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Chris Martenson: Extreme Frugality

Chris Martenson: Extreme Frugality thumbnail

We didn’t have a lot growing up, as my mom had to single-parent three kids. Most anything I wanted required disciplined frugality.

I bought my first fly rod from Orvis at the age of 13, which took the better part of a year to save up for. I hand-tied the first flies drifted from its lines from the hackles of roosters I raised expressly for that purpose.

In my later teens, I took a long cross-country climbing/working road trip where I lived on $5/week (1980s). Doing so was an art form involving dried beans and camping for free on federal lands, including the time I woke up to a large bull pawing and snorting a few yards from my tent.  I knew nothing about the behavior of bulls, and still don’t; but I knew that wasn’t a good sign and so I backed away using the tent as a shield and climbed a tree.

Sleeping on the ground, or on sofas doesn’t bother me. I am a remarkably un-picky eater. I’m just easy that way.

All of which is to say that being frugal and ‘making do’ with what’s on hand comes naturally to me.  Don’t get me wrong, I can enjoy spending money, and have indulged in some expensive hobbies in my life. But I can also zipper the wallet and not skip a beat.

I’m glad I can, because being frugal is an extremely valuable skill to employ as we get ready for a future of ‘less’.

System Failure

Sometime, much sooner than we’ll be ready for, the systems upon which we rely will fail us.

The weather system is already becoming intolerably wonky. Heat in Europe, crop-ruining rains in the US farm belt, and unprecedented heat in the arctic are all telling us that something is terribly amiss.

In fact, at this moment on an 80-degree late June night, in New England, I’m typing next to an open window, no screen, the room lights on, and there are exactly zero insects flying about the room. Not a single one.  I’m old enough to remember the swarms of beetles, moths, mosquitos, and other bugs that such a night would have brought.  That they aren’t here tonight is extremely unsettling to me.

Anyone who can read or access the internet and has at least minimal curiosity can detect the signs of the deep stress all around us — in our environment, in our society, and in our economy.

It’s critical to realize that everything in the financial sphere — from the lofty prices of stocks and bonds to the fiscal solvency of nations — depends on the future economy being exponentially larger than it is currently.  But this expectation is flawed; you can’t extract ever-increasing exponential growth from a finite system.

A ‘credit recession’ almost destroyed the global economy last time (2008). Yet now there’s an even larger one primed and ready to burst.

But you’d never know that by watching the nightly news or reading the major media outlets. Because the more dangerously-lopsided things become, the more urgently the entire interlocking system of narrative control works to convince the masses that everything is fine.

But curious critical thinkers like you and I know that’s not true.

Our knowing is in the ecological data, which is horrifying.  Plastic pollution now virtually everywhere, vanishing insect and amphibian populations, steadily declining phytoplankton levelsweather anomaliesshattering records across the globe, food chain disruptions in the oceans leading to massive bird and whale die-offs, and coral reefs disappearing with frightening speed.

It is in the cultural and sociological data, which show that the epidemic of obesity continues to worsensuicide rates are hitting record high levels, multiplying increasing feelings of isolation, and record levels of being miserable and unhappy around the globe.

It’s in the economic data, which shows the widest wealth and income gaps in history, 62% of millennials struggling from paycheck to paycheck, desperate central banks able only to conceive of ever-more stimulus (easing) efforts, massive and rapidly growing debt piles, the misery of households that do not have any emergency buffers to draw upon, and in the US alone, over $200 trillion of underfunded pension and Medicare promises that can’t ever be met.

Even if we could set all of the above aside (and we cannot), a looming net energy crisis tells us that the future will be terribly different from the past.  Most people are unaware — falsely lulled by the recent US shale ponzi — that oil production will indeed peak and then decline.  Or that total net energy output from fossil fuel is already falling steadily now that all the easy oil and gas are gone.

Our economic and population arrangements were made back when huge 100:1 net energy returns from fossil fuel were routine.  Comprehensive planning and mitigation strategies have to be made right away if we are to transition to the lower ~5:1 returns offered by shale oil and solar.

Forty to sixty years are required to effect a smooth energy transition.  Meanwhile it looks like oil output may well peak in the US around 2025 (a lot depends on easy credit and a high price for oil), has already peaked and gone down in 18 countries since 2005, and the world remains heavily dependent on the output from a small handful of ageing super-giant oil fields discovered and put into service more than 50 years ago.

