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Old 10-17-2021, 10:18 PM   #6381
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If you live in Calgary your real estate value is tied to O+G. Depending on your job it is to a varying degree you job is dependant on O+G. So your question is should you become even less diversified?

If you are an index investor it’s generally because you don’t believe you have the ability to pick stocks or don’t have the ability to pick someone who will out perform the market. So if that is the case I don’t see why you would change strategy.
Definitely the Calgary housing market is tied to employment and the O&G sector. To think otherwise is naive; although it's also connected to other factors. If you talked with 100 O&G-employed people you'd find a bell-curve from those that are 100% invested in O&G to 0% (except for their jobs), and of course everything in between. Investing in only your comfort level is both a blessing and a curse... we tend to overstate our own knowledge and understand internal (O&G) risk, yet overstate external risk. Human nature.



For the vast majority of investors the data is out there that picking individual stocks or commodities really doesn't work out well, and that includes many financial advisors. Interestingly I came across the following article which provides a little basis and comparison to quantify this:
https://www.greaterfool.ca/2021/10/16/meteors/
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Old 10-17-2021, 10:24 PM   #6382
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It isn’t a paternalistic judgement. It isn’t being proposed to incentivize spending on essentials.
What is essential?

just remember in answering this question you are being paternalistic.
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Old 10-18-2021, 07:39 AM   #6383
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What is essential?

just remember in answering this question you are being paternalistic.
Well we have a pretty solid working definition already. I’m not sure why this seems to be so controversial to you though. We’ve had the GST in Canada for a few decades and always had exemptions for goods that are considered essential. It seems to work fine and while I haven’t searched for it, there doesn’t seem to be an uproar about it being levied on items that are essential and penalizing the working poor.
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Old 10-18-2021, 10:48 AM   #6384
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Well we have a pretty solid working definition already. I’m not sure why this seems to be so controversial to you though. We’ve had the GST in Canada for a few decades and always had exemptions for goods that are considered essential. It seems to work fine and while I haven’t searched for it, there doesn’t seem to be an uproar about it being levied on items that are essential and penalizing the working poor.
Groceries? what what about candy/pop. maybe some hippys that don't understand nutrition take over and except organic food.
Clothing? is there a difference between $15 jeans, and $300 jeans?
Heat/Electric? is there a set sqft per person once this becomes unessential
Water?
Gas? or maybe we say bus passes are good enough?
Phone/Internet? nah communication isn't vital to participation in modern society
Home Appliances?


Essentials can cut pretty deep depending on your prospective, much deeper than GST accounts for. The working definition we have makes value judgements place buying bread higher than the value of getting to work, or dressing well enough to get a good job. Any way you look at it it's paternalistic. (and I support paternalism at times, I'm just saying to make exceptions you need to make value judgements, and there is a lot of room for disagreement).

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Old 10-18-2021, 11:01 AM   #6385
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Groceries? what what about candy/pop. maybe some hippys that don't understand nutrition take over and except organic food.
Clothing? is there a difference between $15 jeans, and $300 jeans?
Heat/Electric? is there a set sqft per person once this becomes unessential
Water?
Gas? or maybe we say bus passes are good enough?
Phone/Internet? nah communication isn't vital to participation in modern society
Home Appliances?


Essentials can cut pretty deep depending on your prospective, much deeper than GST accounts for. The working definition we have makes value judgements place buying bread higher than the value of getting to work, or dressing well enough to get a good job. Any way you look at it it's paternalistic. (and I support paternalism at times, I'm just saying to make exceptions you need to make value judgements, and there is a lot of room for disagreement).
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1. The supply of basic groceries, which includes most supplies of food and beverages marketed for human consumption (including sweetening agents, seasonings and other ingredients to be mixed with or used in the preparation of such food or beverages), is zero-rated. However, certain categories of foodstuffs, for example, carbonated beverages, candies and confectionery, and snack foods are taxable. If a product's tax status is in doubt, the CRA will consider the manner in which the product is displayed, labelled, packaged, invoiced and advertised to determine its tax status.
https://www.canada.ca/en/revenue-age...#_Toc155586101


We already do this. As to the other items, that's why there is a rebate for low income people.
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Old 10-18-2021, 11:20 AM   #6386
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https://www.canada.ca/en/revenue-age...#_Toc155586101


We already do this. As to the other items, that's why there is a rebate for low income people.
Yes, that is my point. We have made value judgements, it's paternalistic.

Sales tax exceptions are paternalistic, and do not erase the regressive effects of sales taxes.
And as to my early point, rebate programs often trap the poor in debt cycles, because time is the most important thing about money.
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Old 10-18-2021, 11:28 AM   #6387
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Yes, that is my point. We have made value judgements, it's paternalistic.

