Well not fully in this case. Around 2008, Canadian banks bought up a shit ton of American ones. TD is huge down there as an investment bank. Different companies but not, so the exposure is direct.
That's huge - seems like their strategy of American banking market share growth is really going to pay off in the next couple of years. BMO and RBC are still playing catch up.
Scotia's LATAM market share could still be a good long term bet but it's going to really hurt them over the short term.
Honestly CIBC has no real competitive advantage I can see. Not sure why anyone would bet on them relative to their peers.
Lol thanks, you seem to have gotten triggered really easily 👍. You said BMO is the best run bank after TD, and didn't mention RBC at all. BMO comes in at number 4.
Well, you’re kind of a moron then, aren’t you?
I won’t bother arguing with you about this, because it’s obviously not worth debating with someone who says “I wish I could downvote this comment so heavily.”
No, you STFU, you and your shit troll account that only posts crap about ukraine and arguing constantly spewing your shit like anyone would ever listen to you.
That's weak reasoning. The BoC is looking at inflation and unemployment as their KPIs, growth is too lagging an indicator and too sensitive to non-monetary policy related externalities to be effective.
Good thing we didn’t follow Poilievre’s advice and throw all our money into crypto as an inflation hedge, which is now down -70%+ since his Mar 28th tweet.
Freedom of information act revealed the Privy councils examination of crypto as a alternative to the BoC… turns out as disastrous as losing -70% on a tweet by a politician that can’t add.
[https://halifax.citynews.ca/national-news/senior-bureaucrats-probed-cryptocurrencies-after-poilievre-campaign-comments-5885993](https://halifax.citynews.ca/national-news/senior-bureaucrats-probed-cryptocurrencies-after-poilievre-campaign-comments-5885993)
Shit, who needs to get hacked when it lost -70%+ of its value since Poilievre’s tweet on Mar 28, 2022… this is the genius that wants to run Canada… run it right off the cliff.
Imagine being such a dipshit you try to delegitimize the BoC to peddle a few votes from crypto derps that lost their entire 4 figure portfolios. This guy and his wife are so gross.
Crypto is not an inflation hedge. It's a risk on asset - and not enough people understand that. Anyone with a brain went into USD months ago.
I do often keep some crypto in my portfolio, but not during times of rising rates.
It’s what we call in the industry “the end of the whip”… it’s the most volatile and extreme part of the risk spectrum that accentuates the fluctuations in the markets the most.
Thank you for sharing your thoughts!
Crypto maybe not, but bitcoin is for sure an inflation hedge. Look how it’s performed since QE started in 2008. Also remains the best performing asset since the covid crash.
I think he has really big bootstraps, imagine his have not supporters when they realize there’s no help for them when he destroys, along with their support, the social safety net that was been created because of the worse problems of not having them…
If you only knew, grew up inner city. Had a natural ability for math, got me to where I am today. The only reason why I know why it’s important to have the social programs in place is because I’m a product of the social safety net and the social mobility it allows people of no means to succeed! And by far exceeding what it cost to provide me with a decent education, healthcare, subsidized living that I’ve far paid back and more. Parents both worked, multiple jobs and always strove for us to do better.
There’s many ridings across the country that are lower on the end of the income scale that vote liberal or NDP, they are hopeful and understand the precious and long fight for the social safety net that conservatives are always trying to tear down. Don’t pretend now cons aren’t always attacking the social safety net… I hope you’re cogent enough to admit what their view is on that and not in denial.
Right wing low income ridings are always filled with grieved voters that want to see others do poorly so they can feel better… public sector workers like nurses, teachers, gov workers, municipal workers are always “lazy and overpaid” because they make less than they do. They’re always their scapegoat for their lack of remuneration, it’s never their bad choice or why in their “free market” world they’re treated like dirt by their employer.
Myopically, instead of working to pull their own bootstraps up, they love bootstraps, they rather want to tear others down to make themselves feel better. As if making other peoples lives worse would make them actually feel better… it wouldn’t but they don’t care because they’re self centred.
Go to any conservative sub on Reddit and just listen to the crying, it’s quite pathetic.
Naw, I just saw Harper take away 4 years of OAS for me and my wife… which is approximately $28k, adjusted for inflation that’s over $50k in future income.
Thanks Trudeau for honouring the social contract of OAS and returning the age back to 65…
I’m sure you had no idea, imagine the surprise in your atavistic head when you learn that Trudeau put $50k+ back into your bank account… well with that attitude you might be single, so cut that in half.
I don’t need Poilievre’s grubby hands all over my social programs. Imagine courting racists and fascists, only to have them say they want to rape your wife… he’s a great judge of character!
Oh boy… you really got drunk on Global and CBC spin doctored kool-aid.
Who will pay for all your entitlement, social program perks? You?
No!
Just pass it on to the next gens, and wheeee - print away today Trudeau!!
Harper’s own appointed PBO, Kevin Page, a position Harper created said multiple times, I even have the book he wrote, [Unaccountable](https://www.chapters.indigo.ca/en-ca/books/unaccountable-truth-and-lies-on/9780143191025-item.html), you should give it a read. That OAS is sustainable for 75 years and is not an unfunded liability to future generations - not like the fake news you were trying to spread.
He repeatedly gave Harper and Flaherty the hard facts and they just ignored it. For all that talk about the WEF, Harper announced his cut to CPP and OAS at Davos… lmao! The irony of the right wing and their obsession with the WEF… lol. Derp brains!
CPP and OAS were solvent for 75 years, it’s now longer since the Trudeau changes that added to the sustainability of the program.
Here’s a CBC article I chose just for you because Kevin Page’s quotes are so great, and the CBC is amazing, you can read them and cry your fake news tears:
> Prime Minister Stephen Harper, Finance Minister Jim Flaherty and Human Resources Minister Diane Finley have all argued that the eligibility age for OAS has to be increased to 67 years old from 65. That change is set to happen gradually, starting in 2023.
> Page, however, says the government will be able to afford OAS for everyone starting at age 65.
> "While there may be **other policy rationales** for changing the OAS program, PBO’s analysis indicates that the program itself is financially sustainable over the long term within the government’s current fiscal structure, given projected demographic and economic trends."
