You guys are doing amazing work, I love this show more and more each week and it's become a real part of my Friday routine. I always find something to take away from each show and learn a tremendous amount of interesting things to dive deeper into. I'm a young Canadian guy in my mid 20's and trying to learn more everyday about finance, economics and markets so I can better my future so this means a ton to me. There's a wealth of info on TH-cam on worldwide financial markets, macro economics, etc... but no one from Canada really talking about things from our perspective and putting out digestible content for a noobie like myself so I appreciate the three of you an incredible amount, you're a staple in my rotation of financial content. Thanks for doing what you do!
Here’s a boomer tip: the only way you can go bankrupt is by borrowing too much money. It’s a simple concept, but LOTS of people don’t see it until it’s too late.
@@diasx12 Rediscovered it last month. So many parallels to what we are going through right now. Started using the 4 magic words to get dumb ideas thrown out at work, Complicated. Lengthy. Expensive. Controversial. The magic word "courageous" doesnt seem to have the same effect in the private sector sadly.
Love the podcast, you guys rock. I look forward to downloading the podcast on Friday’s to enjoy listening to and learning from on my morning walks. Well done gentlemen!
Rich nailed it with labour. I've never in my 40+ years seen so many signs for employees needed, signing bonuses, etc. One local manufacturer is actually using TH-cam ads to get workers. Crazy times.
It's great for young skilled people. It's time to make the older, statistically more rich populations, reach into their pockets to pay for trades and technically skilled work. We're a few years away from needing to pay $100-150/hr for an electrician or HVAC guy.
That's driven by artificial demand from the stimulus and low velocity caused by pandemic lock down policy. It crushed supply, but now that velocity is increasing the demand is returning while people spend what they couldn't spend while things were shut down, reaching for their previous standard of living. It's not a reflection of real economic strength, it's a total distortion. When that dammed up savings is depleted the demand will plummet precipitously. So many small businesses were crushed - "help wanted" signs are a symptom of surviving businesses trying to meet the demand that many more businesses used to absorb in the previous economy. It will dry up.
@Brianna Winarski Diversification is not a bad idea it really worked for me, remember that protection of capital is a must expert Mrs Julia Oswin is such a good role model in the world of today.
I was listening to talk by a former BOC banker (William White). Problem is that what people think they have (ie assets like housing, bonds, stocks, etc) isn't worth as much as they think its worth, and issue now is how to allocate the losses. There are too many stakeholders (pension plans, etc) involved, and no one wants to take any losses, as inevitable as these are going to be.
Great show as usual gents. Steve I wish I had followed my intuition on Celsius a couple weeks ago but got busy with other matters. Had funds with them for almost 2 years and made good returns until they slammed the door shut, smallish amount but still stings. Overall I still believe in the future of crypto but winter is here. Unless of course the fed, boc and ecb start to panic and flip flop and then all bets are off and game on. Interesting times to say the least.
Steve a 50% drop brings Toronto/GTA (40% of Canadian population/GDP) back to 2017 prices. It will happen & people have no clue about valuations because of recency biases.
Could you guys touch base on the mechanism of quantitative tightening? My understanding is that the FED will sell existing bonds on its balance sheet to commercial banks, therefore reducing the total lending capabilities of said commercial banks to be lent to private borrowers?
@@luckyPiston That's the part that confused me. By that logic,the debt that the FED holds, when it matures, needs to have its principal either repaid by the borrower or have the debt re-financed and rolled over to another lender. If the borrowers were corporations then I bet a lot of them can't afford to repay the debt, and must refinance. So i suppose this ends up being done by the commercial banks.
@@nikparkhaev9087 Pension funds are big buyers too, the bonds are also (if im not mistaken) sold at a discount rate (making them more attractive) essentially converting the bond from one that isn't paying anything to one that is, this FED shortfall is made up later through other means but in the meantime the FED dumps its liabilities
@@luckyPiston That makes a lot of sense. I guess the end result will be the same, banks/pension funds/whoever will be forced to invest in these bonds that are offloaded by the FED. This results in said institutions having less capital to invest in other bonds/assets, which makes borrowing by the business and household sectors (incremental debt/bond issuances) more difficult since there is now less liquidity available.
