There's a good news-bad news angle to the economy right now: Scotiabank's Derek Holt

Derek Holt, vice president and head of capital markets economics at Scotiabank, joins BNN Bloomberg to break down and preview the latest economic data.
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[@nicolasbenson009]

I recognize the hardships that come with economic struggles like unemployment, job loss, inflation, housing market instability, political uncertainties, and the global impact of conflicts and wars. Making ends meet during such times can be incredibly challenging. To navigate this difficult period, considering alternative job prospects, enhancing skills through online courses, and expanding your network can heighten the chances of securing employment. Moreover, prudent budgeting, exploring available financial aid programs, and seeking assistance from community organizations can offer some relief. How are you currently tackling these challenges? Have you implemented any specific strategies to cope?

[@EddyAgnes-vy4kp]

In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor OR in a financial market, requires guidance at some stage.

[@RaymondKeen.]

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.

[@SandraDave.]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@RaymondKeen.]

My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@CraigLloyd-fz6ns]

Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.

[@oshkoshbegone]

I find it hard to believe GDP is going to increase with how things are going. Residential transactions are at a standstill with real estate being a major gdp contributor.

[@willallen129]

New construction sales and development are the only transactions that contribute to GDP. Anything resold that was completed in a previous year does not contribute to GDP.

[@asdfhiuh]

The only growth happening in Canada right now is in the public sector. And the private sector is buckling under the pressure of trying to support it.

[@user-kv4kp4co1r]

Scotia Bank exhibit caution, and their track record shows the lowest incidence of very bad mortgage loans. I like Scotia Bank.

[@Futurama10000]

GDP per capita collapsing is a recession. Artificially growing gdp is not a successful economy

[@theowoytowich9959]

Agree

[@deanhudgin1545]

I read that if they stripped out immigration numbers we would have been in recession a few years ago. Governments spending money is not positive GDP!

[@willallen129]

Growing GDP increases GDP per capita as long as population growth does not outpace production, regardless of distribution (median income).

[@HyperImmune]

@@willallen129yes, and our population growth is far outpacing productivity gains. Our per capita gdp is falling while overall gdp increases. We are not in a technical recession because the federal government is importing people en masse. It’s not an accident.

[@APICSKH]

I am finally going to start investing in Canadian equities after a 6 years break. I am targeting October 2025. I went 5% of portfolio in Canadian equities in 2015 (unfortunately) now there is a light ( not really a light but hope) at the end of tunnel. It’s time to start being positive about Canadian equities.

[@MustyBastard]

Turtle man speaks great wisdom.

[@fretstain]

lol

[@gijo1609]

With a very good US economy it's almost impossible for Canada to go in a recession, but it's troubling that we lag well behind the US. This is because the federal government in Canada has played a huge part in our economic downfall.

[@UKNOWMESCP]

I've watched this channel for over a decade. I have not heard more dishonest BS in the last 3 months from this network than ever.

[@UKNOWMESCP]

TOLD YOU.

[@RC-fh2lk]

Goodies lol!!
He’s right…most are goodies

[@KennethYimHomes]

Derek, shhhh!! Carolyn Rogers was probably setting up for a rate cut!

[@samgabriel2360]

Long story short, they don't have any clue, as usual 😂 it just keeps repeating over and over again and they keep failing their own thing thesis.

[@jodyperyk1978]

So Nick why do I have to sacrifice when our neighbours to the south go on living a non-sacrifice existence. Riddle me that.

[@waynesutherland-rs6ct]

were broke!!!!

[@thewealthymarketer]

The Canadian economy is 🗑️ right now

[@sarbteja]

I dont buy this crap

[@supernuts060]

Anybody able to get any information out of this?

[@dirtlump]

Inflation higher for longer, albeit, some optimistic sentiments emergent ?

[@gottasay1157]

sounds like justin talking.....fruit salad. and who are these idiots. they have yet to get anything right