The Problem with Canada’s Economy | Canadian Economy
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- Опубликовано: 18 апр 2023
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Despite being one of the wealthiest economies globally, Canada has struggled with stagnating growth in recent years. The country has experienced little to no economic growth in recent years, and this trend seems to be continuing. This lack of growth has been linked to various factors, including a decline in oil prices and a lack of innovation and investment in various sectors. Its economy is also struggling with low productivity and innovation. The OECD forecasts that the country will stagnate and have the lowest growth of any advanced economy over the next 5 years. So, why is Canada struggling to grow, and what can this tell us about other advanced economies?
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You are awesome :)
please provide citations
@@danlacina9372 it is in description above
When you talk about average salaries is it in USD or CAD?
K as native in Canada i know a few things the pay here is decent the housing market Is horrible so if you live in Canada plz make sure you live with someone or else you’ll not gonna have a good time as far as our corruption our government is going to pass a bill that going to make us the biggest corruption countries bill c-11 Justin Trudeau used chins to win his election in 2019 and 2021 so am worried for our internet freedom outside Canada don’t know how bad it’s gonna be
Love this video. I just shared it with a friend and I subscribed too
The Canadian Dream is having someone else pay your mortgage with their rent.
Well that's the game around the world
It is so true, and I have seen many young professional immigrants who has master degree and above's dream is to have 10 houses than do other valuable stuff
Without the home owners (Landlords) there would be a major homelessness pandemic. Respect your Landlords. Not everyone works harder or smarter investing in properties. Keep note that home owners contribute A LOT to the tax structure. Property tax and Land transfer tax. Renters should bow down to home owners for giving them a roof.
Facts
@@justinothedominicandragon940 everywhere is like that mate
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
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
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Our economy is worse its like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)Please do you mind referring me to your financial analyst?
Amber Dawn Brummit is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.
Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My consultant is‘’Catherine Morrison Evans’’ I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Canada.
Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.
@@TomD226 Inspiring! please can you leave more info of your investment adviser here? I’m in dire need for one.
@@TomD226Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Buy Gold, Silver, Bitcoin, Uranium stocks and Oil stocks. Saskatchewan has many of the biggest Uranium deposits in the world, Alberta has some of the biggest oil deposits. The amount of Gold and Silver mines we have in Canada is also up in the top of the world.
it's easy, get your tenth vax on your way to fight for ukraine
The last time my landlord came to collect rent, I invited him to come up to my apartment to show him I was taking good care of the place (and to hopefully discourage him from renovicting me at some point in the future). He said he didn't have time, as he had to go collect rent from 11 or 12 of his other properties around the city. He also mentioned that he had never seen the inside of my apartment before (despite the fact that he owns it). He has only been in the country for a few years, but apparently he already owned a lot of land here before immigrating. He's a very nice guy, but I can't help but feel that there's something seriously wrong with this picture. We can't base our entire national economy on selling our land and resources to rich foreigners while we produce nothing of actual value.
Canada is a ressource country, how are we supposed to do something productive when our neighbour is the world’s biggest economy…
Time to bust out the guillotine
This is a large reason why people cannot afford housing either.
Actually foreign investors are great for Canada to increase competition with the local housing market.
But foreign refugees and other poor immigrants that don't works but collects goverment taxpayers supports actually adds competition to the low average to below average incomes locals.
@@loktom4068 Wrong unless you like insanely high housing costs
I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job or should force early retirement. All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.
Yep great question and that’s always the one - where would you rather be if you have an option. Personally I’m always invested aside from a small emergency fund. Financial-market for me seem the only way forward with my long time horizon (accrued almost $1.4m in gains since 2020 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe! . Just know the risk you're comfortable with . Mistake is expensive
I fully agree; I'm 60 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one.
@@joesphcu8975 A million dollars in profit is a fantastic achievement; how can I contact this advisør of yours?
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "HELENE CLAIRE JOHNSON" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Just what I needed to watch.
My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52.
We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@AngelikaAchen-tx2of You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Laura Marie Ray is my FA. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@ZITABELCOMEDY-xf1ws Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
$1M in passive income? You will need about $25M for that. Maybe more now given how overprice the stock market is. Rental businesses only really make sense in Alberta now given the hostile governments elsewhere, high interest rates and low CAP rate.
The brain drain part really struck a cord with me. Canada spent tens of thousands of dollars subsidizing my education only for me to leave in my mid 20s to seek better opportunities in the US and get away from their housing crisis. I tried to stay in Canada but even the top companies had vastly lower pay compared to what I could find in the US relative to the cost of living. The biggest difference I've noticed living in Canada and the US is in Canada the smartest people I know are investing in unproductive real estate and in the US they are hustling to start/grow STEM startups. In my view, the worsening housing crisis in Canada will only exacerbate some of these stats in the coming years.
i agree
this is proof the us and canada should just become one country
@YOYO never going to happen, but I do agree. USA, Canada, and Mexico should seek a common economic zone. Similar to Europe, US can benefit from foreign labor (more so than they already do) and Canada and Mexico can benefit from US capital investment. And if it goes well it can be expanded to more developed parts of central America, Costa Rica and Panama notably
government officials were officially (sorry for tautology) promoting Canada as a cheaper labor opportunity during investment forums, no wonder it creates a brain drain gradient looking south.
@@Sam-ip6co US does not give a f*ck about its neighbors, NAFTA renegotiation check, illegal immigration crisis check. US just does not see Canada and Mexico as equal partners.
This country seemed like a paradise when I was growing up, our family had a doctor, we could get healthcare access quickly, my parents bought a beautiful home for cheap, and my dad started a successful company, while my mom was able to stay home and raise us.
These days both partners need to relentlessly work to even afford a place where raising a family is extremely difficult, healthcare treatment takes hours of waiting, and costs of basic services are through the roof. In BC we have only 1 government-run car insurance corporation, and they charge me $500 a month for my work vehicle, despite me having a nearly clean record.
Yup it's all gone to hell.
@@keithpalmer4547 Another baby boomer basher. Go figure. Accept responsibility for how you got to where you are now. Not all baby boomers are living the high life.
Canada's number 1 problem is that it's too damn cold. As people become wealthier they look at quality of life; in the US all the Sun Belt states are thriving and the Salt Belt states are losing talent. Half of Florida seems like wealthy Canadians in the winter. Cold weather causes brain drain.
It's because Trudeau's. And the entire family structure. They keep Canada deliberately down. Canada should be the number 1 energy producer, with what we have in oil, gas and hydro. Top refined mineral and rare earth stop. Best ports. Hudson Bay with 6 icebreakers leaving the bay free for trade all year. But we can't because of the energy policies and cross province resource extraction being forced to involve the federal government. BCs greatest parts where built under a party long gone. The liberals and NDP have done untold damage with nothing to show for it.
Immigrants are the problem. They compete for jobs and real estate. They could be China spies too. Stop immigration and most problems will go away. Amen.
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
@Christina-Gisela Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
@@hermanramos7092 I’m in dire need of guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?
Yeh emerging market won’t be growing fast enough to escape this recession and china largely already is in one. They avoided the last one by building infrastructure and selling things to the western world. Both can’t happen this time and they can’t foreign direct investment on top of that
Canada is a real estate banana republic. Real estate is an unproductive asset to the general economy. It's dependent on low borrowing rates which encourages asset price inflation and the exploitation of those who are unwilling to participate or those unable to afford barriers to entry. This perpetual cycle of borrowing, buying and exploiting, has its upper limitations. Eventually everyone loses as debts are insurmountable and rent becomes unaffordable. When a recession occurs due to lack of spending, job losses will occur and a deleveraging will be soon to follow.