@@nikparkhaev9087 Basically what people are referring to when they talk about liquidity in the system/market. Fund managers can only keep a certain %age of cash so they are forced to buy instruments that aren't always as productive as they like and they can only take so much risk. Its a cut throat game at times
Great show as per usual. Nice touch at the end… all of the wealth destruction that is happening is impacting lives and not is a good way for lots of people. Something to keep in mind…
Great episode as usual! I am myself surprised with the massive move on bonds. Assuming that stocks are to take a greater beating than the bonds, I think that it will crash 40%+. So much for the everything bubble. Housing wise, we are the next Portugal, Spain and Ireland...
What about China, India, and half of Europe no longer needing to use the US dollar to cover its energy costs. US dollar wouldn't be coming home due to longer needing it? Would that contribute to the inflation problem? Who is Canada's largest trading partner? It's going to get worse. Buckle down, this is going to be a rough winter. I've been preparing for this for 18 months.
Hey guys another great week! I think rich makes a solid point about labor. I own a machining company and we had a meeting today about how excited we about finally getting reasonable applicants. We are planning on really levelling up our youth on our team to finally give the boomers some weekends off. Really unique labour market. Most of our staff is over 55 and want to work 4 days a week but we have been asking for 5 as we’re too busy.
There is major irony in the Bitcoin crowd getting mowed down by an unregulated “bank” like Celsius. They resist government, and banks, and regulation - but then end up losing ALL their money in the process. It’s a terrible outcome, but the reality is an unregulated banking or monetary system is a complete nightmare - and a very naive concept.
The Bitcoin crowd isn't keeping their Bitcoin with Celsius, It's most likely people that want Bitcoin exposure that don't want to hold their own private keys (older people and people bad with tech). If you're going to hold a large amount, you should be using multi-sig, and collaborating with a company like Unchained Capital.
June 20th on Reuters: "Europe faces 'severe' risk of disorderly financial market correction (Christine Lagarde)." For Christine Lagarde to talk in this unusual way could it be that we have Keith's proverbial first domino falling as we stand a bit further down the domino line in Canada ? Shall we brace for impact Captain ?
Steve, The Quebec Pension Plan didn't get out of the crypto space quick enough .... maybe they should reach out to you for investment advice 😉. Joking aside, completely irresponsible for a pension fund to go that far out on the risk curve. What does that tell you about the state of the province?
Hey Steve.. can you touch on Trigger Rates on the next loonie hour? or maybe in your next video on your channel? I feel like NOBODY with a variable rate mortgage has any idea about these trigger rates in their contracts. If Variable rates touch 4-4.5% then most peoples mortgage payment will jump thousands over night. Thanks
I don't know if the payment will jump thousands but it will have to come up to cover increased interest rate while maintaining minimum payment on the principal, i think that's how it works. The trigger is when you are no longer making the minimum payment on principal.
Wild ride for the worker. Same work, same pay, same productivity, but it bought less and less as time went on. Now we see if Ritch is right and it tilts back to their favour. I am a firm believer that the wealthy never loose because it’s a rigged economy. Playing games stole the productivity of the worker. Now that it’s tilting back into the workers favour through higher wages and better working conditions the economy is correcting. It will be interesting to see if the assets slide back to the workers or if the unproductive keep hold. I agree with Keith. I think all will suffer. But I think once the unproductive assets are wiped out the workers will be able to realize some gains again that have been taken from them. Either way capitalism is doing what it does best, clearing out the unproductive assets. Honesty how many pot shops, politicians and realtors do we need ;).
