Canada should already be cutting rates: Wellington-Altus' Jim Thorne
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- Опубліковано 12 тра 2024
- Jim Thorne, chief market strategist at Wellington-Altus Private Wealth, joins BNN Bloomberg to discuss why he thinks the BoC should cut rates before the Fed.
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Rate cuts commence in June 2024, taking 6-8 months to complete. A potential crash, if any, might occur by March 2025. The soft landing narrative is gaining traction, making this big recession everyone is calling for less likely. With $1 million from a business sale, I'm seeking profitable investment opportunities for the next 3 years.
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increasing in rate resuliting to high inflation 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.
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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!
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Svetlana Sarkisian Chowdhury is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
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Canada should be cutting immigration and international students. That SHOULD be the priority. However, we have a very weak and useless government...
Should be deporting
Every single financial structure we have, from government and corporate revenues to stocks bonds and the real estate sector - are all predicted on population growth.
There isn’t a government on earth which would do any differently.
your crazy.
@@shelbzillathrilla2 SUBS IN 10 YEARS. and you support AI ? get a vag .
This guy just wants his housing portfolio to look pretty. 2.5% by next year is insane.
No rate cuts this year.
fiat bag holder ?
Cuts are required as are the removal of Trudeau and Singh. This axis of weasels is destroying Canada and Canadians.
If only the world were as simple as partisans.
You have that right!
If we don't have a recession/ depression there is no future for Canada. No rate cuts for 2-4 years.
he is either overleveraged or shorting the CAD
Both
He own's many houses.
K, minimum wage earner here.
Not interested in taking more than I need and if I find myself in need of more than minimum, the minimum was too low.
As I understand it, from a casual observer's point of view, rates rise and prices fall, rates fall and prices rise, yes?
K, we won't get into the semantics, that's the long and the short of it in two nutshells.
No, we most certainly not should be seeing rates falling already.
Prices are still 28% too high.
You can't forego 2% for a fiscal quarter and then say "k, back to business as usual."
Not going to happen, neighbor.
I am still trapped in this death trap rental with no way to come up with the down payment you want, even though I never miss a rent payment, or I'd be homeless. Yes, trapped, it's 65% the price of the smallest, dampest, dirtiest other one on the market and 25% larger and it has a tub. Single sink was my only complaint, when I moved in. There are 10 now(ie1: leaky ceiling during north winded thunderstorms, ie2: radiator leak during repair in Feb 2023 in unit above mine that caused every 'other' ceiling to partially collapse-not fixed yet). Each one has been reported, and nothing has happened. 13 years and no work done aside from the most dire of emergency work. 13 years and 6 owners, who've each put it up for sale less than 3 months in, no doubt turning an unjust profit and very unjustly enraging the next owner.
rate cuts -> .5usd=1cad. is this worth it?
It wouldn't be that extreme. 0.55 - 0.50 max.
0 GDP growth in Canada, so pur dollar is not worth shit anyway. If interest rates dont go down and we dont get some tax cuts, our economy is in deeper shit
Save in gold bullion!
I want to see the interest rates to go higher.
Says the guy living with his parents
@@lookanabeauti9386 You don't even know me. How on earth would you know where I live?
Where do you find these analysts? This guys is a joke. Boc needs to keep rates high in order to allow a correction to happen. He is praying that they cut in order for the distortions to continue. Anyways, what a joke.
Look at the euro, if boc lowers rates, the candian dollar will get stronger... give your head a shake
With high interest rates and no investment, the Canadian dollar will become more shit.
He’s an economist with a PhD. Do not sure that’s a joke.
Lazy people should go back on welfare
let's talk about how consumer borrowing has replaced wage growth. employers need to pay higher wages across all industries. for too long, wages have been stagnant, despite moderate increase in cost of living.
if wages dont increase, then the basic personal amount needs to increase to at least 30k. this may be more effective vs raising minimum wage, and all wages. before this, a whole bunch of financially illiterate and overlevered people need to go broke, unfortunately.
So many professional economists in the comment section.
Well, economic slowdown is good because it destroys government revenue and ability to deficit spend. It's good to see those exceptions being dialed down. Smaller Gov ppl
Wow, are you a party whip or are you a party whip.
If the party, entity, individual, what ever, employs a whip, I oppose it.
Shelter inflation is caused be interest rates yes, but also Trudeau's disaster of an immigration policy.
