Canadian economy has been in borderline recession for the last 6 months: strategist

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  • เผยแพร่เมื่อ 31 ธ.ค. 2024

ความคิดเห็น • 155

  • @marihutten
    @marihutten 10 หลายเดือนก่อน +58

    Anybody with any sense of reality and ability to look around knows that this country has been in a recession for like an entire year already. But a few millionaires make some bucks and ?oh wow, we're not doing badly". Want to know the truth, look at people's lives, look at credit card debt, not the bottom lines of corporations. Seriously, people are so self-centered, unless the problem hits their wallet everything is fine and dandy to them.

    • @Pugh.Pugh.BarneyMcGrew
      @Pugh.Pugh.BarneyMcGrew 10 หลายเดือนก่อน +4

      Not enough people studying economics. This is entirely predictable. So a few things. TLDR: If you know anything about economics, we are long past the point of being screwed.
      1. The only things that count in the economy, are essentials (housing, food, fuel etc.), or things you can trade for essentials to another economy. Things people can't live without, this does not include, education and healthcare.
      2. Anything provided by the government paid for by taxes, turns a luxury into a necessity, like education and healthcare. Any service you cannot avoid like banking or legal services, also become a necessity.
      3. The reason why The West was a patriarchy, was because traditionally men, worked these dangerous dirty jobs. Technology meant production boomed and men had a lot of money to spend on luxuries, including women and families, which men instinctively want.
      4. Over the years a smaller and smaller surplus of real essentials have been produced, because the incentive to produce them has gone negative for blue collar workers. More and more luxuries are artificially made essential. Excess has also been eaten into by immigration and population growth.
      5. Now we (collectively) cannot afford all the necessities, real and artificial (ironically particularly the people working to produce real ones), and as the Government wont reduce taxes, and the banks won't reduce fees, or the amount they take from every transaction we do, real necessities are scarce and rising in price.
      The problem that engulfed the US black communities, because they had little involvement in profits of these luxuries turned necessities, has been hitting blue collar white men as well, it just isn't obvious, because there are a lot of straight white men that are rich from the same things.
      There really is no way out of this mess, other than go back to the patriarchy for a while and reduce the quantity of these "False necessities", but I can't see that happening, can you?

    • @marihutten
      @marihutten 10 หลายเดือนก่อน +1

      @ugh.BarneyMcGrew I just see a path towards homesteading and drifting off "the grid" even if partially is the path people should start looking into. I've been studying the great depression because we're basically in one right now and multigenerational households will be a normal thing in this era. I see nothing wrong with that, to be honest, family raising kids (not necessarily the woman on her own, but grandparents involved as well) was common up until quite recently. Leaving the elderly in a retirement home and dropping kids off at daycare at 10 months old are all innatural things. All of the artificial stuff you're pointing out I see it was this mainly.
      The job market with AI will automatically require less people working anyway, so we may as well reconform into a society in which some people focus on upbringing, nurturing and educating and the other sector on producing/servicing.
      Even the concept of the mom staying at home and dad working is a recent concept. You analyse most societies in the world even those in which we consider "poor economies" and it's not that the moms just stay home, it's that the moms also work, but they spend more time at home in comparison. For most of humanity both men and women were working to different capacities and the luxury of just changing diapers all day was something only the rich had access to.
      I don't think that necessarily entails women being stay at home moms necessarily, this could also be uncles and aunts not working and taking care of the kids while the parents work. Basically the concept of some stay home to take care of the property and children while some others go outside to work (or do it remotely).

    • @Pugh.Pugh.BarneyMcGrew
      @Pugh.Pugh.BarneyMcGrew 10 หลายเดือนก่อน

      @tten It would almost be OK, if women would be prepared to have children again, because population replacement is, in any normal world, a necessity and a good investment, but the culmination of Liberal ideology, i hope accidently, is a anti-heterosexual children who are loyal to their parents. This together with the availability of recreational sex, makes having a wife a lot of risk, and cost and not much upside.
      I can't talk - I worked in banking for 35 years, and my father was an accountant, whose parents owned a farm, so I'm part of that drift. I was part of the problem. But for the past 10 years I have been working on home renovation projects making more money (at least 3 times more) than I ever did in banking IT with little tax. I think the easiest way out is for men to start doing the blue collar stuff, self-employed and homesteading like you say, with the women who get it. But will the government let the men get away with it. Stalin didn't, nor did Mao.

