Panel discusses Bank of Canada holding rates steady at 5%

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  • Опубліковано 29 жов 2024

КОМЕНТАРІ • 82

  • @stephenr6194
    @stephenr6194 Рік тому +27

    This inflation saga is going to drag longer and harder with the political influences.

  • @zeuszz8722
    @zeuszz8722 Рік тому +30

    bnn THIS IS FANTASTIC MORE OF IT PLEASE

  • @sfbruner
    @sfbruner Рік тому +5

    Awsome back and forth. Love the different perspectives. Keep Jim coming back please I want to hear more of these perspectives.

  • @adrianasher1457
    @adrianasher1457 Рік тому +9

    They
    didnt over tighten, they over loosened , for past 15 years. The ponzi is over.

  • @James-eq8cq
    @James-eq8cq Рік тому +3

    People keep saying we over loosened for the past 15 years. Low interest rates were actually needed between 2008-2013 to get Canada through the recession. What we should have done was increase interest rates when we knew government spending was going to go through the roof after 2015.

  • @davecappy1407
    @davecappy1407 Рік тому +10

    BNN more of this !

  • @maranorth
    @maranorth Рік тому +1

    BoC said in their report that interest rate changes take 12-18 months to take effect. Reason #1 that rates increases should have been halted much earlier. Second, Jim is right: as fixed rate mortgages are due for renewal at 7% and 8% (from 2%) there will be a HUGE downward impact on the economy in 2024 & 2025.

  • @maxpayne7419
    @maxpayne7419 Рік тому +7

    Jim seems hangry. Did he skip his breakfast?

  • @dirtlump
    @dirtlump Рік тому +17

    Jim's assertion of lower BoC rates fails miserably from a macro perspective when one considers the 'net' inflationary damages that would occur to Loonie FX valuations dropping as the BoC lowers rates independently from US Fed rates.
    Canada is an importing country...... just think what effect a 68 cent Loonie would do to Canadians already struggling for Food/Groceries and energy costs(priced globally)

    • @GETLITUP69
      @GETLITUP69 Рік тому

      Our dollar is screwing us.

    • @BA-kp1us
      @BA-kp1us Рік тому +1

      Depends - 68 cent dollar can be huge for the Canadian economy from an exporting and near shoring perspective for the US economy. Ironically our best years as a country in GDP often coincide with our dollar being well below the US dollar. Despite what the current Liberal party tries to tell you, we are an exporting economy and neighbours to the largest economy in the world - that’s a good formula if government gets out of the way (carbon taxes, anti pipeline, anti agriculture, anti blue collar in general)
      The future trend of near shoring means we could be building chips in Canada instead of Taiwan and 68 cent dollar helps us do that…a dollar at or near the US repatriates those same jobs…to the US but a 32 percent margin, heck a 20% margin makes it attractive to open in Canada.

    • @cloutm_anager8262
      @cloutm_anager8262 Рік тому

      Canada is neither an net trade import or export country historically. We go positive when oil prices are higher and net negative when lower oil prices. We go higher Canadian dollar when oil price is higher too. If you don’t understand/talk about oil then you don’t understand the Canadian economy.

    • @BA-kp1us
      @BA-kp1us Рік тому

      @@clo oil is a major contributor to our economy regardless of the price so I agree with you there. But regulation, taxes, market access and government policy all affect the production of oil as much if not more than purely the price.
      It’s also unfair to say oil is the only export. We are a major exporter of natural gas, potash, lumber, agriculture, gold, silver, we have one of the highest stores of lithium in the world but don’t mine it at scale and lots more… just because we don’t fully leverage our resources doesn’t mean they aren’t there to help drive our economy - with the right incentives and economic policy we are easily a net exporter consistently

    • @dirtlump
      @dirtlump Рік тому

      @clo
      WTF are you on about ?
      As long as Oil is priced in USD and the disparity between wti and wcs exists.... any independent BoC lower on rates more than maybe .5 Bps from US Fed Rates would tank the Loonie making Food/Groceries most of which Canada imports from the USA MORE expensive.... and also pushing up FUEL costs (again Oil priced in USD) for Canadians(inflation).
      Yeah... I GET the Canadian economy.... do you "GET" cpi inflation away from Alberta/Sask ?
      The comment is relative to BoC rates "relative" to US Fed Fund rates and the chances therein for deviation by the BoC independent to stave off coming Mortgage defaults ?

