Our friends played off from the tech sector and middle managment cannot find work at all. One is training as a bus driver, the other an elementary teacher. In your 40s/50s, it's very difficult to find a job that can support a family here in Vancouver. I think many people who are layed off may have to move.
I know a charter bus driver who is being pushed out of a job by people hired to acquire a permanent residence status. They only want the status, so they are willing to work for less or even worse.
I used to work at safeway with a lady who purposely only worked a few hours a month so that she would still qualify for full government assistance… she could have worked full time easy, but it wasn’t worth it for her, she’d rather stay on the free handouts
This is what I don't get. Ben and a lot of economists in Canada actually believe the federal government when they say 2 million TFWs are just gonna leave. They won't.
Canada is like an old car driven by a mechanically clueless driver when ominous noises start coming from under the hood. After a visit to the mechanic he's told that serious problems can be avoided, but immediate actions are mandatory. So he decides to ignore the mechanic, and turns up the radio and hangs a new air freshener. I think a huge hole is going to be punched in Canada's engine block, and that is the destruction of small business, and large scale movement of investment to the US. And if trudeau tries to lay another FINGER on Alberta, things will get ugly for him fast!
Hang on here with Alberta climate change is real and its main contributor is our main export. So I applaud him for trying something. It’s a bad situation overall. The goodnews if you have no kids is all this is probably past the point of no return and will end within our lifetimes.
Re the CIBC/Tal report. “Average” mortgage renewal rates don’t matter. If 30% can’t afford their mortgage it’s irrelevant if another 40% can. You don’t subtract one percentage from the other to arrive at “on balance only X percent will see an increase in their payments”. It’s not like the decreased payments for the 40% (or whatever#) are going to repair the damage caused by the defaults of the other cohort. The math don’t work like that. Consumption by those who benefit will not make up for the retrenchment caused by those who lose their houses or at best stop consuming.
No one sane will loose their house, only stupid people who bought at insane prices in 2021 or early 2022 will either by foreclosed or be in the brink of bankruptcy, note that some of these folks have already felt due to rate increases from spring 2022. The rest will be fine, the BOC and banks will make sure of it either by lowered rates OR by long amortization periods. In the end the consumer still looses due to interest but the banks continue to make money.
100% agree with Keith that financial updates should be quarterly and run like a public company. If a CFO or accounting team was months late with abhorrent news, investors would clean their clocks. There’s no reason a country’s administration should be treated any differently.
You guys should get Tom Luongo on one of your next Loonie Hour episodes, he brings a geo-political angle to complement/explain much of the fiscal/monetary discussion you guys talk about - especially regarding Europe and their upcoming implosion, and I think it would be really cool if you can get him to discuss Canada's situation and what Canadians can do to prepare. He is on the Shaun Newman podcast often times if you want to take a listen.
My girlfriend was looking for a job in HR or admin in early 2023. There were jobs on the govt website that the LMIAs post on, and jobs on indeed. She applied for all of them. She received 18 responses from indeed, ZERO from the govt website. They run the add and ignore the applicants. She got a job as she is highly qualified, but she did realize that the govt website was a waste of time.(scam).
Maybe everyone knows government jobs are in high demand you have to apply to a ton of them over years. Took me 2 years in 2006-2007. Now I am part of that process and while we may have cutoffs to deal with 1000s that apply they don’t get just ignored. It’s just volume vs number of jobs.
Maybe everyone knows government jobs are in high demand you have to apply to a ton of them over years. Took me 2 years in 2006-2007. Now I am part of that process and while we may have cutoffs to deal with 1000s that apply they don’t get just ignored. It’s just volume vs number of jobs.
@@zahadoom4488what do you mean. While preference is given to Canadian citizens and permanent residents, there no demographic indicator. Oh you mean employment equity, ONLY if there is a significant gap. It still has to be justified.
@@A-star445at the bank I ran into a homeowner who was trying to sell for retirement. He said he listed at 900k, which even he agrees is nuts. But he’s got not much for retirement and the cost of even downsizing, food, cars has shot up. So he went back to work. Retirement cancelled
@@latulip100if he sells for 900k that's a pretty good nest egg. Could do the canadian thing and go to a smaller town and buy houses that young families would otherwise buy, then rent it back to them, or split it into multiple units and rent to newcomers
I feel the BOC will keep cutting by 50 all the way down to 3.25% and same time money injections in key areas. I don't know how but, they can't keep cutting and let everything fall.