    • @sd8c
      @sd8c 10 หลายเดือนก่อน +1

      you are 100% right. we are self centered and dont care for other people, this does not serve us as a whole in any way

    • @Pugh.Pugh.BarneyMcGrew
      @Pugh.Pugh.BarneyMcGrew 10 หลายเดือนก่อน

      @ It it isn't that, it is that we have to care equally but we don't. It is female human nature to care for the weak, and the suffering, but consider a tribe of stone age humans.
      They give all their winter food to the disabled and the women. In the spring all the men are too weak to hunt, and the tribe has no food, because they saved the disabled person. The men die first saying, "Why were we not more self-centered. And why did Charlie go to that other tribe to get a traditional wife, after he sided with the women?"
      3 days later Charlie shows up with food and enslaves the women.
      Now lets assume that the ruling elite, are the other tribe and Charlie.

  • @chriswiens9706
    @chriswiens9706 10 หลายเดือนก่อน +18

    Cutting rates right now is a very bad thing for the economy. What planet are you on!?!? If rates cut for interest/etc, that will entice Canadians to spend more money that they do not have!

    • @chriswiens9706
      @chriswiens9706 10 หลายเดือนก่อน

      Agreed. The rates should of been increased to 10-15% so we can see major changes!!@2FLIPS3.5TWISTS

    • @shsal110
      @shsal110 10 หลายเดือนก่อน +1

      No way rates should be cut, it will be painful but need to get things balanced out again. Cutting too early will undo all of the progress made so far. Govt needs to step in and invest in things that raise productivity (one of the few things worth increasing the deficit for)

    • @chriswiens9706
      @chriswiens9706 10 หลายเดือนก่อน

      I also think they should step in and put a cap on home sale prices dependant on geographical location and also on rentals@@shsal110

    • @dkrawk8309
      @dkrawk8309 9 หลายเดือนก่อน

      Lol

    • @dkrawk8309
      @dkrawk8309 9 หลายเดือนก่อน

      ​@2FLIPS3.5TWISTS5% is nothing? Do yourself a favor, grab pen and paper with calculator

  • @danutalucia
    @danutalucia 7 หลายเดือนก่อน +174

    The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

    • @mayalucia-
      @mayalucia- 7 หลายเดือนก่อน

      Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!

    • @AlvarezDanuta
      @AlvarezDanuta 7 หลายเดือนก่อน

      To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.

    • @mayalucia-
      @mayalucia- 7 หลายเดือนก่อน

      Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

    • @RomeroCarmen-4
      @RomeroCarmen-4 7 หลายเดือนก่อน

      Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

  • @InstigatingInsulator
    @InstigatingInsulator 10 หลายเดือนก่อน +20

    Shouldn’t the banks be doing better after renewing mortgages at a higher interest rate? Or the CEO’s bonuses ate that in the first week of the year?

    • @famicomnintendo
      @famicomnintendo 10 หลายเดือนก่อน +1

      higher rates are usually good for banks for such steep hike in interest rates are slowing down demand for other general demand and other type of loans

    • @steveshideler1333
      @steveshideler1333 10 หลายเดือนก่อน +2

      They make more cash on loans whose rates rise, they don’t make as many new loans though as borrowing decreases and they also have to set aside more of their revenue for the cases when people default on their loans. This hurts the banks bottom line.

    • @dsbarclayeng1
      @dsbarclayeng1 10 หลายเดือนก่อน

      The banks are just playing it safe against potential foreclosures.

