What you need to know about being in a recession | About That

The R-word has been thrown around a lot, with some experts predicting that Canada could enter a recession in early 2023. Andrew Chang answers the questions you might have, like what a recession actually is and why it can be terrible to live through. He also talks to financial counsellor Jessica Moorhouse for tips on how to stay afloat through a financial storm.
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[@CatherineWilson8]

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time.

[@KevinClarke9]

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

[@ritalorrigan]

I enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $1.2million.

[@ScottArmstrong12]

Interesting! I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up.

[@ritalorrigan]

The advisor I'm in touch with is “Catherine Morrison Evans”, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use someone else. for me her strategy works hence my result. she provides entry and exit point for the securities I focus on.

[@ScottArmstrong12]

Thanks for sharing, I looked-up Catherine Morrison Evans and went over her site and she seems pretty tight so I've booked a call.

[@albacus2400BC]

Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.

[@kaylawood9053]

Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&s isa but its hard to bite the bullet and do it.

[@legacymedia8468]

@@zahairobrian671 I agree with you totally, Yes they can be positively impactful to an individual's portfolio. I started with a trust Financial Advi-ser named “Sharon Louise Count. She is verifiable, Her approach is transparent, allowing full ownership and control of my port-folio with very reasonable fees relative to my portfolio earnings.

[@legacymedia8468]

@@user-yz5fe6sb9h She covers things like investing, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that. You can take a look at her full name on the internet. She is renowned. So it shouldn't be difficult to find her official webpage, just search her full name

[@jlm4836]

Recession for the wealthy “I’ll buy a new car, build new house” DEALS For the poor “I’ll sell my car, sell my house” SURVIVE

[@esparda07]

Recession for the middle class: "I'm poor now."

[@hyperionhelios190]

Don't listen to the haters. I think this was actually quite well done Andrew. Its like getting a half hour college lecture on a topic that matters to every day people but are usually not explained well to that audience.

[@andrewe360]

bar mitzvah

[@matthewsemenuk8953]

Quick summary: Budget your $$, pay off your debts and an emergency fund will help if you lose your job or hours of work.

[@zepher664]

A lot of the time it really is that simple. Unfortunately only a minority of people actually do it.

[@FullCircleTravis]

Most people in trouble have huge debts from the lockdowns, depleted their savings, and now don't have enough hours or a job at all. Basically, being OK in a recession is basically to not experience the recession while everyone else does. Essentially, become a politician.

[@dricalins1104]

And think twice before buying your Starbucks 😂

[@svengrot7943]

Heard someone say the best season for a financial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $750k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?

[@anthonyrussell5718]

That's right! Recessions provide many opportunities for ordinary people to build wealth from scratch. However, you may need to get some professional advice from an investment adviser if you need an aggressive strategy.

[@baileymclean8186]

@@anthonyrussell5718 Recessions are where millionaires are created. After my portfolio took a huge hit in April, I was forced to enlist the services of an investment adviser who has not only racked up a $250k profit for me since then, but has also taught me how to do it.

[@louisairvin3052]

@@baileymclean8186 Can you please leave your investment adviser's information here? I heard someone talk about how a couple made $200k during this bear season. I need so much luck lol

[@baileymclean8186]

@@louisairvin3052 My advisor is “JILL MARIE CARROLL” You can look her & up to verify her services if you want.

[@cherylannesley937]

Andrew Chang, you are very good at what you do. Thank you.

[@charlespratt8663]

Buy your needs, not your wants. Pay cash as you go. Leave the credit cards for emergency use. Drop the cable subscription and go OTA with a cheap antennae. Eat rice and beans. For variety beans and rice. Do that every other day. You can eat cheap and healthy with the basics.

[@lucianoboccedi]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@anniezeng4587]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[@adenmall7596]

The stock market rally is still in force, but the major indexes, sectors and especially leading stocks are prone to reversals. I recommend you seek the guidance a broker or financial advisor.

