Is this the Last Interest Rate Hike From The Bank of Canada? - The Loonie Hour

[@ronclarke154]

You guys are some of the few genuine podcasters and a running sense of humor to boot

[@b-rare]

“It’s so easy a boomer can do it”. First time I heard that I died

[@huskavarnapunkband]

The plan was for you to purchase the home, then the bank take it from you later. You did the grunt work, while people sitting in an office take your home and hard work, 20 years later .....

[@MoneyPrintingCircus]

As an Edmontonian, I can approve this message.

[@central3425]

I am from Alberta and I thought that was funny

[@saretsky]

Sorry haha

[@Christoph877]

Its just different than CowTown, has it's own flavor, which doesn't seem to be as appetizing these days to many. CTown offers more what people are looking for these days. It certainly seems to have more life, more energy, and a LOT safer... Seems the young peeps like it there.

[@JohnSmith-qj7hd]

Steve’s bang on… no inventory. But it’s not going to crash because there’s no inventory and we are letting a crap load of people in. We are not going to have a housing crash. But we will have a massive housing crisis.

[@robertzygadlo1157]

I can attempt to shed some light on why Calgary is getting a bump. Edmonton is a blue collar town with Calgary being white collar. Alot of the oil investment will flood into Calgary with Edmonton lagging behind once projects ramp up

[@mikeskirk]

Everyone should grow a mustache for the 69th episode

[@andersmansdotter6923]

If Canada is not planning to export huge amounts of natural gas, why is the northern gas pipeline being built? Similarly about exporting more crude oil/ bitumen by doubling the pipeline to the west coast?

[@mt8474]

If inflation was 2-3% current rates would be actually be pretty good and likely keep it in control. People want our 'emergency rates' to be the new normal. More than likely when the Fed needs to reduce rates to fight the recession going back to zero would be catastrophic and debt levels would continue to spiral higher. It would be better to keep going up to fight inflation, currently over 6%, so they have room to drop us down to 4% in the future. We saw how irresponsible humans are with free money policies in the last 14 years.

[@mr.d4295]

DEFINITELY NOT THE LAST HIKE... THIS IS THE FIRST ONE OF THE YEAR...

[@Mike-xn8yt]

Politicians will never tell the truth and media needs to create content EVERY DAY so narratives change. Reality says the numbers of borrowing capital do not work unless rates return to historic lows.

[@kevinmartel9230]

My question is how much does carrying an $80k HELOC weight on inflation? Lots of runway for people to keep paying inflated prices when you have a huge backstop that wasn't so widely available years ago. Lots of cash sloshing around yet.

[@James-vj5hz]

I think Edmonton is doing more to improve the urban feel compared to Calgary. Due to zoning, bike infrastructure, the city council priorities. But it's certainly lagging behind Calgary at the moment. Both cities have a ton of room to improve, and I'm open to having a home in both cities' downtown area in the near future. I would never buy a house in the sprawling hellholes that exist in both cities.

[@kevinbarr9933]

When all were mostly pricing in 25basis points in months past BOC wham 100 basis points gotcha! Then, I tended to believe that they would not have the gaul to raise rates in Dec. right in the midst of Christmas. But, Boom another 25 basis points, so I do not want to wager a bet, as my odds would be better in Las Vegas and when I flew to Vegas during Harper era our currency was riding 10% higher than USD; Wow, the good old days with our powerful Canadian currency at that time!

[@fitspirit]

I love these guys. They are so sweet. But also educational. Thank you!

[@christelschmidt7468]

My company told us this week that roughly 100 people had been let go all in Global Development!

[@dukemocchi]

AWESOME SHOW GUYS!! Keep it coming!

[@Kjosh247]

“People panicking & picking up stale listings” It’s called bull trap. @Steve friendly bet- by jan 2024, these current buyers are underwater 10% minimum

[@dougiep2769]

Nope, not even close. The average has been 5-7 percent. It needs to be 2 percent above inflation to protect the currency. That’s the actual inflation rate not the dribble we’re told

[@madhusudhan-hw8ye]

I heard 100k Immigrants left Canada in 2022 .😢

[@billrussell1933]

Here we go!