In other words, we don’t have 40 to 60 years. We may only have ten. Yet no urgency can be detected in the official policies of the world’s major nations.

Industrially-farmed soils are going to be completely exhausted within 40-60 years, requiring ever larger fossil energy inputs to keep them transiently supplied with nutrients.

Add all that up and what do you have?  A very strong case for a very uncertain future.

My interpretation is these are the warning signs of a global culture that has grown past its natural carrying capacity and has yet to face that reality.

Which is why the sociological data tells me that people are very worried, even if they cannot exactly explain why.

Extreme Frugality

Given all that, everybody wants to know: What should I do?

It turns out there’s one fairly robust response that any individual can employ that will help address the developing predicaments identified above: Extreme frugality.

Don’t have much money?  Then spend less. 

Have money and want to protect it?  Also, spend less.

Want to protect the natural world?  Then consume less. 

Want to be happier?  Then spend less and gain more free time.

Worried about money?  Then spend less, save more, and have more.

Want to resist corporations’ endless grabbing of your money?  Then be frugal.

Want to retire earlier?  Spend less and save more.

The answer to many of the challenges we face are directly addressed by spending less and consuming less.

Taking a cue from an old Saturday Night Live skit with Steve Martin, if you cannot afford it, don’t buy it!

There’s a lot to be said for frugality and especially extreme frugality.  By cutting out all unnecessary expenses, you align your concerns with your actions.  It helps you regain control over your financial life, especially if you are on (or over!) the edge.  Statistically speaking, that’s most people out there.

This won’t work for everybody; some people just don’t have the psychological make-up to be frugal. They’re too addicted to the instant gratification, “buy now, pay later” consumerism that corporate retailers and credit card companies do their best to hook us on.

But the concept of extreme frugality doesn’t frighten me. Or seem like deprivation. It just fits with who I am.  I’m perfectly happy scoring a used, dented item at a tag sale or on freecycle.org as long as it suits my needs.

And it shouldn’t frighten you. Frugality is one of the fastest paths towards relieving the ever-present money worries that plague most of us. It’s a freeing act.

The less money we require, the less control money has over us — how we spend our time and our level of happiness.

I’m not saying we all have to become ascetics and embrace a life of poverty. What I am saying is that frugality helps re-center our priorities away from the superficial and material and towards true substance — fulfilling relationships, meaningful activity, our connection to nature.

Henry David Thoreau captured the gestalt of extreme frugality well when he penned:

Quote: I make myself rich by making my wants few

And as we as individuals reduce our level of consumerism, collectively, we reduce the demand our economy places on our strained ecosystems.

Given all that’s at stake, seems like we should be willing to give this a try.

Getting Started

Looks, the world is changing rapidly, and nobody knows how long the current good times will last.  And we’re well overdue for some kind of clearing event — the next recession, more record-breaking weather, a debt crisis, an implosion of the current credit cycle. The list of candidates is long.

At Peak Prosperity we’ve been staunch advocates of keeping your money safe, building multiple streams of income, and being as thoughtful as possible in your financial affairs.

Given the extreme state of the world, and given that tighter times almost certainly lie before us, it only makes sense to explore and adopt as many sensible frugality measures as we can, while we can still do them on our own terms.

One of the great killers of the last big bust in 2008 for many people was their too-slow dialing back of expenses.  They lost their jobs but kept up the same level of spending.  Kids stayed in private schools, eating out continued, and every subscription and cell phone plan remained in place.  When the unemployment rate kept rising, and the savings were finally gone, many families experienced the deep trauma of sudden, forcibly-imposed austerity — which was not fun. Not fun at all.

Learning the skills and habits of being frugal will be important for the future of “less” that’s coming.  Indeed, as wide-scale layoffs are starting to happen again, for many it’s already arriving.