[@selenajack2036]

@@adenmall7596 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you

[@adenmall7596]

@@selenajack2036 Personally I work with Eleanor Annette Eckhaus a registered Investment advisor. Quite renowned, search her name to get in touch.

[@africanboi4542]

Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2023 on a woodnote financially.

[@chadcowie7715]

We are in for a world of hurt. Housing costs are super high. It’s going to hurt. Homelessness way up.

[@zepher664]

"Mated an arrow with a Silverback gorilla" 🤣 that made me laugh a lot more than it probably should have.

[@hojoinhisarcher]

good job! great to have you back!

[@user-uj6sc7ls9y]

Good lord, who has $5.58 to spend on a latte every day? My guilty pleasure is my cup of tea, which costs about 15¢ a day. P.S. Loving this new show. Congrats, Andrew!

[@julielevesque2668]

45% of my income is for my shelter, 30% no choice goes right to food unless I starve so 75% gone as a necessisty...now I do need internet even basic because everything is mostly done online now, my flip phone no internet budget, apartment insurance, meds, bus pass, Netflix $10 a month and there is nothing left after....oh wait...am I supposed to be able to put some away for retirement. If I get renovicted or my apartment gets sold....in Montreal....I am looking at going to 200-250 square feet only to have the same amount of rent or spend 60% of my income to have a roof over my head. No more 1 bedrooms that are affordable now on my income so just a bachelor or studio...seems we work just as hard but we will have less quality of life.

[@nicowoodhouse717]

Thank you TEAM ANDREW! My teen boys actually watched this with me! ...couldn't believe it.

[@carpediem7654]

Don't worry guys! CBC is here to assure is that a recession is no big deal!

[@RealandOfficialDeanRaza05]

You're right always have an emergency fund or backup money.

[@ewcamaewcama]

It’s very simple. Don’t spend more than you earn. So cut up your credit cards, don’t upgrade to iPhone 14, don’t buy 65’ Oled tv, no Tesla, no iMac. Just concentrate on needs, not wants!

[@Science-bi8dp]

Take it from a dad of 4kids who lost his employment throughout covid. Regained it by working for PHAC to only be fired again. All while my kids were constantly sick and dying grandfather I removed from an old age home and had him move in with me. I bought a new house right as covid started. Cared for him until he died. Got divorced. Settled my divorce monetarily and custody with my x wife. And I have ZERO credit debt after paying 75k in debt 5years ago. I now have a tiny mortgage and I live in a castle with my kids. I don't buy nic nacs and iPhones. My fridge has enough food and my pantry is stocked. We have to wake up as consumers and taxpayers and stop listening to everyone else and ask yourself- what does your gut tell you? Listen to yourself

[@pingon55555]

Confused about the time frame? The way you worded it sounded like this all happen during Covid yet you paid for everything 5 years ago? Did you mean to say that because you became debt free 5 years ago you were able to go through all those issues during Covid without any major difficulties?

[@abababababababab1985]

Very well done thank you

[@ninemoonplanet]

It's amazing how many people are too quick to blame others for the situation. Did anyone FORCE anyone to go into debt, buy things they use once and forget? No. The responsibility for the financial wellbeing is the person who spends that money, nobody else. I went through 21% interest and stagnation where jobs were hard to get and costs kept rising. Obviously I made it through. The one thing I learned very quickly is I needed to understand interest on debt and what I actually needed, not wanted.

[@qjsharing2408]

We borrow for nearly all consumption and then get rewarded with 'points' bought with our own money. The increasing debt loads are from systemic forces more than from dumb purchases. Money is created from borrowing, which is why we're in the late stage of a long-term debt cycle.

[@CraftyShawn]

Thanks for breaking it down

[@brucegandier4620]

Awesome presentation / interview with Jessica on this topic Andrew: thanks! Clear, concise and explained in a way we can All understand!

[@GG-vq6ro]

You have trouble understanding things unless they're explained to you like a child?

[@badcad641]

@@GG-vq6ro I was just thinking that. Not insulting but wtf! My 8 year old would roll her eyes.