[@dirtlump]

Canadian Federal Energy Policy..... IMO, given the presenting Global Geo-Political situation ? is absolutely mind boggling. I believe one would hard pressed to cite a greater degree of utter incompetence exhibited by a strategic ally within the western Democracies ... than has been exemplified this Canadian Government. Just aweful.... horrible and short sighted.

[@bmiguel90]

i grew up using Baygon as a kid in Venezuela, what a reference.

[@HelloImGNXIGHT]

Forget Lemon loaf and Twinkies Steve, nothing compares to a delicious runny all Canadian butter tart. Try to remember the last time you had one. Well worth the wait. Cheers

[@thejuice3819]

Lmao Rich said .50 cause they don't sell twinkies in the UK 🤣

[@diasx12]

facts!!

[@fuze59]

I think inflation is still right there and ready to flare up again. As soon as they cut rates inflation will spike again cos nothing has changed fundamentally. Maybe supply chains have improved?

[@ronrickards5733]

What do skyhigh mortality rates affect to the inflation-deflation equation?

[@b-rare]

The Patagonia brand awareness is too real right now

[@meddlehedd1194]

Hey Steve didn't know you played hockey. Looked you up on hockeydb....hello from Wellington, home of the Dukes

[@TheDentist27]

What does "rolling over" mean? You guys say it for everything

[@diasx12]

Good question, i'll make that clear in next weeks podcast!

[@catt698]

Justice for Rich, we stan a dorky king 👑

[@somejohndoe3004]

Maybe some large bailiff firm in GTA would sponsor the show ? 🤔

[@thejuice3819]

I think you guys are too soft on the US economy. If Saudi allows China to start buying oil in Yuan that will have a bad impact a year or 2 later

[@ronrickards5733]

Lemon loafs ( loaves?)are great, especially the glazed ones. But how about the vaunted blueberry fritter?

[@jamesheron2282]

Japan is an economic experiment that has only survived because of china’s incredible growth. Why no mention today of China? Did you not see that China has self-reported the first demographic led population decline in living memory and it was almost a loss of 850,000 souls. Remember, this is China and this is a self-reported number which alludes to the fact that population decline is no longer something they can obscure. In a nation that is ever more dystopian, this could be the story of the decade with huge implications for the whole globe. Japan may be the first to fall as they’ve been able to hide huge debt (because of China’s growth giving Japan huge export numbers) including the bond scheme and equity scheme that the BOJ has undertaken for years that any economist worth their salt knows ends in collapse once a real slowdown hits. We may be skating right into that slowdown now with China unable to increase productivity due to horrific demographics which are even much worse than Japan’s. The story is China even when Japan fails; it’s because China stopped growing. The world has relied on the rise of China for the past 40 years as the last great growth hope. This growth has stopped with even China admitting decline. It’s all in the numbers and the numbers show decline for the whole globe going forward because there’s no one left to do the growing. And no, India isn’t the next China story and neither is the Africa continent or S. America and once again it goes back to demographics and the numbers as well as high corruption in these regions that lead to grafting of wealth that doesn’t flow through economy to prove productivity growth. Even Canada’s housing market can lead back to China’s growth and now decline. Look at the timing. Economic decline is now baked into the numbers it just depends on if it’s an orderly decline or a disorderly decline. Most likely Japan is the first to implode and then other highly levered states. We’ve reached the peak of prosperity as China will slowly but surely decline in an ever quickening fashion over the next 30 years. Hold on tight, the world is about to get interesting. On shoring will continue and the countries to watch regarding conflict are China, Russia and its vassal states re: Belarus, Serbia etc), Pakistan, Turkey, Iran and a few others that align towards theocracies or autocratic governments. The cohesion that has been globalization quickly disintegrates when it doesn’t make economic sense anymore for the U.S. to play global policeman so they can make huge sums of money off of other growing countries. Without any big growth stories, their military will slowly return back home from certain regions that it no longer makes economic sense to protect. The moat around the U.S. provides protection from the rest of the world so the U.S. can stay home and watch desperate countries steal from each other in the upcoming decline and will still have enough wealth to endure like that for some time. China is the story and it’s rise has been the story for the past 50 years and it’s decline will be the story for the next 50.