    • @dsbarclayeng1
      @dsbarclayeng1 10 หลายเดือนก่อน

      The banks make money on the split; the difference between what they pay out as interest and what they charge.

    • @juliec50154
      @juliec50154 10 หลายเดือนก่อน +1

      Interest rates increase, banks make money. Interest rates drop, banks make money.

  • @Tennis2016
    @Tennis2016 10 หลายเดือนก่อน +20

    economic growth is not flat . It’s ZERO , if not negative …

  • @dsbarclayeng1
    @dsbarclayeng1 10 หลายเดือนก่อน +4

    You can't fix; a housing crisis, a rental crisis, a health care crisis, an inflation crisis - by fiddling with interest rates.

    • @gatorarms9241
      @gatorarms9241 10 หลายเดือนก่อน

      You can but it should have been done years ago, low rates for too long created a huge mess in more ways than one.

    • @Peglegkickboxer
      @Peglegkickboxer 10 หลายเดือนก่อน

      Trudeau's solution to fixing housing is just importing another million immigrants.

  • @paengguin9381
    @paengguin9381 10 หลายเดือนก่อน +8

    Borderline recession??😂Canada has been in recession for almost 2 years and is nearing depression.

  • @user__100
    @user__100 10 หลายเดือนก่อน +16

    Canada uses Newcomers to pay pensions of old Europeans through tax

    • @BDee3126
      @BDee3126 10 หลายเดือนก่อน +2

      These Indian newcomers voluntarily keep coming here and then bring the whole village with them later on.

    • @Pugh.Pugh.BarneyMcGrew
      @Pugh.Pugh.BarneyMcGrew 10 หลายเดือนก่อน +1

      This seems like a case of chutzpah. An immigrant puts themselves in this position of their own free will and then complains about it.
      "Like a man who, having killed his mother and father, throws himself on the mercy of the court because he is an orphan."

    • @shankar4330
      @shankar4330 10 หลายเดือนก่อน +1

      Those who complain of newcomers flooding their land, don't whine. Vote for a party that closes it down. And oh, while you're at it, you need an alternate source of funding for your economy, which you don't have. So shut up

    • @Pugh.Pugh.BarneyMcGrew
      @Pugh.Pugh.BarneyMcGrew 10 หลายเดือนก่อน

      @@shankar4330 Well, my comments about the newcomers whining, applies the same to Canadians whining about newcomers.
      Right now I think both sets of people are a bit worried that they are being ripped off somehow, and so there is friction.
      I have a nasty feeling that we are both being ripped off and there is an illuminati group of the elite screwing us all.
      Perhaps we should unite against the common enemy?

    • @lynb1022
      @lynb1022 10 หลายเดือนก่อน

      @@shankar4330 Canadians would be able to 'fund our own economy' if we weren't forced to spend 70% or more of our income on just housing, a problem exacerbated by mortgage fraud & money laundering, most of which has been 'imported'.

  • @w.s.2102
    @w.s.2102 10 หลายเดือนก่อน +11

    Another 1 million immigrants per year should keep us just above that line

    • @avijitbasu5789
      @avijitbasu5789 10 หลายเดือนก่อน +1

      😂😂😂😂😂😂😂😂😂

    • @APICSKH
      @APICSKH 10 หลายเดือนก่อน

      I was just looking for this comment 😂

    • @simonizer1804
      @simonizer1804 10 หลายเดือนก่อน

      On that million immigrants, you can find a minimum of 5% with chronc disease untreated because its expensive in their own country or because it wasnt diagnosed. It is not only the housing market. It is also the healthcare expenses. If an immingrant comes here and goes to the hospital the 1st year, that one person cost more than he brings to the canadian population. Not good for economy.

    • @shankar4330
      @shankar4330 10 หลายเดือนก่อน

      Good idea when immigrants are greasing your machinery for decades. Be grateful

    • @simonizer1804
      @simonizer1804 10 หลายเดือนก่อน

      @@shankar4330With nonpaper and Illegals for the most part (non tax payers)?