Great show. Couple things. Inflation has been "managed" since 80s. ie housing inflation? FRB is like the wolf guarding hen house on this stat !! Plus hearing hidden tech will be coming out in 2 area one is med beds which can resolve most medical, bye bye massive hospitals; other is Stanley Meyer's water-fuelled engine- look him up on YT. some good info several vids
Curious what your opinion is on the most optimal time to buy, do you still believe its individual circumstance if it's a not an investment property, Love the show. very interested in hearing different perspective(s)
I heard that the Japanese are big buyers of US treasuries because JGB yields so little. But if the BOJ decides to let the JGB yield rise, Japanese investors will buy more JGB and less US treasuries, which will cause a further rise in US bond yields. Is this assessment correct?
Even though I made some money with kryptos my portfolio certainly took a hit for those that sold that peak as you mentioned and bought real estate unfortunately will lose that value with a declining real estate market and higher interest rate payments in the future
For those of you reading this I have a question. Of all Canada's banks which out of them do you think might actually fall in the event of the kind of depression often alluded to? Which of them would you be most likely to short I guess? Or anything else in real estate you would give preference to shorting?
How about what you know do not apply any more? When all you look at are charts and formulas- you missed some very big pieces. The western economic system in place since the end of WW2 is collapsing at this moment. And it is never coming back. Of course there will be a new cycle of growth in the future- but what it will be based on, what it will look like and when it will return- are complete unknown at this time. At minimum several years.
My part costs are going through the roof. My suppliers still increase prices sometimes twice weekly. Things I paid $3 for 2 years ago are now $12. It’s not even worth negotiating prices anymore because in 4 hours they go up in price anyways. If I knew this was coming I could of just bought a warehouse of stuff and sold it two years later and retired. Why work when inflation is this quick.
Real interest rates have been negative for too long! It's enough already! It has discouraged investment in productive assets, encouraged real estate speculation and helps only the rich.
@@diasx12 BTW...your co-hosts should have laughed when you made that comment about smoking a fatty...it was funny and socially appropriate! Sincerely... you should have got a laugh.
@@bobgio90 Rich is right in that regard. We need productive assets. Extract the raw materials here in Canada. Take the raw materials and process them here in Canada. Take the processed material and turn it into goods here in Canada. Export the product across the world. We need real productivity. Almost everyone can provide some level of productive capacity in our society.
Steve always mentions immigration as a factor that keeps housing prices high. Reality is the adult population in Canada is actually shrinking year over year. Every year there is actually more housing per adult than the year previous. Our immigration numbers essentially get wiped even once you factor in deaths and emigration. We only have positive growth once births are included - and I don’t think babies are buying up all the housing. Home prices seem driven exclusively by speculation, and much like crypto - could easily pop.
@@donm2067 Ensure you are in a strong and liquid enough position to tolerate a worst case scenario and pick up destressed assets/investments from weak hands as the pain is felt throughout the economy.
Are Rich and Keith still sticking to their 10% return on the s&p500 by year end call (that they made a few episodes back) or is that going to be another Twinkie that gets consumed??
@@saretsky no he didn't... transitory isn't 3 to 6 months... anyone thinking this inflation is sustainable needs to educate themselves. Supply chain issues due to war and China manufacturers shutting down doesn't equal sustained inflation. No different than people thinking QE is money printing...these are all headlines. The fed is raising rates due to political pressure and to try to maintain the illusion that they can control the price inflation we are seeing. CPI will print lowered moving forward and then the Fed/Biden can claim victory. This is a huge policy error and they will have no choice but to pivot sooner rather than later.
![🎤 จับฉลากร้องเพลง x P’ #XXSIVK [EP.1] (2/2) เพื่อนจับได้คำไหน..ต้องร้องคำนั้น เริ่ม! 💓🎶 #MXFRUIT](http://i.ytimg.com/vi/1bJvMJXmeS4/mqdefault.jpg)
The margin for error is tight when people and governments are up to their eyeballs in debt. A 75BP hike is like a 500BP hike in the early 80's.
You guys are doing amazing work, I love this show more and more each week and it's become a real part of my Friday routine. I always find something to take away from each show and learn a tremendous amount of interesting things to dive deeper into. I'm a young Canadian guy in my mid 20's and trying to learn more everyday about finance, economics and markets so I can better my future so this means a ton to me. There's a wealth of info on TH-cam on worldwide financial markets, macro economics, etc... but no one from Canada really talking about things from our perspective and putting out digestible content for a noobie like myself so I appreciate the three of you an incredible amount, you're a staple in my rotation of financial content. Thanks for doing what you do!