I totally believe we are at the point you brought up. The debts are insurmountable, the rents are unaffordable. High unemployment is the last domino to fall before it all implodes.
@@brianbondy5667 Its wild to me that we report 'lowest unemployment rate since 1957" as a good thing for Canada's economy. Like yeah we're all working, but that's because those who in good times shouldn't have to (retirees, pregnant/new parents, people with significant disabilities) are forced into working low-skill, low-capital service jobs to avoid homelessness. The day it busts is the day inflation+wage stagnation hits the tipping point that working 40+ hours a week doesn't even afford the bare minimum for most Canadians anymore, and it feels like we're approaching that soon.
@@Steadyaim101 Well said friend.
Yeah, it's pathetic that the so-called Canadian "economy" is a mirage founded on artificially inflated housing prices propped up by endless debt, foreign and domestic speculators, and criminal money laundering.
Real Estate Banana republic. bahaha - Canadian here, love this comment!
This is so relatable. I was earning 60k CAD in Vancouver, living in an one bedroom condo and had no investment. Then I moved to Seattle (3 hours from Vancouver), now making 170k USD, owning two real-estate properties. I don't want to move back to Canada anymore, because the life there is very expensive, why do I pay so much tax and still can not have a decent life?
you were making 600k a year???? doing what?
@@justinekerr6143 typo, 60k
That’s actually crazy, 60k cad to 170k usd which has the most power in terms of buying
How were you able to move to usa and be able to work?
@@drtrollguy apply for a job, pass the interview. Major tech companies will sponsor your visa and immigration.
I used to think every investor went broke during recessions, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $145k to invest for future, unfortunately l'm a complete noob.
A lot of folks downplay the role of professionals until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
How can one contact your Asset-coach as my portfolio is dwindling?
Can't divulge much, it's only right you do your due diligence. I'm been guided by Olivia Maria Lucas and most likely, the internet is where to find her deets.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
scam replies
The news about Canada's economy collapse is not new. the media are currently being inundated with the news of economic meltdown. It takes a lot to look past the sea of headlines and focus on what's important: No matter how low stock prices fall, they keep rising. I completely ignore all news and continue to invest. I recently set aside $40,000 to invest in the market as we anticipate a collapse. Do you have any suggestions?
The market will continue to fall, so I recommend you do a fundamental and technical analysis of the stocks of the companies you want to buy and their data forecasts for the next few years. Better yet, you could have an investment advisor help you restructure your entire portfolio and balance the bad apples you're holding. This strategy has worked for me so far, saved me a lot of stress, and is also very time efficient.
I completely agree, which is why I prefer to delegate daily decision-making to an investment adviser. It is difficult for them to underperform given their specialized knowledge and research, as well as the fact that every one of their abilities is geared toward utilizing risk for its asymmetrical potential, and mitigating risk of capital loss. I've been working with an investment advisėr for over two years, and have made over a quarter million dollar. It's really beneficial.
@@jeffery_Automotive I'm glad I stumbled across this discussion. If you don't mind, could you tell me how to reach this investment adviser who helps you with your investments?
The adviser I'm in touch with is 'Julie Anne Hoover' She works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
@@jeffery_Automotive Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Credits to 'Natalie Lynn Fisk' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
The way I see this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don’t have any economies to utilize to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
But the professionals are still crushing it right now because they have both the necessary approach to pull off a profit in the market plus access to insider market knowledge that isn’t made public.
That’s true! To succeed the financial market, you must review and put into consideration the dynamics of your assets prior investing. Analysis based on research is vital which is why I recommend investing with a professional if you don’t know the basics.
Exactly why i enjoy market decisions being guided by a professional, seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience, been using the expertise and guidance of John Desmond Heppolette, for over 5years+ and I've netted over $3million in that time frame..
I curiously made a google research of his full names after reading what you shared, I came across his web-page on-line. I’ve heard of people netting hundreds of thousands this red season I’m really glad to see this. Thanks for the information..
🤖
I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.
Had a good run during my first year in the fin-market, I assumed I had a hang on it. However, things changed during the pandemic, and I needed to diversify into safe assets, so I approached a coach who devised a structure that matched my annual goal of 200k
Although my knowledge of the business is limited, it seems that this is the ideal time to enter the market based on my understanding of supply and demand in the economy. The consistent price variations, which shouldn't be an issue, are the only thing stopping me. But I really need a counselor; could you please assist me?
One of the fiduciaries I deal with is Alicia Ann Jordan. Just check the name. There would be a letter with the necessary information to set up an appointment.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, many people are making six-figure profits during this downturn, but such techniques are generally successful when implemented by those with extensive market understanding usually experts or advisors
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
"Carol Pasol Lewis". You can easily look her up, she has years of financiaI market experience.
As a Canadian, I wholly agree with this video.
Wish people would invest anywhere else but in housing. One of the most basic necessities of life as a commodity creates an imbalance. Rents are high and so are property prices.
Im an older Millennial, so all Ive heard and seen to start my professional working life was properties only go up. I honestly thought it was never going to be a reality. I got in just on time 5 yrs ago, but Im not sure what Gen Zers are facing now. Maybe never.
It's pure insanity when it accounts for 13% of a country's GDP. We might as well put a text on our flag saying "land for sale 24/7”
13%? Oh it's double that easy
I make 90K, still can't afford a home.
@@randomguy4116 where you at? What do you do?
@@donm2067 Toronto, I'm a Tech Consultant
@@randomguy4116 welp you're boned. Move to Texas, that's your best bet.
Canada really discourages Business.
Taxed until death
To the point that they're actively hostile to it. Haha enjoy your beautiful houses with nothing to eat.
How does it move a truck from Vancouver to Montreal ? On the US interstate highway system.
@@georgetsokanis3542 Underrated comment
@@georgetsokanis3542 Yep, a quick google search will show you the faster way to get to Vancouver is to cross the borded and go through the US...
Though i do understand when a country is so big but the population isn't. No point in paving roads that are completely isolated to the rest of the country.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Make sure to invest that money somewhere, its not safe to save. "Save" some money for emergencies and see what you can do with the rest!
if you have 700k in savings man, the best option for you and your future (or current) children is to immigrate to the usa. that will buy you a home in an okay city with CASH, not to mention what youll get from selling your canadian home.
oh shit my bad its a bot account
@@parsatayebi how do you konw it is a bot account？
@@parsatayebi but it is difficulty to immigrate to the us
I live in canada and am starting my final year of high-school in the fall. I have a lot of friends my age, none of us are planning to stay. All of us are going to the States or Europe. We're not leaving because we don't like Canada, we're being forced out because its too expensive to survive. The last two years have been a slow realization that the options for people my age are A) live on the support of your parents for the rest of your foreseeable life, B) become homeless, or C) leave.
Its especially painful because a lot of people here came from immigrant families who worked hard to come here for a better life for their kids, just to have their kids leave for elsewhere or even return to their country of origin.
Im a first year college student (graduated hs in June 2023) the o mt reason I’m in college is bc I was lucky enough to get into living assistance and that’s paying for it. But it stops in April when I graduate and it’s hard to get a job in my career choice, so I have either live with roomates well working 40hr+ weeks or just leave🤷♂️
Europe isn't that much better from a cost of living standpoint. The EU especially is full of renters.
