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COVID ECONOMICS


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#1181 Victoria Watcher

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Posted 23 November 2020 - 02:54 PM

Have heard that provinces were looking into people over the summer who had claimed both CERB and also had income assistance without any work through 2019. Can't get CERB without making $5000 in 2019. 

 

Can't find the article right now but on the weekend read one of a person who applied for CERB and is now getting income assistance clawed back. 

 

https://www.cbc.ca/n...-rent-1.5810230

 

Dorie Arnold, 43, is one of those who lost her provincial income support after she got CERB.

 

The Regina resident says she's broke, homeless and worse off now than before she started receiving the federal assistance.

 

Arnold was evicted from her two-bedroom rental suite in north central Regina after failing to pay rent of $800 a month for three months. Her landlord also put plywood over the door to her unit.

 

Until recently, she had always had enough money to make rent despite struggling to scrape by on roughly $1,200 a month in provincial income and disability assistance. She has chronic health issues and hasn't been able to work in years.

 

Things began to spiral downward in July when she got a tip about CERB from a stranger in the parking lot of a Tim Hortons.

 

"Some lady came up to my mom and asked if we were collecting the COVID money, and we were like, 'No, we never heard of it,'" Arnold said. "She said it's free money that's given to the low-income families to survive while the COVID's out."

 

That wasn't accurate, and Arnold should not have qualified for CERB payments. She said no one explained the criteria to her — or the consequences.

 

"One phone call, and give your social insurance [number] and then boom, you get $2,000. That's how easy it was," she said of the CERB process.

 

__________________________________

 

Dorie Arnold, who was cut off entirely, hasn't had any money coming in for months.

 

In October, she found food and shelter in Regina's Pasqua Hospital after an untreated finger wound developed a serious infection. She spent seven weeks in hospital and got released on Thursday.

 

She has an appointment with Social Services next week, and she hopes she can get back on provincial income assistance.

 

Until then, she'll couch surf and rely on the kindness of family and friends to survive.

 

 

 

 

 

 

 

now of course lots of the figures do not add up in that story.  she applied for CERB in july it says.

 

she got $4k.

 

she spent 7 weeks in hospital in october

 

and has not had any money coming in "in months".


Edited by Victoria Watcher, 23 November 2020 - 02:59 PM.

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#1182 TwilightZoneVictoria

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Posted 23 November 2020 - 03:06 PM

That's the article.

 

A stranger?

How'd she get the phone number to apply?

If she got it from the internet did she look into the qualifications?

Did she fact check the stranger that it was indeed free money?

How is she getting evicted? Was there a moratorium on evictions during the height of COVID?

 

Too many times after reading an article I'm asking these kids of questions. As it reads now the story doesn't make sense. At best it sounds like someone is blaming a stranger for the fact that they committed fraud. 


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#1183 Mike K.

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Posted 24 November 2020 - 06:59 AM

The administrative cost to comb through applications will itself be very high.


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#1184 Mike K.

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Posted 24 November 2020 - 09:02 AM

I'd like to put something in perspective for everyone.

 

Typical retail and office leases are arranged on five-year terms, i.e. you enter into an agreement with the landlord to operate your business from within the premises for five years, and you are obligated to maintain solvency/pay rent throughout that time.

 

What that means is roughly 20% of businesses have had their leases expire this year. I can see many operators opting to arrange with their landlords a month-to-month approach that would see them through the Holidays, and perhaps into early 2021 to gauge the economy, but beyond that the question remains how many of those 20% will maintain their solvency beyond December? And in 2021 we have a further 20% of business that will have their five-year term reach its end.


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#1185 Victoria Watcher

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Posted 24 November 2020 - 09:09 AM

i don't see any great reason for many retailers to exist.  

 

  • price
  • convenience
  • selection
  • service

 

most of the above can be achieved online.  or at walmart.

 

and for me anyway the "quality" question is usually answered by reading online reviews from certified buyers of the product.



#1186 Mike K.

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Posted 24 November 2020 - 09:27 AM

Retailers are just a portion of local businesses, though. Consider how many floors every building has, and that the retail outfit (or two) fronting the street represents just 1/5 or 1/10th or 1/20th of the businesses within.


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#1187 spanky123

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Posted 24 November 2020 - 10:21 AM

i don't see any great reason for many retailers to exist.  

 

  • price
  • convenience
  • selection
  • service

 

most of the above can be achieved online.  or at walmart.

 

and for me anyway the "quality" question is usually answered by reading online reviews from certified buyers of the product.

 

Don't worry, once most retailers have been driven out of business your Amazon or Walmart price will shoot up!

 

Having said that, I often go to local retailers for advice. Walmart and Amazon don't do that. Sure you can read online reviews and a few of those reviews might even be legit!



#1188 spanky123

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Posted 24 November 2020 - 10:24 AM

I'd like to put something in perspective for everyone.

 

Typical retail and office leases are arranged on five-year terms, i.e. you enter into an agreement with the landlord to operate your business from within the premises for five years, and you are obligated to maintain solvency/pay rent throughout that time.

 

What that means is roughly 20% of businesses have had their leases expire this year. I can see many operators opting to arrange with their landlords a month-to-month approach that would see them through the Holidays, and perhaps into early 2021 to gauge the economy, but beyond that the question remains how many of those 20% will maintain their solvency beyond December? And in 2021 we have a further 20% of business that will have their five-year term reach its end.

 

From what I am hearing anecdotally, a good commercial tenant with an expiring lease is getting an average of a 50% reduction to renew for 1-2 years.


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#1189 TwilightZoneVictoria

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Posted 25 November 2020 - 03:36 PM

Seeing as VREB and CREA put out monthly stats what's the best source for getting the same kind of info for commercial for Victoria and beyond?



