Inflation Drops Ahead of Bank of Canada Meeting - The Loonie Hour Episode 137

[@nicolasbenson009]

With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?

[@tatianastarcic]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@Michaelparker12]

Would you be willing to suggest a trusted advisor you've worked with?

[@tatianastarcic]

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@BridgetMiller-]

excellent share, just confirmed her page online after inputting her full name on my browser, she seems valid. very much appreciate it.

[@BridgetMiller-]

I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Melissa up and send her a message. You've truly motivated me. God's blessings on you.

[@rachelk8368]

78% increase in food bank usage… what percent of usage is Canadian citizens vs international students, temporary foreign workers and PRs who just came to Canada. There is a direct relationship between the increase of population and who we brought in with the increase of food bank use…. And crime

[@TimBer-y3y]

Exactly, more Indians making minimum wage at tim hortons = more food bank usage

[@headab9027]

I volunteer at a food bank -- mostly people born here. Maybe food and shelter is just too damn expensive.

[@latitude48design]

I agree with you argument about the AirBNB law, given that some properties just don't make sense as long term rentals, however, that's the issue with blanket policy. Here's the other side of the argument for you. We tried moving to Penticton last summer and were unable to find any long term pet friendly rental, so we had to rent a one bedroom suite for my wife so she could start her medical residency while I stayed out of town. The rental situation was so bad, the landlords extended family had to move in with them because they couldn't find any long term housing. So at that point my wife needed to contend with four children and 9 people above her making noise while she's pulling ER shifts throughout the night and getting zero sleep, while pregnant. At best, we could find only non pet friendly accommodations from October to May. Searching for any accommodation for July 1st in that town is near impossible unless you go week to week with AirBNB. Fast forward to now, and we're listing our house to move to Penticton again. There's generally 2-3 suitable rental options for us if we don't find a house, a substantial improvement over last year, but still highly competitive. Also, non-compliant AirBNB listings are popping up for sale all over MLS every day, so you have a ton of affordable new duplexes and townhouses flooding the market and driving down prices. A huge win for young families, in my opinion. Although I am supportive of property owner rights, there's clearly a line we crossed. We need to start building communities and not investments, and I think Bill 44 will help out in that manner. I couldn't imagine being 17 again and starting off on your own for the first time in this environment.

[@lucpro9181]

There's no work life balance in Canada it sounds like, everybody is grinding away

[@latitude48design]

@@lucpro9181 I think if you're an individual making over $150k a year, you'll be fine, as that's a comfortable living wage. Anything less than that and you better have some generational wealth/inheritance coming your way. Unfortunately, the average family income in BC is $100k, which is near the real poverty line, in my opinion. Frankly, we'll see a massive push for social housing over the coming decades. There's simply no other way to fill in the gap for affordable housing. Bill 44 will create more units over the years, however, with the cost of construction, labour, taxes, and permits, nothing will be affordable to the average income earner. Wage inflation for tradespeople is already embedded in the economy, and with fewer young people moving in the trades, coupled with the lack of innovation in the industry, there's little you can do to drive down the cost of construction. We would need a full housing meltdown to reset things.

[@ChrisGerow]

RE: AIRBNB, If you ever lived next door to an airbnb you would understand the objection. Its like living next to a hotel without caretakers, security, or rules of any kind. It sucks to buy a house in a residential neighbour only to later end up next to a poorly run business. This is my life now. Picking up trash, strange men coming and going at all hours, using my front yard for their dogs. Good riddance to airbnb!

[@jodikeil1]

Thanks for addressing the flaws with food inflation. My mom friends and I see the difference between official numbers and our grocery bills. We’re not nuts. They do not match.