[@chick1800]

thank you. i need this info

[@Royan1900]

His programs are very informative and easy to follow and watch 👍👍

[@jfxcanadajeffchannel]

Fantastic Breakdown! I loved your breakdown. Thank you! My lil nieces and nephew both now understand GDP.

[@laluzdetusojos9587]

Very good program

[@Keepasking123]

Great job, Andrew! You’re very easy to listen and watch.

[@AlHarji-RealEstateToronto]

Thank you Andrew for the new series and format. Your insights and reporting are appreciated

[@kamenidriss]

This program is actually quite informative, not bad :)

[@Ottee2]

I realize that it's not possible for everyone, but if you can, *Stop Playing The Game* . The game is obtaining credit and going into debt. Stop it ! Just stop, now ! Save your money, then pay for things with YOUR money. In addition to having a savings account (or fund), like Jessica said, it's important to set up another separate fund for emergencies. Build the emergency fund up slowly until you have enough in it to get you through any rough patches. Otherwise, do not ever touch this emergency fund.

[@martinrev8487]

Great intro to the topic. I'm really looking forward to the episode when you cover an inflationary depression.

[@elena2125]

Fantastic presentation just be mindful of what you spend. Don't over spend, save and pay your debts . And how about seniors, the disabled, and minimum wage earners with prices for almost everything going threw the roof.

[@1stSchoolofLife]

Thank you for this. It is very timely for me personally. Looking forward to the next one on investing!

[@JJs_playground]

This was very well made, especially since it has to appeal to a wide audience. Not sure why the hate by so many people.

[@annalee5751]

Maybe its because its state media that cant support themselves and loot taxpayers, continue to loot taxpayers and should have been doing vids like this when Justin said he does not care about monetary policy, or Freeland bragged about our "robust credit rating" and "Money has never been so cheap". You have the memory of a golf fish, then wonder why we are at where we are at. State media on welfare is 2 years late and your wondering why people that bought this summer will be stuck with min $1000 per month more upon renewal are upset? Oh, mom's basement Jameely?

[@georgiejackpot9540]

CBC classic quality diagrams.

[@solas5837]

I love this series!!!! And Andrew is so great!

[@Peterl4290]

My main concern is how to survive all of these financial and political crisis, especially in light of the US political power struggle.

[@larrypaul-cw9nk]

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

[@Mrshuster]

The stock market rally is still in force, but the major indexes, sectors and especially leading stocks are prone to reversals. I recommend you seek the guidance a broker or financial advisor.

[@sabastinenoah]

Interesting! I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up.

[@Mrshuster]

Her name is “Vivian Carol Gioia'' can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@sabastinenoah]

Thanks for sharing, I looked-up VIVIAN and went over her site and she seems pretty tight so I've booked a call.

[@604h22a]

Great show

[@lyndanickerson1373]

It's hard to create an emergency fund when you are on a disability. Every penny counts.

[@winstonwinston3487]

Good presentation !!

[@mirjanan.1963]

Great video to start a day with, thank you Andrew.

[@awilliams4957]

He such a good looking man,it's been a pleasure watching the news with him through the years.He has a nice voice to listen to,Ian is great also.A great news team ,like his voice too.

[@facepainting100]

So true

[@ariaafghan22]

I think we are in recession right now. We have been in recession for a couple of months. However, the question is if depression is gonna happen. The way things are unfolding, depression is inevitable.

[@MHdollrevievs]

An economic depression like the Great Depression 1929-1939 was actually just a never ending economic recession. Of course the governments at that time made it worse by jacking up interest rates.

[@Aquarius61]

Nicely done

[@donnatrudeau889]

The problem is , not everything is counted in the GDP. Some Economists argue that a large part of the Canadian economy is NOT counted in the GDP. Canada's GDP includes goods and services produced by Canadian and foreign-owned corporations inside Canada, but it does not include goods and services produced by Canadian corporations outside Canada. Also it does not include the underground economy, ie, economic activity in the second hand, barter and other markets.

