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Garth Turner

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A best-selling Canadian author of 14 books on economic trends, real estate, the financial crisis, personal finance strategies, taxation and politics. Nationally-known speaker and lecturer on macroeconomics, the housing market and investment techniques. He is a licensed Investment Advisor with a fee-based, no-commission Toronto-based practice serving clients across Canada.

October 14th, 2019 | Kid Cash

The Greater Fool - Enough of T2, Jag, ‘Doug’ Scheer, Max, Greenies-Greta and the Blochead dude. Let’s stray back into the real world for at least a day, where people actually mean what they say. In this life folks worry about taxes, cash flow, houses, debt, savings, pensions and their kids. And that brings us to Kate and her […]

October 13th, 2019 | Seven Days

The Greater Fool - Seven days before the federal election and more proof a week in politics is an eternity. For several reasons, a yawner vote in 2019 turned into a pivotal contest, rife with financial and economic consequences. Who knew? Here’s the latest, according to the amalgam of polls the CBC tracks: the odds of the Tories wining […]

October 11th, 2019 | The Thanksgiving

The Greater Fool -   Forget Blackface. Ignore Lavalin. Who cares about Jody or Jane? Or that creepy India trip? Deficits, debts and a fake feminist in the PMO don’t matter much when you have… a job. So the latest unemployment numbers, coming just 10 days before the federal election, make it hard for guys like Andrew Scheer to […]

October 10th, 2019 | Don’t Inhale

The Greater Fool - Was it just months ago this blog was labeled not only pathetic but paleo? The crime: suggesting legal weed might impact real estate. Especially rentals. And the question was posed: would you want to be a landlord renting space to junior potheads growing plants in the shower and exhaling odours into the paint? The moisters […]

October 9th, 2019 | The Trap

The Greater Fool - When the cost of money tanks, debt swells. People devote more income to making payments. They save less, spend less and worry more. Liquid assets vanish. Children go shoeless. Dogs run free. Relationships crumble. But realtors and divorce lawyers are happy. Audi guys, too. That may be a tad exaggerated. But you get the drift. […]

October 8th, 2019 | Boo

The Greater Fool - What is it about October? Volatile weather. Volatile markets. Elections. Shorter days. Falling leaves. These are weeks when investors brace for a financial roller-coaster ride. For well over a century this month has sucked. Stock market gyrations during October have averaged 38% more than any other slice of the calendar. The biggest, scariest declines have […]

October 7th, 2019 | Flyers

The Greater Fool - Being in a political debate is no treat. Especially when you have a ton to lose. I know. At the end of my first term as a member of Parliament (I was a Tory then – the good kind, a PC) the election featured a wild event one night in my riding. There were thirteen […]

October 6th, 2019 | Lubrication

The Greater Fool - Oliver’s a Millennial. He admits it. “35,” he says. “Make about 90k a year, DB pension, managed to save about 80k in a balanced portfolio of ETFs. 0 debt. I drive a Kia, so you already know I’m depraved, but I hope you’ll be able to give me some advice, anyway.” The context: we’re exactly […]

October 3rd, 2019 | Suck. Blow. Repeat.

The Greater Fool - Here we go again? Arghhh. Say it ain’t so. Well, we’ll see. But the latest market stats out of Canada’s two major-league delirious real estate markets certainly suggest that for a variety of reasons house lust is back. The facts: In Toronto prices popped last month the most in about two years, which means houses […]

October 2nd, 2019 | Stuff Happens

The Greater Fool - Despite Wednesday’s market spanking, it’s been quite the year.  Including dividends, Bay Street is ahead close to 20% in 2019. Wall Street has added 15%. Balanced, boring, pedestrian, sleep-at-night portfolios are running double digits in the black. Even wrinklies with less growth stuff and more fixed income are up 7%. Hard to argue that a […]

October 1st, 2019 | The Big Fix

The Greater Fool - Lizzie May would fight climate change by taxing financial transactions. A lot. Seventeen billion a year, collecting money every time you bought an ETF. Jag & the Dippers would bring in a wealth tax to pay for their promises, including pharmacare for all and billions to build cheap houses. This week J said his party […]

September 29th, 2019 | Old Dogs

The Greater Fool - Patrick is 48 and single, renting. His brother Les is 41, two kids, house and mortgage. Mom lives in a little condo, no financing, no savings. Dad has dementia. He’s in the hospital and not coming home. This family’s in crisis. P reads the blog, contacted me for help and let me know his folks […]