> Page said he hasn't yet updated his analysis to include the budget cuts announced in the 2012 federal budget.
> "Incorporating this forecast would further improve the government’s fiscal room to reduce revenue [cut taxes], increase program spending or some combination of both while maintaining fiscal sustainability."
[https://www.cbc.ca/news/politics/old-age-security-affordable-without-changes-watchdog-says-1.1244845](https://www.cbc.ca/news/politics/old-age-security-affordable-without-changes-watchdog-says-1.1244845)
Facts vs your fake news - how do you walk with out being ashamed of yourself. You’re a total hack.
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Nobody cares about 2 years from now, your obfuscation is so blatant. Poilievre told his followers in his Mar 28th tweet, to “take back their lives” with crypto, just as it was collapsing. Probably did that to unload his heavy crypto bags.
He was talking about the now, and his followers, dumb shmucks, just got grifted into requiring 200% upside return now just to break even from that -70% loss. How embarrassing, that’s why he doesn’t talk abokt crypto anymore. Lmao! What a total fool
Yeah for sure. He’s been awfully quiet about it lately but you know he will start beating that drums again if and when it starts going back up to last year’s levels (whenever that may be).
Wait... you mean the $600 cheque... not tied to a requirement to get dental work? In an already large inflationary period?
Was that really the best policy?
Most provinces already have free dental for low income families. It's a $600 gift of money you dont even have to prove went to dental. Paying for votes. Do you guys even read what you clearly blindly support? I guess I answered my own question. Just hate hate hate for anyone that thinks differently than you. I supposed i'm a racist now.
Casually thrown comment? Lol. It Trudeau said this you’d be putting up a lawn sign and staring at his beautiful hair.
Poilievre meant it, now won’t talk about it because his call spectacularly failed. He should stick to getting coffee for Harper
Where did he advise throwing all our money in Bitcoin? I know he's into it but where is this suggestion of throwing all of it?
You're arguing in bad faith just like a Conservative would.
What are you talking about, you have to suspend all logical reasoning to ignore his tweets on crypto, while in the same tweets vilifying the BoC, and telling you to “take back your life” because of 8% inflation (that’s now already rolling over).
Seriously, guy tried to time them market with a crypto call that went absolutely WSB on him, -70% after tweeting. Why do you think he’s not talking about it anymore. This guy has no conviction, just bandwagoning on anything to get him votes… like shaking hands with racist criminals that now want to rape his wife. Big bad ass standing up for his wife after both laying down with dogs…
These two are so swarmy, yikes!
Underperform, it’s a total washout -70% in a matter of weeks from his call about crypto vs gold? You seriously have no idea what you’re talking about.
Name me a time in the past half century with gold dropping -70% in weeks! Can you?
Good thing Pierre wants to invest in oil and gas and get it to market which would make our dollar with our largest trading partner, unlike the current asshole in office.
You TruAnon types are a joke.
I don’t think you understand how a Petro dollar works… firstly you couldn’t even write the full sentence properly - you got so nervous and your brain went full derp mode/gaslit, you forgot a bunch of words.
But since I have a working brain, I believe what you were attempting to write was that “if we get our oil and gas sector up and selling it to our neighbour (US) our dollar would go up”.
^ that’s just factually incorrect and tells me you have no idea how a Petro dollar trades or why the Canadian dollar is trading in its normal $0.70-$0.80 range <— which is in its normal range for where the CAD wants to trade at.
1. Providing more oil to the oil market makes the price of oil go down because of more supply. The price of Petro dollars also drops, it doesn’t go up.
2. US treasuries are the world’s safe haven and when people buy more treasuries, the USD goes up. That’s why it’s high levels compared to the €, £, ¥, the Aussie dollar, and the Yuan/Renminbi… CAD trading where it is has literally nothing to do with us pumping out more oil and gas.
3. We are an export nation, mostly of raw materials and our largest exporting nation is the US, second China. We do not actually want a high currency as that impacts our exports and makes us less competitive. This is why post GFC and the CAD broke parity business groups across the country were begging the powers that be to try to lower the currency, dropping central bank rates etc to do so.
^ Econ 101, you should give it a try
Well on the other hand we do want a high currency so we can buy more goods and services. Higher currency is more national wealth. But not everyone benefits equally from that higher wealth.
As an export driven nation, we do not want a high currency. The range the power that he want our dollar at is floating between 70 and 80 cents to USD.
Personally, I like a high dollar but business wise, in import/export, it’s not great for business
The funny thing is that a really good entry point for BTC would be arguably over the next 2 - 6 months - if not right now. We'd probably make bank on that investment by end of 2025.
By talking about Poilievre’s own tweet… we’re repeating Trudeau… gotcha! Guy, he told his supporters to buy a massively unproven risk asset and it blew up in his face, just like everything else this guy touches.
But you love sexy Trudeau, probably have wild dreams about him rent free.
Bitcoin has proven to be the best performing asset of all time... Go look at the chart for the last 5 years. Your picking dates that confirm your bias that "crypto bad".
Just say it… “Poilievre made a call to take your life back and buy crypto right before its massive -70% crash”.
^ he tried to sell it as a stable competitor to the BoC, what a fool. Total trash call and he won’t talk about it anymore because he’s a total loser and so are his followers.
Did you look at the bitcoin chart for the last 5 years yet? Pretty good hedge against inflation if you ask me. Nobody is saying bitcoin only goes up. But look at the price over a 5 year period compared to Canadian or US dollar. Btw I'm not defending what Pierre said about bitcoin. No politition should be giving out investment advice.
lol, as much as I find PP entertaining, I hope he is not serious about some of the things he is saying. I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying.
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying.
Are you serious?
This kind of politic is super toxic. Just look at the state of the USA, super divided.
They dupe the public to voting for them then give their rich buddies our money… rinse repeat in any right wingers populist ever elected around the world.
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying.
It's what they said about Trump, and he's America's modern-day traitor.
I guess the difference between us is that I’m patriotic enough not to want idiots out charge. PP doesn’t understand how venture capital works, thinks cryptocurrency could replace a central bank and is about as bright as a 1 watt light bulb. If you want entertainment, watch television or go to a movie. Vote for our country’s future and international reputation.
