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Canada’s Housing Market- Ready to implode!
Canada’s Housing Market- Ready to implode! Despite what the mortgage companies and loan-sharks tell you: All’s NOT hunky-dory with the Canadian real estate scene. Even the government, at all levels – Federal, Provincial, Municipal – are trying desperately to put on a brave face on the impending market correction. However, the numbers never lie. Here’s […]
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take The Bank of Canada raised the overnight rate by 25bps to 1.5%, in line with consensus estimates. In justifying the move, the Bank said it expects the global economy to grow by about 3.75% in 2018 and 3.5% in 2019, adding that the […]
CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War
CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War Have you ever woke up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what […]
Oil Investment In Canada To Drop Despite Rallying Prices
Oil Investment In Canada To Drop Despite Rallying Prices Canada has the world’s third-largest crude oil reserves, but the country seems determined to pretty literally keep these in the ground. This determination becomes strikingly obvious when Canada is compared with its southern neighbor, which is just what Bloomberg’s Robert Tuttle and Kevin Orland did in […]
Canada’s Real Estate Sector Faces Difficult Transition
Canada’s Real Estate Sector Faces Difficult Transition The great Canadian real estate bull market has pushed home prices to dizzying heights over the past two decades. And with ever-rising prices it has sucked in more capital and resources creating an almost self enforcing feedback loop, where an entire economy has become dependent on rising house […]
Loonie Tumbles After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years
Loonie Tumbles After Ugly Canadian Data: Worst Toronto Retail Sales In 3 Years The synchronized economic slowdown has hit again, this time striking America’s latest trade war opponent, Canada, which moments ago reported some very ugly inflation and retail sales data. First, on the inflation front, Canadian CPI rose just 2.2% in May from 2.1% […]
Canada’s crazy Libertarians want to legalize lemonade stands, baby-walkers and Bitcoin
Canada’s crazy Libertarians want to legalize lemonade stands, baby-walkers and Bitcoin Maxime Bernier’s near-win of the Conservative Party leadership suggests that Canadians increasingly are tempted by smaller government. But maybe Bernier is in the wrong party. So says Tim Moen, the dynamic leader of the Libertarian Party of Canada, whose upcoming convention, will take place […]
Neoliberalism, Pipelines, and Canadian Political Economy
Neoliberalism, Pipelines, and Canadian Political Economy Photo by Luke Jones | CC BY 2.0 The national debate about how to get diluted bitumen to trans-oceanic markets by means of a twinning of the existing Kinder Morgan pipeline route between Alberta and British Columbia – known as the Trans Mountain Pipeline Expansion Project – illustrates the […]
A Made In Canada Recession Story!
A Made In Canada Recession Story! The Canadian economy lost 7,500 jobs last month (May), and unemployment was still at 5.8%. This, despite analyst forecasts that the country would likely add roughly 22,000 jobs to the economy. Rewind to the previous monthly jobs report (April). Analysts had predicted that we would add approximately 20,000 jobs […]
Why a US-Style Housing Bust & Mortgage Crisis Can Happen in Canada, Australia, and Other Bubble Markets
Why a US-Style Housing Bust & Mortgage Crisis Can Happen in Canada, Australia, and Other Bubble Markets Despite persistent and false memes to the contrary. When a housing downturn gets big enough, there will be a mortgage crisis, and it will hit banks, shadow banks, and mortgage insurers no matter what the mortgage laws are: […]
Trump, Tariffs and Trade Deficits
Trump, Tariffs and Trade Deficits “The Chinese are raping us” and “Canada is killing our farmers”! Such melodramatic claims from Trump resonate with many Americans, because the effects of globalization have been devastating for half the population. To his credit, Trump has been harping on trade deficit for thirty years – he was complaining about […]
Canada Becomes Second Country To Legalize Weed
Canada Becomes Second Country To Legalize Weed Canada is on track to become the first G-7 nation to legalize marijuana, and the second country in the world (after Uruguay), after its Senate approved legislation in a 52-29 vote, paving the way for recreational cannabis to be legally bought and sold within the next few months. […]
Chrystia Freeland Fails to See the Emerging Multipolar World
Chrystia Freeland Fails to See the Emerging Multipolar World In a strange case of reversed roles Canadian Minister of Foreign Affairs, Chrystia Freeland, tried to convince US president Donald Trump to return to his lost path of globalization and international trade agreements in an impassionate speech she gave at the Foreign Policy Forum last June […]
Former Bank of Canada Head: Pipeline Protesters May Be Killed. So Be It.
Former Bank of Canada Head: Pipeline Protesters May Be Killed. So Be It. “North American governments have shown the ‘fortitude’ necessary to kill indigenous people often enough that this is no idle threat,” warns Bill McKibben. Protesters at a rally in Vancouver to show opposition to the Trans Mountain pipeline on September 9th, 2017. (Photo: […]
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It A few weeks ago, a real estate agent told me about his client. Relatively wealthy older dude, closed on not one but two townhouses he plans on flipping. After some questions regarding who financed such a deal, he explains it was a private […]
