JT's not the only one handing out free money...

[nobbie48]

As a civil servant...I take offence to this. I work my *** off and have never worked this hard in the private sector as I currently do...and for less money!

But since I like you and you've been great in person, I'll let it slide

You are covered by exclusion with the "In general" statement. I also have a nephew in engineering that works for a private company but is funded by a government project. Constant frustrations by lack of foresight and meddling by incompetents.

Problem #1 with governments is the number of weasels that work their way up. Most civil servants just want to do their jobs and that's fine. However the ones that make more than average have an incentive to not bite the hand that feels them up. taking one for the boss ensures good reviews. Not doing so is step down.

If a civil servant's wages / benefits were on par with the private sector, workers would be less likely to stand behind corrupt or incompetent bosses because lateral moves would be easy to come by. Enabling is the problem.

 

[Mad Mike]

As a civil servant...I take offence to this. I work my *** off and have never worked this hard in the private sector as I currently do...and for less money!

But since I like you and you've been great in person, I'll let it slide

I don't think you can paint every civil servant with the same brush. I've seen people who dig holes faster than a gopher, and others who stand guard over a hole to make sure the hole doesn't take a union job by digging itself.

I think the stereotype is of the latter.

I accept it. What I dont accept is someone telling me their 1000 hour a year PSU job is so much harder than the same 2000hr a year job in the private sector.

 

[FullMotoJacket]

We'll strike for as long as it takes! Wait what?

Ontario Teachers' Pension reveals US$95-million exposure to troubled crypto exchange FTX

FTX was a high-flyer in the crypto world before its spectacular fall this week. Read more.

financialpost.com

 

[GreyGhost]

We'll strike for as long as it takes! Wait what?

Ontario Teachers' Pension reveals US$95-million exposure to troubled crypto exchange FTX

FTX was a high-flyer in the crypto world before its spectacular fall this week. Read more.

financialpost.com

I like how they write off 95M as 0.05% of holdings so it's no big deal. What happened to due diligence? It is the lifetime contribution of many many members that you just lost. Why not just go to the casino with pension funds? you probably have better odds there.

 

[DownUnder]

I like how they write off 95M as 0.05% of holdings so it's no big deal. What happened to due diligence? It is the lifetime contribution of many many members that you just lost. Why not just go to the casino with pension funds? you probably have better odds there.

The fact a pension fund would invest in crypto is baffling to me. Considering how volatile it is, it should never even be considered in their portfolio.

 

[Mad Mike]

I like how they write off 95M as 0.05% of holdings so it's no big deal. What happened to due diligence? It is the lifetime contribution of many many members that you just lost. Why not just go to the casino with pension funds? you probably have better odds there.

No problem for the fund. All they need to recover can be done by jacking the price of Leafs tickets by another $100 bucks.

 

[jc100]

The fact a pension fund would invest in crypto is baffling to me. Considering how volatile it is, it should never even be considered in their portfolio.

Who administers the fund? That’s a bit suspicious.

I’m glad my pension fund invests in ethical ventures with a proven financial payback such as landmine manufacturing facilities, child soldier recruitment agencies and blood diamond mines.

Seriously though, I think mine is reasonably OK.

 

[mimico_polak]

I like how they write off 95M as 0.05% of holdings so it's no big deal. What happened to due diligence? It is the lifetime contribution of many many members that you just lost. Why not just go to the casino with pension funds? you probably have better odds there.

It's ONLY 95M...because it's not the administrators' money. They get paid either way.

That's ridiculous. I'd be fuming if I was part of that. Which reminds me, need to check my OMERS fund.

 

[nobbie48]

I'm in the Ponzi camp regarding crypto but wish that someone had pestered me buy some bitcoin when it was in diapers and worth a fraction of a penny. "Here's $10 if you never bug me about it again."
$10 bought 12,500 Bitcoin = $275 M today. It was close to a billion a year ago.

If it is a Ponzi how would I feel about the person that sold the farm to buy in at $80,000 and see it crash????

 

[GreyGhost]

I'm in the Ponzi camp regarding crypto but wish that someone had pestered me buy some bitcoin when it was in diapers and worth a fraction of a penny. "Here's $10 if you never bug me about it again."
$10 bought 12,500 Bitcoin = $275 M today. It was close to a billion a year ago.

If it is a Ponzi how would I feel about the person that sold the farm to buy in at $80,000 and see it crash????