Maybe I’m reading the situation a bit skewed but I think there is still a big need for rentals. A lot of people are living with roommates to say money in their 30’s etc. Alto of gen z can’t even afford to rent yet and are still living at home. A lot of people are living in a much smaller rental like a studio because they can’t afford a 1 bedroom or a couple who wants to have kids but the cost of a 2 bedroom plus the cost of a child is prohibitive. There’s a need for more rentals.
@@TimBer-y3y BoC official website where they release the rates had 25bps then later issued a correction to 50bps after all electronic trading had read 25bps
Shocked you guys brought up the mortgages renewing …. You think that’s a problem still? lol. Steve I stole your saying “extend and pretend”. I have zero fear in anything being a problem there. People will extend or interest only and hang on until rates get a better better or what ever game they play to keep the house. I’m 0% thinking about this lol.
so rate cuts bring mortgage payments down but everything else went up in the last few years, also employment situation changed in some households. gain some lose some.
@@fofal That is incorrect rates came down not because of a rate drop but because the BOC has stopped rolling over govt debt (pushing away buyers of their bonds) and that better positioned the banks to sell bonds , also lower BOC rates helps the overnight rate and keeps liquidity in a liquidity short market
I agree with Rich's conclusions 1:02:45 on re: the dangers of the tax cut by US. It is rather disconcerting to say the least, watching the investment differential between the two economies widening at this pace. I think productivity in Canada has been a problem for a very long time and the mechanisms to actually stimulate it are not even part of our ecosystem here. Too many years of easy money from natural resource sales, the Finance industry supporting it and real estate. A big monopoly game board. Government controlled Utilities. A couple Railroads and Telecoms. Each industry not directly run by government or crown corporations seem dominated by the oligarchs and establishment from old. Tough game to play here. Lots of significant people exiting now.🙁 On a brighter note...LOL
38:55 Rents have gone up by 40% while wages have gone up by 0%. Rents _do_ need to come down by 40%. There's nothing "absurd" about that figure at all. The median wage in BC, according to Google is $30/hr or about $4800/mo. The median rent is 50% of that at $2400. That's unacceptable. That median wage figure seems a bit high to me, BTW. It probably doesn't include gig work.
@@RCheck185 Rent should be about 30% of income. And BTW, many landlords require tenants to have income that is 3X rent, so obviously even they don't think that figure is unreasonable. The problem is that 100% of landlords want to target the top 10% of income earners. Landlords need to charge rent that is a reasonable portion of the median income. If they can't make that work, they need to sell their properties. That will bring down sale prices. They, or someone else, can buy in again when prices are down to earth.
I understand what you’re thinking but there are a lot of variables other than just cost. If you’re hoping for everything to just all of a sudden be cheaper and all home owners to just take a big hit , well I’m not in that camp. Further, I’m not sure what market your focused on but there is always lower income options for rentals. Will they be in your ideal neighbourhood or what you want long term, probably not. Time will tell where the market goes.
@@RCheck185If a home owner bought more than 5-10 years ago, they're not really taking much of a hit. If they bought more recently, they bought into the bubble and they're part of the problem. They'll get no sympathy from me. I got burned in the stock market in the 2008 crash and nobody cared or came to my rescue. I don't think it will happen, though. Too many politicians and powerful, wealthy people in general have their wealth in real estate. I'm just saying a huge price drop in both home prices and rents will be necessary for long term economic and social well being, and that's not going to happen. I fear for the future. As far as lower income options for rentals, in Vancouver that means living in a tent or moving to where there's no jobs. When wealthy Vancouverites run out of immigrants (some living six to a bedroom) to drive Uber and serve coffee, they may have to re-visit this issue.
Labour fraud is happening for years. It's not 25k it's 50 to 70k (LMIA). and I know alot of people doing this fraud in GTA. It's been happening for years.
Stuff I hear from new Canadians in the GTA is wild to me. I feel like a lot of them are setting themselves up for failure and don’t realize. 1 person is co-signing on a lot of stuff because they have a good job and I don’t think they realize their credit is going to be sunk eventually.