Those looking to kick-start a more frugal lifestyle can begin with these straightforward steps:

  1. Create a good set of ‘books’ for your finances. Have a solid income statement and balance sheet.
  2. Identify all expenses that can be trimmed and cut as many as you can. Then set a budget and stick to it.
  3. Identify passive income streams that you can build over time. We created a detailed report here on the topic. Also,  our excellent educational webinar series on investing in income-producing real estate has been praised as extremely valuable.
  4. Whatever money you have invested in the markets, be sure it is being managed prudently by professionals who understand the growing risks of a damaging market decline. Feel free to schedule a free portfolio crash audit with the financial adviser Peak Prosperity endorses.

But if you already have a good handle on these (as many Peak Prosperity readers do), there’s an exploding global community focused on extreme frugality to plug in to.

In Part 2: Live Frugally, Retire Comfortably we look at the major strategies recommended by the leading resources in this community for reducing your ‘money footprint’ and advancing the date when you achieve financial independence.

There are many levers to pull, on both the both the income and expenses sides of the ledger. Your task is to determine which are best for you.

But the key here is to do the math and then take informed action. Your future resilient self depends on it.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access).

Chris Martenson – Peak Prosperity



46 Comments on "Chris Martenson: Extreme Frugality"

  1. JuanP on Sat, 29th Jun 2019 11:57 am 

    Makes sense to me! I have always lived below my means, now I am enjoying the benefits. I am 50, retired, and will never have to worry about money. By the way, I still live below my means.

  2. Gaia on Sat, 29th Jun 2019 11:58 am 

    In order to be frugal, people have to live within their means and make do with what they have. It’s ok to live a little but do this in moderation.

  3. Davy on Sat, 29th Jun 2019 2:04 pm 

    “Makes sense to me! I have always lived below my means, now I am enjoying the benefits.”
    Daddy has supported your needs and you are in a country that has been good to you and you hate it. Go home where you belong.

    “ I am 50, retired, and will never have to worry about money. By the way, I still live below my means.”
    Never is a big word juanpee. It is people like you in the horribly unsustainable of Miami Beach that will get their due one day. Your time will come one day. Anybody with attitudes as cocky and nasty as yours deserves what is coming also. I can’t stand people like you that rag how wonderful they are and how well they have it. Like Gaia you are a fuck nut

  4. Davy on Sat, 29th Jun 2019 2:06 pm 

    BTW, juanpee, are you going to come out from hiding now and make legitimate and respectful comments under your own handle? What changed?

  5. Anonymouse on Sat, 29th Jun 2019 2:53 pm 

    Shut up exceptionaltard. Your Extreme Nuttery, is exceeded only by your Extreme Hypocrisy. It still has not, and (never will) sink into that thick, dull-witted backwoods head of yours, that you dont decide what constitutes, ‘real comments’ Or
    anything else for that matter. For a semi-sentient lump of high-fructose corn syrup like you, that lives in a elaborately constructed fantasy world you sure do complain a lot about ‘real comments’, dont ya dumbass?

    Funny as hell coming from someone as utterly full of goatshit as you.

  6. bob on Sat, 29th Jun 2019 3:31 pm 

    I have just about given up on this Peak Oil site; this comment stream is why. No respect for anyone that says anything here. No thinking; just hate. I am tired of all of you.

  7. Davy on Sat, 29th Jun 2019 3:48 pm 

    Go away juanbobpeee, we are all tired of your socking. Come back when you can make a real comment and not under a sock-name bobpeee.

  8. Gaia on Sat, 29th Jun 2019 3:55 pm 

    Davy, you need to be admitted to a psychiatric hospital and should be prescribed medication. Your behaviour is unacceptable.

  9. Gaia on Sat, 29th Jun 2019 3:58 pm 

    Take responsibility for your actions, Davy.

  10. Gaia on Sat, 29th Jun 2019 4:08 pm 

    Wow,!that clarifies it juanpee is the mindless Gaia bot . You are such an obvious fuck, juanpee. Your comments coincided so well. LMFAO

  11. Gaia on Sat, 29th Jun 2019 4:57 pm 

    Davy, I don’t know you and you don’t know me. End of discussion.

  12. Gaia on Sat, 29th Jun 2019 5:07 pm 

    I am done with Peak Oil. I am tired of being cyberbullied by Davy.

  13. Gaia on Sat, 29th Jun 2019 5:20 pm 

    I don’t waste my time worrying about the America’s problems (It has nothing to do with me). The MSM is garbage.

