Ryan Kalt

“To be happy you must eliminate two things: The fear of a bad future and the memory of a bad past.” — Seneca

Canada is cooked

Trump says he did not agree to Iran’s 10 point plan and allegations that he did are false

Obviously, it’s still early, but so far, it appears like the “peace deal” was just to get Trump out of the ultimatum.

Why are high top personal income tax rates a policy problem? fraserinstitute.org/commentary/com… #cdnpoli

Investors have been rotating to cash at one of the fastest paces in history 🚨🚨

@ronmortgageguy We've gone from investing in housing to investing in things that make housing possible, and in so doing removed all MP accountability metrics to actual houses built "investing in the infrastructure that makes it possible to increase housing supply " See: newswire.ca/news-releases/…

But we stopped building them And every Big Federal Government Program for home building is about Rentals & other forms of Multi-family The Housing Accelerator Fund Build Canada Homes Are just Rentals & Multi-family Nothing about buying Single Family Homes 6/

Let's Just Admit It: All Levels Of Government Have Worked To Destroy The Type Of Housing Most People Actually Want For the majority of Canadian they're dream of Homeownership is still a Single Family Home But we don't build many anymore And it's clearly intentional 2/

Elites Can Get Away With Anything. Because. The Masses Do Not Know Anything.

Canada traded its top 1% income tax payers for low income refugees, students and in some cases, extortionists. *Slow clap*

The gulf conflict, even if resolved, has impaired supply from the region. Refineries and oil fields will take months to years to repair. Complex LNG facilities are estimated to take 3-5 years to bring fully back online. The commodities seem to get this. '27 WTI remains +11% today vs pre war levels. '27 TTF and JKM are +30% vs pre war levels. The equity market hasn't quite sorted this all out. There are several producers with meaningful liquids and LNG exposure that are flat to even down vs pre war. In the crisis the market sold tech and bought energy. Within energy investors sold gas to buy oil torque. Today the market is selling energy and buying tech. As a result the gassier names have been sold twice, and are meaningfully cheaper today then they were pre-war, particularly if they have crude / NGL / LNG exposure. If you're looking for opportunities in the correction, look first to LNG and liquids exposed gas producers.

London’s High Court granted Alberto Safra, the son of Joseph Safra — once the 'world’s richest banker' — a full assessment of US law firm WilmerHale’s costs, which ran to more than $162,000 on one day in 2023 alone. ft.trib.al/IJzXxTn

Gold destroying the Stock Market this century 🚨🚨

@ronmortgageguy Champagne lifestyle for the Champagnes.

Canada's Finance Minister Champagne Woke Up Last Week & Said To The Woman He Was Sleeping With: HEY! Do You Work At High Speed Rail? Because it sure as hell looks like everyone was surprised about this Why didn't anyone know he recused himself BEFORE? I have thoughts:

Warren Buffett. 75 years of investing. $373 BILLION in cash. He's looked at this market and said: "No thank you." Yet retail investors are still buying the dip. Why is the greatest capital allocator in history sitting on the sidelines while Wall Street tells you to stay in?

Democracy is dead in Canada. You can vote for your MP at 53% and they’ll just cross and trash your vote anyways.

Borrow $577 million at 4%, spend it to "save" $6.6 million a year (~1%) Net annual "win": MINUS $16.5 million per year, + you get depreciating LED bulbs and $577 million to pay back. $23.1 million in interest, less the $6.6 million in energy savings. ofina.on.ca/borrowing_debt…

Mayor Chow says Toronto to borrow and spend $577m to get fancy LED lamps. Rephrases "DEBT" as an "ASSET". "$577 million total investment through Toronto Hydro's subsidiary...fund the conversion of Toronto's streetlights to energy-efficient LED lighting" newswire.ca/news-releases/…

I needed a way to test a simple but critical idea from Debt and Delusion: 👉 Was the growth we experienced real, or was it an illusion created by credit? So I built a Canadian Real Prosperity Index, anchored at the start of the modern Economic LongWave in 1946. Since the Great Financial Crisis, every mainstream measure of Canadian prosperity has told a reassuring story. GDP recovered. Employment rebounded. House prices soared. Incomes measured in nominal dollars continued to rise. By conventional metrics, Canada healed. The Canada Real Prosperity Index (CRPI) tells a different story. By combining real median income, productive credit quality, and real GDP per capita weighted to reflect their structural importance, the CRPI reveals that what followed 2008 was not recovery. It was a debt-financed facsimile of recovery, built on a credit foundation that was already collapsing. The composite index has been declining since 2019. The credit quality component, which accounts for 40% of the total index, now registers zero on the normalized scale.

@chrisbrunet @UBC aristotlefoundation.org/reality-check/…