September 27th, 2019 | The Bribes

The Greater Fool - Do people lie to pollsters, just to mess with their heads? Maybe. But if the latest numbers hold, the T2 Libs are headed for a majority. This is astonishing to those who wondered how he could survive the Lavalin mess. Or the defection of Jody and Jane. The ethics charges. The godawful India trip.  Overspending, […]

September 26th, 2019 | ‘Get Me Out’

The Greater Fool - There was a money show in the Big Smoke a few days ago. Suspicious DIY investors in hoodies wandered around booths full of hungry salesguys for stocks, weed, crypto, insurance, brokerages and funds. Same old story. Everybody wants to make out like a bandit. Nobody wants risk. When it comes to investing, nothing changes. Ever. […]

September 25th, 2019 | Dr. Garth

The Greater Fool - Impeaching Trump. Trudeau buying homeowners new furnaces. The Greens sucking off $15 billion a year taxing your RRSP transfers. Conservatives encouraging more debt. It’s a mad, mad world out there. But in the warm, wet womb of this pathetic blog, you can curl up on the Doctor’s couch and let those worries hang out. We […]

September 24th, 2019 | Really?

The Greater Fool - Since this election is pivoting on house lust, let’s look at one more key promise: a return to 30-year mortgages. Those of you who can remember the dark, stormy Harper years will recall Ottawa briefly lost its mind and told CMHC to insure people buying houses with 0% down and mortgages amortized over 40 years. […]

September 23rd, 2019 | Desperados

The Greater Fool - “A Conservative government will fix the stress test to make sure first time homebuyers can get access to a mortgage.” And with those twenty words young Andrew Scheer, all dimpled and determined, made it official. Full speed astern. The thrusters are reversed. Let’s party like it’s 2016. Blackface meets clownface. What a sad corner this […]

September 22nd, 2019 | The Dilemma

The Greater Fool - Tim’s 41 and his wife 36. “We are Toronto poor,” he laments. Poor is relative. Poor is how you feel, not just what you possess. So, yes, Tim is poor. “We earn just over $100k annually before taxes, rent a home for $2250 a month, we both finally paid off the last of our student […]

September 19th, 2019 | Gaffes

The Greater Fool - There I was, trying to suck up votes on tour in Victoria when the news exploded. It was bad. Constituents were ripping Conservative signs out of their lawns and candidate offices nationally were besieged by outraged callers. In the space of a few hours an entire campaign went from cruising to crushed. What happened? The […]

September 18th, 2019 | Money for Nothing

The Greater Fool - The tsunami continues. Atop the universal tax cut, the goosed-up shared-equity mortgage, the guaranteed income for new moms, the fatter kiddie cheques, swelled RESP grants, the free startup money and the flood of new child care spaces comes more wrinklie pogey. The latest big promise from Mr. Socks is a 10% boost to OAS payments […]

September 17th, 2019 | Dr. Garth

The Greater Fool - The Doctor is IN. Nurse, please restrain and drag in the first patient. Garth, I was wondering if you think it’d be a better idea to go with a 5 year fixed mortgage at 2.59% on a 30 year amortization or a 10 year fixed mortgage at 2.99% on a 30 year amortization? I got TD […]

September 16th, 2019 | Duck!

The Greater Fool - First the attack of dunces, then the drones. Kicking off the election contest, T2 announced that people without money should be able to buy $800,000 houses and taxpayers oughta handle a hunk of the mortgage for them. Then Don’t-call-me-Stephen Scheer announced a universal tax cut in a country where 40% of families already pay no […]

September 15th, 2019 | The House Horny Vote

The Greater Fool - They weren’t expecting Trudeau to do that. So when T2 announced the share-equity mortgage program – in place for a mere 10 days – would be wildly inflated, it hit the Tories hard. As politics, it was brilliant. As complex, impractical and bizarre as it is to share your mortgage with the federal government, the […]

September 13th, 2019 | The House Tax

The Greater Fool - Remember how selling your home and keeping any profit was just a thing? No big deal. Part of living in gentle, trusting Canada. Well, trust left in 2016. Since then you must apply for the Principal Residence Exemption and pass a little test in order to keep your house money, avoiding capital gains tax. The […]

September 12th, 2019 | Diddle, Diddle

The Greater Fool - There’s an election. The government party and the infidels are running neck-and-neck. The Libs are desperate for the support of two groups – females and moisters (middle-aged guys are hopeless). And that’s why the Socks Party has broken the campaign into two big issues – abortion and real estate. Both were on display Thursday, Day […]
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