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Outlook for 2011 - Winnipeg Manitoba

Dec. 31, 2010

Saying hello 2011 doesn't exactly seem like a happy proclamation for Winnipeg. This city has a mayor who was only elected because there truly was no other person to vote for. A stark reminder of the last mayor's race when Sam Katz ran and won with the same circumstances.

We have a football stadium that's been jammed down our throats - that perhaps only 8%of the city actually wants. And, a gigantic money pit known as the Human Rights Museum (originally it was supposed to be a Holocaust Survivors Museum but that was to "race specific" to generate enough capitol to build the thing) sucking back money from the city, province and feds at a rate that would choke a banker. Crime is off the charts. Robberies and home invasions are in the news everyday. So, what can we expect from 2011?

First off, the good news might actually be that I believe more people will start to wake-up as to how badly we are getting screwed both in the 'Peg and in Canada as well. Bus fares are going up, property taxes are going up, the housing market is showing signs of a bubble ready to pop. And, around more and more corners we're seeing speed traps and speed light cameras. The people are getting hit on every level. It is justice that if I go 5 miles over the speed limit there's a cop waiting there (or a camera) ready to nail me or you. But hey, it's a-o-k to rob the people blind like these politicians, broker's and bankers are doing and that's okay. They just get a slap on the wrist. The question will be where will they make up the money these twits need for the stadium and the human rights museum? It will be sucked out of you and I. 2011 will be the year of new fees!

We'll see licensing fees, higher parking fees, hikes in water fees, you name it - they're going to squeeze every dollar out of the people. Canadians are incredibly blind so they won't even see that they're being hit with the same austerity measures that are being placed upon the people of Europe.

What about our dollar? How will it fair to the US dollar, or to Gold & Silver? I predict that the bull is really going to run this year and Gold / Silver will begin to perform like never before. Why? Because both Canada & the US keep the interest rates artificially low, and they are printing money into circulation that isn't backed by anything other than debt. Look for $2,000.00 per ounce gold in 2011.

In the department of crime... expect it to get much worse. Already you may have noticed a rise in Pharmacy heists, restaurant robberies. We never hear about the bank robberies because they're kept out of the news. Yet, the TD bank on Corydon Ave. was recently violently held up! Gee guess it was a busy news day and they had to skip that article. Once the bubble pops in the real estate market and things really hit the fan Crime will go nuclear. All of those yuppies who took out huge 37 year 5% down mortgages on homes sold for $550,000.00 will be in big, big trouble. Especially, after their home value drops 85% and they're stuck with a mortgage for something that's worth pennies on the dollar. We'll begin to see a huge no-money / no-job issue and that will only equal short fuses and more crime.

Expect more complaining when the real estate bubble pops and as the govt. begins to crack down. We'll start to see cyber attacks and world wide cyber crime. And, those who have gone to University can expect a glorious future degree in hand stocking shelves at Wal Mart or re-filling the sugar bowl at Starbucks.

Ahhh, 2011. She sure don't sound like a lovely one to me. Guess we'll wait and see what she brings.

Kevin P.
Wpg. Report

3 comments:

  1. Clivie454 says:

    Ha ha ha, great one Kev. Yeah my neice went to that Asper school of business (SCAM) and she works at Starbucks. Gotta forward your post to her!

  1. Alvin P. Runtkeau says:

    2011 will be a bloody mess. Once the real estate bubble pops in Canada it will send a ripple through the economy of biblical proportion. 20% of Canada's GDP is new home construction. That will grind to a hault. Fuel will settle at around $125 - 150.00 a barrel sending food and commodities through the roof. The full disastrous effects of this won't be felt until 2012. That will be hell for Canada.

  1. Paul J. Penner says:

    From my perspective, homes are still overvalued, just take a sober analysis of the current economy. The country is overly indebted, savings-depleted and underemployed. Without government guarantees no private lenders would be active in the mortgage market, and without ridiculously low interest rates from the Bank of Canada any available credit would cost home buyers much more. These are not conditions that inspire confidence.

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