[@donm2067]

John Williams shadow stats is superior to the guy they use

[@tanmani4040]

Ok. Little bit of fact checking and nuance adding 1) BC Airbnb doesn't apply to small communities of less than 10,000 people. Communities can opt in even if they are smaller than that if they want to for the ban. Local governments can also apply to be exempt from it if they have a vacancy rate of 3% or more for more than 2 years. 2) OECD carbon emission rates are dropping. The way that is measured is that if we buy an item built in China we aren't held responsible for the carbon emissions for making it China is. Rich countries aren't really manufacturing a whole bunch of things today. 3) So the population growth rate for the first 4 months of the year by Stats Can is over 400,000 which is 50% over last year and 4 times the 15 year average. Except that isn't true. They do that by projections of the Labour Force Survey combined with the Quarterly Demographic Update which is released every 3 month for the 3 months before. Because of how crazy immigration has been the projections are all screwed. We'll have actual immigration numbers in the end of June for the first three months. 4) The second generation citizenship rule is being forced by the supreme court. The Liberal Government might not be that sharpest tools in the shed but even they are not stupid enough to pass this law right now if they didn't have to. By providing stats without taking into the context behind them you are basically acting like Chrystia Freeland tweeting about inflation last year. When you guys are analysing policies and what is going on in the market I would love to hear more about what the ramifications will be 20 years or 50 years down the line. I'm alright sacrificing the present for the future. Not the other way around.

[@TimBer-y3y]

You sound like a liberal

[@HardKnocks-pi7pc]

Sounds reasonable to me and im not a liberal

[@mediaburn2]

Great summary!

[@brianwijay9460]

Thanks for the detailed comment

[@ronclarke154]

You guys are the best Few media/podcasts have the flavour of honesty and knowledge probabilities

[@jbay088]

I'm glad that Keith finally mentioned the correct annualized inflation formula! Multiplying by 12 is a good approximation, but raising to the power of 12 is the right way to do it.

[@raymondspencer3332]

Funny story. I am Canadian and haved lived in Japan for the last 30 years. I hold Canadian real estate that I bought when it costs me 80 yen to buy one Loonie. Now it costs me 115 yen. So I am up 44% on the exchange rate alone or from my perspective I have not lost my purchasing power here in Japan. Yes value of yen as dropped precipitously and glad I have my Canadian real estate as I am paid in monopoly money here.

[@briankilohstockpimp]

Great episode. Rich’s comments on Canadian Govt policy is on point. Tax policy is total chaos in Canada now. Generational damage to economy.

[@roseoverdose6451]

thanks for the video guys. good show.

[@dr.indeanadegraff6929]

I'm glad they are restricting airbnb.If these people own million dollar homes they don't need airbnb anyway. If they need the cash sell the house then

[@ladyjade6446]

Don’t be jealous.

[@dr.indeanadegraff6929]

@@ladyjade6446 Jealous? Not. Also I can be what I want. Don't be judgemental.

[@roseoverdose6451]

steve, there are province AND municipality regulations on AirBnB. you have to follow both... and some municipalities are not even allowing bedroom rentals, or they have capped them.

[@donm2067]

It's because they are a strain on the community. Everyone is turning rental stock into them, and small communities are suffering huge. I am watching it.

[@Casey-qm1nd]

The problem about cutting now is that we don't have restrictive enough rates. The rates are still lower than the real rate of inflation so it would be lunacy to cut now. This is why cuts would be politically unpopular. Voters will want fiscal responsiblity going forward or else they will keep on seeing their purchasing power eroded away. We have no technical recession and the longterm avg for unemployment is 8%. Save the cuts for when they are needed. Just because the rates look restrictive on paper doesn't means it is in reality. We put too much weight in the CPI data. Steve calls the unemployment numbers the random number generator yet what do you call the CPI numbers? Or do you like the data that favour's your biases? Sorry if that comes off as rude, not trying to be! Good point about shrinkflation Rich. A couple years ago they lowered the weighting of food in the CPI basket. This was before all the outrage against grocery stores too. They keep changing the measurements to manipulate the data in their favour, but consumers still feel it in their pockets. I like Rich because he is for the people and wants what is best for the middle class. Almost seems like steve is on side of banks and government, anti-middle class.

[@ElohorB]

Thanks for the great analysis! We do want fiscal responsibility moving forward. The way we printed $$ back in 2020 there is no need for rate cuts for a few years.

[@The4.0Guy]

Its a nice idea but i don't think most people understand the economics like you do and just want their mortgage rate to go down. I don't think a rate cut would be politically unpopular at all unfortunately.

[@Casey-qm1nd]

@@The4.0Guy you could right tbh. It may take another round of cuts being walked back as inflation rebounds again before people start to realize.