[@jasseyjefferr7787]

Over my 50 years on the planet I've never heard a government say "we're in a recession" only after we've exited it.

[@annalee5751]

Ya, we've been in it for a while. Pierre was warning a couple years ago but as all as Freeland would say it, "Canada has a robust credit rating", and here we are, fah/ked.

[@Pressplay_Media_EU]

@@annalee5751 well said, both of ya.. I feel like we're not even really a country, and could fall apart

[@screugneugneu1]

You need to know that it could be avoided if the government was not wasting our society ressources

[@DanielMoralesD]

Great insight into finances and what can be done in a proactive way for when it rains. Thank you for the content!

[@williamwebb2361]

Love Andrew's new Show! Miss him on The National but I love his new casual format!

[@ivaoh9425]

One thing regarding your last comment, I think I would be better if we express that in terms of future coup of late, because certainly after 15 o 30 years late will be so much expensive than 5 dlls

[@MsMalgre]

This was a really great presentation love Andrew breaking things down for everyone to better understand. I think young people need to get reconnected with these concepts rather than ignore them because they find them overwhelming. That said, I do question how we end up in a recession as it relates to the GDP. For example, they say if companies aren’t bringing in as much revenue, that can affect/incite a recession: however they’re also telling us to cut back. So, in a way are we forced into a cycle of perpetuating the recession by quitting /stopping all the things we normally buy/contribute to the economy? (such as takeout haircuts investing and purchases etc).The diabolical loop the general public is placed in because of greed from the one percent is unbelievable and not sustainable. It’s infuriating. And we’re taxed WAY higher than then rich elite. It’s so disgusting that I think the general public is eventually going to turn and protest will be had.

[@moniquecm1144]

❤️thank you my friend ❤️knowing ❤️

[@Butterfly-rd4je]

Credit cards should be less 15% for all Canadians or in general

[@zepher664]

If you pay it off on time, every time, then the interest rate is 0%.

[@shangtiwu]

Test future space or house quarter block

[@joesphcu8975]

In my opinion, the remedy to weather this recession and high inflation is short-term trading, as opposed to long-term, most folks using these techniques are netting a ton of gains, sure the risks are higher but yet again isn't the current market equally as risky?

[@alexyoung3126]

well the top players and pros have exclusive information and data trajectory that isn't disclosed to the public, knowing the strategies to apply in this time is one thing and having the right info to successfully pull it off is just another.

[@Alex__palumbo]

Cup of Coffee example is fab and should be taught at the Elementary School level

[@shangtiwu]

Pump limit possibility design

[@mxdwatchin]

At the end, Andrew, the value, is actually, the opportunity cost (the loss of potential gain from other alternatives when one alternative is chosen), the use of money to buy coffee v. investing that money at 6%.

[@woltews]

the problem with budgeting is it assumes a predictable income and predictable expenses - many of use have those things as variables, not fixed ! if your income varies by over 70% month to month and there are many impossible to predict expenses, it is not possible to budget ( think you get most of your income from Tips or commission and you have a lot of expenses that you can not predict like vehicle maint , out of pocket drug costs and energy costs ) .

[@michelleh4717]

you can definitely budget, but not the same way as people with a regular income. long story short, you need to estimate your essential expenses averaged out and see what minimum income is needed. whenever you make more than that minimum income you should not touch that to cover for the months when you make less. for the rest, sinking funds for cars and an emergency fund will help plan for the rest

[@woltews]

@@michelleh4717 the problem is the expenses are also extremely variable ( think SD exceeding the average at every scale for both expenses and income ) . At best all that can be dun is in each individual month if for that particular month income exceeds expenses then whatever is left over can be saved , but this make any sort of investment impossible ( and inflation can destroy any bank savings you have making even saving a bad option ) . IE Month/ income /exp 1/3200/1500 2/0/1000 3/800/ 10 000 4/5500/ 250 5/2100/ 3200 6/0/2000 this never stabilizes at any point

[@DJStKittz]

