Sens Lounge: "Pleeease won't you be.....my neighbour"

[jbeck5]

I mean the answer to that question is pretty obvious, the US has the market to fertilise much larger companies and anything profitable Canadian inevitably gets swallowed up (I still sometimes pine over the death of Hostess chips). A different tax scheme wouldn't do anything to change that.

It would though.. a companies headquarters and all their expensive execs would much rather set up somewhere with low taxes.

Doesn't U-Haul work out of Arizona because of taxes and fees? Pretty sure all uhauls have Arizona plates. They do this because it's beneficial to them.

Not disputing that populations don't play a part. dollar value plays a part too.

 

[FunkySeeFunkyDoo]

Dont like to weigh in too much on these "how hard is it to live within your means now verses in my day" stories, just because I realize how disconnected I am from how younger people have it today.

But there is one story I have to share.

I used to work with a guy in his early 30s, for various reasons he was just getting going in his career and had been in this job for about 2 years. Was still living at his parents place. Making a reasonable salary, but not great. He would from time to time complain about the cost of living and how expensive it was to buy a new house.

Then one day over lunch we were talking about upcoming vacation plans, and he mentioned that he was going to be attending a weekend bachelor party for a friend.

In Dublin.

My eyes almost popped out of my head. I have never gone further than Montreal for a bachelor party, and the vast majority that I ever went to started at the Laf and ended at the Bare Fax. Pretty sure if I'd been invited to one that involved a plane ticked I would have politely declined.

 

[Masked]

nowhere near as big.

Not even close. To me, that's like comparing metro grocery stores to Wal Mart.

Arcteryx was bought out by salomon in 2001(french) and then sold to amer sports in 2005 (Finnish) and then sold 56% to anta sports (Chinese).

The last time it was Canadian I was 12 and had never heard of it. But I did hear of Nike lol.

Arcteryx has a market cap of 15 billion. Nike is 110 billion.

It's the equivalent of a city having 110 story skyscrapers and we say "we have those too", and point to a 15 story apartment building at Lee's.

So it's about 1/8 the size of Nike? That sounds about right considering the size of the markets.

If you're comparing Canada to the most powerful economic country in the world, you're always going to be disappointed. But there is a Canadian corporation that has more retail outlets than any US corporation if that makes you feel any better.

 

[jbeck5]

So it's about 1/8 the size of Nike? That sounds about right considering the size of the markets.

If you're comparing Canada to the most powerful economic country in the world, you're always going to be disappointed. But there is a Canadian corporation that has more retail outlets than any US corporation if that makes you feel any better.

It's really not the same. You would be hard pressed to name as many companies or as big of companies...

If you name 1/8 of the companies and the companies are 1/8th of the size, than that's 1/16th of the production for the economie.

I've seen extensive studies, and we do not come close to hitting the 1/8th mark.

US GDP is 27.72 trillion.

We have 1/8th the population so we should have ~3.5 trillion GDP right?

Canada GDP: 2.142 trillion.

So why is it such a significant percentage lower?

We have more red tape and interference for a lot of industries.

 

[maclean]

Dont like to weigh in too much on these "how hard is it to live within your means now verses in my day" stories, just because I realize how disconnected I am from how younger people have it today.

But there is one story I have to share.

I used to work with a guy in his early 30s, for various reasons he was just getting going in his career and had been in this job for about 2 years. Was still living at his parents place. Making a reasonable salary, but not great. He would from time to time complain about the cost of living and how expensive it was to buy a new house.

Then one day over lunch we were talking about upcoming vacation plans, and he mentioned that he was going to be attending a weekend bachelor party for a friend.

In Dublin.

My eyes almost popped out of my head. I have never gone further than Montreal for a bachelor party, and the vast majority that I ever went to started at the Laf and ended at the Bare Fax. Pretty sure if I'd been invited to one that involved a plane ticked I would have politely declined.

I feel like what that speaks to particularly is just how high the "bar" has risen. As a kid I remember some innate jealousy for the kids with the pump-up shoes or who were taking a week off school to go to Florida in the winter. These days it's destination weddings. My parents got married in our front yard! Last time I was in Canada we went down to Sand Banks, like 75% of the people there had a whole tent city set up on the beach. It just feels like wealth has gotten out of control and that does a lot to depress those just scraping by, and has a practical impact on anyone looking to acquire a place to live because that's your direct competition, buddy adding on a fifth property

 

[Masked]

It's really not the same. You would be hard pressed to name as many companies or as big of companies...

If you name 1/8 of the companies and the companies are 1/8th of the size, than that's 1/16th of the production for the economie.

I've seen extensive studies, and we do not come close to hitting the 1/8th mark.

US GDP is 27.72 trillion.

We have 1/8th the population so we should have ~3.5 trillion GDP right?

Canada GDP: 2.142 trillion.

So why is it such a significant percentage lower?

We have more red tape and interference for a lot of industries.

You're comparing Canada to the world's best economy that has significant advantages because of it's position as the world's best economy. Compare Canada's GDP per capita to other G7 countries and things aren't that bad.

 

[mysens]

I believe that is very much the case - Canada is not friendly to business, and when it has been the government of the day has been accused of lining the pockets of the ultra-wealthy. Our own PM moved his company from Canada to New York just last fall.

Absolutely a big big reason we are in the dumps. Too much red tape and the taxes are insane. Look at Stelantis who just announced to move their entire operation to the USA. This is a massive collapse and its only going to get worse. We need to make it attractive for companies and industries to stay here. This will bring much more capital to Canada which would allow tax cuts for the common folk like us. It can be done, just not with the same same of the last 9 years plus.