[@dirtlump]

Always going to be a few collateral damages in any much needed GOOD policy like the AirBnB ban..... the fact remains the current ban except for those who also reside in the AirBnB was a much needed bang on piece of legislation in BC !

[@TimBer-y3y]

That’s bananas. Good luck traveling bc with a family now. Children and hotels don’t work

[@donm2067]

​@@TimBer-y3yyes they do. I got 2 turdlers and we stay at hotels frequently. The hotels are cheaper and generally have pools

[@dirtlump]

@@TimBer-y3y Why don't Hotels and children work ? if you can't control your children, nor enjoy spending time with them you maybe shouldn't have propagated ? Ever here of a Tent ?

[@trevorpatrick2616]

Well, they could just reach out to you directly or vice versa and arrange a stay outside the “system.” It became a problem because more people knew about it and were doing it. The more people, the more problems. Think of it as akin to finding a nice secluded beach that no one knows about. As soon as it’s known about it loses its charm.

[@handaferguson]

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

[@jtome84-91]

I think something like 30% of all the wineries in the Okanogan are currently for sale

[@dirtlump]

Climate Change is quickly becoming a factor into the future as well

[@jtome84-91]

@@dirtlump hahaha yeah sure climate change 😂 keep sniffing you might smell something

[@q7zjdwomfvkbj74]

​geoengineered weather @@dirtlump

[@donm2067]

​@@dirtlumpyou understand the climate is always changing right?

[@dirtlump]

@@donm2067 And do YOU understand the Climate has always changed over THOUSANDS of Years right ? NOT 100 or 150 years ? But what's a few zero's when you're Mathematically challenged right Don ?

[@fromabove9774]

As much as my mortgage would like to see cuts, I bet on none coming not even in the fall. I would imagine that reality will hit very hard. It’s not just inflation but the amount of debt outstanding that is actually spooking the BoC. They want to ease but can’t risk reigniting anything…and still 17 more months of Trudeau remain; the ship is still floating but the cracks can be seen a mile away.

[@kZod]

Great episode boys! So I moved from a developing country back in 2005. Back home to this day, McDonalds-KFC-Pizzahut are considered restaurants where the "rich" go. Guess if you go to McDonald's here, financially you are doing great, coz you have no issue paying for $5 medium fries. Soon we will tax those Rich McDonald's going folks! lol

[@HardKnocks-pi7pc]

Inflation in real estate was about 13 percent a year in the GTA and GVA over the last 15 years its just the actual price of the house is not part of the inflation calculation. If the price was part of the calculation rates would have needed to be raised ages ago to a proper neutral rate of about 3 percent and housing wouldnt have increased 240 plus percent when ot should have only risen 75 to 90 percent in that same time period. Its unreal how much debt everyone is in because they thought there home was worth all this money. These Helocs should be banned or capped at 40 percent of equity.

[@jaymar1615]

Yes HELOCS are the problem when they just started handing them out with no questions everything went to hell...shouldn't be allowed to borrow to finance a rental home...back in the day you had to prove what reno ypu were doing g with the heloc $$ provide a construction plan with a pre appraisal and a contractors estimate and a. Appraisal on how much the reno will add to the homes price...

[@macelheron]

Excellent episode, guys. Please keep up the good work. Your efforts are appreciated!!

[@jamesfortin6000]

Yeah, I have to wonder if a blanket ban on air bnb and or vrbo would actually be better for the general housing situation in the long term. Because we need to make investment in the kind of housing needed more attractive and if the only tool is banning short term rental then so be it. It’s going to take 20-50 years to bring housing back to affordability without cratering the economy so starting with people’s 2nd homes makes sense to me

[@jbay088]

Steve, the BC short-term rental legislation does not apply to small remote communities. There are exempt tourism areas, which also includes any communities less than 10,000 people. If you're going to tell it like it is, please tell it like it actually is. You said straight-up it's "blanket" "province-wide" "which will ultimately hurt tourist, remote towns", and that's just factually incorrect. The legislation is not as ham-fisted as you suggest, and your co-hosts are taking your word for it. If your Okanagan lake AirBNB got cancelled, maybe that community also has more of a housing crisis than you think.

[@rastislavvelkamorava1624]

@@DrMarkyMark Invest in Hotels instead.

