Canadian Pensions Facing Financial Repression | The Loonie Hour Episode 162

[@CanadianRealEstateChannel]

Insightful discussion on how financial repression could reshape the future of Canadian pensions-great episode!

[@nathanhayhurst3212]

As someone who has saved for my retirement and my pension, i wouldn't be investing in Canada. I dont trust our politicians to not raid my retirement

[@Moneymanaginghacks]

That’s what happen when you put drama teacher as PM and TV anchor as a financial minister.

[@maximusfuscus]

Or when you don't get out and vote, because you're "busy"...

[@gmw3083]

​@@maximusfuscusvoting😂

[@kienchew5886]

I imagine in an alternate universe somewhere, Keith would be a famous comedian

[@bjm5005]

Please make a short about the CPP issue so more people will see it. If the gov forces the CPP to make poor investments with our money, that should get a vote of non-confidence.

[@yanli88866]

Jeff Booth and Greg Foss, two great Canadian guests on Bitcoin

[@Kelly-r9z]

Traffic in Halifax? The Quinnpool roundabout is scary.

[@tylerrobdavis]

Things are early and GTA is def not "rebounding" in the housing. Maybe marginally up from historic lows...but things could be getting worse, not better

[@DickNiaz26]

The problem with the GTA (vs the GVRD) is that there are a lot of "mid" suburbs. Vancouver's "mid" suburbs > Toronto's because it's actually nice to live on the west coast and avoid long commutes in WINTER weather.

[@cweber9784]

In my city edmonton. The majority of traffic problems is because they intentionally time the traffic lights so there is no traffic flow. 10 yrs ago i could travel main roads north to south east west doing 5 km hr over or under speed limit and hit almost all green lights. Now your lucky if you get 2 in a row. I presume it was a was to push people to public transit and generate more tax revenue from burning more gas.

[@gmw3083]

Many years ago. Decades. I went from St. Albert to downtown Edmonton in 11 minutes. Things change. I moved away to the hinterland.

[@ronkennedy213]

Calgary is even worse. If you want a great driving experience, go to Hamilton Ontario, east west routes, traffic lights timed perfect for easy flow.

[@MrKanimator]

mass layoffs in tech/gaming worlds

[@datruth4766]

So now that they made it so we have no home to retire to and we have to rent in our retirement, now they're gonna tank our pension too! But at least when we our homeless and broke in our old age, we will have MAID to fall back on... 😉

[@maxpayne7419]

I always took the variable rate for the 25 years I had a mortgage. It’s like dollar cost averaging. I saved a TON of money. Don’t try to time the market.

[@DickNiaz26]

This is good safe solid advice. It's all about long term averaging no? Saretsky and co always talk about esoteric stuff that really doesn't impact regular folks. (Why do we need to track the "bond market" every single week?) Spend that time away from the internet/newspapers and better skills your own career instead.

[@DustinTime101]

What's up from Sask! Don't forget we are here lol

[@KeithDickerIceCapAssetManageme]

SK!

[@KingUnKaged]

So weird that Keith talks about this like Halifax is the first city in history to grow quickly. The solutions to these issues are known. As cities grow and traffic gets worse they build higher intensity public transportation to get people off of the roads. Manhattan is a fraction the size of Halifax, but several times the population, ditto Hong Kong and many other cities, but they're not giant parking lots.

[@nickzivs]

Our town went through it. Now, every evening from basically 3:30 - 6 pm there’s gridlock on the 2-lane bidirectional main street and other connecting streets to other major streets. It’s an affluent town though, so everyone’s driving their own car and public transit barely gets used.

[@Cici1791]

It's weird that some people think everyone wants to live in Manhattan or Hong Kong.

[@buttlesschap]

@@Cici1791 Thats not the point King is making. It's not so much that you need your city to become 15m+ population filled with skycrapers to reduce traffic: It's that even with those population densities, they still have better car traffic than smaller cities in North American that are car dependant. They have invested enough into public transit and or alternatives that it is typically a way better option than owning a car. Therefore people buy less cars -> less cars on the road. You don't have to look at megacities to see this either. There are many cities in Europe and Asia that have populations of a million or less that have better transit systems and car traffic than any city in North America.