I should start by saying I have been in housing in the GTA for almost 40 years. To Ben's point around 39:00, when I hear CMHC I plug my ears and start humming. Further though, to Rich's point around 37:30, we are so short of housing it will take years of building with low immigration to get back to neutral around the GTA. For investors, they may have houses they rented 8 years ago for around $1800, and now rent easily for around $3500, they may fall back further to the mid $2000's or above, but still be way above what many would have expected a decade ago. Hopefully we will also get to a place where we don't have approx 15 people stuffed into a basement apartment. To Ben's point about the renewals in 2025 and 2026, although not everyone did the mortgage stress test, everyone I know definitely did, so the new rates will be at least 1-2% below the rate of the stress test. As for Christmas movies, nothing tops Christmas Vacation for me.
Another stupid thing I find is how tfsa allow you to invest worldwide. Okay obviously I love that, but if I ran Canada, I’d only let you pay no tax on investment through tfsa iffffff its Canadian companies or etfs. Isn’t that also common sense? I would try to incentivize keeping the money within Canada to build Canada . Idk what am I missing here can’t be that simple 😅
allowing investment outside means foreign capital is being earned elsewhere and could be brought back to this country which helps liquidity in the system (Assuming they bank or spend the money here) , its another way of money coming back and not relying solely on money from exports or tourism.
Good work again dudes. Here we are the richest country in the world if we only would face north instead of south of the boarder. Lumber, minerals(solid and fluid)powerful rivers, massive lakes and on and on. Rather then put to good use what we have in abundance, our misguided politicos are stuck in and ugly pattern, 53:27 and like my Cessna’s left-turning- tendencies, fail to stomp in some right rudder to prevent a slow and low and fatal stall.
its going to be hard but regarding the renewal wave those people all should have been stress tested at levels that are higher than a variable mortgage is at today. Hopefully once Trudeaus horrible policies are gone we can get back to growing out of the mess he created. Unfortunately it may be tough because Trump is going to be a lot more pro business than we can afford to be given Trudeaus mess that needs to be cleaned up
Can someone explain to me how cutting rates is bullish? I get it , easier money makes it easier for businesses and people to spend spend spend I got it, but lowering rates means the economy is struggling. Isn’t this a bear sign bro? lol. The markets always doing opposite it seems. Can never understand it short term pure clown in the short term like even look at Tesla stock 116 P/E ratio and it doesn’t stop. Like what? lol. What am I missing. Doesn’t a recession almost always follow rate cuts ? Are they going to really save this economy from a recession? Look at the u employment rate aren’t we in a recession? Do they just not admit it cause admitting it will crash the markets? I been holding cash but I feel stupid cause it keeps going up. I honestly don’t understand short term investing that’s for sure that’s why the top guys preach hold companies long and never mind the day to day. You can’t make sense of it. And now the tarrif talks with USA . Isn’t that bear as well? Isn’t that risky??? We know trump is a deal maker so he most likely started high at 25% but can we expect 5-10% tariffs? Isn’t that going to kill us again even more ? Lots of risk right now in the markets and they’re selling at crazy P/E ratios. Ultimate greed. But yea that could go on forever who knows right. Can’t time it. But just analyzing everting, it’s a bad time to invest in stock market unless you find like random deals but like buying s&p right now esp with cad dollar so low and everything else going on, I don’t get it.
When a govt has to tax people (the middle class) to death because the payments on the defect is close to or equal to gdp you know you are in a world of hurt
Rabidoux sounded alarmingly non-negative. Is he trying to placate to his clients? Seems personal self interest skewed his position much like all advisor talking heads
I would have continued watching but 6 minutes in and were talking about twinkies and what people did on the weekend. So no thanks and I hit don't recommend channel
There's some lore to the channel. They do a special bet for every BOC rate announcement. Hope you come back Plus they're all nerds who have no friends, so they have to chat with each other or they'll go insane
I always skip the beginning part but you sound miserable lol. Your comment to me shows you’re not a happy person in real life. Why spread a negative energy these dudes are good dudes don’t be rude
@arctichero1 you're obviously part of the problem. Go to china, Japan, Russia or china. None of them haved doctor shortages, it's bullshit. They have enough schools to pump people out. Canadian doctors control the numbers to keep their pay.
Starts @ 5:40
Holy fuck that is one long banter at the start
@@davidrockefeller2007 my favourite part is all the banter :)
Thanks! 😊
Tiffy doesn't expect recession in 2025 because we're already in one.
He expects a depression 🤪
Touche hahah
So funny yet true. Whenever they say that "it won't hurt' it's going to hurt
Funny how the GST holiday lands on the same week as the fall budget.
The numbers will balance themselves. Don't worry about it.