Yeah it was a waste of their time to immigrate to Canada cause all they worked for was sucked up by the politics instead of going to you.
Same after I'm done my education in university I'm moving to the US or maybe somewhere in europe
The trouble with Canada is that no political party is capable of simultaneously gaining power while also making the difficult structural changes that would make the country more competitive. Successive governments have pandered to the needs of baby boomers protecting their housing wealth, to the detriment of literally everyone else. Young Canadians head south where they can make 2x more money, knowing they can always come back when they are rich. It’s a terrible predicament with no easy solution.
@@SusanaBergstrom you seriously think they couldn't reno the house of commons to have ac? lol.... Think they work in those full suits in mid july without ac?
@@SusanaBergstrom Thanks Susana, can't wait for some of that Kool-aid you been drinking.
pity that the States is falling apart too and will likely implode from its own issues.
@@JonathanBell-xl4dl we can turn on a dime so give us 2 years maybe 6 depending what halloween decoration we stick in office, I'm voting werewolf but the skeleton party always offers king-bars so they draw a crowed
@@magapiff1 lmao.
In all my years, I’ve never seen it this bad! I am 70 years old and at this time I should’ve
been comfortable. I served 22 years in the Canadian military and I’ve always worked.
Now I have to rely on the Veteran’s Food Bank to get through the months!
I can’t even afford to get the repairs done on my house!
It’s always helpful when you’re open to learn, unlearn and leave your comfort zone. Knowledge is power, investment is key, Building streams of income is needed for every Canadian to survive this economic downturn.
Very true, I started investing before the pandemic and that same year I pulled a profit of about $750k with no prior investing experience, basically all I was doing was seeking guidance from Maria A Delacruz who’s a guru in investing and portfolio management…
you can be passively involved with the aid of a professional.
It took me 3 years trying to predict what’s about to happen in the market based on charts studying because you never know. I definitely need the help of an investment advisor to manage my portfolio, can I get any help here?
+1346
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People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
@@Brilliantrans That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
@@Brilliantrans Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
Nicolas - If I may rephrase what you've said - your advise is to sell Canadian fiat currency and buy assets that will hold their value .
As of Nov 2023 , thinking in terms of 2 or 5 years down the road . Following a dividend growth investment style , there are a number of solid Canadian dividend stocks " on sale " right now . Look for a dividend pay out ratio of no more than 50% , the valuation price is below the trading price and the P/E ratio is under 1: 19 even as low as 1: 9 .
.
Also , REIT's and Utilities are getting hurt right now because of high debt ratios and rising interest rates .
REIT's can be thought of as fixed income - all of which is getting clobbered right now .
If and when central banks start lowering rates , REIT's will come screaming back . But that's IF and WHEN .
.
gold and stocks arent investments dummy, they do not contribute to the economy
ECON 101
True. Little by little. Gold can be bought as cheap as 60$. Although it wont be a lot, it’s something.
I was an international student in Canada and am now a neutralized Canadian. In the last 5-6 years, Canada has increased their immigration target every year. A lot of people coming in boosted the housing price, additionally, putting a burden on healthcare
I agree with you
I’m also an immigrant to Canada, the immigration targets are way too high. It’s not just housing, social services and infrastructure just can’t keep up.
Yeah your are all right canada doesn't have the economy to withstand a large amount of immigration especially with this modern war in Ukraine and the need of energy product's we need this war to end to stabilize thr economy then get the immigration in suitable level at that time.
Yup. This current government needs to be ousted from office next election. We need more investment in Canada and less immigration.
Again “the immigrants are the problem.” Canada needs the workforce, immigrants. The problem is tho they mostly accept people for few industries. It’s cool that we are getting talented tech workers but we also need immigrants who are nurses, doctors. However it is not as easy for these people to move here because Canada doesn’t recognize health licenses from other countries without going through education and getting a license here too. Other industry workers don’t need such a hustle. So we have basically no new doctors or nurses coming in with thousands of non doctors. This needs to change.
Canada along with New Zealand have to be the best countries at marketing themselves as a utopia paradise that is oh so welcoming to immigrants while hiding all of their problems under the rug away from the World to see.
Probably the most factual and intelligent comment I have read in a long while. 100 percent. Canada also has the Canadian dollar, to which ppl migrate here for.
Bingo!
hhhhhhahaha 😅😂 I laughed
that's true
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.
Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)Please do you mind referring me to your financial analyst?
My advisor is Vivian Carol Gioia, 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.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
I feel incredibly fortunate for having made wise financial choices that have had a life-altering impact. As a single mother residing in Toronto, Canada, I successfully purchased my second home in September. If everything continues to progress positively, my aspiration is to retire next year at the age of 50.
Congratulations on your achievements! It's great to see you doing so well. I understand that I am currently facing financial difficulties at the age of 45, and I am interested in receiving some helpful tips to improve my situation. Owning your own house is a significant goal for you, and it's a wonderful aspiration.
"I have experienced significant returns since I started engaging a financial advisor Brian Francis Pearce. His approach to financial management is truly outstanding, offering remarkable insights and tactics that have greatly contributed to my success."
"I anticipate your kind response. I'm interested in connecting with a financial consultant similar to the one who assisted you in achieving your financial goals.
He often interacts on Telegrams with the user name below
Brianpearce
I invested in my small business rather than real estate, figuring I'd buy a home later. Those that simply bought homes (~11-12 years ago) got way more equity.
This is how you kill a country slowly.
This is genuinely a national tragedy
the bubble will pop one day. probably.
then you lost your small business in the pandemic and now have no business and no home while they still have a home and a sheep job...
@@kingjames4886 well, you don't know yet if he lost his business. He hasn't mentioned anything about that.
As a Canadian living in Toronto it is challenging to make due nowadays. Rent is constantly going up, while housing prices are completely out of control. I myself am wanting to move to the US to get paid more for my job while also getting cheaper housing. It’s a win win.
Do you think Alberta would be a better option? I mean if you are in trades it might be a good bet. Also you wouldn’t have to worry about healthcare as much
@@Evan124a As long as you don’t import liberal mentalities with you to the province.
Just don’t get sick. My doctor told me that the high number of COVID deaths in the US was due to people simply choosing to not go to the hospital because a stint of COVID in the hospital was $250,000. So they stayed home and died. The grass is not greener on the other side.
How is that a win? I mean.... Canadians have Sasquatch... whereas Americans have to content themselves with Bigfoot.
America should just annex Canada to get rid of our joke leader, i hope he stubs his toe for the rest of his life
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Janet
Wow I'm just shock you mentioned and recommended Expert Mrs Janet,I thought I'm the only trading with her
Mrs Janet is indeed a forex mentor. With my first investment of $3k I got a ROI of $12k in two weeks
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Find stocks with yields that exceed the market and stocks that, at the very least, follow the long-term market trend. However, you should get guidance from a financial advisor if you want to create a successful long-term plan...
I agree, I've been in constant touch with an Investment advisor for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months...
Impressive, that sounds good but how do I reach out to your ad_visor?
The adviser I'm in touch with is 'Deborah Sue Bohn', he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
Definitely gonna check her out. I live in Swit_zerland. Any idea if it's still okay to re_ach out?