[@buttlesschap]

The sad thing is this problem was solved before: Halifax had a tram system even before the 1900s. All that got literally ripped out in favor of the automobile. Now Halifax doesn't even have a light rail metro system and people blame the "low population density" that can't support that kind of system even though the population of 50,000 back then had one. The housing crisis really starts with our car dependency issues. We have poorly planned and zoned cities that are sprawled out and lack efficient transportation options because of planning and prioritizing our cities around the car. You end up with car dependent suburbs that are not sustainable from a tax perspective going into the future because the infrastructure to support the sprawl is inefficient compared to denser forms of housing. People also spend up to 20%+ of their income on a car to get to their jobs and do basic things so they have less savings overall too.

[@handaferguson]

Great Job!!! Thank You... :-)

[@ce7190]

Inevitable QE. That's all you need to understand in Bitcoin

[@T.Cochrane]

In regards to entering and exiting the country, there has to be pretty accurate data with passports. They scan every passport entering and leaving the country, at least at airports, you would think the data would be fairly easy to extrapolate.

[@antoniogarcia4258]

I wonder if it's easy to differentiate people who are just leaving temporarily from those who aren't coming back in the scanning of passports.

[@johnnyboyvan]

Meghan Markle . A condo was up for sale here in Kits and sold in one week over price. The market is alive and well here in Vancouver, but I don't know about downtown. 😮

[@ethimself5064]

Bond bonds everywhere. Question - Why did Canada di away with the Canadian Saving Bonds - In reality.

[@Eyeonthetruth4us]

we are in a doom loop in fiat, at the end of the road, Diversify a good % out of fiat and come back in when you need to pay a bill or make a purchase.

[@DiabeticDawg]

Canadian pensions catching a Capital flight ✈️

[@raycamenzuli8746]

And those massive wind turbines are made from fiberglass, i.e. OIL.

[@dwightcarlson7136]

And I don’t believe they are easy or technically feasible to recycle

[@thanks4that261]

I'll be your bitcoin guest. Been buying since spring 2017, and put about 200 hours into learning about it. I have a master's degree in finance as well. I love your show, feel free to reach out and chat before committing to anything.

[@thanks4that261]

Interesting tidbit, I was also a professional hockey player up until 5 years ago and signed with the canucks, played 5 exhibition games with them and spent 2 years with their farm team in Winnipeg, going to the AHL finals.

[@Picklemedia]

@@thanks4that261 how much Bitcoin does the US Treasury hold?

[@thanks4that261]

​@Picklemedia about 210,000 bitcoin, right now worth about $27 billion CAD

[@Picklemedia]

@@thanks4that261 follow up question: Did they buy it?

[@donm2067]

Bitcoin is the digital fence.

[@JFK129]

To my knowledge Canada is the only country in the world that will allow people to come from other countries, never work a day in Canada and then collect OAS at 65 Then return back to their country of origin . How many millions does our pension fund lose every year Does anybody think that is fair ?

[@b-rare]

I’ve heard of this . They can come here and collect a pension without ever working a day here but they need to come with family who works like their kids . I don’t think you can just come here as a retiree and collect pension without bringing tax slaves with you lol

[@draymond5067]

No, OAS is based on years of residency

[@JFK129]

No it is not ! Check. CPP is based on years worked OAS is not. I have checked and found out you are automatically entitled to it at 65.

[@b-rare]

@@JFK129 CPP and old age pension are different . Old age security what ever

[@TheSuitness]

Not true. If you leave and don't return within 6 months they cut you off as well.

[@karlkuepper-cp3lt]

Good conversation dudes.

[@s.cabrita881]

Ask Chris curl to come on as crypto expert guest

[@JFK129]

In my opinion the banks in Canada have a responsibility to the Canadian public and economy It is not a law that just because the bank of Canada raises rates that they have to also raise their mortgage rates or conversely, lower them if the bank of Canada lowers their rates. That’s what’s happening now. if they figure they can squeeze a few extra dollars out of the Canadian public they will! in the 80s rates got so high people were walking into bank managers, offices, and dropping off their house keys. I saw this on my bank managers, desk, a pile of keys of people who walked away from their homes?

[@jakemartin2009]

You're right, it's not a law. But the bank rate is what all lending institutions pay to borrow money. If they charge less than what they pay, they'll go bankrupt. Also, they make more money when rates are low, because they can mark them up higher. When the rates are already high, consumers can only handle a slight markup before tapping out. And if you don't like how much Canadian banks are making, invest in them so that you won't have to be jealous of their profits.