This was hard to listen to. The LMIA stuff. I know it all but it’s just sooooo depressing
Our friends played off from the tech sector and middle managment cannot find work at all. One is training as a bus driver, the other an elementary teacher. In your 40s/50s, it's very difficult to find a job that can support a family here in Vancouver. I think many people who are layed off may have to move.
I'm still surprised more people haven't moved, but it's not happening. Still way more coming in.
@@rometimed1382 All the jobs are in the big city. A lot of people probably would like to move.
I know a charter bus driver who is being pushed out of a job by people hired to acquire a permanent residence status. They only want the status, so they are willing to work for less or even worse.
I used to work at safeway with a lady who purposely only worked a few hours a month so that she would still qualify for full government assistance… she could have worked full time easy, but it wasn’t worth it for her, she’d rather stay on the free handouts
This is what I don't get. Ben and a lot of economists in Canada actually believe the federal government when they say 2 million TFWs are just gonna leave. They won't.
Canada is like an old car driven by a mechanically clueless driver when ominous noises start coming from under the hood. After a visit to the mechanic he's told that serious problems can be avoided, but immediate actions are mandatory.
So he decides to ignore the mechanic, and turns up the radio and hangs a new air freshener.
I think a huge hole is going to be punched in Canada's engine block, and that is the destruction of small business, and large scale movement of investment to the US. And if trudeau tries to lay another FINGER on Alberta, things will get ugly for him fast!
Hang on here with Alberta climate change is real and its main contributor is our main export. So I applaud him for trying something. It’s a bad situation overall. The goodnews if you have no kids is all this is probably past the point of no return and will end within our lifetimes.
@@latulip100 No its not
Klaus is the best Christmas movie these days 🍿
I am just glad that our income is in USD
my friend has a USD paying job... so jealous.
People who can should try to create their wealth in USD being all in CAD fiat will keep you in the poor house going forward
they are still taxed Canada rates so they lose
Best guest
Appreciate the podcast guys. Could you consider doing some deep dives (ex: how mechanics of financial repression would look like in canada)?
Good show, Ben is a great guest. Very interesting. I’m agreeing mostly with Rich !!
Re the CIBC/Tal report. “Average” mortgage renewal rates don’t matter. If 30% can’t afford their mortgage it’s irrelevant if another 40% can. You don’t subtract one percentage from the other to arrive at “on balance only X percent will see an increase in their payments”. It’s not like the decreased payments for the 40% (or whatever#) are going to repair the damage caused by the defaults of the other cohort. The math don’t work like that. Consumption by those who benefit will not make up for the retrenchment caused by those who lose their houses or at best stop consuming.
No one sane will loose their house, only stupid people who bought at insane prices in 2021 or early 2022 will either by foreclosed or be in the brink of bankruptcy, note that some of these folks have already felt due to rate increases from spring 2022. The rest will be fine, the BOC and banks will make sure of it either by lowered rates OR by long amortization periods. In the end the consumer still looses due to interest but the banks continue to make money.
Great episode! Keep it up guys. Big fan. Happy holidays 🎉
100% agree with Keith that financial updates should be quarterly and run like a public company.
If a CFO or accounting team was months late with abhorrent news, investors would clean their clocks.
There’s no reason a country’s administration should be treated any differently.
The shareholders of a country are the taxpayers. Unfortunately the government has no respect for taxpayers
@ fair point.
Great episode!
Just FYI before 2017 people used to get 400 points for LMIA, meaning almost no need to pass English exam, no proof of education or work experience
There is only one christmas movie: Trading Places.
The new leader of Syria is calling for people to return home. So...... onward people
Full blown swagsession
is that an increase or decrease in swag?
You guys should get Tom Luongo on one of your next Loonie Hour episodes, he brings a geo-political angle to complement/explain much of the fiscal/monetary discussion you guys talk about - especially regarding Europe and their upcoming implosion, and I think it would be really cool if you can get him to discuss Canada's situation and what Canadians can do to prepare. He is on the Shaun Newman podcast often times if you want to take a listen.
I and other people have lost their careers going back 2 years. It's definitely a recession for some of us.!!
Ditto but I saved a lot, got an inheritance and expanded investments so we are surviving ok. Not crazy but we can get through a few years of bills.
I’m sorry how are you coping? I’m looking at the possibility now and EI won’t ever cover my mortgage.