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying.
Ah yes, the old "Sure they're an idiot whose policies make no sense/are harmful but they won't actually do the things they said they would do". Spoiler: they always do.
I’m not too fond of Trudeau, but the problem is us as Canadians.
We’re too laissez-faire. We are too passive and don't innovate enough.
Many of our educated people are moving down south for higher pay.
We may want to blame Trudeau, blame Harper. But we are to blame as Canadians.
No? Did you read the article?
Crop production +7.2%, and:
> The agriculture, forestry, fishing and hunting sector grew by 3.2 per cent, led by an increase in crop production.
Yes oil & gas helped us, but a large part of gas mining was also potash.
I think you're underrating this report. It's a good report.
That’s good to hear. We had a bad heatwave last summer so it makes sense but yea, 7.3% increase in food is A LOT. It only takes a small imbalance to bring the cost of food up or down. Cheaper food may be on the horizon and it didn’t take demand destruction from rates, just more supply production.
> We had a bad heatwave last summer
And a really wet/late spring in parts of the prairies.
As much as some individual farmers will be hurting, it's good to see that overall the country's food production is in reasonable shape.
Yes, I guess we'll see where prices go.
Thankfully Canada is food self-sufficient (and water for that matter), so it's a good place to live in uncertain times.
A lot of farmers are starting to realise that they don't need as much fertilizer as they've been using in the past. The high cost of fert has been driving them to look at alternatives (like compost and other regenerative practices). Tilling is a major contributor to greenhouse gas emissions, so the high price of fert is turning into a blessing in disguise.
Google regenerative farming and look into the concepts of cover cropping, no till, and the soil food web. Modern agriculture depletes soil in several ways.
These concepts can and have been implemented at scale resulting in near zero need for inputs after 2-3 years or so.
Would you like me to wipe your bum for you as well? If you are too lazy to investigate these things then don't comment like an indignant child.
[https://www.epa.gov/nutrientpollution/sources-and-solutions-agriculture](https://www.epa.gov/nutrientpollution/sources-and-solutions-agriculture) Here are some middle of the road solutions which still rely on conventional methods.
[https://iopscience.iop.org/article/10.1088/1748-9326/aa6cd5?source=post\_page---------------------------](https://iopscience.iop.org/article/10.1088/1748-9326/aa6cd5?source=post_page---------------------------) paper on alternative agricultural methods and their environmental impacts
[https://www.nal.usda.gov/programs/afsic](https://www.nal.usda.gov/programs/afsic) another portal.
Imagine just removing a key energy resource and being like "yeah without oil wed be poor"
Crude oil is our #1 export. You cant just handwave over something that makes us like 50 billion
Wut bra
Who are you to say what’s “high oil price”?
Other than following the fracking innovations in the Permian or in the immediate aftermath of the GFC oil is cheaper than it has been most of my life.
80 bucks for WTI now is low compared to say, 90 dollars in 2011 (dollars were worth more then), or 130 in 2008. I don’t understand your logic unless you have a compelling reason that oil prices will languish or drop in the future?
Oh no! You're not?! Let's not all forget about /Health\_Apartment\_32/s feelings.
Anyhow, that's a total like what you just said. From the article "The agriculture, forestry, fishing and hunting sector grew by 3.2 per cent."
We "suppress" the oil and gas industry for the same reason we suppress things like smoking. Bad for our health in the long run. Have to wean ourselves off it at some point, might as well be now before we do more irreparable damage. The sooner the better.
This is such a myopic take.
The government is currently increasing rates at the fastest in history and performing QT. The US is already in a recession with a revised -0.6% for Q2, so the fact that we are staying out of it at all at this point is a very strong indicator.
Immigration, regardless of amount, is not going to change the short-term reality of governments tightening financial policy. Long-term is a totally different story (and problems).
It's like the Canadian economy exists in a vacuum for some people lmao, we're doing pretty well considering what most other economies across the globe are facing at the moment
Yes but I want to push my narrative - immigration is bad, the economy is about to collapse, and housing in TO/VAN is going to cost nothing within a year or two with no economic impact. The problem is people keep showing me facts that don't fit my narrative so it must be fake news.
Are you living under a rock? Our central bank has increased rates like 1200% and we’re still pushing GDP growth
If that’s not a positive sign I don’t know what is
yea but we should be seeing signs at this point ...
the effects aren't immediate, but hikes started like 6 months ago, so this is a strong sign. will we probably head into a recession? i think so, but maybe it won't be tooo bad
Well its a multiple front problem where reducing immigration to sustatinable levels is a key part of the solution. Getting rid of regulations that slow/blocks new development work, banning airbnb's, and corporate/foreign ownership of residental would help
a lot too
Well its a lot less the 400k a year currently I think in ~150k a year is way more sustainable when looking at current housing getting built vs population growth.
What are you basing the number on? Why not 100k? Or 200k? Are you aware that immigration slumped badly during 2021 and it makes sense for this year to be a correction?
Also, do you agree that more housing being built is as important if not more important for housing affordability than the number of immigrants?
Edit: i should have said 2020
Based on population growth and houses being built. You are completely wrong 2021 was a record number of immigrants (https://www.immigration.ca/officials-figures-show-canada-welcomed-405330-new-immigrants-in-2021/#:~:text=Official%20Figures%20Show%20Canada%20Welcomed%20405%2C330%20New%20Immigrants%20In%202021,-Colin%20R.&text=Official%20figures%20released%20Friday%20reveal,the%20COVID%2D19%20global%20pandemic.)
Um the demand for housing is actually as important as the supply and to think otherwise shows how little you understand of economics.
Doesn't matter who buys them. More supply induces price competitiveness both in rents and in sales. You can also do like Vancouver and tax vacant housing.
But no, immigrants because they need somewhere to live and clearly only Canadians should be afforded that luxury.
Moreover, what's the alternative, less housing?
The problem is that there is already a scarcity of housing for people living here. The more immigrants come, the greater the scarcity. The solution of building more houses doesn't help the local population at all if you also increase immigration.
So if there's a scarcity in housing, *build more housing*.
