball.

So for Stewart to grant time to an unknown Canadian banker who still thinks Greta Thunberg is relevant was intriguing. Or someone paid someone. In any event, the gotcha’ line from the chat was Carney, formerly governor of the Banks of Canada and the UK and now advisor to PMJT, repeating Stewart’s suggestion that he was the “outsider” in the race to succeed Trudeau.

For most sentient Canadians this was an epic humblebrag for the billionaire son of a former governor of the Bank of Canada whose wife does investment business with Trudeau eminence gris Gerry Butts. If Carney was an outsider what constituted an insider? It was to laugh.

Social media— that part not consumed by the visit of Alberta premier Danielle Smith and gadfly investor Kevin O’Leary to Mar A Lago— boiled with sarcasm and dismissal. Those wily Liberals aren’t going to fool us now, just as we are on the cusp of Pierre Poilievre taking power. No doubt Carney’s team— including PMJT— laughed in derision.

The Liberals culture club think that, if they could pass off Skippy as remotely capable, they can dress up Carney as an outsider for gullible Canadian voters.

But Carney may have accidentally have tripped over the truth. He is now an outsider. You see, the dotty Libs think the machine that selected/ elected Skippy in 2015 still works. CBC, G&M, Macleans, TorStar would decide the candidates and curate the process. Sadly for Butts, Telford and Skippy the Family Compact has been supplanted by social media both here and in the USA.

The turning point of Trump’s victory in the U.S. presidential race was him pivoting away from the staged debates and ponderous Sunday morning shows of legacy media toward not just podcasts by Joe Rogan but also those of under-30 stars such as Theo Von, Adin Ross and Lex Fridman, among many. The cred he gained from the Gen X demo helped him sweep the Dems away. Elon Musk breaking the DEMs censorship strategy on Twitter (now X) also sent a shot at Team Kamala that the game had changed.

While Canada doesn’t have as many counter-culture podcasts as the U.S., there are enough young voters ignoring Canada’s chattering class to bury the Libs under Carney or the rest of the Goof Troop. No one with a pulse and a vote under 50 buys the old rag bag. It’s over for guys as exciting as a carrot expecting to harvest younger Canadians. They’re playing to an empty hall with the bespoke Carney.

This ironic twist is that all this is lost on Woke nobs who brag about their hip sense of humour. Who follow Stewart and MSNBC’s Rachel Maddow to keep up with Trump Derangement. Who record SNL Update to hang on the sophomoric stylings of Michael Ché and Colin Jost. Who can recite extended bits from Curb Your Enthusiasm.

Now they are the punch line. The outrage over the Mar A Lago visit by Smith and O’Leary is a perfect example of their dissociative thinking. The staged pictures had “blood boiling” in many progressives. “@OrbitStudios Jan 13 So… Kevin O’Leary is arrested immediately for treason the next time he sets foot in Canada, correct? I’m absolutely being serious here.” And that’s a mild response.

These armies of Liberal bots fumed over the treachery of talking about the economy with the man about to become the U.S. president again. Awareness much? None of the howler monkeys reacted this way when heroes like PMJT and his cabinet burned clouds of carbon to lobby the eunuchs of WEF, EU and Davos in Europe. They were hot on selling out Canada to the globalist gang’s climate narrative, and they couldn’t get there quickly enough. Crickets from the bot community.

But this is different, of course. Sure. In the past their pals in the Ottawa Press Club could protect these hypocrisies, burying unfortunate stories by segueing to David Suzuki saving seals or Margaret Attwood decrying the medieval treatment of Canadian women in the 21st century.

But social media obliterated the insider game. So much so that Trudeau and his cabinet cronies began banning speech as fast as possible. But it’s too late. Like the ghost leg syndrome, the script to shove an unelected climate crazy into the PMO will seem real to the Libs. But don’t be fooled. The end is nigh for the old way. Just look at Stewart’s ratings to see just how dead it really is.

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. You can see all his books at brucedowbigginbooks.ca.

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