[@JFK129]

@ I really don’t think it is accurate to say that Canadian banks would go bankrupt? Furthermore what’s jealously got to do with this lol. 😂

[@jakemartin2009]

@@JFK129 Mathematically, if I sell something for $1 when it cost me $2, bankruptcy is inevitable over time.

[@quixomega]

Rob Ford needs to leave cities alone. If the people are asking for bike lane's it's not his business.

[@CoconutPatel]

Did you mean Doug Ford?

[@veeo987]

Canada needs to cut corporate, income and capital gains taxes and we need to tax ownership of real estate more heavily. People need to stop investing all their money in real estate and they need to invest in productive economic sectors.

[@thejuice3819]

Still the greatest intro music in the podcast industry

[@dirtlump]

I'm just going to say it.... 'things'... are going to get one f**k of a LOT worse here in Canada for the foreseeable ! From Real Estate to the Banking/Financial System attenuations into taxation/inflation, widening regional, class,and multi-cultural polarizations and on and on.... this is just the beginning of what will feel like a depression into heightened social unrest.

[@Picklemedia]

Why will this happen do you think?

[@Casey-qm1nd]

​@@Picklemediabecause what we are experiencing is inflationary deleveraging. We are at the end of an 80 year business cycle. The lower rates will benefit the government, at the expense of higher borrowing costs for everyone else. This is how the government relieves themselves of the debt burden, by passing the costs onto the real economy.

[@maxpayne7419]

People have been saying this for 25 years

[@dirtlump]

@@Picklemedia Look around... it's already begun and will merely accelerate. Unfortunately we're like Frogs already in a Pot of water on the stove getting hotter and hotter and hotter, but we are just not noticing so much due to the slow pace of the heat increase ?... albeit now getting HOT Take yourself out and go back to your life even 7-8 years ago..... now look at the differences today.... just like taking that nice cool Frog sitting on the counter and throwing him into an already Boiling Pot of water on the Stove ? That Frog would JUMP the f**k right back out ! Just say'in here... we're too accustomed as a society to watching for 'acute' events that occur all at once like in a Holly wood Movie first 10 minutes... then we watch the hero's running around for next 1 hr 30 minutes as entertainment ? There is no 'fixing' a problem of far too much Debt .... arrived at under unprecedented period of low rates.... with the resultant financialized "assets" collateralized as now completely FALSE "chattel" valuations.... by attempting even MORE low-rate subsidized DEBT expansion unfundable within 'future' economic capacity.... very simply because the reason interest rates rose in the first place was currency "debasement" based DEBT expansion/false demand asset appreciation being collateralized in the financial system ? All than can occur will be resurgent inflation as the re-introduced accommodative Monetary Policy rate facilitates Debt instrument renewal servicing against asset deflation by pulling from 'future' currency valuations....devoid of any 'real' economic capacity growth ? as we will witness as good little frogs getting hotter and hotter on that Stove under a tanking Loonie that will be the least of our societal problems already presenting.

[@dirtlump]

@@maxpayne7419 We have indeed been 'papering over' for those same 25 years..... but appear now to have finally hit the DEBT wall ? Look around.... 'where' praytel.... is the gdi(gross domestic income) coming from for Mortgage/Consumer Debt servicing within Canada's stagnant already barely $2.05T gdp(2023)... a gdp that was being maintained by no more than a decade low rate fueled Real Estate/Consumer Debt expansion more than doubling to now $3.4T from $1.6T in 2013 where is the 'gdi' or income coming from to service/maintain the Payments on that $3.4T Debt heading into still 4.5 Million Mortgage(~500,000 Negams) renewals here through Q4/2026, ALL occurring at higher rates/payments than when initiated regardless.... AND... still maintain Canada's 68% Consumer SPENDING reliant gdp that 'gdi' is derived from as consumers reallocate to higher DEBT servicing .... all in order, to maintain the "FALSE" collaterialized Banking/Financial system "assets" now failing actual 'mark to market' price discovery and underpinning everything from Pensions/REIT's/ETF's and on and on ? WHY did you think the BoC is active in REPO every night ? GO LOOK for yourself.... but 50% of this years Federal Gov't Deficit($30 Billion) was a;lready spent back in March when Gov't Finance(Tax Payers) purchased $30B worth of already CMHC insured(Tax Payers) Big Bank Mortgage Backed Securities to get those piles of 'Poo off the REPO markets because Banks wouldn't lend to each other ....."cricketts' in media ! NADA... ZILCH... DONUT ! And here we have the BoC once again doing what ? like $16B nightly again in REPO whilst concurrently dumping rates as our Loonie has dropped 3+ cents since Sept 26th ?