The Night Before??? Keith, you legend 🤣
The best xmas movie. Shocked you guys haven't seen it
My girlfriend was looking for a job in HR or admin in early 2023. There were jobs on the govt website that the LMIAs post on, and jobs on indeed.
She applied for all of them.
She received 18 responses from indeed, ZERO from the govt website.
They run the add and ignore the applicants.
She got a job as she is highly qualified, but she did realize that the govt website was a waste of time.(scam).
Is she of the correct demographic that they are hiring?
Maybe everyone knows government jobs are in high demand you have to apply to a ton of them over years. Took me 2 years in 2006-2007. Now I am part of that process and while we may have cutoffs to deal with 1000s that apply they don’t get just ignored. It’s just volume vs number of jobs.
Maybe everyone knows government jobs are in high demand you have to apply to a ton of them over years. Took me 2 years in 2006-2007. Now I am part of that process and while we may have cutoffs to deal with 1000s that apply they don’t get just ignored. It’s just volume vs number of jobs.
@@zahadoom4488what do you mean. While preference is given to Canadian citizens and permanent residents, there no demographic indicator. Oh you mean employment equity, ONLY if there is a significant gap. It still has to be justified.
@@latulip100 I guess you haven't seen the articles about the government not hiring white people anymore.
Would macro view of Canada be that everyone is talking about a decline in everything. Standard of living. GDP. Housing. Way of life
Not everyone. Landlords and most homeowners who bought before covid are doing very well
@@A-star445at the bank I ran into a homeowner who was trying to sell for retirement. He said he listed at 900k, which even he agrees is nuts. But he’s got not much for retirement and the cost of even downsizing, food, cars has shot up. So he went back to work. Retirement cancelled
@@latulip100if he sells for 900k that's a pretty good nest egg. Could do the canadian thing and go to a smaller town and buy houses that young families would otherwise buy, then rent it back to them, or split it into multiple units and rent to newcomers
@ this is a small town and no one bought it. He’s have to go really rural and be far from the hospital.
I feel the BOC will keep cutting by 50 all the way down to 3.25% and same time money injections in key areas. I don't know how but, they can't keep cutting and let everything fall.
Thanks for the time stamps
Maybe I’m reading the situation a bit skewed but I think there is still a big need for rentals. A lot of people are living with roommates to say money in their 30’s etc. Alto of gen z can’t even afford to rent yet and are still living at home. A lot of people are living in a much smaller rental like a studio because they can’t afford a 1 bedroom or a couple who wants to have kids but the cost of a 2 bedroom plus the cost of a child is prohibitive.
There’s a need for more rentals.
I absolutely agree, but I appreciate these guys basically admitting that builders will never build enough supply to bring rents down to affordability.
Nobody in the private sector is getting meanigful raises.
Every public sector applicant I have....big raises.
Get ready.
Yearly increments yes, wage growth built in by unions.
We are 3rd on the commie scale! Yay😂
Negative real interest rates continued to drive investment into real-estate rather than into business growth and productivity.
Nobody mentions the BoC putting 25bps on their website ?
What happened?
@@TimBer-y3y BoC official website where they release the rates had 25bps then later issued a correction to 50bps after all electronic trading had read 25bps
I noticed that nobody on the panel sees us accelerating rate drops here. I think its an oversight.
At this rate soon you will have to rename your show “Toonie Hour”
Depressing!
Shocked you guys brought up the mortgages renewing …. You think that’s a problem still? lol. Steve I stole your saying “extend and pretend”. I have zero fear in anything being a problem there. People will extend or interest only and hang on until rates get a better better or what ever game they play to keep the house. I’m 0% thinking about this lol.
so rate cuts bring mortgage payments down but everything else went up in the last few years, also employment situation changed in some households. gain some lose some.
@@fofal That is incorrect rates came down not because of a rate drop but because the BOC has stopped rolling over govt debt (pushing away buyers of their bonds) and that better positioned the banks to sell bonds , also lower BOC rates helps the overnight rate and keeps liquidity in a liquidity short market
Where's your box of Twinkies Rich?😂
Rich also seems more confrontational with Ben
I agree with Rich's conclusions 1:02:45 on re: the dangers of the tax cut by US. It is rather disconcerting to say the least, watching the investment differential between the two economies widening at this pace. I think productivity in Canada has been a problem for a very long time and the mechanisms to actually stimulate it are not even part of our ecosystem here. Too many years of easy money from natural resource sales, the Finance industry supporting it and real estate. A big monopoly game board. Government controlled Utilities. A couple Railroads and Telecoms. Each industry not directly run by government or crown corporations seem dominated by the oligarchs and establishment from old. Tough game to play here. Lots of significant people exiting now.🙁 On a brighter note...LOL
Tough for new entrants when the cost of living and housing is so high that taking a financial risk or even saving money is nearly impossible.
wow 60bn - I bet it's a lot higher.
our Loony Toony is about to shit itself.
