Addressing Canada's productivity problem

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Күн бұрын

Kevin O'Leary, chairman of O'Leary Ventures, joins BNN Bloomberg to share his economic outlook amid capital gains tax change.
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Пікірлер: 136

@LeahLewis-ny9iu 3 ай бұрын

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

@AshleyKeith-vw7ws 3 ай бұрын

With the Canadian dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

@BrianAlbert-hh3pi 3 ай бұрын

With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.

@EricaWaters-lr6zw 3 ай бұрын

This is definitely considerable! Do you think you could suggest any professionals or advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.

@BrianAlbert-hh3pi 3 ай бұрын

Just research the name Desiree Ruth Hoffman. You’d find necessary details to work with a correspondence to set up an appointment.

@EricaWaters-lr6zw 3 ай бұрын

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

@jtome84-91 3 ай бұрын

Majority of the country is ready to boot the “ idiots” out

@chion918 3 ай бұрын

more than ready, since 8 years ago!

@abcdedfg8340 3 ай бұрын

We also need to start learning from more productive countries like Germany and France with better living standards, and healthier populations than the United States i heard, where people tend to stay their entire lives instead of openly talking about leaving for other places. I suspect it has to do with reasonable work life balance and reasonable living costs. But they don't get that by doing nothing, they actually use their democracy and civil society to create real solutions. Just my opinion.

@MrSandman213 15 күн бұрын

⁠@@abcdedfg8340bro, why not try to learn from the Untied States? We have always had higher productivity per hour worked and wages than either europoor Germany or France, and we are literally right next to Canada with the exact same language, and an almost identical culture, with a ton of plug and play solutions for Anglo-Canada

@user-light_and_salt 3 ай бұрын

This man has the backbone to speak out loud the truth

@abcdedfg8340 3 ай бұрын

@W1thcdoctor1987 3 ай бұрын

I agree with Kevin's statement about capital flight. I checked the value of Canadian equities in my RRSP portfolio. Its now down to seven percent today, and was 90 percent a decade ago. I blame Trudeau's horrific fiscal policies for Canada's economic situation.

@ron.mexico. 3 ай бұрын

Doesn’t work like that. No better time to invest in Canada than today. This is what they call the bottom formation, my friend. Either you go and chase tech stocks or you buy the greatest monopolies in the western world.

@W1thcdoctor1987 3 ай бұрын

@@ron.mexico. I sold most of my RRSP and TFSA holdings of Canadian bank, insurance, supermarket and utility shares 24 months ago and purchased tech stocks like Microsoft, ServiceNow, META, Amazon, NVIDIA, and Apple. Since then my overall RRSP portfolio value significantly increased So I'm not sure when I'll reinvest in Canadian shares- probably after October 2025 when we have a 'common sense" tax regime.

@ron.mexico. 3 ай бұрын

@@W1thcdoctor1987 buy VEQT and call it a day. Vanguard has asset allocation figured out. One day, Canada will outperform again and you won’t time it right. I won’t believe these politicians until I see them do some something rather than these tag lines. Best of luck.

@alanphillips1209 3 ай бұрын

Doctors in Canada are extremely bad people. I have been prescribed opioids for 20 years. They refuse to address the cause and give me a spinal fusion. They just leave me in agony so I am unable to work or "do" anything. Meanwhile I watch friends get a fusion done and are all better. Why not me ? Canadian doctors are bad to the extreme. Clearly they idolize Josef Mengele. God help us ?

@Deusmecumest 3 ай бұрын

I blame those who keep voting all sjw virtue signaling, feel or sound good policies advocates. Grow a pair, vote to work and keep your hard earned cash. Opportunities in this country are dwindling. And the working middle class it's getting crushed since the late 1980s.

@maxineporter8848 3 ай бұрын

When it comes to policy on natural resources, it is always now about consultation and consent with the owners of the land, ensuring "green" regulations, environmental assessments get followed and approved. It takes forever. There is no predictability for an investor as to when the process gets (if it does) completed. Quicker to look elsewhere. Also I agree on the competency of ministers in certain portfolios (ie finance). Why is it that DEI is the criteria, not experience in the related field. Older people are in leadership positions because they have been around in jobs, managed and created results. That takes time.

@michael2275 3 ай бұрын

All of that is way too reasonable. We are a joke country run by the WEF, they want to destroy prosperity, it's part of the plan. You will own nothing and eat the bugs.