  14. Gaia on Sat, 29th Jun 2019 5:22 pm 

    Religion and politics are two things I ignore.

  15. JuanP on Sat, 29th Jun 2019 5:23 pm 

    LMFAO. Cyberbully, JuanPee, is whining through his sock Gaia that he is getting cyber bullied. What a fuck nut. JuanPee. people are not interest in you mindless waste of time. They come here to discuss issues. Be
    gone loon.

  16. Anonymouse on Sat, 29th Jun 2019 5:40 pm 

    I got a header for you all.

    Davy Dumbass: Extreme Delusionality

    Be gone nutter

  17. Anonymouse on Sat, 29th Jun 2019 5:58 pm 

    Well, I am actually the biggest cyber bully who stalks a few here obsessively. I rarely make a good on topic comment and when I do it is so predictable it
    Is not worth reading. I can’t help it. Stalking gives me a high and I hate people.

  18. makati1 on Sat, 29th Jun 2019 6:06 pm 

    Anyone NOT living below their means is doomed. The fall from the ladder of consumption/debt will be a killer.

    Will that son not able to go to summer ball camp or that daughter not able to go to ballet classes be seriously deprived in the future? NOPE!

    Will they be deprived when daddy loses his job, the home they grew up in, and are living under the interstate overpass because they blew it on junk consumption? YEP!

    Americans have no clue about reality until that 2X4 hits them between the eyes and drops them to their knees. THAT is the near future for most of them. Step down now while it is a personal decision, not one forced on you.

  19. More Delusional Davy Identity Theft on Sat, 29th Jun 2019 6:27 pm 

    Gaia on Sat, 29th Jun 2019 4:08 pm

    JuanP on Sat, 29th Jun 2019 5:23 pm

    Anonymouse on Sat, 29th Jun 2019 5:58 pm

    Ban the loser.

  20. Gaia on Sat, 29th Jun 2019 6:32 pm 

    I am an educated, independent 30 year old who lives here in Canada (born and raised). I have no expectations, just appreciation (I live within my means). I don’t give a damn what the mainstream media says. I know what is happening to America: It’s military is stretched too thin, many young people are dying from suicide, mental illness, substance abuse, the national debt is still increasing, and the rest of the world is fed up of America’s belligerence. Trump is already isolating America from the rest of the world.

  21. Gaia on Sat, 29th Jun 2019 6:37 pm 

    The US, Israel and Saudi Arabia are the Axis Of Evil. They won’t win a war against Iran.

  22. more juanpee insanity on Sat, 29th Jun 2019 6:46 pm 

    More Delusional Davy Identity Theft on Sat, 29th Jun 2019 6:27 pm

    Gaia on Sat, 29th Jun 2019 4:08 pm
    JuanP on Sat, 29th Jun 2019 5:23 pm
    Anonymouse on Sat, 29th Jun 2019 5:58 pm
    Ban the loser.

  23. Gaia on Sat, 29th Jun 2019 6:48 pm 

    I am an educated, independent 30 year old who lives here in Canada (born and raised).

    sure you do juanpee, just another personality on parade

    “I have no expectations, just appreciation (I live within my means). I don’t give a damn what the mainstream media says.”

    your sock gaia, socks don’t have expectations

  24. Gaia on Sat, 29th Jun 2019 6:52 pm 

    America needs a leader like Rodrigo Duterte. This guy is democratically-elected and is smart. He is tough on crime (unlike America).