I'm Canadian, born and raised. I feel disenfranchised and disconnected from my country. With the economic issues mentioned, I also feel like Canada doesn't have a culture or a proper identity. I don't know what being Canadian is, but it feels like it's just watered-down American culture.
I've been slaving away the past few years in hopes of getting out of this place. It could be a huge mistake, and I know it is a huge risk, but I feel like I don't have much here anymore.
Being canadian is pumping all your money into your house... thats about the extend of our culture it seem... How dont forget to also be addicted to either drug, alchool or car.
Canada identity is just "not america"
Don't want to surprise yo here, , but must people (me included) thinking about Canada just like a second America 😀
Amen. I feel the same way. I was proud to be Canadian, now I don’t recognize the place. I work 7 days a week, try to save up for a house, to just get ahead. It’s so hard to be in this country now with the politics and economic crisis we’re in. I’d love to go to the states and have the opportunity too in a year or so. Hoping it works out for you man. All the best. Take the risk and get out of here before the ship sinks.
@@Beanz192 Thank you for the kind words, brother. It’s tricky getting ahead here and I know it must be disheartening to do a lot of overtime, just to see how much you’ll get taxed on the next paycheque.
I think if you keep at it, you’ll get to where you need to be. It’s going to be a struggle, but at least you’re doing something to actively make a difference in your life. A lot of people are too contempt with the status quo to do anything that so much puts them at a perceived risk.
Biggest problem with Canada is lack of job opportunities or lack of intent to develop opportunities for technically skilled population. I have seen people with PhD doing general labour or security job. Out of 20 students in my MSc engineering class, only 3 were able to secure job related to their study. I still have to witness one political party, which has industrial growth or bringing in more job opportunities to Canada as part of their agenda.
Buy an Education to get a job at DOLLERRAMA ! 😳🧐
That bad? All my engineer friends found a job pretty quick post-MSc. Hell, I found a good job with a Psych PhD before I even graduated. I see it though, its really difficult to get ahead in Canada or get a business going that would employ high-skilled labour. So much easier to move to Florida where they will literally shower you with money and personally cut the red tape if you have a viable business plan.
Agree with your general points but the Engineering analogy is a bit off. All engineering graduates (BASc or MSc) I know had easily found a job in one of the 3 main cities in Canada within 3-4 months of their graduation. Maybe international students without undergrad experience (internship) in Canada would have a harder time?
@@alexandrealferan7144 I am not talking about foreign credentials. I have been in Canada since I was 10 years old.
It's due to Canada needing more entrepreneurs to create jobs for those types of people. The fact that Canada has ignored these entrepreneurs has been the big issue for the country.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
@@chrisharrison-ir5wbI agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.
@@josephvalentine-dk6mqExactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people
@@agraimentsyahung726 Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton
The largest employer in Canada is the government. That tells you all need to know about innovative and entrepreneurship. The Canadian dream is to work for the federal government, get a good pension and get an easy worry free job as a public servant.
Canada is light years ahead of my country (Argentina), and stable (we're not) but it's crazy how you guys have similar issues as us when it comes to over reliance on natural resource extraction and low wages which incentivize people to find work in the public sector given a mentality that goes "If I'll get paid little, I'd rather work for the state which won't expect much from me, rather than for a private company that will wring every last bit of work from me"
that is true of most countries in the UK the largest employer is the NHS. the economy is also sluggish because it is built on rising property prices. British companies also under invest and take profit instead.rents are also ridiculous. many parallels , but I would Rather be in c\anada, the UK government are truly awful.
That describes China today too. Everyone wants a government job. Canada's federal pension is ridiculous. They do not deserve a guaranteed retirement that no one else gets
The US-Canada wage gap hits hard. Americans are becoming meaningfully wealthier than us on a per capita basis, all while their housing prices are significantly lower. We're not that far away from the average American making 50% more than the average Canadian. We're getting poorer and it's like no one is talking about it.
true, all we know is buy and flip rear estating ...popety popety popety..
But don’t look at averages, there are far more poor people in America, and the majority can’t afford a visit to the doctor, even with insurance.
Indian here, just an advice.
Although inflation is hitting the west pretty hard but you are likely in a better position than an average America. Americans can't afford insurance, healthcare and education. Above that, gun violence is everywhere.
My cousins live in US, Australia and Canada. Although I want to move to US but all the problems mentioned above, likely be moving to Canada but problem is I will likely be compromising my economic life what I here in India in return for a better quality of life.
@@HarryPujolsconsidering the fact there are over 300 million more americans then canadians that will be the case regardless.
As a Canadian citizen who moved to France for better opportunities, I fail to recognize any positive things about Canada and its culture and economy. In 2019 most of my friends were struggling graduates who were working minimum wage jobs and living with roommates. A lot of my friends had suicidal thoughts. I was working like a slave in the oil patch for a measly $30k annually. And all of this to live paycheck to paycheck in a boring city in a crappy flat with cockroaches. And the food and climate sucks. And Canadians are the most introverted people on the planet.
What were you doing only making 30k in the oil patch?
@@Buckshot99 Land surveyor assistant. I was paid less than some laborers. And I was alone with the Party Chief who had nobody to police them. So I practically lived with awful people who would harass me all day long and make me do all of the grunt work while they sat in the truck. I had to move to France to get a Land surveyor job (I was qualified for it).
@@user-xg6zz8qs3qdis u purse secondary education after graduation? I’m interested how u landed a job in oil reserves
@@geraldk96 I applied for land surveyor jobs on Indeed. There are several Geomatics companies who subcontract for big oil companies. That said, finding work in France is so much easier.
Oil patch earning 30k
Bullshit
On a brighter note, every recession comes with an equal chance in the fin-mrkt if you're early informed and equipped, I've read folks amass up to 7 figures during these times, and even pull it off easily in a favorable economy. Truthfully, I’d need guide please for a boomer like me to attain such amount for retirement, we definitely need to benefit from this situation somehow.
@@Brilliantrans I see no other way to maneuver steady profit and steer off losses in this current market except by advisory management, mind if I look up the person guiding you please? I'm in dire need of portfolio reallocation
@@Brilliantrans interesting! just copied and pasted her full name on my browser, found her site at once, and skimmed through her credentials, very much appreciate it.
As a young canadian it’s been easy to feel hopeless, incredible video
you should feel hopeless, the country is hopeless for young ppl economically unless u have parents who own real estate in the major cities.
It doesn't sound any better in the US if their Gen Z suicide rates are anything to go off of.
@@tomgold5646 why being hopeless when there is only 2 years left of the LPC government?
I run a small business in Canada and it’s ridiculously difficult to do here right now. Not only is the available labor pool deficient, but energy prices are high and regulations inhibitory.
It took 10 years of blood, sweat and tears to get to a solid place, and yet some days I still want to throw in my hat because the Canadian government issued another mandatory survey that takes DAYS to fill out, or some other such nonsense.
Makes me fear of even starting a business here considering you’re penalized to work in this country, might aswell go to Florida considering that’s the area where my business is gonna focus on with the weather
The survey is for them to see how to tax and adds more costly red tapes to your 100% privately owned business.
In another word is to squeeze more juice out of an already dried up apple.
Days... lol... Do you answer the census 1 question a day? You know you could bump it up to two a day. It would be twice is fast. And imagine if you could answer them all in 15 minutes like a normal person. You'd have so much more free time!
