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In this episode, we dive into the current struggles of the Canadian dollar, which has actually seen four straight weeks of declines. We take a look at why the Bank of Canada's rate cuts are playing a major function and discuss how upcoming U.S. elections might produce more unpredictability for Canada's economy.
Also in this episode:
Canada's migration cuts might affect financial growth and cause slower GDP, possibly impacting labor markets and real estate expenses.
Occupants throughout Canada face libel suits from property managers over public complaints on poor living conditions, intensifying tensions in Canada's rental market.
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Great video, Marc! Keep them coming!
Cutting rates is an unsustainable way to grow the economy. You eventually run out of room and kill your currency. At some point, the system needs to fail to get our economy off of housing.
Completely agree. Pulling the strings to prop up real estate and hiding the real fundamental problems will end up much worse than pulling the bandaid
Lets be honest here folks. as an immigrant living here the past decade in this country, there is no labour shortage there is only business which cant pay decent wages to their employees. The new immigrants doesnt know their labours worth so the businesses can take advantage of that. You can ask me how do I know that? Because I was that immigrant once. These businesses can keep churning them.
I went into McDonald today, ALL the staff (except 1 white guy) appears to be Filipinos or Indians. A lot of Filipinos and Indians came as students, so I am confused as to why so many of them are working minimum wage jobs when there are sooo many higher paying jobs. Even if it to just get their foot in the door.
I mean… There is some truth to the labour shortage back in 2022 when the premiers cited labour shortages like 380,000 in ontario after the effects of COVID. I remember when they said the feds wanted to bring in 450,000 immigrants by 2024 to address such a shortage and premiers said even that amount wasn’t enough. After all, this was a time where many individuals were participating in the quiet quitting as well as receiving more from CERB money than their actual paychecks. Obviously, the numbers that eventually brought in as many immigrants from then was ridiculous and what I believe to be for wage suppression purposes as you suggest. I think the labour shortage was a legitimate concern at the time
Well… its because there is no labour shortage that wages haven’t increased. If there were less immigration, creating a need for labour, then the wages would go up. This is the better way to increase wages compared to forcing a minimum wage. The former gives power to workers while the latter strip away the power.
TOOO MANY rich indians and chinese coming over here screwing up our country. They need to go. They come here as students, complain and feel entitled. Ya call me a racist, thats fine by me i am entitled to my opinion, but its a major issue that everyone here is overlooking. All you woke individuals need to get a grip on life.
True man. The corporates are addicted to cheap immigrant labour.
While immigration has indeed boosted consumption and overall GDP growth, it has not improved GDP per capita. In fact, GDP per capita has declined, indicating that despite increased immigration, Canadians are becoming poorer. Additionally, the influx of immigrants has exacerbated long wait times for medical care, worsened the housing shortage, and driven up rent prices. How will bringing in 500,000 more people at this time help our situation? Sorry____forgot to mention the rising crime rate.
I am pretty sure the numbers show that immigrants are not usually doing the crimes…blaming this all on immigrants is pretty old and tired.
@@roberttaylor3594 No, not all immigrants are criminals for sure , but there is a correlation between increased unvetted immigration and crime especailly in the last ten years.
Exactly😮
100%. Also, the idea that Canadians won’t do certain jobs is a mindless talking point. I’m a millennial, but I know so many people in their 20’s who are desperate for any job, but now can’t find anything. Not to mention, wages are now suppressed.
Immigration should support the economy, not drive the economy. Blindly bringing in big numbers will only increase the number of low wage jobs. Canada needs innovation/tech/resources dev….and we seriously need better leadership and a better vision from our political leaders.
well said
Actually the main problem is lack of trade between Canada and Mexico. But you know they aren’t allowed because we aren’t a country. We are a colony.
There is another side to the movement of people coin. Canada lost a lot of great people. People who don’t want to live in a third world country where their bank accounts might be frozen or they might be held in by the soft Berlin wall of a denied or delayed passport. When great people leave, the economy suffers. And the countries they’re leaving for says a lot about how bad things are here. Countries where no matter how they live, they will always be seen as a foreigner or Gringo.
You should put timestamps on these videos will be really awesome
The country is clearly already in a recession despite the GDP number. This policy limits Permanent Residence approvals, but does little to nothing to actually limit immigrants from flooding in under work and ‘study’ permits.
Not sad if you’re horlding USD.
Us. Stocks going up right now would be huge gains cause are dollar so weak lol that’s true
Banks are giving immigrants loans and credit cards thus increase is due to debt.
Canada is a resource-rich country.
The present government has not been friendly at all to companies in the resource sector and has succeeded in scaring away foreign investment instead of nurturing these businesses and allowing them to grow.
If you want GDP growth and a strong Canadian dollar, you need to develop and export more than you import.
The Gov’t role should be to promote and nurture these companies instead of trying to kill them
No … Canada is just a poorly run branch plant… to other empires. 😮
Sadly we don’t make those resources on to end product. We just sell them as raw matterrial to The US and China
Thanks Marc! 1/2 my investment portfolio is in CAD and 1/2 in USD. Helps with those currancy fluctuations.
thanks for hitting on this
Great breakdown of the economic challenges Canada is facing!
Great video very important for Canadians to understand. Cut the rate of immigration back to 2015 numbers and adjust who is getting in on needed skills & ability to contribute to the economy asap. And it will help open up more affordable housing.
What Canada should do is reboot the mining sector for rapid productive gold mines, restock the national vaults, and back the currency with gold. 90 percent of your forgien currency issues would vaporize, and Canada would not be treated as a sorry branch-plant to other empires. Canada would not need poorly skilled immigrants that do hot blend culturally over decades, and also reform the abortion laws. Healthy incomes encourage new younger starter family formation and boosts natural born loyal citizens. 😢
I see a bunch of tim hortons closing and I am ok with that
*soon we will call it the Canadian Peso and Trudeau’s picture will be on back of the looney* lol…
Great video! Just one thing you forgot to mention inregards to immigration, they are also reducing temporary residence from 7% to 5% of overall population, thats a reduction of roughly 800,000 people, when combined with the permanent reduction it equals a .2% negative growth in population for the next 3 years!
I come from South America and this strategy of setting people against each other is widely known: tenants vs. landowners, locals vs. immigrants, supermarkets vs. customers, etc. The only responsible for inflation is government overspending and money printing. Nothing else more.
Need to put improving productivity front and center. Wealth creation and growth is through creating more value per unit of labor input. A larger labor pool through ill-thought-out mass immigration increase makes total GDP bigger, but every individual worker does not feel the benefit and only see dwindling public service per head. That is exactly what Canada is facing.