  • @cloutm_anager8262
    @cloutm_anager8262 Рік тому +3

    Without a doubt, Jim is right. They are holding interest rates too high because mortgage rates will kill the consumer and oil prices are high. When oil prices are high we don’t need to knee cap ourselves with high rates.

    • @Cutlerypotato
      @Cutlerypotato Рік тому +2

      Not high enough, trudeau's spending and unlimited amortization is neutralizing the rate increases

  • @mauricerichard3611
    @mauricerichard3611 Рік тому +5

    Excellent conversation !

  • @AbsMovs
    @AbsMovs Рік тому +4

    I loved this GREAT JOB BNN

  • @Casey-qm1nd
    @Casey-qm1nd Рік тому +4

    This is what ripping off a bandaid slowly looks like.

  • @TheTruthAlways
    @TheTruthAlways Рік тому +1

    13:34 finally someone spoke the truth ❤

  • @drew_canada
    @drew_canada Рік тому +3

    Remember when they said.. 'It's Transitory'

  • @ac-xc1it
    @ac-xc1it Рік тому +1

    It doesn’t matter, the key question is how long the high rate period is. Actually the longer they pause, the longer the high rate period.

  • @vish_010
    @vish_010 Рік тому +1

    Jim Thorne spot on at the end✌🏼
    Financial Discipline is dead at Ottawa
    Ordinary people are suffering

  • @BrothaJeff
    @BrothaJeff Рік тому +2

    If our governments keep printing and spending it will keep going…

  • @brettlongfield3291
    @brettlongfield3291 Рік тому +8

    Huge mistake; should have increased.

  • @luk2k3
    @luk2k3 Рік тому +2

    love to see people fighting each other

  • @gimusk5667
    @gimusk5667 Рік тому

    I love Jim Thorne, he's like Canada's Cramer!

  • @aldenhagel5082
    @aldenhagel5082 Рік тому +9

    I love Jim

  • @yansun6051
    @yansun6051 Рік тому +1

    Jim is right. But why the hostess always cut him off? Why? Not a good hostess at all!

  • @bigsid3011
    @bigsid3011 Рік тому

    Tiff the stiff needs to publicly suffer the humiliation he has exposed Canadians to from his disgusting misguidance that rates would stay low for years. Had he even a modicum of integrity, Tiff would resign and hide forever.

  • @shaunsmith3625
    @shaunsmith3625 Рік тому +18

    Jim Thorne is great….the mainstream probably hate him.

    • @BigCheese150
      @BigCheese150 Рік тому +15

      He is just freaking out because the five properties he owns are going to get wrecked, such as the US did in 08. It will be beautiful.

    • @Cutlerypotato
      @Cutlerypotato Рік тому

      Sounds like a whiney boomer who is losing clients

    • @jimmason8502
      @jimmason8502 Рік тому +4

      I wish she would stop cutting him off. He’s is right on the money. When has the Fed or the BoC ever gotten anything right? Never. Wage growth will not be inflationary as mortgage rates and fuel and food prices stay high. Maybe some wage growth will help folks pay off their debt which has also increased in the past few years.

    • @Casey-qm1nd
      @Casey-qm1nd Рік тому

      ​​​​​@@jimmason8502like it or not, increased labour costs do have an effect on input costs. There is just simply too much debt sloshing around.

    • @joe97nsx
      @joe97nsx Рік тому

      Because he's calling out the government on their irresponsible spending. What do you expect from a moron who thinks budgets balance themselves? The damage this government has done by ignoring all fiscal prudence will last a generation.