#1190 Redd42

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Posted 27 November 2020 - 05:34 AM

From what I am hearing anecdotally, a good commercial tenant with an expiring lease is getting an average of a 50% reduction to renew for 1-2 years.

 But the problem isn't for those. Lucky for them if their leased expired during the pandemic. The problem is the majority of businesses that still have years left on their leases. As I mentioned before and Mike K said above.


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#1191 spanky123

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Posted 27 November 2020 - 07:51 AM

 But the problem isn't for those. Lucky for them if their leased expired during the pandemic. The problem is the majority of businesses that still have years left on their leases. As I mentioned before and Mike K said above.

 

Not disagreeing with you. 



#1192 Victoria Watcher

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Posted 30 November 2020 - 02:04 PM

The Liberal government is preparing to spend up to $100 billion to kick start the post-pandemic economy as it stares down a record-high deficit projection of more than $381 billion for this fiscal year.

https://www.cbc.ca/n...nding-1.5819449

Edited by Victoria Watcher, 30 November 2020 - 02:04 PM.


#1193 spanky123

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Posted 30 November 2020 - 02:19 PM

^ Not a surprise. They have screwed up enormously on a vaccine and buying people with their own money is a time proven method for ensuring loyalty come election time.



#1194 spanky123

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Posted 30 November 2020 - 02:29 PM

You gotta love how the Feds are making a big deal about going after Amazon, Netflix and Airbnb to start collecting taxes from the tech giants. All that is going to happen is that the 'giants' will start adding tax to their bills! They are not going to be paying a thing!

 

Ottawa to impose ‘fair share’ of tax on digital giants including Netflix, Amazon and Airbnb | The Star


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#1195 Victoria Watcher

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Posted 30 November 2020 - 07:41 PM

Nearly One-Third of Small Businesses in New York and New Jersey Shuttered Since January: Report

 

Nearly one-third of small businesses in New York and New Jersey remain closed since January, according to a Harvard-run database that tracks the economic impact of the pandemic.

 

In New York, 27.8 percent of small businesses have not reopened, while 31.2 percent remain closed in New Jersey as of Nov. 16, according to TrackTheRecovery.org.

 

At the height of the pandemic-related lockdowns in April, over 50 percent of small businesses in the Empire State shut their doors, the data shows. And while a significant portion reopened in the several months that followed, that rebound flatlined around summertime, hovering around the 27 percent mark until now. New Jersey’s small business activity followed much the same dynamic.

 

https://www.ntd.com/...ort_534369.html


Edited by Victoria Watcher, 30 November 2020 - 07:41 PM.


#1196 Victoria Watcher

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Posted 01 December 2020 - 12:15 PM

Juan de Fuca Director Mike Hicks expressed his disappointment Monday that the Capital Regional District electoral area received only $43,000 from the provincial government in a COVID-19 relief fund, significantly less money than a similar size municipality.

 

“I don’t understand why the government would think that the Juan de Fuca Electoral Area expenses are that much less than a municipality,” Hicks said.

 

“The numbers speak for themselves. I’m almost speechless. I really don’t know what to say.”

 

The funding is part of the $425 million of joint federal and provincial spending announced by the B.C. government in November. The grant was provided to assist with increased operating costs and lower revenue due to COVID‐19.

 

On average, municipalities received $200 per capita through the federal and provincial-funded Safe Restart Grant program. Regional district electoral areas were provided with $8 per capita.

 

Hicks argued the funding formula is unfair when Juan de Fuca, with more than 5,500 residents, receives a much smaller funding amount because it’s an electoral area. He points to Zeballos, a municipality that received $200,000 but has a population of 107.

 

“This is a real slap in the face,” Hicks said.

 

However, the District of Sooke, which received $2.9 million, took a different tone to the news when it was announced in early November.

 

“It’s more money than we expected,” Mayor Maja Tait said.

 

https://www.vicnews....-bailout-money/


Edited by Victoria Watcher, 01 December 2020 - 12:16 PM.


#1197 TwilightZoneVictoria

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Posted 01 December 2020 - 01:11 PM

There appears to be more of a COVID issue near Zeballos than Juan De Fuca right now.

 

 

 

A medical response team has been dispatched to a remote Vancouver Island First Nation community to help guide it through a serious COVID-19 outbreak.

 

Island Health and NTC nurses will be conducting testing in the Ehattesaht reserve and Zeballos Health Centre until Dec.4. NTC nurses have been going door-to-door over the weekend, testing and interacting with community residents to address health concerns.

 

 

https://vancouverisl...break-1.5211873



#1198 Victoria Watcher

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Posted 01 December 2020 - 03:15 PM

Terence Corcoran: Canada's cost of pandemonics tops $1.5 trillion
 
Canadians will eventually realize they have a national government in Ottawa that is woke but broke
 
 
The Trudeau Liberals’ fall economic statement stumbles through 200-plus pages of verbal political unreadable claptrap about building back better COVID-19 resilient green gender prudent fiscal stimulus affordable jumpstarted racial equality childcare climate solutions and employee stock option decisive dynamic Indigenous inclusive net-zero cross-border digital tax cut increases. At the end of this onslaught, which is all too typical of annual federal budgetary documents, Canadians are left with two big numbers.

Edited by Victoria Watcher, 01 December 2020 - 03:15 PM.

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#1199 LJ

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Posted 01 December 2020 - 08:47 PM

Trudeau turns Canada into deficit ridden nanny state

 

 

https://torontosun.c...UV7hJS2--s4DjQg


Edited by LJ, 01 December 2020 - 08:48 PM.

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Life's a journey......so roll down the window and enjoy the breeze.

#1200 Victoria Watcher

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Posted 02 December 2020 - 06:21 AM


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