  • @PaulKatrina.
    @PaulKatrina. 9 หลายเดือนก่อน +38

    In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

    • @nicolasbenson009
      @nicolasbenson009 9 หลายเดือนก่อน +1

      Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

    • @CraigLloyd-fz6ns
      @CraigLloyd-fz6ns 9 หลายเดือนก่อน +1

      Please can you leave the info of your investment advisor here? I’m in dire need for one

    • @nicolasbenson009
      @nicolasbenson009 9 หลายเดือนก่อน +1

      Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.

    • @Suleferdinand
      @Suleferdinand 9 หลายเดือนก่อน +1

      I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

  • @vancouverviking4652
    @vancouverviking4652 10 หลายเดือนก่อน +6

    We've been in a depression for 4 years

  • @Aboard_and_Abroad
    @Aboard_and_Abroad 10 หลายเดือนก่อน +4

    oh ok.. spend our way of it, i get it.

  • @wc4109
    @wc4109 10 หลายเดือนก่อน +19

    BOC Governor’s reaction to recession? “What do I care, I don’t have a mortgage.”

    • @Stormshfter
      @Stormshfter 10 หลายเดือนก่อน +11

      He's not responsible for anyones personal financial situation, you are.

    • @lmtada
      @lmtada 10 หลายเดือนก่อน +3

      Previous BOC governor went invested into multi ownership residential real estate. He was even marketing it on BNN.

    • @JC-hl9nu
      @JC-hl9nu 10 หลายเดือนก่อน +1

      A lot of companies are doing layoff. If cost of borrowing to do business is high, more layoffs needed to trim down expenses .Where will government get the money to pay their EI. Ask those still has job to pay more taxes and print more money to pay the EI. More money in the market leads to another round of inflation until dozen of eggs cost 200 dollars

  • @kamenidriss
    @kamenidriss 10 หลายเดือนก่อน +8

    and yet BOC still not talking about rate cuts. Really asking for a house crash then we'll all go back to 2008 economy.

    • @Stormshfter
      @Stormshfter 10 หลายเดือนก่อน

      ​@@RhysFletcher-e8w
      Will just be more people who can't afford to buy.
      Almost none will be looking to buy.
      They will rent, 10 to 20 in each house, this will also cause rental demand to slow.
      You people, your tunnel vision on supply/demand will be your demise.
      Its already becoming what the market will bear.

    • @lmtada
      @lmtada 10 หลายเดือนก่อน +4

      No rate aren’t going down, if anything this is as low as they go. Get used to true normalization 5-8% interest rates. This is normal. 1-3% not normal .

    • @Stormshfter
      @Stormshfter 10 หลายเดือนก่อน +1

      @@RhysFletcher-e8w
      You should do your homework on what immigration really does for demand on housing.
      I live in a mostly East Indian area of Abbotsford and have many neighbors and friends who know the real deal on what it does for demand.
      Almost all immigrants who come in through the normal channels are sponsored by an existing Canadian citizen (there spouse, grandmother, whatever) who already has a place for them to live, they have little to no impact on rentals or purchases.
      The students have a massive footprint as far as rentals go, but almost none purchase a home, some buy condos but that is it.
      Now the students,( which there will be fewer of)are cramming 10 to 20 of themselves into ONE rental.
      Immigration only causes RE prices to go up if a large amount of mostly lifelong Canadians buy properties to specifically house the students, which is as I already stated a smaller number.
      The RE run is over!!
      The tunnel vision around this is astounding.
      AI stocks(some of them) will be the next Microsoft.
      Make your money like all the other generations did.
      Lol

    • @kamenidriss
      @kamenidriss 10 หลายเดือนก่อน

      @@bilko_4732 LMAO. Yeah good luck with even one rate hike with our country is on the border, if not already in recession. Maybe try to get informed first before claiming people have no idea.

  • @TheJoeMoneyShow
    @TheJoeMoneyShow 10 หลายเดือนก่อน +1

    So help us!!! Enough of this garbage make the Canadian market go up!!

