What a morning...

Karl Marx

Well-Known Member
IMF says another crash on the way. Teresa May is toast. Hold on boys...Hard Brexit. The elites are all scurrying around trying to put a brave face on all the inequality they've created. Macron is trying to figure out how much families spend on groceries. Australian real estate market is crashing. Trump wants to trade cell phones for (District 9) hostages.
Putin must be really enjoying his morning reads today.

Gonna be a big day for my coffee maker.
 
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Karl Marx

Well-Known Member
When the real estate bubble pops in Toronto, don’t stand for too long at the bottom of those condos downtown. It will be raining bankrupt, Asian real estate investors from the balconies above.
Unfortunately most of the real estate bought by the Russians and Chinese was all laundered money and they paid cash. For the Chinese investors they have made more on their money sitting on empty condos in Toronto than they would have ever made putting money in Chinese banks.
 

Judgeetox

Well-Known Member
When the real estate bubble pops in Toronto, don’t stand for too long at the bottom of those condos downtown. It will be raining bankrupt, Asian real estate investors from the balconies above.
These buildings are standing liabilities. The little lifespan of the building envelopes is going to make it very difficult for those who invested in them long-term
 

MUGATS

Well-Known Member
Karl.... you’ve been saying the world is ending. So I’m not going to bother worrying about this other stuff.

Small potatoes.
 

Yam Digger

Well-Known Member
These buildings are standing liabilities. The little lifespan of the building envelopes is going to make it very difficult for those who invested in them long-term
One highly respected architect said, in 30 years, those buildings are where your grand children will go to buy crack.
 

Judgeetox

Well-Known Member
One highly respected architect said, in 30 years, those buildings are where your grand children will go to buy crack.
They already are. Did a job at CityPlace years ago. We put the bridge over the tracks and erected the bridge up on the 32nd floor that connects the 2 buildings. One of those buildings was occupied and it was already a slum in process. Dog piss in the elevators every morning. Escorts and pimps in and out. Once there were even memos taped on all the residents doors asking them to stop sweeping their dog shit off the balconies because it’s a health hazard and could hurt someone (hard to imagine that people need that explained to them).

Building was only 6 months old when they had to come back and replace all the balcony railing and glass. Cheap, cheap construction. At times we were quite worried the structure wouldn’t handle the 380 ton bridge sitting on it up there.
 

Karl Marx

Well-Known Member
They already are. Did a job at CityPlace years ago. We put the bridge over the tracks and erected the bridge up on the 32nd floor that connects the 2 buildings. One of those buildings was occupied and it was already a slum in process. Dog piss in the elevators every morning. Escorts and pimps in and out. Once there were even memos taped on all the residents doors asking them to stop sweeping their dog shit off the balconies because it’s a health hazard and could hurt someone (hard to imagine that people need that explained to them).

Building was only 6 months old when they had to come back and replace all the balcony railing and glass. Cheap, cheap construction. At times we were quite worried the structure wouldn’t handle the 380 ton bridge sitting on it up there.
Chinese glass was the culprit and especially the buildings at Bay/College. The Shangri La also had panes falling out of windows. The CityScape residents had to fill up the gaps between window seals and concrete with clothing because the elements would come into their condos. I think the city has since changed the building codes with respect to glass.

My wife use to walk past the Shangri La every morning and after the panes started falling out, she walked down Simcoe on the west side of the sidewalk to avoid walking beside the building. The lawyers are going to be doing very well for decades litigating this poor construction.
 
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Judgeetox

Well-Known Member
Chinese glass was the culprit and especially the buildings at Bay/College. The Shangri La also had panes falling out of windows. The CityScape residents had to fill up the gaps between window seals and concrete with clothing because the elements would come into their condos. I think the city has since changed the building codes with respect to glass.