Love it, thanks for tuning in
Good essay
@@hermanhuynh3873 thank you I know it's the best essay of all essays
Cheers! Thanks for the support!
Agreed!!
What to do when your stuck in Toronto traffic driving to the cottage....listen to the Loonie Hour! Love Fridays. 💖
Good idea :)
@@saretskyalways love the show!
Here’s a boomer tip: the only way you can go bankrupt is by borrowing too much money. It’s a simple concept, but LOTS of people don’t see it until it’s too late.
Great tip for the kids in the back!
Oh, this tip has been around long before boomers walked this earth.
Don’t want to take any advice from the scorched earth generation.
Hit refresh about 20 times waiting for the show to drop. Great show again, gents. Thanks for posting, very informative and engaging!
Appreciate the support !
Best Friday podcast ever!
Did not expect to get Yes, Prime Minister references on the loonie hour, can confirm, great show.
It's an amazing show!
@@diasx12 Rediscovered it last month. So many parallels to what we are going through right now. Started using the 4 magic words to get dumb ideas thrown out at work, Complicated. Lengthy. Expensive. Controversial. The magic word "courageous" doesnt seem to have the same effect in the private sector sadly.
@@geospacedout 🤔 I need to get my hands on this show.. because there’s just not enough push back for shitty ideas at work
Absolutely, Yes Minister and its sequel Yes Prime Minister, the best satirical sitcom about government, politics and bureaucracy ever made.
Steve’s bearish and optimistic view of the Canadian Housing Market is on point.
They aren't joking this time. You thought 3 0.25 hikes. They did that in one day. Shi$ is going to hit the fan.
Rich I love your optimism! There are lots of opportunities ahead (even in a recession) for those who are looking for them.
Coming out of a recession can be extremely profitable the problem is keeping your cash ready to pounce.
Love the podcast, you guys rock. I look forward to downloading the podcast on Friday’s to enjoy listening to and learning from on my morning walks. Well done gentlemen!
31st!! wow a John Taylor - Duran Duran shout out! Love it! Best pop band of the 80's!
Rich nailed it with labour. I've never in my 40+ years seen so many signs for employees needed, signing bonuses, etc. One local manufacturer is actually using TH-cam ads to get workers. Crazy times.
It's great for young skilled people. It's time to make the older, statistically more rich populations, reach into their pockets to pay for trades and technically skilled work.
We're a few years away from needing to pay $100-150/hr for an electrician or HVAC guy.
That's driven by artificial demand from the stimulus and low velocity caused by pandemic lock down policy. It crushed supply, but now that velocity is increasing the demand is returning while people spend what they couldn't spend while things were shut down, reaching for their previous standard of living. It's not a reflection of real economic strength, it's a total distortion. When that dammed up savings is depleted the demand will plummet precipitously. So many small businesses were crushed - "help wanted" signs are a symptom of surviving businesses trying to meet the demand that many more businesses used to absorb in the previous economy. It will dry up.
Great conversation! curious to see what happens when we start hitting that trigger rate after the next hike!. Hold on tight!
*Nice content 💯*
*This season has been really great, I've been making massive profits on my crypto investment, all thanks to Expert Julia Oswin.*
All good investors are conversant with expert Mrs Julia Oswin. she's unique in the field just got to keep to her instructions and you will Excel.
Extraordinary is the right word for expert MrsJulia Oswin, she's experience as a trader and so unique..
Stock trading really pays when you get it right. working with adequate resources and accurate strategies is key
@Brianna Winarski Yup👌 quite easy..
@Brianna Winarski Diversification is not a bad idea it really worked for me, remember that protection of capital is a must expert Mrs Julia Oswin is such a good role model in the world of today.