[@jbay088]

@@DrMarkyMark How much housing was really being new-built for the purpose of short-term rental? I'm expecting a boom in hotel construction to address that market.

[@jbay088]

@@DrMarkyMark You'd invest because the demand is huge and growing, and there's money to be made. Just not in short-term rentals in populated areas. If you're against it that's fine; my point is that Steve should present it accurately while doing so. If his concern is tourism in remote communities, it would be worth him mentioning to his audience that the legislation does have carve-outs for that, and if he views them as insufficient, he can explain why.

[@CAF-ju1ui]

And also be informed some places are exempt based on long term vacancy rates !! If vacancy is higher some of those communities are exempt from this . And surprised that you don’t discuss the percentage of investors that ran housing prices up, which ran long term rates up. There is an affordability crisis with housing and rental costs and the huge jump in investors and speculators contributed to this over the past decade !!

[@kqh123]

@@DrMarkyMark RR? Rick Rule?

[@andrewb5412]

It took 11 months of inflation over 3 percent for them to even raise intrest rates

[@blackstonecontracting5324]

Not sure what type of individuals Canada is immigrating but we (myself) haven't seen any new Canadian's entering the trades of heavy equipment industries (excavators or skid steer) so i ask, why are we so afraid of immigration as there still lots of jobs that aren't being filled

[@BogdanRotman]

The price level is up 25% in 4 years. Wages are NOT NOT NOT up 25% in the last 4 years for 95% of all people. In addition even if you have received let say a 15% wage increase over that same period that is pretax of which you lose 30-40% to taxes! So say 25% price level increase and a 10% aftertax rise in income. ARE YOU BETTER OFF THAN YOU WERE 4 YEARS AGO?

[@michaelcorey9890]

Sad to hear about the wineries 😢, and the Harvest. Going to Penticton from Calgary twice this summer with the camper.

[@mikeszymanski1413]

The number of Airbnb units that will hit the market and effect market values is very localized. The difference from a market like Vancouver to a market like Victoria is substantial.

[@Lifeisapartydresslikeit]

2.7 CPI is still too high for BOC to drop rates. Tiff will want to see 2.3 to 2.4% to drop rates. I think he will cut rates in the fall

[@HardKnocks-pi7pc]

Macklem said he needed to several months of downward pressure on rates before cutting. March Inflation was higher than February, April was lower than March so thats one month of downward trajectory . I would say several means 3 or 4 months not 2 months so its at the earliest July as they will have Junes inflation print by the end of July when the meeting is so they could possibly have a 3 month downward trend. So if Macklem considers several 3 and not 4 or 5 you have a cut in July but it very well could just as easily be September.

[@Observer168]

The days of affordable real estate in Vancouver or Toronto are long gone. People need to start looking at other parts of Canada like Calgary, Montreal, Edmonton, Quebec City or even Winnipeg. Don’t expect to buy a nice car if your budget is only $10,000. You need to make compromises if you want to own or you just keep taking the bus.

[@rastislavvelkamorava1624]

Hey Loonie hour. Isn't it time to ban this spammer? Spamming is the act of reposting the same comment over and over each time a video is posted.

[@Observer168]

@@rastislavvelkamorava1624 don’t read my comments then

[@donm2067]

You will never learn. The average Canadian couldn't afford Dunster BC. You have great delusions, and need medical help

[@Feedback4Utoday]

Keith should consider that the Universities are hotbeds of socialist and state employees and unions. We hate for the gravy train to be slowed for this belowed group. Please re-open the number of student visas and citizenships that are for sale. We need a big government to be reelected to ensure salaries and then pensions are paid at very high price/lifestyle.

[@kelpeyehelp]

This is the first time in my memorable life i've seen the gov in a loose - loose situation regarding interest rates. It's going to be interesting to witness the fallout of the decisions that are made, although I'm not sure what timeframe to wait for (3-5 years?)?

[@dutchgirl7603]

How to keep the consumer spending: 1. Keep home ownership high so people don't see the point in saving for their future. 2. Keep the stock market high so people feel richer and keep spending. 3. Offer high GIC rates on the boomer savings account. Buy, buy, buy ... what could possibly go wrong?