[@Macinro191]

Oh god, pension funds should have autonomy, this is insane that we want personal pensions to be the regulated same as CPP

[@ethimself5064]

The Boomer got this 100% correct - 17:51. Canada does not need band aid solutions

[@quixomega]

But real solutions are hard, they'd rather just add a lane to the highway that will make the situation look better for 10 minutes rather than put in real mass transit with would solve the problem.

[@ethimself5064]

@@quixomega There are a number of various options -- Sad truth is that Politicians in general only look ahead 4 years to get reelected. Really sad

[@adama9032]

Put time stamps in please

[@MariaChavanne-f7y]

Thanks for sharing such valuable information! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?

[@ethimself5064]

Note: When the US(in general) puts tariffs in Canadian goods, would it not be a good idea for Canada to greatly not put Tariffs on US goods? Or very select and few goods if one likes? Kinda redundant to do otherwise I believe.

[@onemrandrew]

The US course correction is the best thing to come out of the US in a long time , and this will be good for the rest of the world. Cannot wait for Canada to course correct by first getting rid of the clown in power.

[@Stormshfter]

As rents continue to fall it gives the high leveraged the option to walk away and rent. Many hang on because it would cost them just as much to rent and they need to live somewhere. Rents falling isnt good for sustaining high prices on many levels.

[@jasonpepper658]

BTW years ago...Steve talked about R. Napier and Financial Repression. It seems to be here...Canadian investors will be permitted to invest in Mining? Auto? Mortgages and cleantech? Napier called it a "political economy and capitalism with Chinese characteristics". How would that translate here? Montreal to GTA need to have a good economy compared to the West and Maritimes...also the voting block that matters are women and therefore it will need to appeal to the female economy. The political narrative would have to revolve around the female economy in the Montreal to GTA region being "successful" and this relative to other regions/demographics. Often times political narratives ignore physics and what is good for the economy...if this remains true in this case then this could be a terrible time. This negative view would equate to years of wasted sunk capital or another way of saying it...wasting people's working lives and time. I hope everything I said here was wrong.

[@maxpayne7419]

I love bonds right now.

[@shanesteele778]

Many have tried to apply logic to illogical government its a hard task to accomplish

[@Mrgorr7777]

In Maui... Aloha Steve. Condos comimg up for sale here with the short term ban on the way.

[@syntaxmsi]

These Liberals can't be voted out fast enough for me. There will be nothing left of the country by the time they are gone!

[@datruth4766]

Huge gamble going into variable rate mortgages. If things go south in the economy, they need to print, and inflation rears it's ugly head again, it's over! The chances aren't even low on that; you will never sell that house, even at a stiff discount. The bond market is currently betting on this outcome.

[@maxpayne7419]

Keep in mind the current government and their direction will end in 2025. The markets are already pricing this in. The biggest threat to Canada now is the trade situation with the US (tariffs), and potentially illegal immigrants crossing our border. These are the topics you should be discussing

[@surprisek3918]

Ask the people of Romania what communism was like. They had "15 minute cities" only they were territories. You were not allow to travel to another city/part of the country without a permit/permission. And when they implemented that, if you had an uncle in another territory, you may never see them again. That WILL come here.

[@Moocowsia]

Guys, solar panels are loaded with rare earth minerals. They're concentrated ore for recycling. They're not ending up in landfills unless people like throwing away money. The UK in particular is working on some massive energy storage projects. They want to store several days worth of electricity using pumped hydroelectric in Scotland. The wind power is literally the cheapest power they can buy to use.

[@bradp2117]

So force some investment to be domestic ie pension funds. a) what if you cap the production of natural resources so a reduced investment into resources in a resource country. b) loan another 50 billion to Ukraine so basically investing in other countries by the government. I obviously do not understand how our economy works. LOL

[@nickzivs]

Simple. It doesn’t or at least hasn’t for the last decade. Have you seen CAD! Hmm what has been happening or who has been in power in Canada for near a decade? 🤔 We need this federal government out ASAP.