I was listening to talk by a former BOC banker (William White). Problem is that what people think they have (ie assets like housing, bonds, stocks, etc) isn't worth as much as they think its worth, and issue now is how to allocate the losses. There are too many stakeholders (pension plans, etc) involved, and no one wants to take any losses, as inevitable as these are going to be.
Great show as usual gents. Steve I wish I had followed my intuition on Celsius a couple weeks ago but got busy with other matters. Had funds with them for almost 2 years and made good returns until they slammed the door shut, smallish amount but still stings. Overall I still believe in the future of crypto but winter is here. Unless of course the fed, boc and ecb start to panic and flip flop and then all bets are off and game on. Interesting times to say the least.
Steve a 50% drop brings Toronto/GTA (40% of Canadian population/GDP) back to 2017 prices. It will happen & people have no clue about valuations because of recency biases.
Could you guys touch base on the mechanism of quantitative tightening?
My understanding is that the FED will sell existing bonds on its balance sheet to commercial banks, therefore reducing the total lending capabilities of said commercial banks to be lent to private borrowers?
That and also when bonds term out they don't renew, what think they call "rolling off"
@@luckyPiston That's the part that confused me. By that logic,the debt that the FED holds, when it matures, needs to have its principal either repaid by the borrower or have the debt re-financed and rolled over to another lender. If the borrowers were corporations then I bet a lot of them can't afford to repay the debt, and must refinance. So i suppose this ends up being done by the commercial banks.
@@nikparkhaev9087 Pension funds are big buyers too, the bonds are also (if im not mistaken) sold at a discount rate (making them more attractive) essentially converting the bond from one that isn't paying anything to one that is, this FED shortfall is made up later through other means but in the meantime the FED dumps its liabilities
@@luckyPiston That makes a lot of sense. I guess the end result will be the same, banks/pension funds/whoever will be forced to invest in these bonds that are offloaded by the FED. This results in said institutions having less capital to invest in other bonds/assets, which makes borrowing by the business and household sectors (incremental debt/bond issuances) more difficult since there is now less liquidity available.
@@nikparkhaev9087 Basically what people are referring to when they talk about liquidity in the system/market.
Fund managers can only keep a certain %age of cash so they are forced to buy instruments that aren't always as productive as they like and they can only take so much risk. Its a cut throat game at times
Great show as per usual. Nice touch at the end… all of the wealth destruction that is happening is impacting lives and not is a good way for lots of people. Something to keep in mind…
Great episode as usual! I am myself surprised with the massive move on bonds. Assuming that stocks are to take a greater beating than the bonds, I think that it will crash 40%+. So much for the everything bubble.
Housing wise, we are the next Portugal, Spain and Ireland...
What about China, India, and half of Europe no longer needing to use the US dollar to cover its energy costs. US dollar wouldn't be coming home due to longer needing it? Would that contribute to the inflation problem? Who is Canada's largest trading partner? It's going to get worse. Buckle down, this is going to be a rough winter. I've been preparing for this for 18 months.
Hey guys another great week! I think rich makes a solid point about labor. I own a machining company and we had a meeting today about how excited we about finally getting reasonable applicants. We are planning on really levelling up our youth on our team to finally give the boomers some weekends off. Really unique labour market. Most of our staff is over 55 and want to work 4 days a week but we have been asking for 5 as we’re too busy.
Thanks for sharing!
There is major irony in the Bitcoin crowd getting mowed down by an unregulated “bank” like Celsius. They resist government, and banks, and regulation - but then end up losing ALL their money in the process. It’s a terrible outcome, but the reality is an unregulated banking or monetary system is a complete nightmare - and a very naive concept.
That's why you havevto have your own wallet and 🔑 .
Keith chose his words very carefully but many of us were thinking "Pyramid"
@@Iliinois18 it can still be tracked, traced and confiscated. Don't be a fool
The Bitcoin crowd isn't keeping their Bitcoin with Celsius, It's most likely people that want Bitcoin exposure that don't want to hold their own private keys (older people and people bad with tech). If you're going to hold a large amount, you should be using multi-sig, and collaborating with a company like Unchained Capital.