 

[Stylizer1]

The problem is the people at the top will always siphon off as much of the profit as possible while leaving society to pick up the costs. The rules and regulations attempt to address that, but it's certainly fair to argue they miss the mark. I reject a nostalgia mindset but the fact is that in the past, the big players saw benefit in lifting up society with them, whether it be building housing for their employees, supporting cultural initiatives, etc. Now it's just stuff all the profits offshore and lobby for no rules

That's globalism in a nut shell and what killed the middle class. Globalists have no allegiance to a country, they care about profit. That is why we are addicted to cheap products from China, imported tomatoes from Mexico, and cheap clothing from India. Globalists are the ones behind slave labour around the world and its the reason why those countries will never achieve parity with established markets. This is how the system was designed.

 

[Stylizer1]

Absolutely a big big reason we are in the dumps. Too much red tape and the taxes are insane. Look at Stelantis who just announced to move their entire operation to the USA. This is a massive collapse and its only going to get worse. We need to make it attractive for companies and industries to stay here. This will bring much more capital to Canada which would allow tax cuts for the common folk like us. It can be done, just not with the same same of the last 9 years plus.

And why did they do that? the threat of tariffs. With the natural resources Canada has we should be a market all of these companies would want to be in. Instead we export raw materials and let them make the profits. Tariffs suck for us but sooner than later it's going to be great for the middle class in the US. If we were an asset to the US we would be a partner instead of a victim. This way of thinking goes against globalism.

 

[jbeck5]

You're comparing Canada to the world's best economy that has significant advantages because of it's position as the world's best economy. Compare Canada's GDP per capita to other G7 countries and things aren't that bad.

For sure. I'm just wondering how we would go about improving our GDP per capita. We rank 18th.

Top countries include countries like Monaco, Luxenberg, Switzerland, etc.

They're all known for great lifestyles and healthy and happy and advanced and safe.

Would be nice to learn from them, no?

 

[jbeck5]

Dont like to weigh in too much on these "how hard is it to live within your means now verses in my day" stories, just because I realize how disconnected I am from how younger people have it today.

But there is one story I have to share.

I used to work with a guy in his early 30s, for various reasons he was just getting going in his career and had been in this job for about 2 years. Was still living at his parents place. Making a reasonable salary, but not great. He would from time to time complain about the cost of living and how expensive it was to buy a new house.

Then one day over lunch we were talking about upcoming vacation plans, and he mentioned that he was going to be attending a weekend bachelor party for a friend.

In Dublin.

My eyes almost popped out of my head. I have never gone further than Montreal for a bachelor party, and the vast majority that I ever went to started at the Laf and ended at the Bare Fax. Pretty sure if I'd been invited to one that involved a plane ticked I would have politely declined.

People love to travel. My social media is filled with people I went to highschool with that have higher education and better jobs but don't own their homes...yet they've probably left the country 20 times in the last 15 years. Here's a photo album of going to Australia in 2009. Here's Cancun in 2010. Dominican in 2011. Spain in 2012. Here's Jamaica in 2014. Here's Vegas in 2015. Here's a south american trip in 2017. Did an East Asia trip in 2019. Here's Europe 2024. Well it's Europe, can't just do 2 weeks. Did 4 weeks. Going to my friends destination wedding this fall!

"Geez, houses are so expensive. Our parents could own a house" without realizing our parents weren't going around the world every year or two.


I have left zero times. These trips add up to the tune of a downpayment, especially if you just invested your money in a safe long term investments returning ~10% a year.

Owning a home is easy enough still with a couple with at least average jobs, and minimal expenses. It's the people who can't not spend money or who work minimum wage jobs or refuse to buy as a couple or a collection of all 3 that I see the most often complaining about housing prices. At least that's my circle of 25-35 year olds, many working for the government.

 

[Stylizer1]

People love to travel. My social media is filled with people I went to highschool with that have higher education and better jobs but don't own their homes...yet they've probably left the country 20 times in the last 15 years. Here's a photo album of going to Australia in 2009. Here's Cancun in 2010. Dominican in 2011. Spain in 2012. Here's Jamaica in 2014. Here's Vegas in 2015. Here's a south american trip in 2017. Did an East Asia trip in 2019. Here's Europe 2024. Well it's Europe, can't just do 2 weeks. Did 4 weeks. Going to my friends destination wedding this fall!

"Geez, houses are so expensive. Our parents could own a house" without realizing our parents weren't going around the world every year or two.


I have left zero times. These trips add up to the tune of a downpayment, especially if you just invested your money in a safe long term investments returning ~10% a year.

Owning a home is easy enough still with a couple with at least average jobs, and minimal expenses. It's the people who can't not spend money or who work minimum wage jobs or refuse to buy as a couple or a collection of all 3 that I see the most often complaining about housing prices. At least that's my circle of 25-35 year olds, many working for the government.

Traveling is a hell of a drug. With the money you spend on weed and beer you could go somewhere each your and not impact your finances. You would probably get way more out of it too.

 

[Stylizer1]

Ewwwwww, what just happened

 

[Stylizer1]

Ewwwwww, what just happened

this is not light theme. This is Montreal Canadiens theme.

 

[Stylizer1]

this is not light theme. This is Montreal Canadiens theme.

there we go

 

[jbeck5]

Traveling is a hell of a drug. With the money you spend on weed and beer you could go somewhere each your and not impact your finances. You would probably get way more out of it too.

No way. Weed gives me fun all day everyday.

I'm totally an hours of enjoyment per dollar.

So if I quit weed and alcohol, that money would go to a better car, computer, tv, bed, couch, etc.

Spending money on something that is gone quick has never been my thing.

If I go to the casino with 20 dollars, I would be betting 25 cents on that big horse racing table because I would get the most amount of time of fun with that $20, for example.