The red tape is absolutely absurd and 100% the reason I refuse to operate a business in this country
Oh dude I hear you on that. Running a small 3D printing biz on my end and all I can say is “red tape everywhere!” . For every penny the biz makes (not me) , I shell out half just in tax alone
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
My first investment was with Shanita Creswell, it gave me profit of over $80,000 Us dollar...
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
My plans of immigrating to CA have stopped after watching this video. Thanks for the update and saving my time.
This is a reasonable high level analysis but if you look under the hood, things are falling apart. A lot of the values and metrics used may be out of date or skewed (intentionally or otherwise).
As a Canadian that works closely with the government, the other issues that the tax rate in Canada is very high. Even you get a good paying job or a profitable business, a significant portion of your paycheck/profits goes to the government. There is also a lot of bureaucratic and legislative hurdles to overcome and too little incentives when trying to start or develop a business. For example, to build a high density residential building, it takes around 1 - 2 years of planning and studies, then another year to get all the permits and government paperwork, then 2 years of construction. It takes around 5 years to build a new residential building. Canada's housing affordability problem is not just simply cause by people willing to buy property, it is also cause by a significant shortage of housing supply due to all these regulations and hurdles. If you can't find affordable housing and your income is also heavily tax, a lot Canadians will go south to the US where things are a lot more affordable.
I am a landlord and developer. Aside from all the red tap to build, the government tax the hell out of RE industry. 30% of the cost to build are government fees and taxes. Rent is taxed at 50%. If you sell you must pay taxes which means I don’t get to reinvest that money into more housing. In Ontario the LTB protects tenants so that if they don’t pay you’re SOL. The people here passionately hate investors like me, they believe I am the problem. All I do is build homes and add to the shortage of supplies but ya I’m the bad guy.
I have 14 new rental units in the pipeline but after I’m done I been thinking of selling everything and move to the US and invest and build there where I am respected and not taxed into oblivion. Red tape for building is least of my worries tbh.
The US economy too is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $400,000 losing value because of these factors and more. Where else can we keep our money?
Well, I suggest you make a diversification plan because it's been harder to build a good portfolio that stays afloat since COVID. Personally, I garner knowledge from a brokerage Adviser whom I work with, and I've actually made over $350K with their help since February. Very effective defensive strategies are used to protect my portfolio and make profits despite the ups and downs.
I find this intriguing. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.
It's no longer a story that the world is experiencing a global economy downturn, I'm so happy that I've been receiving $41,000 from my $13,000 investment every 10 days
Exactly Investing rightly today can save you a whole lot of stress in the nearest future
Wow, that's nice! But how did you manage to achieve all that even with the current economy that's very bad? please I'll appreciate your
assistance on how to go about it, I'm desperately looking for a way to pay up my debts and also achieve my goals.🎉🎉🎉🎉
I can't thank you enough,
Mrs Sophia , you've changed my whole life since I started investing in the cryptocurrency market with you.. you're the only reason why I
have gotten this far in building my finance and also my portfolio to this extent.Add a reply..........
The truth is that, with this recent economy everyone needs more than their salary to be financially stable. The best thing to do with your
money is to Invest it rightly because money left for savings always ends up used with no returns..
I've also earned over $ 550k so far investing in the crypto market with the guidance of this same Mrs Sophia services, so surprised I found people talking about him here, Good man.💕 a story
We are taxed so heavily that I struggle to invest in my company, and the banking and government business support is severely lacking ☹️
I feel that. I'm taxed so heavily I turned the first floor of my house into an office space for my team because I could no longer afford to keep paying mortgage/property taxes on my office (I'm a clinical psychologist). So now my clients meet with me in what used to be my living room lol and what was going to be my kid's room is now the living room.
@Steadyaim101 Its so understandable. The cost of real estate, whether to own or lease has just made having a business location impossible!!
Ugh that’s awful! And nailed it with “quiet quitting.”
@@Steadyaim101 This! Run a successful business pay so much tax that most of your profitts go to the CRA. This reality forces many small business owners to focus on "tax planing" rather than growing the business which would drive innovation, grow the econnomy etc.
Except we really aren't taxed all that heavily🙄 and you bitching about it just highlights a lack of understanding about how macro economics works. You and your competitor pay the same taxes on profits. If it's a service, or product, that's a baked in cost. If you removed those taxes, theoretically speaking you should be able to. Lower prices... Except so can your competitor. 🙄 In reality what ends up happening is prices don't drop but profits increase. If you want to reinvest there are plenty of tax mechanisms to reinvest. The problem is we have made it such that the big guys can fuck with this to the point of stupidity and end up with next to no taxes altogether while little businesses can't take advantage of the same mechanisms. There is a sweet spot for taxes but claim why businesses aren't doing well because of taxes is really just people who promote capitalism failing at it. Removing taxes for your particular niche also means your competition also gets it. If they were beating you before they can't beat you still. The only difference is now there is less to pay for things that your workers and you benefit from like infrastructure, education, courts and healthcare. 🙄 Taxes aren't fun but demonizing them comes from a misunderstanding of how important they are. You think they're done inefficiently fine, no shit, it's a system by democracy. Inefficiency is baked in. That's part of the sacrifice for having a more. Resilient system
I live in Canada. It feels dystopic to live here. Low wages, high rents, astronomically high real estate, and instead of building new cities and/or closing the borders, the government insists upon increasing the population while keeping the supply of housing fixed. It's a joke. We need strong-willed leadership in Canada to build new cities with wide roads and cheap housing.
We don't need any more cities. The cities and the urban lifestyle are the problem. Close the borders sounds like a better solution that way as much land can be kept as unspoiled as possible
Vladimir Putin may help.
We need to have immigration. Our largest demographic, the baby boomers, are retiring en-masse. With birthrates in Canada being below replacement levels, we need immigrants to maintain the same/grow the population.
Canada needs immigrants. What they also need is to get the right type of immigrants, and how to use them properly. I will say they need more immigrants who will start farms in the vast unused lands in the north most.
@@user-xg8yy7yl1d Perhaps closing the provincial borders would help a bit. Also hello fellow BCite.
As a fellow Canadian I confirm what this guy say is absolutely true. U can easily get jobs in US that r 2-4X the salary of identical jobs in Canada… Not to say the Cost of Living in US is at minimum 25-50% cheaper than Canada. The only people who fits well in Canada r the poor, old and children
Not 100% true...incomes are not 2 to 4x the amount and they must pay for medical insurance.
If they average 80 k and we average 60 k how much do they pay for insurance. We are taxed higher...but at the end of the day if they pay higher insurance premiums they might make 10% more...
You guys are forgetting most companies pay for insurance not all but a decent chunk
Honestly the only video on the internet that talks the reality. As a new immigrant, I am shocked at how little Canadians spent on businesses and everyone borrows like crazy to invest in real estate. I ask all my friends is this sustainable?
it sure is, as long as you and individuals like your self keep comming to canada and bringing money and buying flipping ect real estate, it will keep going for ever...
@@tomgold5646 Honestly I am not a real estate investor. I would love to invest in something else that grows the economy and provides jobs, looks like I am in the wrong country. I dont think I should take part in this real estate madness in the country and honestly it is not worth it. Canadians I noticed are not entrepreneurial and want huge returns with minimum effort. Hence real estate. Honestly you are being played by realtors who are the only people making real money in the game. I dont want to part take in a culture that lives in million dollar homes but thinks twice to buy an extra bag of bread. Sorry man thats not the life I am building for myself with my hard earned money. Sorry for Canada though. If your average Joe has no cash to spend and pays everything towards real estate, you are giving zero room for other businesses to grow. You see major big brands closing Canadian operations already.. Honestly whats the point living like a pauper and owning so many properties. If people in this country behaved less cheap, a lot would change here. And as for me, I regret my decision of moving here and wont be here long. Thank you there are better things to do with your life and money..