@@James-vj5hz lol you shouldn't trust anybody
40:30 Just to be clear--the SPX is approaching the 200 WEEK moving average, not the 200 day like Rich said.
You’re absolutely right. Good catch thank you! It’s the 200-week MA!
Was that a flex when Keith showed that Brent "Milkshake Man" Johnson was calling him??
June 20th on Reuters: "Europe faces 'severe' risk of disorderly financial market correction (Christine Lagarde)." For Christine Lagarde to talk in this unusual way could it be that we have Keith's proverbial first domino falling as we stand a bit further down the domino line in Canada ? Shall we brace for impact Captain ?
Not sure if there was some controversy I missed in the last couple weeks? But I'm a pretty "left-wing" guy (economically) and I love the pod!
Steve, The Quebec Pension Plan didn't get out of the crypto space quick enough .... maybe they should reach out to you for investment advice 😉. Joking aside, completely irresponsible for a pension fund to go that far out on the risk curve. What does that tell you about the state of the province?
Keep up the great work guys. At what point does the CB’s pivot?
Also keeping a close watch on the Japanese Yen.
Hey Steve.. can you touch on Trigger Rates on the next loonie hour? or maybe in your next video on your channel? I feel like NOBODY with a variable rate mortgage has any idea about these trigger rates in their contracts. If Variable rates touch 4-4.5% then most peoples mortgage payment will jump thousands over night.
Thanks
Go to 7.24 on this one ... th-cam.com/video/d70Qu6pn_Rk/w-d-xo.html
I don't know if the payment will jump thousands but it will have to come up to cover increased interest rate while maintaining minimum payment on the principal, i think that's how it works. The trigger is when you are no longer making the minimum payment on principal.
Wild ride for the worker. Same work, same pay, same productivity, but it bought less and less as time went on.
Now we see if Ritch is right and it tilts back to their favour.
I am a firm believer that the wealthy never loose because it’s a rigged economy. Playing games stole the productivity of the worker. Now that it’s tilting back into the workers favour through higher wages and better working conditions the economy is correcting. It will be interesting to see if the assets slide back to the workers or if the unproductive keep hold. I agree with Keith. I think all will suffer. But I think once the unproductive assets are wiped out the workers will be able to realize some gains again that have been taken from them.
Either way capitalism is doing what it does best, clearing out the unproductive assets. Honesty how many pot shops, politicians and realtors do we need ;).
wish that were true but I never see layoffs of government workers.
Great show. Couple things. Inflation has been "managed" since 80s. ie housing inflation? FRB is like the wolf guarding hen house on this stat !! Plus hearing hidden tech will be coming out in 2 area one is med beds which can resolve most medical, bye bye massive hospitals; other is Stanley Meyer's water-fuelled engine- look him up on YT. some good info several vids
Correction of 30% in the suburbs of Toronto? I think closer to 60% at the end of this.
Curious what your opinion is on the most optimal time to buy, do you still believe its individual circumstance if it's a not an investment property, Love the show. very interested in hearing different perspective(s)
You guys are the best, love this show! Keep em coming!!
I heard that the Japanese are big buyers of US treasuries because JGB yields so little. But if the BOJ decides to let the JGB yield rise, Japanese investors will buy more JGB and less US treasuries, which will cause a further rise in US bond yields. Is this assessment correct?
If it drops 60% and my business is down 50% I'll take it 😂😂
Steve doesn't like the creative destruction part of capitalism. Better get used to it buddy, all our portfolios are hurting
Even though I made some money with kryptos my portfolio certainly took a hit for those that sold that peak as you mentioned and bought real estate unfortunately will lose that value with a declining real estate market and higher interest rate payments in the future
The highest leverage in crypto was binance. I once seen a 300 percent leverage option. That was a red flag
Neanderthal gold holds steady, hm...
Tiff was NOT impressed with the feds 0.75 rate hike… he plans to hike 1.5 in the next meeting
It is ALL falling!!
For those of you reading this I have a question. Of all Canada's banks which out of them do you think might actually fall in the event of the kind of depression often alluded to? Which of them would you be most likely to short I guess? Or anything else in real estate you would give preference to shorting?