[@deep8174]

Keith, porcupines do not project their quills by the way. Wrong like the Russian invasion you thought wouldn’t happen.

[@roseoverdose6451]

re: STR regulations. there's also a petition to the court against the province right now. the BC Property Rights Association... you should get the director on. his name is Orion Rogers, good guy. court date is set for mid June.

[@peterlallen2623]

G7 EV Tariffs??good or bad for emissions??

[@marcoalbanese8221]

Great show guys!! I highly recommend watching, if you haven’t already, “How Central Banks have Seized Power over our Societies”. Lots of info on why Japan is in the shape it’s in. Have a great weekend all!!

[@Feedback4Utoday]

Lot of communists in BC by looking at the comments. ie people w no clue, but boldly assert that it is good for govt to dictate misery vs freedom. Lot of people wanting free stuff for themselves - at the expense or work of others. The 'free stuff' is always quite temporary - promoting and rewarding non-productivity leads to 3rd world... which is most of the world and few freedoms.... and few rewards for efforts

[@ladyjade6446]

We’re surrounded by communists. They’re always jealous.

[@jbay088]

Rich - mortgage interest is not going to slow as an inflation driver for some time, at least as CPI is measured. Don't forget that the CPI basket weights update once a year, based on the year before. So April 2024's CPI weighs mortgage interest at, what, 2.5% of the basket? And that's based on basket weights last updated in 2023, based on how much of the average consumer's spending mortgage interest consisted of in 2022. If you work through the math, you'll see where this goes. Mortage interest payments went up maybe 30% between 2022 and 2023, so the next basket update in June should see the mortgage interest category increase in weight as a whole. And while interest costs might not be growing as fast as they were last year, they're still going up each time the someone buys a house or renews their mortgage at a higher rate than their previous one. That renewal volume will probably peak in 2025-2026, if interest rates (or house prices) haven't fallen significantly by then. (Also, yes, using a lagging basket weight update like this does result in a consistent under-reporting of inflation, because it means the CPI basket weighting for each component peaks a year after that CPI component itself is already trending down, and bottoms when it starts trending up, but that's another issue.)

[@diasx12]

i meant the rate of change

[@jbay088]

@@diasx12 OK! Makes sense! I do think the rate of change will still be bending upward even if interest rates don't (because of both fixed-mortage renewals, and because of the growing basket weight) but it certainly could flatline.

[@rastislavvelkamorava1624]

Maybe the next new investment oppurtunity is hotels (in Penticton.) Funny there was never talk of a shortage of hotels before Airbnb.

[@TimBer-y3y]

Yes there was, maybe your little brain can’t think that far back?

[@CAF-ju1ui]

Used to stay a lot in the traditional B and B’s with lovely breakfast’s - it’ll be great to have more of those options again 😊

[@ethimself5064]

Protect BC wine thing - Mot too many years ago the Provincial government literally put more taxes on BC wine than imports. After protesting this for a very long time the government reduced the taxes/likely on par with the imports.

[@EddyBergen-n5z]

I'm confused. Aren't foreign students an Export, immigrants in Import. We need more foreign students. not fewer. Subsidized housing a middle/upper-class gov. subsidy. And house taxes already a provincial wealth tax.

[@meddlehedd1194]

why do we need foreign students taking away seats from kids of taxpayers that fund the university? And don't tell me the universities need the foreigners to stay profitable. Maybe they waste too much money if that's the case. that tuition gap between college and university is a joke

[@martini1591]

When we going full HD boys

[@Casey-qm1nd]

My Friday ritual, thank you for the entertainment guys. Keep it up!

[@tomaga5856]

Great ending guys!

[@tiffany.Elizabeth.]

Omg yes! Rich - not just shrinkflagion. BUT many stores are under filling the portion that the label says it is. This was a rampant trend on social media where you go to the self check out and you can actually weight each item. And everytime it was under.

[@meddlehedd1194]

if you have frieland on which of you will be meester speeker?