38:55 Rents have gone up by 40% while wages have gone up by 0%. Rents _do_ need to come down by 40%. There's nothing "absurd" about that figure at all.
The median wage in BC, according to Google is $30/hr or about $4800/mo. The median rent is 50% of that at $2400. That's unacceptable. That median wage figure seems a bit high to me, BTW. It probably doesn't include gig work.
When investors mortgage carrying costs for those rentals properties is easily over 2k what do think they should charge for rent then?
@@RCheck185 Rent should be about 30% of income. And BTW, many landlords require tenants to have income that is 3X rent, so obviously even they don't think that figure is unreasonable.
The problem is that 100% of landlords want to target the top 10% of income earners.
Landlords need to charge rent that is a reasonable portion of the median income. If they can't make that work, they need to sell their properties. That will bring down sale prices. They, or someone else, can buy in again when prices are down to earth.
I understand what you’re thinking but there are a lot of variables other than just cost. If you’re hoping for everything to just all of a sudden be cheaper and all home owners to just take a big hit , well I’m not in that camp.
Further, I’m not sure what market your focused on but there is always lower income options for rentals. Will they be in your ideal neighbourhood or what you want long term, probably not. Time will tell where the market goes.
@@RCheck185If a home owner bought more than 5-10 years ago, they're not really taking much of a hit. If they bought more recently, they bought into the bubble and they're part of the problem. They'll get no sympathy from me. I got burned in the stock market in the 2008 crash and nobody cared or came to my rescue.
I don't think it will happen, though. Too many politicians and powerful, wealthy people in general have their wealth in real estate. I'm just saying a huge price drop in both home prices and rents will be necessary for long term economic and social well being, and that's not going to happen. I fear for the future.
As far as lower income options for rentals, in Vancouver that means living in a tent or moving to where there's no jobs. When wealthy Vancouverites run out of immigrants (some living six to a bedroom) to drive Uber and serve coffee, they may have to re-visit this issue.
@@RCheck185 UA-cam is deleting my comments!
Steve you should never doubt Tiffy when he gets motivated
Retirees invested in the stock market are spending like crazy.
Check out Violent Night, great action Christmas movie
Labour fraud is happening for years. It's not 25k it's 50 to 70k (LMIA). and I know alot of people doing this fraud in GTA. It's been happening for years.
Stuff I hear from new Canadians in the GTA is wild to me. I feel like a lot of them are setting themselves up for failure and don’t realize. 1 person is co-signing on a lot of stuff because they have a good job and I don’t think they realize their credit is going to be sunk eventually.
@@latulip100 they don't care.
I should start by saying I have been in housing in the GTA for almost 40 years. To Ben's point around 39:00, when I hear CMHC I plug my ears and start humming. Further though, to Rich's point around 37:30, we are so short of housing it will take years of building with low immigration to get back to neutral around the GTA. For investors, they may have houses they rented 8 years ago for around $1800, and now rent easily for around $3500, they may fall back further to the mid $2000's or above, but still be way above what many would have expected a decade ago. Hopefully we will also get to a place where we don't have approx 15 people stuffed into a basement apartment. To Ben's point about the renewals in 2025 and 2026, although not everyone did the mortgage stress test, everyone I know definitely did, so the new rates will be at least 1-2% below the rate of the stress test. As for Christmas movies, nothing tops Christmas Vacation for me.
I hardly heard what Ben Rabidoux's theory is. I wish he hadn't been interrupted so often.
Does Ben Rabidoux sell Russian hats down at Battery Park?
Maybe the demographic challenges of developed countries are finally becoming more difficult to manage or procrastinate addressing.