Fellow is over valuing the yield curve differential.
Well said. Thank you
Cause and Effect! Interest rate hikes are caused by inflation. And inflation measures INCLUDE the costs of accommodation (rent, mortgage installments, utilities, property taxes, condominium fees, home repairs and maintenance). If you want to see interest rate cuts- focus on resolving what's causing inflation.
How many are LMIA jobs in this?
Don't cut rate, I dont want canadian dolloars depreciates; people should be responsible for their investments.
Haha financial sector - couldn’t be replaced by AI fast enough
So cutting rates will boost the Canadian dollar and will not affect renters. Appears he has a big mortgage
People are not aware of how much America debt bonds out country has been buying since we sold all our gold its a disgrace .
I don’t know who would give this guy’s firm any money to invest as he doesn’t understand the basic principles of economy. The value of CAD will tank more if BoC goes first and it will create shock in our imported goods prices which will lead to higher inflation. In addition, you have a government in place that thinks money is still cheap and is printing like there is no tomorrow and taxing the population, we are not going to get out of this easy
Nice to see mister PhD back in action. "I'm not here for slander". 😊
I thought Jim sold all his Canadian investments?
Sure is a funny way to keep the economy in check, by making sure unemployment is high before doing anything about it 🙄
90 000 jobs created, 40 thousand part time and 26 000 public sector...24 000 full time jobs created by the private sector...That is not a strong employment growth.
Forget employment! The Bank of Canada has one imperative: keeping inflation down to 2 percent or less. Until this target is achieved, I expect no interest rate cuts.
@@W1thcdoctor1987 Its already down under 2% if you remove shelter inflation that is directly impacted by interest rates.
@@MM-xg2td You may be arithmetically correct with that statement. But I suggest you focus on CAUSE and EFFECT: Inflation caused interest rate hikes by the Bank of Canada. And measures of inflation INCLUDE the costs of accommodation. My point is simple: If we want to see interest rate cuts- we must resolve what's causing inflation. And these inflationary metrics include the costs of rent, utilities, property taxes, condominium fees, home repairs and maintenance- as well as the HST and gas/carbon taxes that may apply to these items.
@@W1thcdoctor1987 Only shelter inflation goes into the BOC's target, the rest they cannot control.
Rates should be increased, wealthy people buying everything up for cheap lending rates and wannabes maxing out their credit cards because they love to max out their credit cards.
DRIVE PRICES DOWN.
❤❤❤❤❤❤❤❤❤
STOP BUYING
Everyone ask your Governor for your rate-paying electronic cash account...
Governors are US...
The blurb says BoC.
That's Canada.
No sale gas lighter.
I predict NO INTEREST RATE CUTS by the Bank of Canada- given the relative strength of the US dollar- our largest trading partner. Not before winter 2024.
Rate cuts are going to depreciate the value of CAD, especially if the US Fed doesn't cut their rates equally, which will mean higher inflation in grocery prices as we import a lot of food. This guy is just shilling for his bag.
They said rate cuts 6 nths ago after interest rates would be low for a long time... keep drinking the kool-aid
His investors own there homes. He could care less about young people.
5% BoC rate is low. Why would they make the same mistake to have it near 0? High interest rate would be 10% or above lol
Did you not see the April job report?
Chances are, the Canadian government will create 100k jobs in May, all high pay, full benefits and full time in private sectors.
BOC must keep hiking the interest rate till 15-20%, before holding it high indefinitely
This is perfect example of a youtube economist
😂
Lol this guy that gets so upset all the time
Oh yeah, because some fool said so
If we cut rates, home owners will just try and sell their homes for hundreds more. We are so out to lunch what things are worth.
We dont need cuts,keep rates the same.This guy needs a new job as he does not know what he is talking about.
i think we can live with. .25 basis point cut
You are free to think.
Welcome to Canada.
You are also free to express, unless you ask Elections Canada, then you have to vote if you want your expression measured, even thought the MP can just sit at home pounding brewskies and chompin' steaks and be counted as an abstained voter.
75 of them were abstained when MAID passed.
That's why it passed with 66%, instead of the 80% it would've passed with, if we were equal to our MPs, like the charter says we are.
This so-called strategist is out of his mind. Gas price is $1.63/L in average nation wide. He thinks inflation fight is over. Is he smoking weed? By the way, WEED is way down.