The key is treat it as gambling and only put in what you can afford to lose. Put $100 in each new token as a flyer and sell 10% of holdings everytime it goes up an order of
magnitude. Most will be losers, a few may pay off large. When the winners eventually tank, you have already pulled out a ton of money.

 

[backmarkerducati]

I am short/bear on bitcoin and have been for a while, no complaints from me these days.... Although a little while back I had to keep a steady hand on the tiller. The whales were propping it up, some whales are getting beached now.

Same as investing in it, being against it...not money I cannot afford to lose. I see lots of technical reasons to be bear but there is still the air of crazy, beached whales and all.

 

[nobbie48]

The key is treat it as gambling and only put in what you can afford to lose. Put $100 in each new token as a flyer and sell 10% of holdings everytime it goes up an order of
magnitude. Most will be losers, a few may pay off large. When the winners eventually tank, you have already pulled out a ton of money.

When my cousins rope me into going to the horse races I set aside $20 for show bets. When it's gone I stop betting. If I win anything it's a bonus to the fun of seeing my cousin curse at her choices in French.

 

[crankcall]

Any stock investment , can tank in the right market . Never invest money in a moving commodity you could not live without .


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[Mad Mike]

The fact a pension fund would invest in crypto is baffling to me. Considering how volatile it is, it should never even be considered in their portfolio.

The Teachers pension is one of the best performing pension plans on earth. When you get to their level, investing and lending strategies get very complex. In thus instance, they have an investment allocation and specialty in high risk, high reward ventures. Angel and VC type investing is part of their shtick.

It's not unusual. My BIL heads up a group that does this in one of Canada's largest charter bank.

 

[FullMotoJacket]

FTX is filing for bankruptcy. I'm guessing Mercedes will be peeling their logos off the W-13 before the sprint race tomorrow.

EDIT: Checked The Race. Mercedes has suspended their deal with FTX.

Mercedes F1 team suspends deal with crisis-hit crypto sponsor - The Race

The Mercedes Formula 1 team has suspended its partnership with in-crisis cryptocurrency exchange FTX ahead of the Brazilian Grand Prix

the-race.com

 

[crankcall]

The Mercedes are significantly faster with that Logo scratched off ……


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[Baggsy]

Listening to the news. The report is that Doug Ford blinked and took the unprecedented step of invoking the notwithstanding clause.
Union was negotiating in good faith and the government in bad somehow. I thought it was the reverse. Gov't said bargain & Union said strike.

Not understanding. What is this news source talking about?

 

[timtune]

I thought dofo blinked when he repealed the invocation of the notwithstanding clause.

Notwith standing clause - Only in Canada could we come up with that. "Here are the rules. And this is the rule that let's you break the other rules"

 

[800over]

Listening to the news. The report is that Doug Ford blinked and took the unprecedented step of invoking the notwithstanding clause.
Union was negotiating in good faith and the government in bad somehow. I thought it was the reverse. Gov't said bargain & Union said strike.

Not understanding. What is this news source talking about?

the timing is up to who you believe...but either way the facts are that the province offered the Union a contract below what the Union wanted and would not negotiate above the 1.5 for above 40k and 2.5% for those below. The union said ok we'll strike with 5 days notice and the Govenrment already had the NWC legislation ready to go. they passed the legislation and the Union said fine we'll strike anyways. Again depending on the source it looks like there was going to be a general strike with way more unions coming and Ford's buddies told him you need to back away from the edge or this will get worse. So he removed the NWC legislation and now they are at the table.

TLDR: The gov had no intention of bargaining and thought the NWC would cover them (as it has twice already).

 

[Evoex]

the timing is up to who you believe...but either way the facts are that the province offered the Union a contract below what the Union wanted and would not negotiate above the 1.5 for above 40k and 2.5% for those below. The union said ok we'll strike with 5 days notice and the Govenrment already had the NWC legislation ready to go. they passed the legislation and the Union said fine we'll strike anyways. Again depending on the source it looks like there was going to be a general strike with way more unions coming and Ford's buddies told him you need to back away from the edge or this will get worse. So he removed the NWC legislation and now they are at the table.

TLDR: The gov had no intention of bargaining and thought the NWC would cover them (as it has twice already).

Sword cuts both ways. Use of the NWC also got them talking again, union agreed to end the strike if the government repealed the legislation.

Right says Doug a genius.

Left says he's a desperate moron who blinked.

/shrug