  25. JuanP on Sat, 29th Jun 2019 6:54 pm 

    Hypocrisy At The Border: Trump Villified For Obama’s Immigration Policy
    If “caging kids” was okay for Obama, what makes it inhumane for Trump? Now that the first round of Democratic debates are out of the way, it’s time to hammer down on the left’s constant caterwauling about the president’s immigration policies and caging of kids. The relentless barrage of insults aimed at Donald Trump for his cruelty and inhumane actions towards illegal aliens, families, and children is reminiscent of rabid wolves looking for their next victim. They are so far out of their minds with Trump Derangement Syndrome they can’t see the truth: These heinous tactics and polices were instituted before the Trump administration. Democrats frequently praise former president Barack Obama but conveniently forget about his strict immigration policies, many of which they attribute to Trump today and call outrageous and cold-hearted. In a 2014 interview with ABC News, Obama talked about the impossibility of tracking all of the children who get sold into sex slavery and other nefarious endings and warns immigrants not to send their kids to America. “So, that is our direct message to the families in Central America, do not send your children to the borders. If they do make it, they’ll get sent back. More importantly, they may not make it.” Recently, as Liberty Nation’s Jeff Charles reported, the dim-witted media darling Alexandria Ocasio-Cortez (D-NY) compared the migrant detention centers to the horrific concentration camps of the Holocaust. “The United States is running concentration camps on our southern border and that is exactly what they are,” she said. First, the young representative needs to learn the differences between the two – of which there are many. Second, we are using the exact same centers that were put into place under the Obama administration. Thomas Homan was Obama’s executive associate director of Immigration and Customs Enforcement for nearly four years. He confirmed that these facilities were the former president’s conception. “I’ve been to that facility, where they talk about cages,” he said. “That facility was built under President Obama under [Homeland Security] Secretary Jeh Johnson. I was there because I was there when it was built.” During an immigration conference on June 26, Homan cited an instance where the Democratic chairman had asked a Trump official if kids were still being kept in cages: “I would answer the question, ‘The kids are being house in the same facility built under the Obama administration.’ If you want to call them cages, call them cages. But if the left wants to call them cages and the Democrats want to call them cages then they have to accept the fact that they were built and funded in FY 2015.” About those cages: “It’s chain link dividers that keeps children separate from unrelated adults,” he said. “It’s about protecting children.” While Democrats like Elizabeth Warren (D-MA) go around claiming that illegal immigrants shouldn’t be considered illegal, Obama had the opposite view. “Even as we are a nation of immigrants, we are also a nation of laws,” he said in an address to the nation in Nov. 2014. “Undocumented workers broke our immigration laws, and I believe that they must be held accountable. Especially those who may be dangerous.” The left’s continued narrative of caging children and separating families is redundant and grossly exaggerated. They refuse to acknowledge any positives our president introduces, such as when he signed Executive Order #13841, ordering that detained families would not be separated unless the parents pose a danger to the child. Democrats also ignore the very real threat of the invasion of hundreds of thousands of illegal aliens trying to force their way across our border daily. The left lost their minds when Trump declared a national emergency to combat the migrant war at our southern border. Obama faced opposition when he tried to implement stricter immigration control too: “The actions I’m taking are not only lawful, but they’re the kind of actions taken by every single Republican president and every single Democrat president for the past half century. To those members of Congress who question my authority to make our immigration system work better, or question the wisdom of me acting where Congress has failed, I have one answer: Pass a bill.”

  26. Duncan Idaho on Sat, 29th Jun 2019 6:55 pm 

    The Fat Boy caved:
    “Trump’s current tariffs cost a family of four about $800 more a year. Had he gone ahead with his threat to tax all remaining Chinese imports, a typical family’s costs would have more than doubled to over $1,800.”

    He chickens out every time. I know he is dumb, but a chicken also.
    Might be the perfect leader for Late Stage Capitalism

  27. Gaia on Sat, 29th Jun 2019 7:10 pm 

    Davy, I don’t have time for your stubborn and close-minded attitude.

  28. makati1 on Sat, 29th Jun 2019 7:11 pm 

    Sissyfuss, I support Duterte all the way. I have not seen anything negative since he has been elected.

    I have seen a lot of US bullshit propaganda against him because he is intelligent enough to realize he cannot piss off China or Russia so he is open to both. You do not make your neighbors/allies into enemies, unless you are Trump.

    And yes, Duncan, Trump is the perfect one to take down Amerika. GO TRUMP!

  29. Davy on Sat, 29th Jun 2019 7:13 pm 

    I am an un-educated, loner, 70+ years old who lives here in Missouria (hatched and raised). I have a lot of expectations, and no appreciation of any kind for anyone or anything but myself. (I live within my delusional mind). I don’t give a damn what the anti-American extremists from Kanada and the the Philippines say about my beloved America. Everything the mainstream media says is true, unlike the fake alt-media who spread lies and dis-information. I know what is happening to America: It’s military is battling evil in Iran and Russia. National debt is still increasing, but that is because of welfare loving liberal cry-babys. And the rest of the world is happy with America’s intelligence and willingness to confront threats, like Venezuela. Trump is ready to make America great again.