@agodelianshock9422 3 ай бұрын

We exist as cheap slightly higher skilled labor for US companies, that is our problem. They don't want to train us, retain us, tool us up, and we aren't doing it ourselves because that's what we've been taught about business from the big US companies we all started at. Our jobs are outsourced from them, we have nothing here of our own.

@endlessorbaggins8223 3 ай бұрын

1:00 This man just said what I thought and what I think a LOT of Canadians have realised.

@MontrealKid628 3 ай бұрын

Canada was not productive even prior to the recent capital gains changes to taxation. The problem is a lack of investment by corporations in their businesses and employees, coupled with low(er) salaries (relative to the U.S.) and high payroll taxes which don't offer much incentive for employees to work longer hours or strive for career growth.

@abcdedfg8340 3 ай бұрын

@RC-fh2lk 3 ай бұрын

Can’t stand this guy but he’s totally right. Guess I like him now lol

@marcb3097 3 ай бұрын

Like him or not he's right

@brianoconner3090 3 ай бұрын

Kevin speaks more substance and has more knowledge of what he is into. On the other hand, our finance minister, enrvironment minister and prime minster are like clowns. Our finance minister has no background in finance, our environment minister is an activist, lasty our prime minister is a joke. No wonder this country is slowly facing into oblivion.

@ramumasankaran4588 3 ай бұрын

This is the best interview I have seen all this year❤

@jimlogagianes7277 3 ай бұрын

There are a lot of people in Canada getting paid extremely well that are very unproductive. We pay handsomely for mediocrity in Canada. Are GDP figures confirm this.

@isaiahsmith8523 2 ай бұрын

We make less than those in the U.S. in almost every category. Not only that, we are taxed significantly more.... leaving us with a few dollars to afford food and shelter that is priced significantly higher.

@jpl9148 3 ай бұрын

I want this guy in the cabinet

@nairnbaker7385 3 ай бұрын

No.. remember what trudeau said. It's 2015 that's why it's half men and half women. Not the best people for the job. It's based on woke ideology not sounds principles.

@glass8289 3 ай бұрын

What about the productivity increases, process and technology advancements happened for past 50 years? That should have bought down the costs or atleast some of the costs. Why everything is expensive than it's 10 years ago?

@endlessorbaggins8223 3 ай бұрын

USA have a lot greater productivity. While technology has advanced in general we are still behind in many domains. Productivity is measured as GDP/working hours and if memory is right we are like 30% behind USA. Many manufactures do not use up-to-date technologies. Canadian companies are not investing enough in R&D. There needs to be critical changes to increase our productivity (which is flat since the last decade by the way) otherwise we will just get poorer. The greater the productivity, the greater the paychecks.

@rolone8902 3 ай бұрын

Shh... Sleazy oleary doesn't want to mention that because it highlights that the corps and their owners ate up all the productivity gains and gave the 99% of us slaves the short end of the stick.

@rolone8902 3 ай бұрын

Shh... Let sleazy oleary speak, he doesn't want to deal with a "woke" like you making logical sense. The productivity gains got eaten up by the corps and their owners, while the 99% of us slaves were stuck with short end of the stick

@rolone8902 3 ай бұрын

Shh... He doesn't want people to hear the truth. It's true, productivity gains over the last decades were eaten up by the 1%, corps, wealthy owners, etc while us common folk got the short end of the stick.

@abcdedfg8340 3 ай бұрын

@@endlessorbaggins8223 Yes but their health outcomes are pretty terrible. Also look at Europe, where productivity is the same or higher in many countries, and people tend to be healthier and have better work life balance. Just my opinion.

@isaiahsmith8523 2 ай бұрын

The problem is that nothing will change based on who we vote for. Canada was struggling before Trudeau and it will struggle after him. When 40% of our country's GDP is in real-estate we have a problem.

@Frank-ni4me 3 ай бұрын

Leverage Canada’s natural resources, agriculture and build tech sector ~ we’ll be golden

@marl6908 3 ай бұрын

This guy str8 up killed a guy on a lake.

@Jack_Danyo 3 ай бұрын

The answer is simple. Stop taxing people so much. Its not rocket science. The more you work in this country the more you are taxed. Even two part time jobs that equal full time hours your taxed to hell. There is no reward for rolling up your sleeves and doing an honest days work in this country

@peterchennakkaden7436 3 ай бұрын

A fundamental change is the need to compete globally

@dominicpaszkiewicz6954 3 ай бұрын

I see Mr O'Leary, and I hit the Like button. In all seriousness, I vehemently agree with the opinion that Canada is one of the, literally, richest countries on planet earth and yet we have been consistently managed poorly. For some reason, we have a propensity to elect inept leaders. You can be extremely wealthy and balance other portfolios like environment, immigration and others. Norway is a perfect example of this. But yet we allow a small minority to dictate the absolute worst policy decisions.