Another stupid thing I find is how tfsa allow you to invest worldwide. Okay obviously I love that, but if I ran Canada, I’d only let you pay no tax on investment through tfsa iffffff its Canadian companies or etfs. Isn’t that also common sense? I would try to incentivize keeping the money within Canada to build Canada . Idk what am I missing here can’t be that simple 😅
It's an interesting idea, but I also hate it. Hah.
allowing investment outside means foreign capital is being earned elsewhere and could be brought back to this country which helps liquidity in the system (Assuming they bank or spend the money here) , its another way of money coming back and not relying solely on money from exports or tourism.
great discussion
Good work again dudes. Here we are the richest country in the world if we only would face north instead of south of the boarder. Lumber, minerals(solid and fluid)powerful rivers, massive lakes and on and on. Rather then put to good use what we have in abundance, our misguided politicos are stuck in and ugly pattern, 53:27 and like my Cessna’s left-turning- tendencies, fail to stomp in some right rudder to prevent a slow and low and fatal stall.
its going to be hard but regarding the renewal wave those people all should have been stress tested at levels that are higher than a variable mortgage is at today. Hopefully once Trudeaus horrible policies are gone we can get back to growing out of the mess he created. Unfortunately it may be tough because Trump is going to be a lot more pro business than we can afford to be given Trudeaus mess that needs to be cleaned up
Ron's a presumptuously arrogant Mr. Know It All. I would not give that guy a nickel.
Bubble world Ben clearly doesn’t know anything outside the GTA
The next government can’t do any worse than copy Trump’s “nominees for the people” site. Let’s all nominate Keith for a start.
👏
Can someone explain to me how cutting rates is bullish? I get it , easier money makes it easier for businesses and people to spend spend spend I got it, but lowering rates means the economy is struggling. Isn’t this a bear sign bro? lol. The markets always doing opposite it seems. Can never understand it short term pure clown in the short term like even look at Tesla stock 116 P/E ratio and it doesn’t stop. Like what? lol. What am I missing. Doesn’t a recession almost always follow rate cuts ? Are they going to really save this economy from a recession? Look at the u employment rate aren’t we in a recession? Do they just not admit it cause admitting it will crash the markets? I been holding cash but I feel stupid cause it keeps going up. I honestly don’t understand short term investing that’s for sure that’s why the top guys preach hold companies long and never mind the day to day. You can’t make sense of it. And now the tarrif talks with USA . Isn’t that bear as well? Isn’t that risky??? We know trump is a deal maker so he most likely started high at 25% but can we expect 5-10% tariffs? Isn’t that going to kill us again even more ? Lots of risk right now in the markets and they’re selling at crazy P/E ratios. Ultimate greed. But yea that could go on forever who knows right. Can’t time it. But just analyzing everting, it’s a bad time to invest in stock market unless you find like random deals but like buying s&p right now esp with cad dollar so low and everything else going on, I don’t get it.
When a govt has to tax people (the middle class) to death because the payments on the defect is close to or equal to gdp you know you are in a world of hurt
another .5% cut would be awesome.
I wouldn’t call a healthcare worker on the government trough. Poor choice of words.
Yet 40% of B.C. nurses are not at the bedside, but in administration. Many doctors, nurses and healthcare professionals have been fired or retired.
Rabidoux sounded alarmingly non-negative. Is he trying to placate to his clients? Seems personal self interest skewed his position much like all advisor talking heads
It could be self-delusion.
this dude is doing a disservice to all the companies buying ads on this show. just unintelligible gibberish when he readds ads lmao
First
First!
I came for the story, but left after the first 7 minutes with nothing...
I would have continued watching but 6 minutes in and were talking about twinkies and what people did on the weekend. So no thanks and I hit don't recommend channel
There's some lore to the channel. They do a special bet for every BOC rate announcement. Hope you come back Plus they're all nerds who have no friends, so they have to chat with each other or they'll go insane
You just don't get it. You're very important
@mashmash7888 Want to hear something crazy? UA-cam has this amazing function that actually lets you skip forward in videos😱🤯😲
I always skip the beginning part but you sound miserable lol. Your comment to me shows you’re not a happy person in real life. Why spread a negative energy these dudes are good dudes don’t be rude
I'm guessing you don't get invited to many parties.
NEED MORE MEDICAL FACILITIES/SCHOOLS
That isn't in the plan. Everything will transition to metaverse and digital doctors, teachers, etc.
@arctichero1 you're obviously part of the problem. Go to china, Japan, Russia or china. None of them haved doctor shortages, it's bullshit. They have enough schools to pump people out. Canadian doctors control the numbers to keep their pay.
Our job market is cooked; I'm seeing layoffs all over the place especially with skilled work. Reminds me of 2009 🥲