  30. Gaia on Sat, 29th Jun 2019 7:21 pm 

    We need to ban cheap labor worldwide (end the exploitation of vulnerable women and children. Give them an education). All of this cheap stuff is made in sweatshops (where workers are underpaid, forced to work in a dangerous environment that is a health and safety hazard). All nations should give workers control of the economy (workers are the backbones of the global economy). We need to eliminate both poverty and wealth and make sure that everyone is able to live safe, healthy and comfortably. Workers, not money, is what keeps the global economy going.

  31. Gaia on Sat, 29th Jun 2019 7:33 pm 

    Makati1, why are (some) Americans hostile towards socialism? In my opinion, poverty and wealth are man-made, not natural. We shouldn’t have millionaires or billionaires and nobody should be forced to work under dangerous, unhealthy conditions.

  32. More Davy ID Theft on Sat, 29th Jun 2019 7:37 pm 

    More OBVIOUS DavySkum ID Theft:

    JuanP on Sat, 29th Jun 2019 6:54 pm

  33. Davy on Sat, 29th Jun 2019 7:40 pm 

    It’s the weekend and I’m issuing a Humper Pumper #9 Alert.

    The two things I love most are: Socks and Ebony Cocks.

  34. JuanP on Sat, 29th Jun 2019 7:42 pm 

    It’s the weekend and I’m issuing a Humper Pumper #9 Alert.
    The two things I love most are: Socks and Ebony

  35. Gaia on Sat, 29th Jun 2019 7:49 pm 

    Davy, nobody cares what your sexual orientation is. It’s your business, don’t broadcast it here on this site.

  36. JuanP on Sat, 29th Jun 2019 7:54 pm 

    Gaia “The US, Israel and Saudi Arabia are the Axis Of Evil.”
    You got that right!

  37. Davy on Sat, 29th Jun 2019 8:09 pm 

    Y’all might be wondering why I keep posting my zero iq bullshit under JuanP’s handle?

    https://www.zerohedge.com/news/2019-06-29/hypocrisy-border-trump-villified-obamas-immigration-policy

    Obviously it’s because I’m deranged and I have nothing more important to do with my pitiful sad excuse of an existence.

  38. Bob on Sat, 29th Jun 2019 8:45 pm 

    Gaia, nobody cares about you and your pompous BS don’t broadcast it here on this site. You are just a little kid acting big

  39. JuanP on Sat, 29th Jun 2019 8:47 pm 

    Mi Amigos you might be wondering why I keep posting my zero iq bullshit well it is a love hate thing. Obviously it’s because I’m deranged and I have nothing more important to do with my pitiful sad excuse of an existence.

  40. JuanP on Sat, 29th Jun 2019 8:49 pm 

    Gaia “The US, Israel and Saudi Arabia are the Axis Of Evil.”
    You got that right humper pumper!

  41. JuanP identity theft on Sat, 29th Jun 2019 8:50 pm 

    Gaia on Sat, 29th Jun 2019 7:33 pm

    Makati1, why are (some) Americans hostile towards socialism? In my opinion, poverty and wealth are man-made, not natural. We shouldn’t have millionaires or billionaires and nobody should be forced to work under dangerous, unhealthy conditions.

  42. Anonymouse on Sat, 29th Jun 2019 8:56 pm 

    I’m leaving!!