You know what is funny. Is I run an electronic repair shop and I have found NOBODY willing to reduce spending. I find it funny actually. Way to often will I give a quote to fix a 2yr old tv for say $100/$150 and the answer I get all to often is "Ohh the tv is 2-3yrs old. I can buy one cheap at Walmart of Amazon for $400-$500..." Ok, so am I biased as a business owner or is buying a cheap no name tv for $500 wasting money, when your old tv is fixable for $150??? Bottomline North American society has become spoiled toddlers who just have to have instant gratification and buy now / pay never...... I can say as a kid repair shops - electronics / vacuum, etc was common practice. My parents had the same appliances for 25yrs. Now, people say "ohh its 5yrs old.... Nobody values the items they buy anymore. Everyone is happy buying cheap garbage on credit instead of saving and having value in better or even less items.

[@charlespratt8663]

Unlike your hosts skip the fancy coffee. Why pay $5.00 for 30 cents worth of beans.

[@joyaustin6581]

If you have debt, you can’t afford the fancy coffee

[@zepher664]

Once you finally have some money, and no debt, spending $5 on a coffee once in a while doesn't effect your finances in the slightest. It's when that kind of spending becomes a habit that it can really start costing you, which is why it is so important to record and track all of your finances.

[@Ottee2]

@@zepher664 Yes, keeping track of your monthly expenses can be an eye opener. As for the coffee example, I realized that if I bought a moderately priced espresso machine for the home, AND stopped going to Tim Horton's everyday for that double/double, it would pay for itself within three months.

[@Bleebleeblahblahblah]

Good. Im all ears. CBC is about to explain why recessions are good for you the voter! Thank goodness our statebacked media is here to shed some unbiased light.

[@GAFA-dc3en]

Too many taxes and deductions on every paystubs, many are mandatory, u can't fight it. The system here is designed to ensure you can't save much, and human nature is complacent too, makes us lazy and put off things. Although, austerity measures at home can be done. Downgrade your cell/internet plans, go to basics, drive out less and do not waste on junk food or pizzas or burgers. Cook and eat at home and don't waste food. Also, DECREASE your food intake, get healthy, you can make MORE green tea with few leaves rather than coffee/tea. Cut your own hair with a hair trimmer unit. Degrade your cell plans to basic, unhook yourself from data plans. Use the library to get books free to read and then return em Maybe try to get a job on your OFF days, and make some extrra cash. Drive less and stay off the roads unless absolutely necessary..... USE DEBIT and payoff your creditcards each month, stop paying interest!! Only spend LESS than what you MAKE. Do not spend or buy stuff just bcaz you have a credit card!

[@shangtiwu]

That beauty that is dune greener industry

[@suzannewheat9607]

I have been a lifelong cheapskate and by that I mean avoiding unnecessary expenses. I have not eaten in a restaurant for the last 10 years and I use clothes until I can personally declare that an item is no longer fit for purpose. I've never quit a job until I have one lined up. I use public transportation: Auto insurance, auto maintenance and repair are no longer an issue. If not possible work as close as possible to your job. Don't have kids until you have a cushion in case of job loss and don't buy stuff advertised on TV because they mostly don't work anyway. One good Japanese chef's knife does all jobs. Finally: save, save save. Because you never know what may happen.

[@harleyfdxc]

And never enjoy the fruit's of your labour.

[@suzannewheat9607]

@@harleyfdxc I did the above and saved $100K over 13 years and retired at 58. when I do drive it's a 1996 Toyota Tercel. My mechanic told me it has the best transmission he's ever seen. I moved from an expensive state. I'm 76 now. I think that working minimum wage jobs as a young person really influenced my choices. I still pick up pennies on the sidewalk. I consider myself to be a very lucky survivor after spending too many years doing stuff for money that I didn't really want to do. I figure that most of us have to do that. I wish you well.

[@patriciarobinson6081]

It depends what career you are in for example the public sector or the private sector. The private sector have a tendency to loose jobs than the public sector because it under the government.