[@realitysells2299]

The best part about your beautifull elegant blurb is the “let’s talk” bot response.

[@jamesheron2282]

@@realitysells2299 ironic isn’t it? The information is there but ignorance is bliss, and so the reply to the “blurb” is “let’s talk”. At least the words were not lost on you. Thank you for the kind reply.

[@dano3952]

No there will be more rate hikes. You should have listened to Howard Marks of Oaktree capital on Amanda Lang's Taking Stock financial show on CTV January 20, 2023.

[@austintrotta9417]

GIC’s at 5%, not bad!

[@kylevulcan6919]

Love the podcast, as someone in the retail industry, how much would you say that the housing crunch could affect future spending?

[@saretsky]

Quite a bit IMO

[@dananderson4789]

Can’t help but count how many times Rich says sorry….

[@diasx12]

sorry, I'll work on that! I am Canadian after all!

[@gregarsaxby5157]

So lets make the inflation target 4% The 2% inflation target was just a thought ... maybe someone can move that target to 4%? My favorite number.

[@ilikeshroomgals]

Thats crazy twinkies are banned in some countries! Sounds dangerous 😅.

[@thejuice3819]

What to you guys think about the U.S. minting the trillion coin to move the balance sheet for the debt limit?

[@somejohndoe3004]

That should be enough to make other countries consider other places where their money could be treated best.

[@Jiggysaw]

I am guessing there will be 2 or 3 more rate hikes in 2023, I could be wrong, if so I will punish myself by eating tacobell aka toxichell

[@ThePettieLife]

great drinking game... every time Rich says "sorry", Kieth and Steve have to take a drink! lol

[@Dwayne_the_Fitness_Guy]

Too early to predict inflation has rolled over. And what happens when gas goes back up again , which will happen with China opening up

[@HybridHunterBC]

Thumbs up anyone who locked in a 5 year fixed in 2020 at 2%

[@central3425]

I got less than that

[@Jo-mf2vu]

Sorry to be a realist, but 2025 is in two years. Unlike the US, in Canada there is no such thing as a fixed rate.

[@ronclarke154]

Is China an inflationator, if so 75 basis points?

[@Iliinois18]

Transitory tiff heading the boc into the first time ever to lose $ while the drama teacher and journalist look on...

[@morimoko]

The only thing anyone should be mad at is Tiff going back on his word, as far as ruining homeowners, everyone i met either in person or online said I was an idiot for saying rates would go up and prices down, the arrogance of everyone at peak is why I have absolutely no sympathy for what could happen.

[@Iliinois18]

Price on housing really haven't gone down that much.

[@dirtlump]

@@Iliinois18 IMO.... this is just the 'start' of the Real Estate price correction ? And keep in mind to factor any valuation changes in 'real/adjusted' Dollars...as the costs of just about everything else climb higher Vrs real estate which will continue to drop in strictly 'numerical terms.

[@manbarbecue]

Cotopaxi is the new Patagonia.

[@veronicaaguilar1437]

As an ecuadorian, I agree hahaha

[@NewYork0110J]

This is a death warrant for many.

[@fuze59]

See u guys at the stampede!

[@ethimself5064]

Is not Bitcoin still way way down?

[@donm2067]

You just don't understand Bitcoin

[@ethimself5064]

@@donm2067 Down is down

[@Libertus21M]

"Even a boomer can do it" GFY

[@stevevanpion3265]

Those Purdy chocolates gonna melt faster than you think.....Cowboys win this time.