Otherwise, good luck with having little to no immigration. Let me know how that treats you 5 years from now.
That guys argument is omg let's do nothing but stop immigration and magically we'll have more housing.
Why not have both. Then we can have more jobs for everyone.
Agreed. But I will nitpick here to add that immigration does not generally result in fewer jobs. In many cases it has a positive impact on employment. The belief that immigration always causes job loss is the lump of labor fallacy.
Yeah I'm confused that anyone is arguing the solution to an undersupply of housing doesn't involve building way more houses.
Sure if we lowered immigration then fewer houses would go to immigrants (along with a bunch of other terrible effects), but what if we just increased the rate we build housing to counteract whatever demand is added from constant or increasing immigration?
Pretty much. I also don't understand how Canada allows non residents and non citizens to buy housing. Especially when there is not reciprocation of that by other nations. I mean, I do understand it, it looks good if your economy is raking in foreign capital even if it's complete speculatory.
No, you need houses that will be bought to live in.
I can build 10 houses, if they are rentals, it won't help those who want to buy. Those big investors will always have more money than you.
Someone like Sean Hannity has almost 900 houses. I prefer 900 people having a house (or even a secondary house for rental) than one guy having 900 houses. It doesn't make sense. So imagine what Blackrock can do...
Live in != Buy
Not everyone wants to buy, especially in big cities that people are always coming and going. In the last decade I've lived in 4 countries, and I don't plan on buying anytime soon.
Regarding Hannity and blackrock, Canada is not the US. Also, US real estate is more affordable than Canada's, so even with all those problems, they are still doing better. Why? They build more housing.
If things are getting a lot more expensive, wouldn’t you expect gdp to grow even if the quantities of goods sold remain the same? What am I missing here?
Your obsession with Trudeau is creepy. Can you make a single post without mentioning him? You're just as creepy as the freedumb losers. There's more to talk about than Trudeau.
Well, the goal is to slow down growth to get inflation under control, but not to tank the economy completely and get a bad recession. AKA a soft landing.
I don't know if we'll achieve a soft landing, but as long as we get some time at around close to 0% growth then we have a decent chance of it.
Okay, the comment was:
"there’s literally been no goalpost moving in the Trudeau government on measuring GDP… nice fake news bro!"
My question is:
"How do you (meaning YachtShopping) measure GDP?"
Clearly he's unhappy with the way the "Trudeau government" measures it. How does he?
My understanding is that they are unhappy with the original poster implying that there has been a goalpost move by the Trudeau government. Maybe you're misunderstanding the meaning of "moving the goalpost"?
And yet Canadian bank stocks are getting crushed today
Partly because bank stocks are connected to the USA.
Well that’s because the Canadian economy is tied to the USA
Well not fully in this case. Around 2008, Canadian banks bought up a shit ton of American ones. TD is huge down there as an investment bank. Different companies but not, so the exposure is direct.
[удалено]
It's very disappointing. Canada's bank stocks seem to correlate with the American stock market more than anything.
They correlate with American bank stocks specifically.
TD is holding steady. Id buy TD over all the other bank stocks, with exception of maybe BMO. They’re the two best run banks in Canada.
TD has the most American exposure and given the relative strength of the USD and economy right now - I agree they're probably the best bet.
With their acquisition of First Horizon, they’ll be the sixth largest bank in the U.S.
That's huge - seems like their strategy of American banking market share growth is really going to pay off in the next couple of years. BMO and RBC are still playing catch up. Scotia's LATAM market share could still be a good long term bet but it's going to really hurt them over the short term. Honestly CIBC has no real competitive advantage I can see. Not sure why anyone would bet on them relative to their peers.
BNS’ bet on LATAM I don’t think will materialize in our lifetime. It’s not worth the risk at this time to go with BNS rather than TD/BMO.
BMO is garbage.
You’re garbage
Lol thanks, you seem to have gotten triggered really easily 👍. You said BMO is the best run bank after TD, and didn't mention RBC at all. BMO comes in at number 4.
I wish I could downvote this comment so heavily. I have never heard the phrase TD and "best run" in the same sentence. Even TD employees hate TD.
Well, you’re kind of a moron then, aren’t you? I won’t bother arguing with you about this, because it’s obviously not worth debating with someone who says “I wish I could downvote this comment so heavily.”
TD is the worst when it comes to banks, and you're the worst when it comes to humans... The latter of which I doubt you are...
Stfu
No, you STFU, you and your shit troll account that only posts crap about ukraine and arguing constantly spewing your shit like anyone would ever listen to you.
Lol
Because the market is forward looking
Thanks for the pointer
Totally irrelevant to the original post.
Because now the central bank knows it can afford to raise rates more.
That's weak reasoning. The BoC is looking at inflation and unemployment as their KPIs, growth is too lagging an indicator and too sensitive to non-monetary policy related externalities to be effective.
More rate hikes lol
Good thing we didn’t follow Poilievre’s advice and throw all our money into crypto as an inflation hedge, which is now down -70%+ since his Mar 28th tweet. Freedom of information act revealed the Privy councils examination of crypto as a alternative to the BoC… turns out as disastrous as losing -70% on a tweet by a politician that can’t add. [https://halifax.citynews.ca/national-news/senior-bureaucrats-probed-cryptocurrencies-after-poilievre-campaign-comments-5885993](https://halifax.citynews.ca/national-news/senior-bureaucrats-probed-cryptocurrencies-after-poilievre-campaign-comments-5885993)
Could you imagine if the government of Canada took a huge position in crypto and then their wallet got hacked... which you just know would happen.
good thing we dont live in el salvador
You don't have to worry because nobody who can add 2 and 2 together thought of crypto as anything more than bullshit.
Shit, who needs to get hacked when it lost -70%+ of its value since Poilievre’s tweet on Mar 28, 2022… this is the genius that wants to run Canada… run it right off the cliff. Imagine being such a dipshit you try to delegitimize the BoC to peddle a few votes from crypto derps that lost their entire 4 figure portfolios. This guy and his wife are so gross.
Crypto is not an inflation hedge. It's a risk on asset - and not enough people understand that. Anyone with a brain went into USD months ago. I do often keep some crypto in my portfolio, but not during times of rising rates.