As a Canadian, I have to say this is a good summary of the major economic issues Canada faces right now. Our current government's polices have done nothing but make the problems worse and people are getting angry.
It's a lost cause, economists have warned every Canadian government over the past 25 years that under investment in research and development and under investment in capital will cause productivity to stagnate. Economists also warned ever Canadian government over the past 15 years that the real estate bubble will lead to private investment capital being drawn away from productive ventures to unproductive real estate.
get angry, its like farting to the govt they could care less.
@@JollyOldCanuck Canadian government keeps giving handouts to those making less than $36K while taxing middle income workers more. What incentive is there to work harder? Might as well work PT and stay home more.
@@fillmorehillmore8239 Are they though? Which handouts are you talking about specifically? Are you saying the Canadian government taxing people making more a larger % of their earning is a bad thing? You want people contributing to the economy, making minimum wage to take home even less of their earnings? Next time you go to a restaurant, just slap the person giving you food in the face, you think they're a lazy suck so why fake not having any hatred you clearly hold towards them?
@@FarChu215 I am not at all for income tax for it creates an environment for overseas tax shelters.
I am pro-consumption tax on a sliding scale.
I've been to one restaurant in the last 3 years so I have no need to slap anyone which you wrongly assume I would do. I pay for good service in other aspects of life.
Minimum wage isnt a good thing either. It incentivizes minimum payment across a wide range of services vs people getting paid according to their productive ability. There are countries that do no have minimum wage, so they negotiate by sector or by union.
Minimum wage in Vancouver vs some town in the middle of nowhere mean very different things for their economies dictate different compensation for work done.
This hits close to home. In January 2022, during a fourth pandemic lockdown with home prices reaching astronomical numbers. I decided to give up and start the process of working in the US. As a nurse in Ontario, I was making $1000CA/wk after taxes. In California, my current take home pay after taxes is $3200US/wk. I could never imagine going back now
A lot of American nurses I talk to speak about low wage Canadians driving down wages but raising your income that much is a no brainer
@@RoCK3rAD I doubt it. We are probably the 6th or 7th most prevalent foreign nurse demographic behind Filipino.
This is literally the first time I’ve ever heard a story about someone moving to California and seeing their standard of living improve dramatically. Ontario must be nightmare fuel if 2023 California is a beacon of hope.
@@hornetguy9063 the rent in Toronto now comparable with the rent in San Francisco. But wages are higher here and taxes are substantially less (despite it being one of the highest taxed states in the US). Go figure. And yes Ontario (and Canada in general) is in shambles, which is sad considering that never used to be the case.
@@robleblanc2158 yeah that’s nuts. I laugh to myself whenever I listen to Americans blather on about how their life would be so much better in Canada. I welcome them to try it out. Hope they have enough cash on hand to buy a home outright, though, because that seems to be the only way to keep the costs down
its getting bad here man. Every downtown sector with a population over 100k has a major homeless/drug problem. Theres no opportunity to live...work? yeah, live not much...
We face brand-new obstacles every day that have become the norm. We now recognize it as the new normal and must adjust even if we once saw it as a catastrophe. How can we increase our income during this period of adjustment given the present economic challenges the nation faces in 2023? I worked hard to earn my $680,000 in savings, and I cannot let them disappear.
I'll suggest you find a mentor or someone with experience guide you especially in this downturn. especially for your portfolio diversification.
@@maiadazz true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@tatianastarcic I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
@@tatianastarcic just copied and pasted her full name on my browser, super impressed with what I've seen so far. thanks for sharing!
Understand what money really is. Money is simply a statement of equivalent value of goods and services.
Suppose we have this oversimplified sample: 10 people 10 apples and $10 -> there is $1 for 1 apple
10 people 10 apples and $1000 -> there is $100 for 1 apple
10 people 0 apples and $100,000,000 -> if there is 0 apples, what is the value of $ if it buys nothing?
10 people 10 apples and $0 -> can each of the people still have 1 apple?
so the question is, who can print money? the people or the government?
who can increase the production of goods and services? the people or the government?
what of these two factors can you influence?
Therefore, I recommend that we should invest in goods and services - that is invest in production of goods, and increase our social capital by making all sorts of friends.
Because the government can print money anytime and cause the value of your savings to go haywire, but if you have expert friends you can trade for skills and products at their actual value.
Also, as a Canadian I would never invest in Canada
Brookfield is a good diversified investment though, it's similar to buying berkshire hathaway. Lots of good stocks listed on TSX. Green energy stocks like NPI for exemple
@@cicatrace I hope they have oil stocks
@@cicatrace NPI did perfom like shit in 2023 tho, but that saiad, to be fair, every major market as perform like shit except crypto... intresting.
@@yvesgingras1475 Yeah it's just the liquidity getting out of the system, making weak hands sell at a loss most likely. Which is a good thing for people who still have money and are waiting for discounts.
I did start a few long term positions in value stocks with big dividends lately, BAM and NPI being some of them :) I also took a small position in a Canadian bank stock (TD)
@@cicatrace From my point of view both BAM and NPI seem like strong pick, TD is way riskier tho. But as a Canadian bank, its less risky than any other country bank stock. I have those 3 position TD being my smallest and NPI being my biggest.
Making money is an action, Keeping money is behavior, but "Growing money is wisdom"….
You are right, to be a successful person in life require him or her of hard work and time
The thing about been successful is working toward it and not going the other way round
It's obvious everyone is doing this online Investment
@@Perla.pagoyo I totally agree with you it has been an eye-opening experience for a lot of people.
Talking about been successful. I know I am blessed if not I wouldn't have met someone is as spectacular as Stacy Garric
Well made, it is basic, but it summarizes the Canadian economy in a nutshell. I remember many years ago showing my friends a house that I loved and wanted to own someday. my friend said to me "oh, you'll have to win the lottery to buy that house" That statement perfectly encapsulates the attitude and belief system of most Canadians; success is literally a fantasy.
What we are seeing global inflation. I saw it in the news that most countries are all competing for parts, products, food etc. Even nations that managed their rates better are seeing major issues. The glut of money was an issue sure, but the surging demand from nation that re-opened from covid lockdowns played a larger role. Add to this pandemic-related staffing issues, Russia-Ukraine Conflict and the intentional global oil supply problems and its a nightmare.
U.S inflation hit 7% in December, fastest pace since 1982 . Consumer prices in Germany rose by 3.1% in 2021 . France shows a 12 -months inflation rate of 3.4% the highest since September 2008.
I think we need to stop softening the blow with the word “recession”. This is going to be a depression. 4 top economist agree on this. When the market reached high in mid 1930 it took until mid 1932 to reach the bottom. people can’t buy when they have no food, the trucks don’t have DEF to mix with the diesel to run (in all diesel trucks newer than 2009) No trucks-no food-no fertilizer....
Please, could you pass along your analyst contact info?