[@shanesteele778]

Who do you blame for the smaller package the manufacturer or the grocer if its not their own store brand

[@theslyrylan]

Penticton was a sleepy little town in the 90s. Maybe it will go back that way due to the NDP government

[@stevevanpion3265]

you are being "governed"...incorporated too....Leona C. knew when BC LG. [S]elections by Dominion "group" too for sooooo loooong , u hv no idea :-(

[@easterntechartists]

You have to occupy for 1 year, sell it and renovations not allowed. Private property is dead in this dump. Sell Canada , emigration only solution to freedom

[@andreasasatya9188]

The hedonic adjustment and the substitution effect in determining CPI is BS

[@frede3g3g]

I had a fews good laughs on this one

[@meddlehedd1194]

If a grandparent is Irish, the canadian grandkids can get irish citizenship. if a parent is american the canadian kids can get us citizenship.

[@sonnyyeung6060]

0.25% cut June…or July to 4.75%

[@dutchgirl7603]

Porcupines can climb trees? Always learning something new on the Loonie Hour!

[@dchabot5323]

The never ending debate between cyclists and drivers is in my humble opinion framed incorrectly. It should rather be coined as a struggle between civilized and uncivilized people. Indeed, cyclists and drivers are found in each camp. As an avid cyclist, I am sorry to see that Steve does not seem to appreciate this nuance.

[@kqh123]

I believe in a world where drivers and cyclists can co-exist peacefully. -George W Bush

[@donm2067]

I believe in a world where cyclists follow the rules of the road and understand not following them has consequences

[@HubertGeorge]

Stop camping on the road like an uncivilized human being then.

[@meddlehedd1194]

@@donm2067 including "turn the right to allow traffic to pass" as stated in the OHTA

[@chincey13]

Steve is dead weight on this show. Hilarious to watch

[@jtome84-91]

The federal and provincial governments have taken grandstanding to a new galaxy

[@user-cw7jy9zr3z]

month over month inflation says no cuts

[@diasx12]

Agreed

[@mogulrider]

Higher for Longer. Period What does a 4% inflation print in the Fall do to all the cut fanatics

[@Casey-qm1nd]

I always like reading your comments. What is your base case for that happening, curious.

[@mogulrider]

@@Casey-qm1nd The data I get from several subs shows a 4% print in the US for Q3 and Q4 of 2024. We could be hugher here. All my subs (who are damn good at what they do) say 1 and done for cuts. We don't know the future of course but only probabilities. We see commodities absolutely rippin which is core product of what we buy. So inflation isn't going anywhere. Plan for it. imho if they cut - the CAD will get monkey hammered. One must diversify their cash holdings. I did that long ago. One more thing, plan for WW3. All the twitter announcement by Blair about military is showing us they are gearing up for it. Stay vigilant

[@geraldbrowne]

The okanangan will revert back to the old ways of orchards and homeownership

[@donm2067]

We can only hope

[@kevinlavigne7308]

Rich, why would you be against lanes for cyclists?

[@headab9027]

Lots of hand wringing about cost of food and struggling populace. And of course the cost of shelter. No solutions offered. No mention of the damage the massive growth in extreme wealth has caused.Buying up and hoarding assests. Wealth is getting sucked up to the oligarchs and oligopolies who of course should be taxed out of existence.

[@meddlehedd1194]

"...should be taxed out of existence."......OK Mr. Lenin

[@headab9027]

@@meddlehedd1194 Thantks for the ad hominem attack. Do you know what that means? And your solution is?

[@meddlehedd1194]

@@headab9027 Your solution is literally to paraphrase Lenin and advocate for communism, which has never been the solution to anything. Yes I know what it is and YOU lost the moment you quoted that POS. Do you even know what you said?

[@meddlehedd1194]

Inflation is suppository

[@Zhe-Zhe]

Sorry guys. Using a bunch of Billionaire money is a great idea. Why just a one time confiscation? Why just toward the deficit? more realisticly and do-able ...collect more taxes yearly (PRE-tax shelters). Of course that money generated into the general population is going to help. Ps...I am against a one world gov absolutely.

[@TimBer-y3y]

Hey, why type so much? No one cares. You sound simple. No one is listening to your comment. You’re wasting your time and what little brain power you have

[@meddlehedd1194]

you don't understand bracket creep and many other things. maybe start by not wasting.....no ...stealing our money and defunding ukraine and the mainstream media propaganda machine

[@EddyBergen-n5z]

Enjoy the weekly irreverence. Maybe you could do a show explaining what the feds actually do. Provinces = roads, schooling, police, courts, health, wellfare...everything we touch. The feds = ??? a military with highest % of generals in world? Yet they spend twice the money. It has always been my conundrum.