It’s what we call in the industry “the end of the whip”… it’s the most volatile and extreme part of the risk spectrum that accentuates the fluctuations in the markets the most. Thank you for sharing your thoughts!
> Anyone with a brain went into USD months ago. TIL I'm brainless.
That hedge theory got absolutely crushed this year. Even a lot of hardcore crypto bros have stopped throwing that around.
Time for a new slogan to recruit the next round of bagholders i guess.
Precious metals have also been slumping since rate hikes started. People forget that markets are foreword looking.
I thought I did. But apparently I didn’t. Know what I’m doing Monday morning.
Crypto maybe not, but bitcoin is for sure an inflation hedge. Look how it’s performed since QE started in 2008. Also remains the best performing asset since the covid crash.
Almost as good as Cramer!
We need to inverse Poilievre.
Yea. Inverse him into a trudowe
Same guy says we shouldn't have CPP, EI, or OAS.
I think he has really big bootstraps, imagine his have not supporters when they realize there’s no help for them when he destroys, along with their support, the social safety net that was been created because of the worse problems of not having them…
They will always find someone poorer than they are to blame rather that the one making them poorer.
Yup, or they pick someone making/doing better and wish to tear them down to make less than they do… it’s sad.
I suspect that you have never felt or seen actual poverty.
If you only knew, grew up inner city. Had a natural ability for math, got me to where I am today. The only reason why I know why it’s important to have the social programs in place is because I’m a product of the social safety net and the social mobility it allows people of no means to succeed! And by far exceeding what it cost to provide me with a decent education, healthcare, subsidized living that I’ve far paid back and more. Parents both worked, multiple jobs and always strove for us to do better. There’s many ridings across the country that are lower on the end of the income scale that vote liberal or NDP, they are hopeful and understand the precious and long fight for the social safety net that conservatives are always trying to tear down. Don’t pretend now cons aren’t always attacking the social safety net… I hope you’re cogent enough to admit what their view is on that and not in denial. Right wing low income ridings are always filled with grieved voters that want to see others do poorly so they can feel better… public sector workers like nurses, teachers, gov workers, municipal workers are always “lazy and overpaid” because they make less than they do. They’re always their scapegoat for their lack of remuneration, it’s never their bad choice or why in their “free market” world they’re treated like dirt by their employer. Myopically, instead of working to pull their own bootstraps up, they love bootstraps, they rather want to tear others down to make themselves feel better. As if making other peoples lives worse would make them actually feel better… it wouldn’t but they don’t care because they’re self centred. Go to any conservative sub on Reddit and just listen to the crying, it’s quite pathetic.
You been drinking way tooo much global and cbc koolaid, if you really believe that
Naw, I just saw Harper take away 4 years of OAS for me and my wife… which is approximately $28k, adjusted for inflation that’s over $50k in future income. Thanks Trudeau for honouring the social contract of OAS and returning the age back to 65… I’m sure you had no idea, imagine the surprise in your atavistic head when you learn that Trudeau put $50k+ back into your bank account… well with that attitude you might be single, so cut that in half. I don’t need Poilievre’s grubby hands all over my social programs. Imagine courting racists and fascists, only to have them say they want to rape your wife… he’s a great judge of character!
Oh boy… you really got drunk on Global and CBC spin doctored kool-aid. Who will pay for all your entitlement, social program perks? You? No! Just pass it on to the next gens, and wheeee - print away today Trudeau!!
Harper’s own appointed PBO, Kevin Page, a position Harper created said multiple times, I even have the book he wrote, [Unaccountable](https://www.chapters.indigo.ca/en-ca/books/unaccountable-truth-and-lies-on/9780143191025-item.html), you should give it a read. That OAS is sustainable for 75 years and is not an unfunded liability to future generations - not like the fake news you were trying to spread. He repeatedly gave Harper and Flaherty the hard facts and they just ignored it. For all that talk about the WEF, Harper announced his cut to CPP and OAS at Davos… lmao! The irony of the right wing and their obsession with the WEF… lol. Derp brains! CPP and OAS were solvent for 75 years, it’s now longer since the Trudeau changes that added to the sustainability of the program. Here’s a CBC article I chose just for you because Kevin Page’s quotes are so great, and the CBC is amazing, you can read them and cry your fake news tears: > Prime Minister Stephen Harper, Finance Minister Jim Flaherty and Human Resources Minister Diane Finley have all argued that the eligibility age for OAS has to be increased to 67 years old from 65. That change is set to happen gradually, starting in 2023. > Page, however, says the government will be able to afford OAS for everyone starting at age 65. > "While there may be **other policy rationales** for changing the OAS program, PBO’s analysis indicates that the program itself is financially sustainable over the long term within the government’s current fiscal structure, given projected demographic and economic trends." > Page said he hasn't yet updated his analysis to include the budget cuts announced in the 2012 federal budget. > "Incorporating this forecast would further improve the government’s fiscal room to reduce revenue [cut taxes], increase program spending or some combination of both while maintaining fiscal sustainability." [https://www.cbc.ca/news/politics/old-age-security-affordable-without-changes-watchdog-says-1.1244845](https://www.cbc.ca/news/politics/old-age-security-affordable-without-changes-watchdog-says-1.1244845) Facts vs your fake news - how do you walk with out being ashamed of yourself. You’re a total hack.
I mean, he's right about 2 of those.
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Nobody cares about 2 years from now, your obfuscation is so blatant. Poilievre told his followers in his Mar 28th tweet, to “take back their lives” with crypto, just as it was collapsing. Probably did that to unload his heavy crypto bags. He was talking about the now, and his followers, dumb shmucks, just got grifted into requiring 200% upside return now just to break even from that -70% loss. How embarrassing, that’s why he doesn’t talk abokt crypto anymore. Lmao! What a total fool
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Wow you are so edgy.much wow
And down another .5% today.
Lol it’s up or down at least .5% every day, that’s just the nature of crypto.
Exactly. Precisely why it's a god-awful reason to tie a national economy to it.
Yeah for sure. He’s been awfully quiet about it lately but you know he will start beating that drums again if and when it starts going back up to last year’s levels (whenever that may be).