    Vancouver Housing Unaffordability Due To Foreign Ownership, Chinese Funds, & Migrant Millionaires, Study Says
    A new study has provided evidence linking unaffordable housing in Vancouver to foreign ownership, Chinese capital and millionaire migrants, according to the SCMP. A white paper published by Josh Gordon, an assistant professor at Simon Fraser University’s school of public policy, found a stunning 96% correlation between metro Vancouver municipalities’ price to income ratios and the proportion of their detached houses in which at least one owner was a non-resident. The correlation was called “unimpeachable” by a leading research who commented on the paper. In short, this means that the more that a Vancouver municipality was sought after by non-resident owners, the more unaffordable it became. Gordon said: “When I plugged the numbers in it blew my mind … I mean, holy smokes.” Now, the country has “become a global test bed for affordability policies, with the introduction of a foreign buyers’ tax, a speculation and vacancy tax, and increased provincial property taxes.” The average price of a detached house in metro Vancouver is now $1.2 million. Gordon’s study was the result of Richard Wozny’s 2017 report, which concluded that local incomes could not support prices. Wozny examined 14 Vancouver municipalities and Gordon, who said his work was “testament to Richard Wozny’s instincts and character”, looked at the same municipalities during his study. Yan concluded: “These are proxies for foreign money at times when we don’t have direct measures of foreign money. So we have these various scholars, with various data sets, all pointing in the same direction. That is a call for action.” And how bad has the market gotten in Vancouver? Just 2 weeks ago, we wrote that desperate developers in Vancouver were trying to woo millennials into buying using avocado toast and free wine. “It’s a slower, more competitive market,” according to Vancounver-based Wesgroup Properties VP Brad Jones, adding “The onus is on us to show we have the most attractive offering.”

  43. More Insane Davy Identity Theft on Sat, 29th Jun 2019 9:47 pm 

    Bob on Sat, 29th Jun 2019 8:45 pm

    JuanP on Sat, 29th Jun 2019 8:47 pm

    JuanP on Sat, 29th Jun 2019 8:49 pm

    Anonymouse on Sat, 29th Jun 2019 8:56 pm

    Go away davy you degenerate POS. Everyone has had it with your BS.

  44. Davy on Sat, 29th Jun 2019 9:56 pm 

    Oops, sorry everyone. I forgot the link again.

    https://www.zerohedge.com/news/2019-06-29/vancouver-housing-unaffordability-due-foreign-ownership-chinese-funds-migrant

  45. Cloggie on Sun, 30th Jun 2019 3:00 am 

    Vancouver Housing Unaffordability Due To Foreign Ownership, Chinese Funds, & Migrant Millionaires, Study Says

    A new study has provided evidence linking unaffordable housing in Vancouver to foreign ownership, Chinese capital and millionaire migrants, according to the SCMP.

    The Chinese are creating a nice beachhead for themselves on the American continent.

    But there is still life in Canada:

    https://www.eurocanadian.ca/2019/05/britain-started-wwi-and-wwii-and-both-times-blamed-germany.html

    Britain Started WWI And WWII And Both Times Blamed Germany

    Perhaps they will snub renewed membership of a post-Brexit British empire lite of the future and go PBM-direct, together with the fashi’s of the Heartland:

    https://www.youtube.com/watch?v=WsF5RFDme5c

    We’ll see.

  46. anon on Mon, 1st Jul 2019 3:56 am 

    theres only one catch with this. Right now one can still work ones ass off in the system , live frugally, and save up a sizeable chunk of money. not nearly as easy as it was a decade ago or a generation ago but still not impossible. However, now, one can no longer just go live frugally on those savings for any length of time. the instability of the system as it falls apart, on the one hand, and the ravenous and aggressive attack on peoples wealth while the system still hasn’t fully fallen apart, makes this a terribly risky proposition for normal people. you think you have money in the bank, until negative interest rates, real inflation, ‘wealth taxes’, arbitrary confiscations (cyprus, argentina, etc?) , and arbitrary controls and restrictions (greece?) will make that totally worthless. you think you saved it under the mattress? theyre trying to prohibit you from using cash more and more, with all kinds of insane restrictions (much of the EU anymore, as an example!) and the writing on the wall is clear, soon they will just confiscate that if they find you with a bunch of your savings in cash.. think you’re rich enough to have coins and metals? theyll try to make it impossible for you to trade those either. the net result of all this is that just being frugal is not enough anymore. we are stuck being locked out from being able to save any _money_ anymore because money obeys the physical laws those in power have tried to ignore- wealth is being destroyed and money has no long term value anymore, no matter what the bankers say! so we must keep working at the machine, as it’s only the short term in and out flows that can feed us. that is the worst, as it keeps us chained up at the machine and not free to work on making a living independently of the machine. only maybe those of us lucky enough to have saved enough of their money, and use it quickly enough to get something for it, and protect what little he has from their constant erosion, might manage it. even more than simple frugality it’s independence that matters. frugality inside the system, you’re just a prisoner. unless you use your frugality to escape the prison, what did you gain?

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