[@cortlandlaidlaw3888]

Keith with the 'Saskatchewaaan' :'D

[@tomaga5856]

Dont spook Tiffy with any rate drop predictions!😂

[@stevevanpion3265]

Steve...seems u hv no idea what has been removed from McD products ??? Comfortable lies v uncomfortable truths is coming.

[@roadopener]

Steve with the tone deaf kitsilano yuppy take … actually bro I know A LOT of families willing to rent a lakefront house for $4k. Sorry your vacation was ruined

[@bapa8426]

I hope this is taken as constructive criticism and not trolling but somebody's gotta tell ol boomskis less is more when it comes to the dad jokes. Conversation got derailed a few times just as it was getting interesting

[@bapa8426]

@icecapassetmanagementlimit849 your wisdom is valued, i always find myself wanting to hear more of your thoughts

[@CoconutPatel]

Are you guys really arguing that someone wanting to use a home for investment (air bnb) should ne ok when theres a housing shortage? Can we stop promoting investing in RE until theres no crisis 🤦

[@smwhitney]

BTC can disregard techincals when in a bull, did that in 2020 when it crossed previous ATH... stayed there a few weeks and continued pumping like crazy to 60k. Also, there is one constant... when around 90 on monthly RSI, the end is near. And don't expect crazy price targets of 500k... expect around 100k at most and be happy if there's more after that. If you believe big boys and CEO's of big invesment firms saying targets like 1M this cycle.. you deserve to be their exit liquidity..It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3B'tc to a decent 21B'tc in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@redeyesband]

Productivity is never accidental; it is always the result of careful planning, dedication, and consistency.

[@cortlandlaidlaw3888]

Hoping for a SK shout out this episode. We matter.

[@lesasmith4692]

I don’t think the grape situation is that bad..

[@meddlehedd1194]

who will pay for these lanes? the cyclists that currently ride the roads for free? bwahahaha right.

[@martinz6445]

Oh the rich are complaining about their luxury vacation properties, while the peasants can barely afford food in Canada

[@nickdipasquale6071]

Poor keith caught a stray bullet with richs age shot.

[@HybridHunterBC]

The thing about road bikers for me is that they dont pay insurance, their everyone elses liability, if you want to ride the road share the responsibility

[@kqh123]

Interesting take. I have to think about that one. Are you talking about the cost of injury risk?

[@donm2067]

Thats a very good point

[@cyb_structure]

@HybridHunterBC - If they are apart of the traffic flow, they should have insurance. This is a great point you make.

[@richardpowell1389]

*they're

[@kqh123]

@@richardpowell1389 *there

[@jasonpepper658]

1) porcupettes 2) voters should watch your show to live up to their responsibility as a member of society so that policy(idiots)makers can't get away with BS (absurdly conmical suggestion) 3) what is the marginal effect of the small number of Air BnB etc. 4) you guys should do a lecture on marginal effects (quickly remembering 25 years ago in microeconomics 100) elastic markets have large movements in P with small marginal changes?....this is important to understand. Am i getting this right? I don't know how you make that exciting.

[@ethimself5064]

The old Liberal party was a joke as they were branded to most Conservative government in Canadian history by Political Journalists/Pundits. I believe this was a joke done on purpose by them and got a lot of laughs and smirks behind the scenes. Much like throwing a wrench into the works.🤣

[@levizander5584]

I believe the plural of porcupine is "porcupricks"

[@richardgirard1441]

Which country is now forcing shrinkflation to be advertised on the product? Ahhhhhh France... woulda bet on Finland, Norway... Sweden... nooe... France.

[@HybridHunterBC]

The next recession will bw transitory, calling it now 😏

[@davidkania3720]

Lol

[@Hoser584]

More crystal ball predictions

[@duncanmacdonald9266]

Cutting the immigration target.. pfft If everyone is grandfathered in as a citizen via their parents ever setting foot in Canada, then they aren't technically immigrants, well played to get around that one 👏

[@shelterskelter]

Hahahah. Telecom dropped 27% shaving 0.42% off the jesus headline number. Cooked the books like a thin steak. Completely fucked.