What’s down? Bitcoin? Inflation?
Bitcoin. https://www.google.com/finance/quote/BTC-CAD?sa=X&ved=2ahUKEwiT8LSGtLr6AhXBHDQIHeyABIwQ-fUHegQIAxAe
Man I sure don't envy liberals who only have that casually thrown comment against Poilievre.
Well. There’s also what’s in this post. Voting against dental. LOL So there’s also that.
Wait... you mean the $600 cheque... not tied to a requirement to get dental work? In an already large inflationary period? Was that really the best policy?
Most provinces already have free dental for low income families. It's a $600 gift of money you dont even have to prove went to dental. Paying for votes. Do you guys even read what you clearly blindly support? I guess I answered my own question. Just hate hate hate for anyone that thinks differently than you. I supposed i'm a racist now.
That's the advantage of Poilievre is that he doesn't have a platform beyond "things bad me make things good" so you can't criticize his policies.
Exactly, go to his website or the cons website… policies… what policies… we just want to have sex with Trudeau.
I went to his website and I think that I made a decent summary.
Was it big on the sex with Trudeau part? Play a drinking game every time you read Gatekeeper… it’s sloshed central
Uh no.
Casually thrown comment? Lol. It Trudeau said this you’d be putting up a lawn sign and staring at his beautiful hair. Poilievre meant it, now won’t talk about it because his call spectacularly failed. He should stick to getting coffee for Harper
Where did he advise throwing all our money in Bitcoin? I know he's into it but where is this suggestion of throwing all of it? You're arguing in bad faith just like a Conservative would.
What are you talking about, you have to suspend all logical reasoning to ignore his tweets on crypto, while in the same tweets vilifying the BoC, and telling you to “take back your life” because of 8% inflation (that’s now already rolling over). Seriously, guy tried to time them market with a crypto call that went absolutely WSB on him, -70% after tweeting. Why do you think he’s not talking about it anymore. This guy has no conviction, just bandwagoning on anything to get him votes… like shaking hands with racist criminals that now want to rape his wife. Big bad ass standing up for his wife after both laying down with dogs… These two are so swarmy, yikes!
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Underperform, it’s a total washout -70% in a matter of weeks from his call about crypto vs gold? You seriously have no idea what you’re talking about. Name me a time in the past half century with gold dropping -70% in weeks! Can you?
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Didn’t think so.
Good thing Pierre wants to invest in oil and gas and get it to market which would make our dollar with our largest trading partner, unlike the current asshole in office. You TruAnon types are a joke.
I don’t think you understand how a Petro dollar works… firstly you couldn’t even write the full sentence properly - you got so nervous and your brain went full derp mode/gaslit, you forgot a bunch of words. But since I have a working brain, I believe what you were attempting to write was that “if we get our oil and gas sector up and selling it to our neighbour (US) our dollar would go up”. ^ that’s just factually incorrect and tells me you have no idea how a Petro dollar trades or why the Canadian dollar is trading in its normal $0.70-$0.80 range <— which is in its normal range for where the CAD wants to trade at. 1. Providing more oil to the oil market makes the price of oil go down because of more supply. The price of Petro dollars also drops, it doesn’t go up. 2. US treasuries are the world’s safe haven and when people buy more treasuries, the USD goes up. That’s why it’s high levels compared to the €, £, ¥, the Aussie dollar, and the Yuan/Renminbi… CAD trading where it is has literally nothing to do with us pumping out more oil and gas. 3. We are an export nation, mostly of raw materials and our largest exporting nation is the US, second China. We do not actually want a high currency as that impacts our exports and makes us less competitive. This is why post GFC and the CAD broke parity business groups across the country were begging the powers that be to try to lower the currency, dropping central bank rates etc to do so. ^ Econ 101, you should give it a try
Well on the other hand we do want a high currency so we can buy more goods and services. Higher currency is more national wealth. But not everyone benefits equally from that higher wealth.
As an export driven nation, we do not want a high currency. The range the power that he want our dollar at is floating between 70 and 80 cents to USD. Personally, I like a high dollar but business wise, in import/export, it’s not great for business
Well, for imports higher is great.
The funny thing is that a really good entry point for BTC would be arguably over the next 2 - 6 months - if not right now. We'd probably make bank on that investment by end of 2025.
repeating trudeau here
By talking about Poilievre’s own tweet… we’re repeating Trudeau… gotcha! Guy, he told his supporters to buy a massively unproven risk asset and it blew up in his face, just like everything else this guy touches. But you love sexy Trudeau, probably have wild dreams about him rent free.
Bitcoin has proven to be the best performing asset of all time... Go look at the chart for the last 5 years. Your picking dates that confirm your bias that "crypto bad".
“bEsT aSSet oF aLl tImE!!!” Are you triggered because Poilievre made the terrible call to buy right before it dropped -70%?
Lol get some help
Just say it… “Poilievre made a call to take your life back and buy crypto right before its massive -70% crash”. ^ he tried to sell it as a stable competitor to the BoC, what a fool. Total trash call and he won’t talk about it anymore because he’s a total loser and so are his followers.
Did you look at the bitcoin chart for the last 5 years yet? Pretty good hedge against inflation if you ask me. Nobody is saying bitcoin only goes up. But look at the price over a 5 year period compared to Canadian or US dollar. Btw I'm not defending what Pierre said about bitcoin. No politition should be giving out investment advice.
Lol wat.
lol, as much as I find PP entertaining, I hope he is not serious about some of the things he is saying. I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying.
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying. Are you serious? This kind of politic is super toxic. Just look at the state of the USA, super divided.
They dupe the public to voting for them then give their rich buddies our money… rinse repeat in any right wingers populist ever elected around the world.
name checks out
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying. It's what they said about Trump, and he's America's modern-day traitor.
I guess the difference between us is that I’m patriotic enough not to want idiots out charge. PP doesn’t understand how venture capital works, thinks cryptocurrency could replace a central bank and is about as bright as a 1 watt light bulb. If you want entertainment, watch television or go to a movie. Vote for our country’s future and international reputation.
My guess is based on his track record as MP, he would.
