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In this episode, we explore why Canada feels like it's in an economic downturn in spite of not being formally declared as one. With high interest rates, inflation, rising joblessness, and softening retail demand, the financial landscape is tough. However, a rise in migration is keeping the economy afloat, supplying a vital buffer against recessionary forces.
Likewise in this episode:
The Bank of Canada is set to lower rates of interest once again, hoping to ease monetary pressures as inflation cools off.
The upcoming U.S. presidential election causes market volatility as Biden actions down and backs Kamala Harris.
Fairfax Financial Holdings acquires Sleep Nation Canada in a $1.7 billion offer, set to close in late 2024.
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Naaaahhh. We have a high demand for skilled labour and few people educating in the needed/necessary fields, therefore low supply.
That massive number of people will only be harmful unless their incentives are corrected, no?
We have a high demand for health care professionals and people in the trades. Unfortunately, most immigrants are not entering those fields. A whopping 18% alone of last year’s were refugess. We don’t need more people competing for IT jobs or minimum wage jobs at Tim Hortons. And those new people are taxing health care and real estate even more cauing major price dislocations.
I’d rather have a recession
Cry baby
Because a recession is defined as 2 consecutive quarters of negative gdp we technically haven’t had one. However we have lost productivity and are poorer because our gdp PER CAPITA is 3.6% lower than what it was in 2019. Immigration has hidden our decline, it hasn’t buffered it.
@joe97nsx Feds are playing with numbers so we don’t technically enter a recession. But we’ve been in recession since AT LEAST a year…
@@mark116007 sure feels that way. Especially for my older kid who has been looking for a co-op job in accounting for a while now.
That’s an unpopular opinion
It’s kind of true though
Thanks Marc
We have falling GDP per capita. That’s not good for Canada as a whole.
If you can’t provide the housing, schools, medical care, etc etc don’t invite people to Canada. I have a friend who is a prof who is researching this and he’s saying that there’s a huge housing problem that’s developed in places like Brampton. None of these immigrants can afford proper housing so unscrupulous people are ramming dozens of people into single homes.
Beyond this, it takes a very very long time to integrate these people on a social level. The last thing we want is people coming and not becoming “Canadian”. And yes this is important. We want people liberating themselves from the ideas that forced them to move here in the first place.
All the govt is doing by spiking immigration is to fake GDP growth and lowered working class wages.
Incomes have not kept up with real estate prices for 20 yrs. In Toronto 600% increases in home prices has dwarfed incomes. I really think the real estate sector has a huge correction coming and it’s going to pull the rest of the economy down for the next 2-3 yrs.
That’s true
When the GDP per capital has fallen enough and the average wage can barely buy someone enough food for subsistence while living in a shack… I for one will be glad that there has been no recession in decades and that corporate profits are still at ATH
I have no idea, but they are certainly tanking the housing market and making homes unaffordable for my generation
millions of vacant homes on the market at artificially inflated prices mate. builders would rather the houses rot than sell them at reasonable prices to avoid setting a precedent. immigrants aren’t your problem; the capitalists are
Vote accordingly next year.
aka Conservative
High level of immigration is simply making the housing crisis worst. Many immigrants live in crammed spaces, like 10 people in a house and 3 people in a bedroom, because they are used to it in their home countries. A basic starter home can go for a million dollars, which doesn’t seem too bad when there are 10 people to split the cost!
lmao no way you’re blaming the immigrant who’s being exploited rather than the capitalist landlord who is exploiting them…
With the U.S. affecting us Canadians so much, we sadly have to consider what they choose… it affects us all.
Thanks for the great video Marc. i miss Brandon
Just look around you when you take public transit, when you buy fast food, and people will see our country needs immigration or else inflation goes up dramatically
I noticed the markets getting fired up…especially the 35 A&W stocks I own (so I feel like I’m paying myself when I buy a hamburger).
SLEEP COUNTRY? ZZZZZ What about A&W? That is way more exciting!
lol, they are buying cheap stuff at the dollar store. they are not buying high end products made in Canada, those businesses (like mine) are barely making ends meet after not having any issues for the last 20 years.. this is the worst I have seen for my business since inception 28 years ago. They are causing inflation and keeping rates high..
Be honest, is immigration at a rate of 1000 000 people / year a benefit to Canada? Has this resulted in a housing bubble that will burst (Ponzi scheme)? Without uncontrolled immigration and house building, does Canada really have enough production of other stuff to support a bloated population?
Yes it is.
There’s immigration probably from Hong Kong over the past few years, but there’s also a bunch of people leaving the country… Due to the high living cost… Interest change isn’t changing much as most of the house owners still have mortgages locked for another year or 2..
I’d rather have a recession.
Invest in productivity growth. Housing is done.