My wife use to walk past the Shangri La every morning and after the panes started falling out, she walked down Simcoe on the west side of the sidewalk to avoid walking beside the building. The lawyers are going to be doing very well for decades litigating this poor construction.
The building we saw constructed was window wall (curtain wall, installed by professionals, is inspected thoroughly and more often because it’s outside the structure). Window wall in these buildings (including Shangri-la) was installed by general labour. The panels we witnessed at CityPlace, had 4 tek-screws in the mullion to the aluminum clip and 4 tap-cons from the clip to concrete...per panel, that’s it! Gravity and chalking were the last line of defence.
...and no, we didn’t witness any type of seal between the aluminum and concrete. Patches of BlueSkin in random areas.

It’s a shame really. We used to build structures that we could be proud of in Toronto. Now we’re building throw away skyscrapers that aren’t very easy to just remove when they get too expensive to maintain.
 

Karl Marx

Well-Known Member
The building we saw constructed was window wall (curtain wall, installed by professionals, is inspected thoroughly and more often because it’s outside the structure). Window wall in these buildings (including Shangri-la) was installed by general labour. The panels we witnessed at CityPlace, had 4 tek-screws in the mullion to the aluminum clip and 4 tap-cons from the clip to concrete...per panel, that’s it! Gravity and chalking were the last line of defence.
...and no, we didn’t witness any type of seal between the aluminum and concrete. Patches of BlueSkin in random areas.

It’s a shame really. We used to build structures that we could be proud of in Toronto. Now we’re building throw away skyscrapers that aren’t very easy to just remove when they get too expensive to maintain.
Sounds like you know much about being a glazier. The greed illustrated by the contractors and subcontractors will be a legacy for years to come on all these buildings. I really think that people who will be randomly injured and or killed by this shoddy workmanship will need to be fairly and justly treated by the court system. Thanks for the details!
 

Judgeetox

Well-Known Member
Sounds like you know much about being a glazier. The greed illustrated by the contractors and subcontractors will be a legacy for years to come on all these buildings. I really think that people who will be randomly injured and or killed by this shoddy workmanship will need to be fairly and justly treated by the court system. Thanks for the details!
Not really a glazier. Ironworkers install curtainwall on the buildings, but it’s quite expensive and ultimately becomes part of the building structure. Window wall is exactly what the name implies...usually from top slab to bottom slab. It’s a good enough system, but because it’s easy they just get any ratty contractor to do it.
 

Will Ontario

Well-Known Member
Signs are flashing that a major correction is coming.Data is showing housing slowing,data is showing factory orders slowing,wages has not kept up,lots of countries are seeing a higher deficit and in fact US could see a trillion dollar deficit in 2019.In Europe Italy,France and UK could rock the EU with financial crisis because of civil unrest and ballooning debt loads.At least we got the Uber gig to comfort us..........
 
Short, short, short... I'm only long on cannabis, still shorting some oil companies.

How do you learn how to short or long ?
I am really interested on learning the finance market, but not sure where to start.
Where did you learn from?
All info online is courses, which seem not informative at all.
 

Missuber

Active Member
With this Brexit issue British pound would probably touch parity with US dollars. You never know, Would love to buy sterling at that price for longer term hold.

QUOTE="Karl Marx, post: 4558953, member: 57040"]Sterling is a buy?[/QUOTE]
 

Missuber

Active Member
Its easy to short currency on spot forex market rather then stocks. For shorting stocks you probably needs 10k account with TD Ameritrade whereas on spot forex markets you can start trading as low as $100

How do you learn how to short or long ?
I am really interested on learning the finance market, but not sure where to start.
Where did you learn from?
All info online is courses, which seem not informative at all.
 

WillC

Well-Known Member
Its easy to short currency on spot forex market rather then stocks. For shorting stocks you probably needs 10k account with TD Ameritrade whereas on spot forex markets you can start trading as low as $100
Shorting stocks needs a margin account(because you are borrowing stocks to sell) and I don't recall there were minimum when I did some short selling long time ago.
 
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