[@normalaverageeverydayguy2600]

Oh no, more professor's laid off! The humanity!

[@cortlandlaidlaw3888]

Steve said Saskatoon :)

[@jamiesparling5661]

A prickle of porcupines...

[@edubmf]

Boomer: I save and so I can damage society in any way I choose! No boomer, you can't.

[@TheGamingAbyss]

God this podcast is comfy. Noon on a Friday. I've already made 200 USD today. Having a beer and debating whether to keep going.

[@tomaga5856]

Keep going

[@TheGamingAbyss]

@@tomaga5856 meh maybe later this evening. Blessed with the ability to work and log hours 24/7

[@kqh123]

Does making $200 have something to do with the pod?

[@TheGamingAbyss]

@@kqh123 Nope, but attributes to the comfiness.

[@kqh123]

@@TheGamingAbyss ah, so comfy for your specific situation, not in general. lol. $200 doing what?

[@glennevins5180]

Inflation drops my ass

[@HubertGeorge]

Rich is overrated, Steve is underrated, Boomer is right where he belongs.

[@DizzlefoShizzle-1]

1) Porcupines do not shoot out their quills. So Kieth, stop spreadinf misinformation, and Rich, you dont have to climb up any trees. 2) Even if inflation is down to some target, there still is a real differnece in income/purchasing powe of your average consumer. Inflation ran really hot for a number of years now making up 15% increase (which is CPI and seems to underestimate true inflation). Very few have seen their wage gro that much in rhat time period. This means as inflation is still 2.x, the purchaing power will continue to decline. Also, shelter component is still hot and is generally peoples largest expebse taking up more than half of theur income. So....

[@geraldbrowne]

Steve obviously doesn’t understand the math. Then don’t build a 3 million dollar house. Instead build hotels on the waterfronts. He is so shallow thinking he doesn’t realize the “personal self interest “ he is displaying vs ordinary home ownership

[@Picklemedia]

@7:30 investment, speculation... potato, tomato

[@Stop_Loss]

You are the one who is not understanding the math, personal freedoms, and knock on effects of poor policy. 3 million dollar lake front homes do not, have not, and will not make a lick of difference in making housing any more or less affordable. The downstream effects of over regulating will cripple an industry, which further deteriorates productivity. You and people like you operate on the same personal self interest of, if I can't have it, neither can you. Ban airbnb's along the skytrain lines? sure, Ban airbnbs in wine country- WHY? what will that achieve? I can't wait for you or someone as enlightened as you to comment in a few months ,why they can't afford a simple hotel, or how expensive it is to vacation in "their home country".

[@geraldbrowne]

LOL. Poor guess. I am more than capable to own the lakefront home. I choose to own small. My argument is the financialization Ponzi scheme that has occurred in most major markets around the world. The okanagan started on this path from the 1990’s resulting in eventual collapse occurring now along with the boomer aging out. This is generational result of the 4th turning. The narcissistic boomers will try to desperately hold onto their standing in their social sphere. It will soon end with demographic reality starving the assets of wealth as fiat currencies are devalued. Reality

[@Stop_Loss]

@@geraldbrowne classic. "New taxes and laws should fix tHe 4tH tUrnIng, also did I mention I am wealthy?"

[@geraldbrowne]

LOL. Good luck with that. Will be fun to watch who is correct.

[@skipper1206]

Get to the point, decent info but always ff the first 5-8 minutes of your chit chat how’s your day bs you do.

[@TheGamingAbyss]

Canadians are struggling to eat? Well take a look at the productivity per person in this country. If you want food, you should make yourself more valuable. And thus, make more money. Why should you, an individual who cannot afford to eat. Get to eat before someone else who can afford to eat. Others are willing to do more, and make themselves more valuable (the reason why prices go up). Why are you not willing to make life changes to make yourself more valuable? Dollars and cents are a means in which to exchange labor/services amongst each other for their perceived value. If you think you should be allowed to eat without putting anything in to the system. That means you think you should be allowed to eat the fruits of those who bear said fruits. If you don't want to involve yourself with this. Then feed yourself without the help of others. Or make yourself more worthwhile to others such that you are worthy of eating from their hands.