  • @qifridek
    @qifridek Рік тому +1

    Government spending is not helping - Tiff
    Trudeau didn't got the message 😂

  • @olivier6456
    @olivier6456 Рік тому +1

    I like Jim Throme but he needs to be less combative in his response

  • @bailey-k6b
    @bailey-k6b Рік тому

    "My job is not to be intellectually correct..." 😂

  • @citizenm9590
    @citizenm9590 Рік тому

    I like Earl please have him coming back

  • @ragurajaguru
    @ragurajaguru Рік тому

    BOC and federal reserve is trapped... the underlying economy is terrible... it will get worse by 1st quarter next year... I dont think the BOC will raise anymore, they are witnessing a breakdown in many sectors. They do not want to excite the market either... their tone will change 1st quarter/2nd quarter next year

  • @ac-xc1it
    @ac-xc1it Рік тому +2

    Jim is obviously a real estate speculator

  • @Sigmacadabra
    @Sigmacadabra Рік тому +1

    Last call for the Bitcoin train

  • @kevs2481
    @kevs2481 Рік тому +2

    "It's not rhetoric, these are statements"
    Lol

  • @Asim2846
    @Asim2846 Рік тому

    I like this dude ! Hawk

  • @imranghaffar3245
    @imranghaffar3245 Рік тому

    Jim Thorne is unnecessarily trying to snub Earl Davis. The discussion should squarly and professionally be on topic without getting personal.

  • @Stormshfter
    @Stormshfter Рік тому +1

    If housing related costs represent 70% of inflation.
    That means the only way rates will go down is if the price of housing goes down.
    The only 2 things that can lower it are number 1 lower rates, which were not getting till inflation is lower, and guess what folks Real Estate value.
    This doesnt end without a major correction in real estate value.
    Which is what most people think is needed anyway.

  • @TheNewSchoolGamer
    @TheNewSchoolGamer Рік тому

    Take out mortgage interest and factor in the facts that to carbon tax is inflationary, were in a bad situation

  • @rickvervoort9536
    @rickvervoort9536 Рік тому +8

    Starving Canadians who can't afford housing feel so much better now. Thank you Liberals and the B.O.C.

    • @donm2067
      @donm2067 Рік тому +3

      They can thank themselves for not being financially responsible

    • @Casey-qm1nd
      @Casey-qm1nd Рік тому +1

      Just wait until people get what they ask for, rate cuts... Then when inflation comes back again everyone will be whining for higher rates and a recession as they will soon see that high inflation over an extended period is even more damaging than having a deep recession now. Many people see the world through a pinhole.

    • @rickvervoort9536
      @rickvervoort9536 Рік тому +5

      @@donm2067 Maybe we could send a couple more billion over to the Ukraine money laundering operation, so that all Canadians have equal opportunity to enjoy the tent cities and food banks.

    • @TheNewSchoolGamer
      @TheNewSchoolGamer Рік тому

      @@donm2067
      Let's be honest, having your shelter, food and energy costs increase 50%-100% YoY isn't something most Canadians can easily stomach. If wages are up 5% but utilities are up 150% I'm not sure how much that compensation bump helps, especially since CPP contributions will be increasing

  • @BentSmore
    @BentSmore Рік тому

    guy is screaming the warning signs from the roof tops and no one is listening

  • @FEDD
    @FEDD Рік тому +14

    It would be great if they stop bringing the whiney old guy in glasses as a guest.

    • @mathewchan9577
      @mathewchan9577 Рік тому +5

      he had some good points today, but he's just so damn argumentative and unwilling to see other perspectives

    • @MStar10
      @MStar10 Рік тому +5

      They need more of him! Perspectives with passion and research.

  • @proshare99
    @proshare99 Рік тому

    Argentina wannabe? When the currency become worthless

  • @Womba1009
    @Womba1009 Рік тому

    inflation risks increase. Yet the government said they had inflation beat.

    • @michael2275
      @michael2275 Рік тому

      Current gov't is a clown show.

  • @citizenm9590
    @citizenm9590 Рік тому

    Jum is annoying Earl keep calm your wise like your take

  • @sithumsamaraweera360
    @sithumsamaraweera360 Рік тому +1

    Rent inflation is due to high rates effecting mortgages. People can't buy a house, no one qualifies. Renting is the only alternative. I mean lets be honest, no everyone has nice parents who allow you to freeload in their basement.

    • @Youarenot_Special
      @Youarenot_Special Рік тому

      No its high rares on over inflated mortgages that no one can afford. 😅

    • @TheNewSchoolGamer
      @TheNewSchoolGamer Рік тому

      As a younger millennial, I can say trying to qualify now is rough; I had to put down almost $250k one of my properties last year. Anecdotally, I only know one homeowner my age who didn't get cash from the bank of mom and dad for their down payments