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her..
lord visnus 10 avathar is still not come
The Govt is not stable and we have never experienced such a concentration of power in the PM’s office, the growing number of controversies in this office and such division caused by this office. No wonder many Canadians are leaving. We have one more opportunity (2025) to correct the course of this nation. 🇨🇦
How when voting is rigged, they're slected not elected!
Voting is a joke
It’s called socialism. Trudeau has been tought by world marxists to dictate communist rules and regulations. Biden too.
we won't get that opportunity.
The US is only better temporarily. We have the same woke idiots that have erased the border entirely, they seem to be actively trying to start a war, and the endless climate/gender hysteria you hear from Trudeau. My prediction is they will do everything necessary including cheating to win the next election and then change all the voting laws to make sure they never lose again. The US is going to Canada 2.0 soon enough
One of the best videos I've seen articulating Canada's economy in comparison to our older brother counterpart in America thank you so much for this
“One of the least corrupt countries in the world” I had no idea the bar was so terribly low.
Considering how many scandals pur govenment has had on a consistent basis in the last decade, I am very doubtful that we are one of the least-corrupt countries. I would like to know the criteria
Right!!!
If you think Canada is really corrupt I got news for you bud
On the whole, it is. In the Trudeau administration, not so much. For example, I lived in Turkey for a couple years, and regularly had to pay bribes to the state services centre to keep my residency card. When I tried to leave in 2016, turns out they were taking my money and didn't update my residency anyways so security held me at the airport for 12 hours until I paid another bribe to leave. That was considered normal and raised no eyebrows among my Turkish friends but would be completely unheard of in Canada. The bar is incredibly low, even in developing countries corruption is so normalized that its just whatever.
I legit came here to comment the same thing. Our current government is corrupt as fuck..
Totally agree. More business investments is much needed in Canada.
Trudeau must go then...
Exactly not happening with Trudeau.
Canada in general has so many restrictions that it makes business go elsewhere. The government acts like a union for the whole country - you get no say if you want investment or not and the government decides some moral reason to drives investment away
Canada is not business friendly at all even less so Quebec
When I talk to Canadian friends about buying stocks they usually laugh to my face. Then they buy crypto at the top 🤣
Awesome animation and great explanation 👏... Big fan of this channel...
In Canada we have a term for this: Justinflation. Thank you PM Justin Trudeau!
For all the talked about housing market problems in China we have our own distortions in our Canadian market that are dragging us down to. I sold my home 6 years ago (75% paid off) and left for an overseas work experience. When I came back ,my nest egg, even with a little stock market growth would never allow me to purchase the equivalent of what I had. While I was gone prices had gone up well over 50%. To acquire another home would be like starting all over from graduation. Homes should be for living in!
Very true. The problem that Canada has is there is getting to be a large portion of people that have taken our wealth for granted. This generation has forgotten how wealth is created, so much so that when any projects are proposed there is automatic opposition to them. And the opposition is given so much credibility that many projects never see the light of day. Canadians are the kings of missed opportunities.
Seeing how the fumbled the Cannabis industry... Can't deny it
Canada is where innovation goes to die as it is taxed and minimum-waged into obscurity
Well, opposition to new projects and development is a multi-generational phenomenona. I doubt the 'this generation' you're referring to is solely responsible for all of Canada's woes. Though it's definitely easy to use them as a scapegoat.
@@jamesclarke2789 well who is responsible then, the martians?
The town I went to high school was a sleepy little retirement community and my grandmother and her generation opposed any large businesses from coming into the town not wanting them to kill the smaller businesses, so those businesses went to the neighboring communities. Now my grandmother and her generation are almost gone, the town is slowly dying and those businesses they fought to protect died anyways.
I wish Canada did more R&D. We have the talent and brains to be innovative, yet so many of us go work in the oil & natural gas sector because it pays handsomely.
Also to live in the most scenic provinces like BC and Ontario is crazy expensive. We moved from AB to BC in 2009 which my parents bought their house for $550,000 that's situated 40km East of Vancouver, and today their house is valued at 1.4 million... almost 3 times the original purchase price in just over a decade. Now an adult, my wife and I were forced to move back to Alberta and leave our families because we simply cannot afford to rent there nor ever have an honest shot at saving enough money to buy our own place. It is what it is and I'm sure it's a common theme that's not only exclusive to Canada, but man, it does sucks. I'm happy for any immigrants to move here and call Canada their home too, but many are loaded with money and purchase numerous properties just to then rent it out at an absurd rate because they can. It's fueling the problem worst and making it unfair for the born & raised Canadians.
I am 4th generation Canadian and have always been proud of it. Now with what Trud-o has done to our country I am ashamed to be Canadian.
You lost me at "giving a nickname to a public figure to emphasize how I dislike them".
As a Canadian I’m thankful to have grown up in such a great place. But it still bothers me to how little our growth has been. Canada has every tool required to be a fully self sustained global powerhouse. Yet nothing has been done to achieve this goal
it actually does not have the tools to be a global powerhouse
@@VegaTakeOver It does, except, it doesn't have the leaders who know how to use them.
@@robin_4683 not really it cant be a russia or china but it can be like an ireland it doesnt have what it needs to be a global power
@@VegaTakeOverit has oil and a shit ton of natural resources. It has the best shipping route in the northern west passage which if dumb pansies got outta the way in Ottawa could become the worlds newest better Panama Canal. They could build way bigger ships which would reduce cost of shipping and allow way more goods shipped and also it’s a shorter distance than going through the Panama Canal to Europe or parts of Africa. If we as a country had a competent leader and not a drama teacher that can’t answer a question then maybe we would be
@@VegaTakeOverCanada could make big deals with there natural gas reserves and reduce the worlds CO2 emissions in countries that don’t have fuel for fuck sake but oh well, we’ll never know. Canada should be building a strong navy to patrol our borders aswell
I live in rural Newfoundland. At 23 years old i was able to buy a house for 239k with a 12k down payment. I was only able to do this by saving my money since I started working at 17, although when i started working and saving i never thought that money would go to buying a house. Anyways my point is I was only able to afford this home because i lived with my parents until i bought a house and they were kind enough not to charge me rent, all i had to do was pay for groceries and help out around the house. However paying over 200k for a house in a small community that only has a hardware store grocery store and a gas station with the nearest town that has anything more than that being a 45 minute drive away via highway is insane. I am by far the exception in this generation rather than the rule, and I wish our housing market was better so that people could afford to buy homes without having to luck into such favorable conditions like I did
A HOUSE for 250k? Goddamn. That’s like 2001 prices
@@danielstory2761 yeah but in 2001 that house would be located in the suburbs of Toronto not in a backwater fishing village in newfoundland lol
@@AvirekzFrostif you can thank immigrats and their desire to make profits the easiest way for that. And anyone who refutes that evidence based fact is a deceptive lying rat. Cus it sure as heck was not local Canadians pouring those 100s of billions of dollars from Asia into Canada and BC and Ontario real estate, it was dual citizens of Honk Kong and Canada and or China and Canada and or middle eastern nations and Canada or India and Canada...And that is about it. Cut the crap....everyone knows.
I came to Canada with big economic dreams, but Canada has so laid back attitude when it comes to economic development. This country is good for retired people only 😄
and Trudeau
You have to be rich retired people to live here
At the very least, I now grasp the concept of leverage.
Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Most people simply enter the foreign exchange market without comprehending matters like this.