[@afaha2214]

No.

[@bipolarpunt5721]

Inventory Rally, wtf are you talking about? It sounds like someone that takes their Real Estate Courses and claim to be an Economics Expert.

[@stephenburnell7122]

Enjoy the economic inflation Rollercoaster ride for the coming years. We will never see inflation at 2% just like gas @ $1.00

[@22chachalaca]

I agree with boomer, it's too risky to slow down..

[@chrisfletcher4666]

🚀

[@newworld6474]

a big question is how big a recession we will have ???

[@ritahogikyan8560]

👍👍👍

[@coindreal]

The Fed is no doubt at fault when they were too slow in controlling inflation in the beginning and now they are trying to do extreme catchup. The pandemic, the supply chain issues, and the Ukraine war all contribute to this perfect storm of brewing inflation. Don't forget the big spike in housing prices, that's another reason the Fed is having a hard time-fighting inflation. All in all, cash in king now and milk that high savings rate if you got the cash. Good times will only last so long and bad times will fade. My advice to anyone feeling the heat in this inflation just trades long term more than ever, I have made over 587k from day trading with Alice Rodwell in a few weeks....

[@coindreal]

@alicerodwell

[@coindreal]

You can communicate with her on TELEGRAM.s with the username above ..

[@baozhai9738]

The market is growing daily with new strategies and trading opportunities. Financial empowerment is our everyday chase and Mrs Rodwell has proven to be a part of this mission. her strategy is the very best

[@marthad.fisher6449]

Lots of people are still making massive profits from the crypto market, all you really need is some relevant information and some professional advice. It is totally inappropriate for investors to stand by as they take dips during significant market declines

[@Lucyy761]

I've worked through a few different financial advisors, but Alice Rodwell stands out as the most competent and well-grounded. She has a sizable client base, and her website is readily accessible with a simple online search for her name.

[@15pirates61]

rich and Steve are clueless. ice cap your loosing credibility rolling with these clowns.....those two have no clue. time will tell.......

[@bat2275]

BOC needs to stop NOW. Protect the home owners that are the BACKBONE of this country.

[@baseline6786]

They need to look beyond rate hikes and have gone too far raising them. the boc is to blame and realize trudeau caused a lot of the issues as well. Those 2 need to resign.

[@morimoko]

shouldn't have overbought.

[@baseline6786]

@@morimoko thats a dumb argument to say "shouldn't have over bought", that means no one should have bought a home bc prices are high? They are high in gta and gva. in 2012 they were high and ppl sold and bought. But compaired to now looking back it was cheap. The next bull run will be big. Just when will it happen. But the boc failed with their rate increases they lied to people. I guess have to increase rent so those ppl feel the pain too.

[@bat2275]

@@morimoko Oh, I will be just fine. I am speaking for my fellow Canadians. Personally I only owe $180k remaining at 2.4% fixed for another 30 months, on a house that I could still easily sell for $700k (probably $800k at the peak). But if BOC causes a deep recession, that affects everyone, which is where we are headed.

[@Rawdiswar]

Heck no, normalize rates at least so they are positive.

[@jcabral6231]

edmonton haters trio

[@catherinebryenton4993]

Steve has made himself and expert with no education or qualifications. Not saying he is a bad guy. He just sells himself well. And you all eat it up no question. He sold real estate. No college. And thinks he has some expertise in finance because he likes it.

[@jameslaw3550]

And yet he is still 10x more intelligent than you with your BA from backwater University in underwater basket weaving

[@saretsky]

Thanks for the kind words. Appreciate the support

[@freezerlunik]

i've seen a fair share of very educated people spout out nonsense. It's the substance that matters.

[@lindabutt1481]

What a dick comment. Some of the dummest people I have worked with have tonnes of education, but zero experience or common sense. Skin in the game is everything!

[@silenceisbetrayal6431]

What if inflation starts perking up in spring and summer?

[@GearsDemon]

32:44 big short reference followed by a mention of stripping 33:45