[@Stormshfter]

More govt regulation is never the answer.

[@jasonpepper658]

If someone had managed to get their pension money in their control; what is a great investment strategy?

[@MarcinRapa-u5p]

We'll guide you through everything you need to know and how to earn daily, weekly and monthly.

[@danielgale607]

Been buying bce I wonder if I'm right or not . Cut the divey . I'll buy more when they do

[@andrezzafalk3265]

I wish I could see you three on screen at all times, instead of highlighting who is talking. 😅

[@Picklemedia]

@19:33 there will be less cars on the road in 2030. Not more.

[@Zhe-Zhe]

Absolutely too many people. Kelowna is one of the worst places. Parksville on Vancouver Island is following that model. Condo condo condos. Single dwelling homes with yards are on water restrictions basically spring to fall, now. But they keep building. I believe it is Bermuda that does not allow anymore immigration, for years now, due to water supply. I'm sure there are others.

[@DavidYazdy-mz4qg]

Loonie hour christmas party in toronto

[@Pseudonymoniae]

You guys are hilarious. Her name is Meghan. First and last names rhyme, if that helps. It sounds like you guys need to get the Twinkie people as a sponsor so you can hire someone to google obscure facts like celebrity names live during the show!

[@bull845]

Got to conserve in water like California. Low flow shitters to build more house 😂

[@wes5977]

Steve is always selling his own book Alberta is the best economics in the country and it’s terrible the economy in every aspect is horrible

[@sonnyyeung6060]

Team Freeland should treat orange man team like rookies…

[@rp1891]

we must bail out the sheep

[@HieouyaAgnèsDoyo]

!!I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement.

[@BensonTati]

As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@ElizabethHansick]

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.

[@BensonTati]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@ElizabethHansick]

Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.

[@HieouyaAgnèsDoyo]

how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally.. What's your take on this approach? and How can i reach her, if you don't mind me asking??

[@wayneknodel3347]

I just want Alberta to pull out of the CPP, and the sooner the better.

[@garryr002]

I want the choice to leave or not.

[@quantifiablyqorrect2905]

You guys should be talking about crypto wayyyy more lol

[@neovi6424]

Ey put some respect on my boy Trump's name. It's not an accident that he's the US president and likely to go down in history as one of the most influential.

[@Illuminati300]

It’s disgusting both my parents worked their whole life. My mom gets $1600 a month from the government for old age retirement and my dad gets 1600 for all of each retirement but my dad‘s in a home and they take $1500 a month from him and my mother to payfor all his medication and whatever else it’s disgusting but immigrants get everything in anything they want

[@AquaVivaFit]

Meghan Markle lol

[@roseoverdose6451]

How do you NOT know about the Griswolds? unsubscribed and reported. jk

[@KeithDickerIceCapAssetManageme]

everyone knows the Griswolds! well, except Rich and Steve.

[@shelterskelter]

Meghan Markle. If it aint Carolyn Rogers Rich aint got time for that

[@ToBTCoT]

Maybe Keith’s avoidance of bitcoin isn’t just a lack of effort, understanding, and obligation to his clients to earnestly study what Bitcoin is, but rather it’s because either implicit or explicitly he knows that Bitcoin basically puts his profession obsolete. This is probably very triggering for him to read, but it’s the truth. Here’s a start: kzbin.info/www/bejne/an3UoXqojKyBp6csi=Eh7nNXJ37LRUY6xs

[@Picklemedia]

How much Bitcoin does the US Treasury hold?

[@KY-jb4vd]

@@Picklemedia over 200K.. and trump has committed to keeping them as the start of a US btc strategic reserve. Why?

[@Picklemedia]

@@KY-jb4vd because the US is the world Reserve currency. If they were intentionally divesting from USD it would make a stronger case for Bitcoin. How much of the US Reserve Bitcoin was purchased, and how much of it was acquired through confiscation?

[@KY-jb4vd]

@@Picklemedia I believe most if not all - so far at least - has been confiscated. But that may be changing as we go forward. Will be interesting to see how it impacts the balance sheet 3/4/5 years down the line. Has been very good for El Salvador in the past 3 years anyway!

[@donm2067]

Bitcoin is the digital fence.