  • @Bharatnamo
    @Bharatnamo 10 หลายเดือนก่อน +4

    English speaking obsessed country with Canadian experience ( truck driver,Uber driver, packaging, restaurant) a must for success....😁😬

    • @gurpreetgill6761
      @gurpreetgill6761 10 หลายเดือนก่อน

      Still the per capita income is more than 10 times the country ruled by feku ji .

    • @1wordsnst27sdkai
      @1wordsnst27sdkai 10 หลายเดือนก่อน

      ?

    • @MrEchoco
      @MrEchoco 10 หลายเดือนก่อน

      Maybe learn English and how to put sentences together before you post.

  • @brodieobrien-pickering2202
    @brodieobrien-pickering2202 8 หลายเดือนก่อน

    all these "experts" calling for cuts are consistently wrong

  • @hchalz
    @hchalz 5 หลายเดือนก่อน

    If the Canadian economy is bad, obviously, Trudeau and Freeland are not taxing Canadians enough. With the home equity tax coming next year, the Canadian economy will get a major boost

  • @anthonyfiorilli2309
    @anthonyfiorilli2309 10 หลายเดือนก่อน +4

    Bullshit. Don’t trust anyone in this his business

  • @ChrisMCP2
    @ChrisMCP2 10 หลายเดือนก่อน +1

    Banks do it because loss provisions are a loss for them, yes, it's a write off. On paper. They love it.

  • @Karen-z9t9g
    @Karen-z9t9g 10 หลายเดือนก่อน +1

    Gee, what got us here the last 4 years?

  • @BalwinderKaur-qb6wi
    @BalwinderKaur-qb6wi 9 หลายเดือนก่อน

    So how international students survive here this time is so stressful for us

  • @wondereagle
    @wondereagle 10 หลายเดือนก่อน +1

    High prices, high rates, high debts……recession…..depression?

  • @AnhTuPhucDerrickHoangCanada
    @AnhTuPhucDerrickHoangCanada 8 หลายเดือนก่อน

    people are only following Canadian positions south of the border, even Canadian companies put their innovation in the usa

  • @Talksin403
    @Talksin403 10 หลายเดือนก่อน +1

    Got forclosure papers nailed to my door yesterday. This is the houseing plan ehh? Eject current property holders into the street to make way for newcomers . Gross.

    • @Donniewearstomford
      @Donniewearstomford 10 หลายเดือนก่อน

      Damn hopefully things work out for you I know how it feels

  • @lominiski
    @lominiski 10 หลายเดือนก่อน

    It is not the BoC, it is tFeeland who did not know how to manage finances. Psss....It is the US that should be watched.

  • @KingUnKaged
    @KingUnKaged 10 หลายเดือนก่อน +12

    If you don't own a house,for you, Canada has been in a recession for the last 10 -15 years...

    • @nairnbaker7385
      @nairnbaker7385 10 หลายเดือนก่อน +3

      Debt housing market. Loaned money propping up loaned money. Not good. At the end of the day it's the owner of the home on the hook.

    • @apocalypse369
      @apocalypse369 10 หลายเดือนก่อน +5

      Housing has become a ATM for homeowners. Enjoy your lifetime of debt

    • @APICSKH
      @APICSKH 10 หลายเดือนก่อน

      @@apocalypse369finally found a comment which should have been mine, you beat me on that 😂

    • @CC-jy4gr
      @CC-jy4gr 10 หลายเดือนก่อน

      That isn't how it works lil man

  • @theflowpowa42oshow
    @theflowpowa42oshow 10 หลายเดือนก่อน

    I think they will pump those rates as they ought to.

  • @dipro001
    @dipro001 10 หลายเดือนก่อน +8

    Experts will talk about everything expect making cheap housing.

  • @DoveandRaven
    @DoveandRaven 9 หลายเดือนก่อน

    I think when minimum wage was allowed to drop below the minimum required for a full-time worker to buy their own land we should have all stopped paying taxes and went back to a more civilized society

  • @mikeb5664
    @mikeb5664 10 หลายเดือนก่อน

    Ya, they've been warning of a US recession also...