[@Trudeautthebestt]

Taxes are way too high in. Canada . Taxes should come down to help people

[@mxdwatchin]

Government spending also needs to come down, or else, we're just passing debt along to future generations (children).

[@rps1689]

This is what happens when too much of the tax burden on the middle class salaried and hourly workers; not on executive payroll. Basically an economy the bleeds the bottom continually to sustain growth at the top.

[@rps1689]

@@mxdwatchinThat won't help much if government keeps socializing the losses and failures of big corporations while they continue to price gouge In an economy of monopolistic outfits that distort the consumers' perceptions of value. As for federal debt, it is more of a form of quasi-money in circulation than that of a form of debt; and a government, unlike a household, can roll over its debt indefinitely and maturing debt can be replaced with newly issued debt that never needs to ever be “paid back”. This is how the government always pays it bills on time, can’t go bankrupt, and can pay for mega projects, infrastructure, and restructuring to name few, as taxes collected for hundreds of years could never pay for them. How future generation pays for this is by seeing their earnings devalued.

[@mgalvez8219]

Where do I invest with 6% interest?

[@zombieowen]

What if rent is 65% of your income?

[@flightsimulatorguy7668]

When I look at my bank account I see a recession, but when I look at malls and restaurants jam packed with people I think “what recession?!”

[@rps1689]

What I see is hardly anyone carrying packages or bags in mall, but look pretty well fed.

[@henrymiranda3564]

my first job in 80 is minimun wage $8 for hours

[@qjsharing2408]

Um, that's the definition of a technical recession. Not the technical definition of a recession.

[@qjsharing2408]

Also, your spending is my paycheque. Any debt you took on before the recession is money that you need to pull out of the economy *during* the recession.

[@letstalkbig8240]

So, the two years people spent staying home getting paid, there was no money in circulation. People weren't shopping. People weren't going to the barbershop. People weren't eating out. Government printing money gave it away like it was free, and everybody was like yeah yeah Justin is doing a good job.""" Now we are paying the price of the locking down economy for 2 years

[@jasseyjefferr7787]

and i quote "we're going into debt so YOU don't have too"

[@annalee5751]

@@jasseyjefferr7787 🤣🤣🤣 Your killing me bruh. Liken to being a bus driver going off the bridge claiming you'll go first, but the only one with the airbag.

[@denaross]

Trying to understand…….you indicate many folks were at home getting money from the government but not spending it? If this is the case, they should have some set aside for helping to cover costs during the recession…..?

[@rickhadfield1097]

Thanks for this mess Justinflation!

[@anikomiles4260]

Yes. and the ones reponsible for lockdowns all knew about it, in advance too

[@adaptercrash]

It's a continuous thing as you can see by this big red arrow

[@AS-cx1ik]

18:00 size matters...inappropriate for CBC

[@sindobrandnew]

0:44 Yeah but prices goes UP.

[@zepher664]

Prices of goods and services go up, but the price of equities goes down. If you have money for investing, there is no better time to buy than during a recession when everything is on sale. So long as you are able to ride it out without being forced to sell.

[@veronicaszczecina5443]

Loved the perspective at the end regarding the cup of coffee. Interesting to think about how something as simple as saving that $5 a day could turn into a sizable fortune in the long run.

[@esparda07]

Remember that someone got paid to draw that red downward arrow instead of doing it in a computer in 2 mins. That is not a balloon Andrew lol.

[@Science-bi8dp]

Unfortunately bonds are backed by the fact taxpayers pay their taxes. So ironically if you lower taxes you would crash the bond market

[@annalee5751]

Bro. You cant talk that that. Its the CBC. They think 2+2 is 5 and if you think your the other gender you are. They think that anyone with white skin is from Briton, has a musket and owes reparations. Ya, that Tiff guy tried to say they are not printing money, they are just buying bonds after announcing they are buying up bonds making the bond prices spike that the Banksters won and the tax payers are losing on.

[@burntearth85]

Isn't that what happened in the UK?