@john-tr8jy 3 ай бұрын

Let's be real,. this country is done unless the people who created and maintain the current conditions GIVE UP, and we know they will not do that. Now, who are these "people?" is the ultimate question.

@abcdedfg8340 3 ай бұрын

Those people are the people who live here. But its up to them if they want to change the situation for the better. We have a democracy, organizations, and civil society. They should be using it if they really care for their lives and future. Canadians will have to find a way out of this productivity and burnout crisis, what will they do?

@isaiahsmith8523 2 ай бұрын

We must get money out of real-estate.... If people can spend their dollars on businesses instead of shelter we would be more productive.

@TheBHAitken 3 ай бұрын

LOL Completely short-sighted based on self-interest. The truth of the matter is that if your work involves a computer, your job can and will be replaced by AI in the next 3 to 5 years at a cost of approx. $5000 per head. This INCLUDES the CEOs as they are only employees bowing down to the stockholders. Not that holding stock is going to help anyone near the end of all this, but it is going to be fun to watch.

@rolone8902 3 ай бұрын

Im a semi-early career professional and I know my job will be automated in the next 3-5 years. What I'm mad about is that every boomer enjoyed the benefits of having a tech job, got paid big money and are now retired while the young millennials and Gen z have to deal with unemployment and an AI world where we dont have a UBI to meet basic needs

@kalvli 3 ай бұрын

Truth

@lukemoloney1113 3 ай бұрын

Too many marijuana cigarettes!

@donm2067 3 ай бұрын

Not enough marijuana cigarettes!

@lukemoloney1113 3 ай бұрын

@@donm2067 agreed!

@zomgoose 3 ай бұрын

Folkebevegelsen mot innvandring

@RobertLeroux-b3v 3 ай бұрын

Straight answer here please..... Do we work for government or do they work for us?? Completely Finacially irresponsible! It's a social welfare state now and you don't steer a ship that quickly, it's going to take time, lots and lots of time to fix this mess Justin! Vote with your feet 🇨🇦 the ballot box is a long shot now!

@ehsankhateezyar 3 ай бұрын

😊

@24theMoney 3 ай бұрын

Work from home = time theft

@twisttwister8254 3 ай бұрын

Getting rid of incompetent Trudeau would solve this

@DaveTung-y8h 3 ай бұрын

Chrystia Freeland is the Greta Thunberg of Canada.

@SamSensei955 3 ай бұрын

My guy you didn’t answer the question about the productivity problem. Clearly here to push an agenda.

@paulmeier3462 2 ай бұрын

Is it just me or did he sound an awful lot like Trump!

@robotron26 3 ай бұрын

Wait, is this tax avoiding Kevin O’leary?

@manjushapraveen2285 3 ай бұрын

While attracting capital into Canada, who's making sure that Canadians are getting employed?

@Ek0 3 ай бұрын

The threat of corporations leaving is long winded and overplayed. They have been saying this since the beginning of stock market.

@rolone8902 3 ай бұрын

Exactly. They threaten to leave and whine when their profits take a slight hit, layoff thousands of employees in a heart beat. However, their board and execs take home millions in bonuses. We need to tax them more and tax the wealthy

@jackjanpour8532 3 ай бұрын

Who talks to this guy? He knows nothing! 👎👎👎

@ReliableRandy 3 ай бұрын

Go ahead move you assets, move your companies, move yourself. Who cares... It helps every single poor person for Canada to be perceived as country that is not made to make rich people richer. I love how this will impact the housing market, people maybe will finally be able to own a home again. SO PLEASE MOVE ALL YOUR CAPITAL MOVE IT ALL DON"T COME BACK EITHER. SELL YOUR PROPERTIES, IT"S WHAT WE WANT

@FranklinNomad 3 ай бұрын

Nobody wants to work anymore

@abcdedfg8340 3 ай бұрын

They do, but we have people working 3 jobs and they still cannot afford rent and basic living expenses, let alone to enjoy their life. How do you think someone who is chronically burned out emotionally, and financially is supposed to be productive? So many are working harder, yet they continue to fall behind. So please stop blaming employees.