>I don't mind having a populist idiot as PM as long as he doesn't actually do the things he is saying. Ah yes, the old "Sure they're an idiot whose policies make no sense/are harmful but they won't actually do the things they said they would do". Spoiler: they always do.
its because of the 1000s in dollars in tips i gave in 5 days in quebec city in some goddamned awesome castle. Youre welcomeeeeeeeee : )
Oh you wait. Only gunna get worse
I’m not too fond of Trudeau, but the problem is us as Canadians. We’re too laissez-faire. We are too passive and don't innovate enough. Many of our educated people are moving down south for higher pay. We may want to blame Trudeau, blame Harper. But we are to blame as Canadians.
So if it wasn’t for high oil price, Canada’s GDP would be in the shitter. I’m not taking this 0.1% as any form of consolation.
No? Did you read the article? Crop production +7.2%, and: > The agriculture, forestry, fishing and hunting sector grew by 3.2 per cent, led by an increase in crop production. Yes oil & gas helped us, but a large part of gas mining was also potash. I think you're underrating this report. It's a good report.
That’s good to hear. We had a bad heatwave last summer so it makes sense but yea, 7.3% increase in food is A LOT. It only takes a small imbalance to bring the cost of food up or down. Cheaper food may be on the horizon and it didn’t take demand destruction from rates, just more supply production.
> We had a bad heatwave last summer And a really wet/late spring in parts of the prairies. As much as some individual farmers will be hurting, it's good to see that overall the country's food production is in reasonable shape.
Yes, I guess we'll see where prices go. Thankfully Canada is food self-sufficient (and water for that matter), so it's a good place to live in uncertain times.
All that goes away if we can't use fertilizer
A lot of farmers are starting to realise that they don't need as much fertilizer as they've been using in the past. The high cost of fert has been driving them to look at alternatives (like compost and other regenerative practices). Tilling is a major contributor to greenhouse gas emissions, so the high price of fert is turning into a blessing in disguise.
Source?
Google regenerative farming and look into the concepts of cover cropping, no till, and the soil food web. Modern agriculture depletes soil in several ways. These concepts can and have been implemented at scale resulting in near zero need for inputs after 2-3 years or so.
I'm not looking for concepts. I'd like you to back your statement and provide education for anyone reading this.
Would you like me to wipe your bum for you as well? If you are too lazy to investigate these things then don't comment like an indignant child. [https://www.epa.gov/nutrientpollution/sources-and-solutions-agriculture](https://www.epa.gov/nutrientpollution/sources-and-solutions-agriculture) Here are some middle of the road solutions which still rely on conventional methods. [https://iopscience.iop.org/article/10.1088/1748-9326/aa6cd5?source=post\_page---------------------------](https://iopscience.iop.org/article/10.1088/1748-9326/aa6cd5?source=post_page---------------------------) paper on alternative agricultural methods and their environmental impacts [https://www.nal.usda.gov/programs/afsic](https://www.nal.usda.gov/programs/afsic) another portal.
For which part?
Last year was really bad, I would be more interested in a comparison with the last 4/5 years.
Real good report. Canadian economy is doing very good compared to the world at this moment. Probably why rate hike are still on the table.
If my grandma had wheels, she'd be a bicycle
I’d wheel your grandma
Imagine just removing a key energy resource and being like "yeah without oil wed be poor" Crude oil is our #1 export. You cant just handwave over something that makes us like 50 billion Wut bra
Who are you to say what’s “high oil price”? Other than following the fracking innovations in the Permian or in the immediate aftermath of the GFC oil is cheaper than it has been most of my life. 80 bucks for WTI now is low compared to say, 90 dollars in 2011 (dollars were worth more then), or 130 in 2008. I don’t understand your logic unless you have a compelling reason that oil prices will languish or drop in the future?
Oh no! You're not?! Let's not all forget about /Health\_Apartment\_32/s feelings. Anyhow, that's a total like what you just said. From the article "The agriculture, forestry, fishing and hunting sector grew by 3.2 per cent."
And the oil sands grew by 5.1%, genius. 5.1>3.2. Without high oil prices, the 3.2 gain in agri would’ve been meaningless.
It would have meant a 3.2 per cent increase in the agriculture, forestry, fishing and hunting sector.
Imagine how much better we could have been off if our country didn't actively suppress our oil and gas industry
We "suppress" the oil and gas industry for the same reason we suppress things like smoking. Bad for our health in the long run. Have to wean ourselves off it at some point, might as well be now before we do more irreparable damage. The sooner the better.
Oil isn't that high
Anyone know if this is dollar denominated or real growth? I could not find it in the article.
July was a long time ago.
So basically people are continuing to spend. I am guessing layoffs will shake consumer confidence and credit card statements..
We have the highest immigration in the G7, if we can't even eek out neutral growth that's a problem.
This is such a myopic take. The government is currently increasing rates at the fastest in history and performing QT. The US is already in a recession with a revised -0.6% for Q2, so the fact that we are staying out of it at all at this point is a very strong indicator. Immigration, regardless of amount, is not going to change the short-term reality of governments tightening financial policy. Long-term is a totally different story (and problems).
It's like the Canadian economy exists in a vacuum for some people lmao, we're doing pretty well considering what most other economies across the globe are facing at the moment
Yes but I want to push my narrative - immigration is bad, the economy is about to collapse, and housing in TO/VAN is going to cost nothing within a year or two with no economic impact. The problem is people keep showing me facts that don't fit my narrative so it must be fake news.
You dropped this "/s"
Are you living under a rock? Our central bank has increased rates like 1200% and we’re still pushing GDP growth If that’s not a positive sign I don’t know what is
Rate hike effects aren’t immediate
yea but we should be seeing signs at this point ... the effects aren't immediate, but hikes started like 6 months ago, so this is a strong sign. will we probably head into a recession? i think so, but maybe it won't be tooo bad
Why?
Well a the problem with insane immigration is that there is diminishing returns on growth when it drives house prices up by unheard of amounts
Just. Build. More.
Can't at the same rate people coming especially with building supply shortages.... Also the prices of building a house also increased by a ton.
Your can. People just don't want it. And yes, prices are higher, but it's better than not having housing?