[@annalee5751]

@@burntearth85 Nope. They announced a huge unfunded tax break. Bond buying is secretive where only the big banks and elites are invited to sell bonds back to the gov that instantly raises the price. Basically a bank bailout funded by the taxpayer that backs the BoC coupled with the inflation we are experiencing. Over the last couple of years the banks have broken records on the backs of us little people.

[@gdimask]

9:12 well... not everyone wants to be Pennywise.. he's scary D: Side note, this is also taught by Dave Ramsey. :)

[@ali1431]

Tiff Macklem should be arrested for promising low rates for a long time.

[@user-ky8je2qj3z]

Let's just keep talking about inflation and recession and how you figuratively have to manage your breathing to not suffocate; but ignore the 800lbs gorillas sitting on your chest puffing cigars.

[@ecocentrichomestead6783]

Make more money. You make more money, you spend more money. And it's not your fault. The more money in circulation, the higher the inflation rate. The more people are willing to work, the more wages stagnate. Any economy will always balance out with few rich, many poor and 1/4 with just enough to be comfortable. With everyone fighting for more more more, that state will never change.

[@rps1689]

Also many spend more than they have to an not realize it due to corrupt corporate price gouging and accounting schemes and gimmicks that allow them to manufacture overhead that actually doesn’t exist hence distorting the consumers’ perception of value.

[@shangtiwu]

Might like reservoir methanol ecologic

[@lizliz4186]

50% for housing..... I guess this isn't a help piece for those who make less than 60k and this is useless to anyone making anywhere near minimum wage. Census data shows the median wage in Canada less than 60k Yikes.

[@henrymiranda3564]

i pass two reseccion, plus tha one is not isy

[@karinaclark6888]

Count those lattes they can add up. $$$$

[@Science-bi8dp]

DO NOT KITE DEBT WITH BALANCE TRANSFERS balance transfers have expiry dates where interest rises significantly. Also if you have credit purchases. Those payments will not go to your credit purchases first your payments go to a balance transfer Pay your rent pay your mortgage Unsecured debt you can sleep soundly. The worst is really really really bad credit. But at least you have a roof over your head and food in your belly. This is if you are in absolute debt and on the edge of bankruptcy. Do not pay your unsecured debt. Just make sure you have a roof over your head. That's more important than paying a credit card back. They have a lot of money 💸

[@jean-bernardjoly5920]

Alberta oil swings the cdn gdp a lot with just crude oil barrel price ...

[@anneonnamouse5496]

Alberta doesn't need the rest of Canada, the east wants that oil money though

[@noiseshapes]

Nothing grows forever, and yet economists and politicians will try to convince you that the economy will and should. Oh and nowadays it's green growth too. And where is that continuous growth going if our salaries have been stagnant? But of course, in a recession these same people with stagnant salaries are loosing their jobs because profits have to be made at the top.

[@rishi505]

Worse time of Canada 🇨🇦 Justin T is responsible for it

[@RoboticDragon]

Nobody has 1500 bucks sitting around to just invest, unless they are already well off and dont need to worry about that anyway. Its such a joke hearing people talk about "Just invest this tiny amount and boom", if they could, they would already be rich and be worried about money.

[@rps1689]

For many that is the case, but if you could manage to put about 4 dollars aside a day, you'll have about 1500 bucks in a year.

[@shangtiwu]

History cycle economy war up and down similar

[@shangtiwu]

Gives them amendes no theft hook mails sales project law

[@zeusvalentine3638]

I think we have been in a recession for the better part of a year

[@abubakardaudyut]

Your channel has truly changed my life. i've been studying and researching about crypto for a while now, do to the economy crisis and i got stuck at some point on the learning curve. now i can say I'm truly improving my understanding of this whole new world and making great profit weekly, all thanks to Mrs Sophia

[@ASADWORLDITIS]

Believe none of what you hear, and only half of what you see, words to live by these days!

[@shangtiwu]

College graduate mention fair trade classic commerce hec cases Norton Harvard Arrest Ithq no waste calorie culprit