  • @tommya5957
    @tommya5957 10 หลายเดือนก่อน +2

    No shit, what a news bulletin.

  • @lmtada
    @lmtada 10 หลายเดือนก่อน

    The uncertainty is large. Had light discussion with 50+ single women. She is worried, with mortgage renewal, needs another 20 years to pay off home (70+), no room for retirement. All I can say, avoid divorce as much as possible. You will rarely recover.

    • @Peglegkickboxer
      @Peglegkickboxer 10 หลายเดือนก่อน +2

      No sympathy for the boomer and older Gen x generation. They had 70 years of near constant economic growth with a recession about every 10 years. I entered the labour force in 2011 and have gone through three recessions now, hardly any growth excluding the tech industry which is non existent where I live. They get to have a retirement funded by my tax money of which I will never get to partake in.

    • @Donniewearstomford
      @Donniewearstomford 10 หลายเดือนก่อน

      💯

  • @dkrawk8309
    @dkrawk8309 9 หลายเดือนก่อน

    No way!!!!!!
    Every canadian living on the street, paying 2$ for L per fuel, buying expired groceries, IS PROUD OF IT!!!!!
    We are sticking it to Putin!!!

  • @johannndsouza
    @johannndsouza 10 หลายเดือนก่อน +1

    lol your telling us the obvious? We knew this for the past 6 months....

  • @SKINNY531
    @SKINNY531 10 หลายเดือนก่อน +1

    Sunny ways sunny days....💩

  • @anandkumar61
    @anandkumar61 10 หลายเดือนก่อน

    i like this guy, he spoke the truth

    • @CC-jy4gr
      @CC-jy4gr 10 หลายเดือนก่อน

      Truth Speaker

  • @timmanto1022
    @timmanto1022 10 หลายเดือนก่อน

    If its borderline its a recession.

  • @derek04151
    @derek04151 10 หลายเดือนก่อน +1

    Borderline ?? 🤔

  • @brandon1113
    @brandon1113 10 หลายเดือนก่อน

    imagine being able to afford groceries lol couldnt be canada

  • @ferriswheeler08
    @ferriswheeler08 10 หลายเดือนก่อน

    If he believes the CPI data I ignore everything he said lmfao

  • @Azel247
    @Azel247 10 หลายเดือนก่อน +2

    So the data is only reliable when it fits what you believe?

  • @CC-jy4gr
    @CC-jy4gr 10 หลายเดือนก่อน

    Buckle up tight!!!

  • @24x7MathTutor
    @24x7MathTutor 10 หลายเดือนก่อน

    🙁

  • @jarrettbobbett5230
    @jarrettbobbett5230 10 หลายเดือนก่อน

    for years & years they keep throwing that word around.
    still no recession.
    Canadas world leading immigration programs are bearing real fruit for our economy.

    • @zacatkinson3926
      @zacatkinson3926 10 หลายเดือนก่อน +1

      You are lost

    • @jarrettbobbett5230
      @jarrettbobbett5230 10 หลายเดือนก่อน

      Canada has the Most successful immigration programs in the world.
      Most coming to Canada are either young or wealthy both are good for Candas economy.
      You can look up these facts yourself dont be shy. @@zacatkinson3926

    • @lynb1022
      @lynb1022 10 หลายเดือนก่อน

      Bullshit. Diploma mills and imported mortgage-fraud to perpetually expand an artificially bloated housing market does not equate to "bearing fruit" for anyone.

  • @MangoFlamingo
    @MangoFlamingo 10 หลายเดือนก่อน +1

    News every month since 2021. In 3 months, interest will decrease

  • @nosnibormailliw5122
    @nosnibormailliw5122 10 หลายเดือนก่อน

    Truck the middle class
    🤡🍁🤡

  • @1mikesass
    @1mikesass 10 หลายเดือนก่อน +2

    Fjt