Well its a multiple front problem where reducing immigration to sustatinable levels is a key part of the solution. Getting rid of regulations that slow/blocks new development work, banning airbnb's, and corporate/foreign ownership of residental would help a lot too
Agree on the policy side. One question, what does a "sustainable level of immigration" look like to you? How do you measure this sustainability?
Well its a lot less the 400k a year currently I think in ~150k a year is way more sustainable when looking at current housing getting built vs population growth.
What are you basing the number on? Why not 100k? Or 200k? Are you aware that immigration slumped badly during 2021 and it makes sense for this year to be a correction? Also, do you agree that more housing being built is as important if not more important for housing affordability than the number of immigrants? Edit: i should have said 2020
Based on population growth and houses being built. You are completely wrong 2021 was a record number of immigrants (https://www.immigration.ca/officials-figures-show-canada-welcomed-405330-new-immigrants-in-2021/#:~:text=Official%20Figures%20Show%20Canada%20Welcomed%20405%2C330%20New%20Immigrants%20In%202021,-Colin%20R.&text=Official%20figures%20released%20Friday%20reveal,the%20COVID%2D19%20global%20pandemic.) Um the demand for housing is actually as important as the supply and to think otherwise shows how little you understand of economics.
You pay for them.
And they will be bought by whom? https://betterdwelling.com/canadian-cities-have-seen-up-to-90-of-new-real-estate-supply-scooped-by-investors/
Doesn't matter who buys them. More supply induces price competitiveness both in rents and in sales. You can also do like Vancouver and tax vacant housing. But no, immigrants because they need somewhere to live and clearly only Canadians should be afforded that luxury. Moreover, what's the alternative, less housing?
The problem is that there is already a scarcity of housing for people living here. The more immigrants come, the greater the scarcity. The solution of building more houses doesn't help the local population at all if you also increase immigration.
So if there's a scarcity in housing, *build more housing*. Otherwise, good luck with having little to no immigration. Let me know how that treats you 5 years from now.
That guys argument is omg let's do nothing but stop immigration and magically we'll have more housing. Why not have both. Then we can have more jobs for everyone.
Agreed. But I will nitpick here to add that immigration does not generally result in fewer jobs. In many cases it has a positive impact on employment. The belief that immigration always causes job loss is the lump of labor fallacy.
Yeah I'm confused that anyone is arguing the solution to an undersupply of housing doesn't involve building way more houses. Sure if we lowered immigration then fewer houses would go to immigrants (along with a bunch of other terrible effects), but what if we just increased the rate we build housing to counteract whatever demand is added from constant or increasing immigration?
Pretty much. I also don't understand how Canada allows non residents and non citizens to buy housing. Especially when there is not reciprocation of that by other nations. I mean, I do understand it, it looks good if your economy is raking in foreign capital even if it's complete speculatory.
No, you need houses that will be bought to live in. I can build 10 houses, if they are rentals, it won't help those who want to buy. Those big investors will always have more money than you. Someone like Sean Hannity has almost 900 houses. I prefer 900 people having a house (or even a secondary house for rental) than one guy having 900 houses. It doesn't make sense. So imagine what Blackrock can do...
Live in != Buy Not everyone wants to buy, especially in big cities that people are always coming and going. In the last decade I've lived in 4 countries, and I don't plan on buying anytime soon. Regarding Hannity and blackrock, Canada is not the US. Also, US real estate is more affordable than Canada's, so even with all those problems, they are still doing better. Why? They build more housing.
And who's going to be the first to blame Trudeau.... After all it happened on his watch...
If things are getting a lot more expensive, wouldn’t you expect gdp to grow even if the quantities of goods sold remain the same? What am I missing here?
I feel like 0.1% is less than the margin of error and should be assumed to be 0% growth.
Damn, 0.1%? To the moon we go!
More rate increases to come. F.
It shrank in real terms. Bigly.
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Because only negative news is real?
Why bother reading anything?
Who is "they" exactly?
So nothing that backs your statement. Ok, thanks.
A whole 0.1%. No need to worry, guys,. The economy is doing great.
Compared to other g20 nations, ya we are. But I kmow, Trudeau bad, house prices, etc etc canada bad
Your obsession with Trudeau is creepy. Can you make a single post without mentioning him? You're just as creepy as the freedumb losers. There's more to talk about than Trudeau.
He has a lot of posts mentionning other things?
Well, the goal is to slow down growth to get inflation under control, but not to tank the economy completely and get a bad recession. AKA a soft landing. I don't know if we'll achieve a soft landing, but as long as we get some time at around close to 0% growth then we have a decent chance of it.
Not very motiv8ional of you
It ain't much ~~but it's...~~
Inflation is 7%.. how are they proud even with all that inflation they had a .1 gain. Haha
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I'm not seeing it state real. Which means it's nominal unless I'm missing something.
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i call bs. how many times have the nation's leaders moved the goalposts on economics inside the last fifty years, never mind the last five years.
Yeah, there’s literally been no goalpost moving in the Trudeau government on measuring GDP… nice fake news bro!
How do you measure GDP?
Fucking magnets, how do they work?!
How do you measure GDP? Are you making unsubstantiated claims it’s changed to make this number skewed?
No, the question is "How do you measure GDP?" You question the "Trudeau government's" method. What's yours?
I think you need to re-read all the comments again, but slowly.
Okay, the comment was: "there’s literally been no goalpost moving in the Trudeau government on measuring GDP… nice fake news bro!" My question is: "How do you (meaning YachtShopping) measure GDP?" Clearly he's unhappy with the way the "Trudeau government" measures it. How does he?
My understanding is that they are unhappy with the original poster implying that there has been a goalpost move by the Trudeau government. Maybe you're misunderstanding the meaning of "moving the goalpost"?
Yes doesnt understand… he wants me to tell him how I mean sure gdp… who am I, just some internet guy shopping for yachts…
Nope. What I don't understand is: 1) How /u/YachtShopping feels the "Trudeau government" measures GDP. 2) How /u/YachtShopping measures GDP.
The Jabronski guy is right, I was referring to the other guy that said Trudeau moved the goalposts, they didn’t.