None of them. Far to much government backing on mortgages and to much pension money in them for the government to let them fail.
@@JohnSmith-qj7hd I somewhat suspected something like that. Thank you.
What john said
I'm pretty damn sure the lifespan for chartered banks is almost done. BOC will probably initiate thier own crypto currency in the near future.
How about what you know do not apply any more?
When all you look at are charts and formulas- you missed some very big pieces.
The western economic system in place since the end of WW2 is collapsing at this moment.
And it is never coming back.
Of course there will be a new cycle of growth in the future- but what it will be based on, what it will look like and when it will return- are complete unknown at this time.
At minimum several years.
At what level is Keith going to buy Bitcoin?
Who the hell thinks we needed a 75 PBS hike should seriously get their head checked....Rich
My part costs are going through the roof. My suppliers still increase prices sometimes twice weekly. Things I paid $3 for 2 years ago are now $12. It’s not even worth negotiating prices anymore because in 4 hours they go up in price anyways.
If I knew this was coming I could of just bought a warehouse of stuff and sold it two years later and retired. Why work when inflation is this quick.
Real interest rates have been negative for too long! It's enough already! It has discouraged investment in productive assets, encouraged real estate speculation and helps only the rich.
@@diasx12 the lower and middle class are the only ones that will suffer from these hikes.
@@diasx12 BTW...your co-hosts should have laughed when you made that comment about smoking a fatty...it was funny and socially appropriate! Sincerely... you should have got a laugh.
@@bobgio90 Rich is right in that regard. We need productive assets. Extract the raw materials here in Canada. Take the raw materials and process them here in Canada. Take the processed material and turn it into goods here in Canada. Export the product across the world. We need real productivity. Almost everyone can provide some level of productive capacity in our society.
Wealth Simple layoffs this week, and Shopify layoffs next week 😮.
Steve always mentions immigration as a factor that keeps housing prices high.
Reality is the adult population in Canada is actually shrinking year over year. Every year there is actually more housing per adult than the year previous. Our immigration numbers essentially get wiped even once you factor in deaths and emigration. We only have positive growth once births are included - and I don’t think babies are buying up all the housing.
Home prices seem driven exclusively by speculation, and much like crypto - could easily pop.
For the Algorithm 🎉 sharp as ever
6 more months of this and we will be cutting rates into 2023. These rates won’t last long.
What if they do?
@@donm2067 Ensure you are in a strong and liquid enough position to tolerate a worst case scenario and pick up destressed assets/investments from weak hands as the pain is felt throughout the economy.
so what can we invest in - any suggestions ?
Andy Warhol is dropping truth bombs on this podcast!
Are Rich and Keith still sticking to their 10% return on the s&p500 by year end call (that they made a few episodes back) or is that going to be another Twinkie that gets consumed??
I may have to eat a Twinkie :(
Average is 10% year, but rarely ever is exactly 10%
Steve it looks like an alien plant is about to attack you from your left.😲
Tru
What should be the impact of Fifa World Cup on real estate?
Yep..... gonna get ugly.
Prepare for when sentiments roll over.... which has not happened as yet, again here 'normalcy bias'.
So 300 x
Shit Sandwich 😂
You need to listen to Jeff Snider...no monetarist smarter.
I have. Smart guy, maybe too smart. Got this inflation cycle wrong.
@@saretsky no he didn't... transitory isn't 3 to 6 months... anyone thinking this inflation is sustainable needs to educate themselves. Supply chain issues due to war and China manufacturers shutting down doesn't equal sustained inflation. No different than people thinking QE is money printing...these are all headlines. The fed is raising rates due to political pressure and to try to maintain the illusion that they can control the price inflation we are seeing. CPI will print lowered moving forward and then the Fed/Biden can claim victory. This is a huge policy error and they will have no choice but to pivot sooner rather than later.
And BTW, Jeff was calling for a recession way ahead of anyone.
First!!!
twinkie bet says %100 BOC raises .75 . monkey see, monkey do!
And they always follow what the US does.