@retireddude3397 3 ай бұрын

O’Leary?!? Are you kidding me?! General criticism about PMJT being a poor mgr but NO examples. Incl rate on cap gains of 66%? As in the US Not a peep about highly anti-competitive interprov trade barriers, for instance

@endlessorbaggins8223 3 ай бұрын

Who needs examples of PMJT poor management? It is straigth in your face and you just have to look around you. Nobody needs to be lectured by being given examples of the obvious.

@retireddude3397 3 ай бұрын

Poor competitiveness? Look at how many big industries are basically monopolies. Like Bell Media. Look at the media, grocery stores, gas stations, banks, …

@shelterskelter 3 ай бұрын

Have we tried 1.3 million Uber driving Indians yet to improve it? No?

@BitcoinPumpItUp 3 ай бұрын

How troubling is it that Kevin O'Leary's viewpoints now seem rational?

@michael2275 3 ай бұрын

They always were, you just flap in the breeze like everyone else...

@ssuwandi3240 3 ай бұрын

Trudeau should legalize selling organs as nature resources

@whytho5732 3 ай бұрын

What viewpoints do you disagree with?

@rolone8902 3 ай бұрын

They are only rational to the likes of him who are well off. The rest of us know this is corporate pandering. We need to tax corporations more until they pay their fair share back into the economy by increasing wages or lowering profit expectations

@abcdedfg8340 3 ай бұрын

I heard that employees in Norway and other productive European countries also have more affordable living costs and better work life balance so people stay healthier. That may reduce chronic burnout and improve productivity which will benefit investors.

@qjsharing2408 3 ай бұрын

Norway had high taxes on the oil, saving the money and forcing the country to diversify. Alberta is now pumping more oil than before the last boom and feels economically dependent on increasing production

@joshdoddadbod 3 ай бұрын

Id guess if employers treated their workers better productivity would go up. Unfortunately bean counters obsessed with maximizing profits that can only see inside of s tiny box are running things these days. And dont get me started on the government stifling productivity and innovation.

@thecorpooration 3 ай бұрын

Agreed. I worked in the auto industry right out of university in the late 90's and I was nothing more than a body to be overworked to burnout and cost to be minimized. I needed 3 signatures to spend $35 on parts I needed to do my job (design engineer). That experience convinced me that manufacturing was a dead end.

@maryjoan4128 2 ай бұрын

Like him or not ...he is Right 👍

@mazimadu 3 ай бұрын

I love this guy! He is so based!

@Whatever249 3 ай бұрын

Justout

@Doctor_Bong 3 ай бұрын

I heard our governments are having trouble finding people to work for minimum wage. Maybe they should think about hiring Temporary Foreign Workers.

@kerryobrien8599 3 ай бұрын

Is there a magical mathematical formula for removing bad leaders ? 🙃

@saadk88 3 ай бұрын

Convenient that corporations can choose NOT to be 'people' when it comes to paying taxes

@bencreek9135 3 ай бұрын

Let's drill pump and lay pipe and fill the cpp to the ceiling!

@owlnite1557 3 ай бұрын

Mr Wonderful has a point.

@alanphillips1209 3 ай бұрын

The government does NOT want to increase productivity. I am proof. I want to work. I am a very good worker simply due to the fact I enjoy working and accomplishing and getting things done. Its fun ! But I cannot get any healthcare. I have severe sciatic nerve pain and the doctors KNOW this. That is why our doctors have prescribed opioids for me since May 2004. And since I cannot work due to the agony, you, the taxpayer, have paid for all my opioids for 20 years. Thanks but I would rather have the surgery, a fusion and be working and growing this country. Not sucking the country dry ! Oh how I wish I was out of pain and off these horrible drugs and WORKING ! ! ! How do I get adequate healthcare ? I have tried for 20 years. Canada wants to fail but I cannot understand why ?

@Two_Shoes 3 ай бұрын

I just fell in love with Kevin O'Leary...

@michael2275 3 ай бұрын

Get rid of Trudeau.

@abcdedfg8340 3 ай бұрын

Employees are people, too. So what about how they feel about this situation? Not everyone is an investor. Maybe there are other things places like norway do that also help boost productivity.

@GurloveKahlon 3 ай бұрын

How do u have jobs if investors stop investing in country. All the companies are investors, which in turn provide jobs. And most of em are leaving Canada.

@abcdedfg8340 3 ай бұрын

@@GurloveKahlon Investors also need a productive labor force. So give workers the tools they need to do their jobs, reasonable pay so they don't burn out from financial stress, and the time off they need to prevent chronic burnout from work. People still invest in German car companies, so I do not see your point. A productive labor force benefits businesses, employees, investors, and creates a strong base for future development.