Sales tax exceptions are paternalistic, and do not erase the regressive effects of sales taxes.
And as to my early point, rebate programs often trap the poor in debt cycles, because time is the most important thing about money.
I guess it depends if you see the rebate as being paid out after you already paid it, or before. You could see it as "here's your extra GST money you may spend over the next 3 months." I think for the people collecting it, they actually receive more of a rebate than they spend on it, but I could have that wrong. In that case a sales tax would actually benefit them, not be a detriment. But we'd have to look for numbers on that.
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Old 10-18-2021, 11:46 AM   #6388
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Yes, that is my point. We have made value judgements, it's paternalistic.

Sales tax exceptions are paternalistic, and do not erase the regressive effects of sales taxes.
And as to my early point, rebate programs often trap the poor in debt cycles, because time is the most important thing about money.
You seem fixated on the paternalistic idea here. Do you think an income tax is more/less paternalistic than a sales tax with exemptions? I hate to point out the obvious here, but government is paternalistic no matter what. They make all kinds of decisions on behalf of their citizens, and in some cases that is whether the citizens like it or not...
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Old 10-18-2021, 08:25 PM   #6389
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I guess it depends if you see the rebate as being paid out after you already paid it, or before. You could see it as "here's your extra GST money you may spend over the next 3 months." I think for the people collecting it, they actually receive more of a rebate than they spend on it, but I could have that wrong. In that case a sales tax would actually benefit them, not be a detriment. But we'd have to look for numbers on that.
Yes, that's what a rebate is, it's not a prebate.
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Old 10-18-2021, 08:31 PM   #6390
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You seem fixated on the paternalistic idea here. Do you think an income tax is more/less paternalistic than a sales tax with exemptions? I hate to point out the obvious here, but government is paternalistic no matter what. They make all kinds of decisions on behalf of their citizens, and in some cases that is whether the citizens like it or not...
I somewhat agree, but just saying exemptions are not a cure all for all of the inherently regressive aspects of a sales tax, they are still terrible taxes that do the opposite of what most people claim they do. The biggest reason because you are deciding what people need for them.

I don't mind governments making those choices with non essential things or universal access programs out of general revenues. But when you are making those choices regarding person spending on essential goods, I think you are overreaching.
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Old 10-19-2021, 11:45 AM   #6391
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guess this fits in. This morning it was 139.9 in the south and 143.9 in the NE. Fill up while you caaaaaaannnnnn
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Old 10-19-2021, 11:54 AM   #6392
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Yes, that's what a rebate is, it's not a prebate.
What do you call the carbon tax credits as they are currently issued by the liberal government? You could easily set up PST this way and have the first checks come out the day the tax goes into place based on the previous years income or with proof of income loss become immediately eligible.

If prebate vs rebate is a meaningful objection it’s easily solved.
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Old 10-19-2021, 11:58 AM   #6393
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That’s true. Alberta should still introduce a PST and start to save / invest the royalty income though.
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Old 10-21-2021, 11:04 AM   #6394
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Great job people. Fabulous work.

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Old 11-10-2021, 08:29 AM   #6395
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https://twitter.com/user/status/1458147601606496257

What a mess.

Someone should tell the US we're like right here. Just a bit north. We have lots of oil, gas, hydro, methane, propane.....basically everything they need.

Maybe they are not aware.

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Old 11-10-2021, 10:06 AM   #6396
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https://twitter.com/user/status/1458147601606496257

What a mess.

Someone should tell the US we're like right here. Just a bit north. We have lots of oil, gas, hydro, methane, propane.....basically everything they need.

Maybe they are not aware.

That's not happening and Biden and his team are now studying the effects of the potential Line 5 shutdown in Michigan because the governor there is screaming for it and she's a key supporter of his administration.


There's a level of insanity to the decisions that are being made and the ramifications of it.



But I guess its better to have Oil coming in on tankers at a huge carbon cost and risk factor so you can support gross regimes in Saudi Arabia and Russia and Iran.
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Old 11-10-2021, 10:29 AM   #6397
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At least we have all that extra oil and natural gas capacity by rail!

Think of all the benefit the government could stand to potentially gain if we hadnt cancelled those NDP contracts for a huge loss.
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Old 11-11-2021, 08:54 AM   #6398
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At least we have all that extra oil and natural gas capacity by rail!

Think of all the benefit the government could stand to potentially gain if we hadnt cancelled those NDP contracts for a huge loss.
cancelling those rail contracts was the right decision. I get the need to bash the UCP but the NDP set up those contracts and it was a terrible decision. They still have the ability to ship by rail in vast amounts if required. Instead, the NDP but CN rail a #### ton of new tankers cars that never moved a barrel of oil. So CN still has the cars.....hence the ability to ship more oil.

This was one of the few good decisions by the UCP government
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Old 01-06-2022, 02:26 PM   #6399
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Well WTI topped over $100 CAD today, WCS over $80 CAD and AECO over $5. A good day for the oil patch.

Oil stocks up big today, especially impressive with the rest of the market down. Lots of stocks hit new 52 week highs (CVE, CPG, VET, etc.), CNQ even managed a new all time high.
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Old 01-06-2022, 02:32 PM   #6400
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You know you have residual PTSD when you read that and wonder when the bottom of the basket is going to fall out again.
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