The first stage in building money is determining your goals and risk tolerance, which you may do on your own or with the assistance of a financial counselor who works with a verified Finance agency. And also you can learn the facts about saving and investing and create a clear plan, you should be able to acquire financial security over time and enjov the benefits of income management.
That is why I work with John Desmond Heppolette, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made.
You are correct! Working with a financial advisor who has worked in a solid financial firm for a long time, such as John will actually set you up for success in life. I'm delighted I was able to reach out to "John Desmond Heppolette" earlier this year because while others were grumbling about the downturn in the markets due to the state of the economy, I was busy learning from him and eventually made over seven figures in the first quarter alone, which is why it's always good to join the correct community.
Yeah real, that guy is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience
Please who is John Desmond Heppolette..?
This is a very well made short video. Canada needs leadership that is bold enough to think about Canada's interest and plan for the long haul, rather than just content collecting money from land title transfer.
You are bang on with your assessment. I am now retired but spent my entire career in the private manufacturing sector. Because of poor economic policy, I have watched the decline in the manufacturing sector to which I have been screaming about for the last 20 years. You cannot be a service only oriented economy which we clearly are moving toward. The last 8 years have been extremely the worst with the current Liberal government in charge - Canada needs better leadership and Trudeau clearly is incapable of providing it. It's not too late! The structural bones are there, we just need smarter people in the government to provide the right economic stimulus to make it happen.
He's been steadily expanding the Liberal voter base through immigration. They may be unbeatable at this point
This is a fair assessment of Canada. Canada has many problems, but the general trend for our economy really is that the cost of living, and most of that is housing, some of that is high taxes, is too high. Since it's so costly to live hear you basically need to choose: 1) do you want to buy a house or 2) do you want to invest in anything else? It's that expensive. I don't own a house, but I run my own small business. I'm one of the only people in my peer group who chose to do that.
The other half is taxes. We tax our top earners around 50% (income tax). But selling your home is tax-free thanks to the primary residence exemption. See what I mean? Why would you invest in a business or get a high salary when you'll be taxed to hell? Why work harder and keep less than you should, when you can just buy a house, ride the market for 20-30 years and then sell it for your pension?
The other side of this equation is who will lend to you? With an absence of private capital, you look to institutional lenders: banks, credit unions. Getting a mortgage to purchase a home? No problem, so long as you meet the stress test. Loans for a business? Woah! Slow down, Chief, not so easy to get one of those. You'll never get one without a personal guarantee, a general security agreement over all your stuff, and possibly a co-signor. It's hard to get funding for a business if you don't already know some wealthy people who are willing to invest into whatever it is you're doing for your business.
Canada's economy can be spurred but we need more competitive policies and lower taxes on income, and frankly, making the sale of your primary residence tax free may need to change too. We also need to shrink our government and have the government actually do the things we need it to do - like build a military, and allow for easier resource extraction. Presently Canada's federal government is run by a woke idiot who couldn't run a lemonade stand on a budget. Our policies have never been less economically friendly, and we're taxed more than ever in history.
I disagree with the corruption being low. It's quite high, but you need to know where to look. You need to know that corporate welfare is quite high even though individuals are taxed so much. You need to know that our Indigenous communities have no financial accountability, despite being given millions, they tend to squander it with no paper trail. Our political elite are always appointing relatives and cronies to key positions. Our main industries: oil & gas, banks, insurance, real estate, and telecom are run by a few "oligarchs" and have the guise of being heavily regulated, when in fact they can virtually do whatever they want. Quebec and Atlantic Canada get federal funding for things that the other provinces have to pay for themselves, which is done primarily to buy votes with taxpayer money. So, corruption looks low to the outsider, but if you know how it works here, you realize billions of tax dollars go missing every year and there is nothing to show for it... it just vanishes. Except money doesn't vanish, we have plenty of people close to or in the government that get rich just by being connected.
So, there's Canada in a nutshell. The incentives are in the wrong direction. Our governments want you to buy housing while simultaneously making it less and less affordable with rampant immigration and no investment in infrastructure to match the housing. Corruption keeps the backwards policies in place. We need a prime minister who understands money... maybe we'll get one soon, but we could be stuck with the present regime until 2026 if we're unlucky.
Thank you for translating the figures into freedom units.
Australian here! the most amazing part about this video was the fact that 17% of Canada's GDP come from mining and the wider resources sector. Australia often gets put down in the world of economics for being too reliant on mining even though Mining only makes up 10% of our GDP - wishing Canada the best of futures from your southern counterpart, Australia!
@ECON pls do a video breaking down Australia's Economy
Being reliant on Mining and similar sectors is a bit of a problem. With how it causes Dutch Disease and all. It baffles me on how half the people here in Australia actually think our mineral abundance is a blessing, when in reality it stunts our ability to diversify our economy.
@@jamesclarke2789 Australia is like Canada, only worse. Terrible, talentless, visionless government, high taxes to pay for all the bogans and their huge families, massive expenditure on professional sports, reliance on exporting one commodity to one customer (also our biggest enemy), real estate gambling, interest rates too low for too long, rewarding debtors while punishing savers, a few big corporations who collude instead of competing, importation of skilled workers and professionals because our culture discourages academic excellence, news media that are propaganda mouthpieces for their respective constituencies, and my biggest complaint of all, our retirement system that vacuums up fees at a rate bigger then the GDP of many small countries. Oh well, at least our weather is better than Canada's.
@@jamesclarke2789 if you have a competent government who uses the money from mining to help diversify the Economy you avoid most of the problems but you need competent officials for that which never happens
@@jameson1239 rightly said
Canada fared well through the GFC because it doubled down on housing. The economy is built on mortgage debt.
This is the best summary I could conclude from the video and the flurry of comments!
Yeah, basically Canada just has to hope that people are willing to wait until their parents die in order to inherit their home
Amazing material and amazing channel!
As a 25 year old woman living in one of the most expensive cities in Canada, i thankfully have affordable rent and a job with good work life balance and zero debts, but I find saving and getting into the housing market a task more difficult than climbing Mount Everest. If I could get a house my risking my life climbing that death hill, I would, cause it’s much easier than being in a 90 year mortgage which what the government seems to think is a ‘solution’ I’m just about ready to move to the US, where my chances are better 😕
The greatest obstacle to the Canadian economy starts with T and ends with U and has 5 letters in between.
I thought it starts with C and ends with an O with 4 letters in between
Funny, because the provinces are autonomous in most of their affairs. Can’t blame the feds for everything.
There's a famous old story (told in many versions featuring different celebrities) that George Bernard Shaw received an unsolicited marriage proposal from a woman who wrote that she was the most beautiful woman in the world and he was the most intelligent man, so they would have beautiful intelligent children. GBS wrote back asking -- but what if the children inherited his looks and her brains. FWIW, I think Justin inherited his mom's great looks.
@@alkriman4182 ok..? The PM is just Ok like any other shitty politician. They’re all shit mate, but I sure as fuck don’t trust a conservative whether I’m in the UK or in Canada
@@alkriman4182 Trudeau inherited all of his mom's brains ... which is to say ... not much.
Canada in a nutshell :
Bombardier, biggest aircraft manufacturers in Canada has received less public funding in its entire life than Boeing in just 1 year.
Let that sink in.
Canada also has 1/10 the population of the US but yeah we really don’t support companies here which is odd considering most of the stuff our government buys being atleast partially made in Canada is a requirement.
I use to think its time to abandon this sinking ship named Canada but for some reason this video and the way the voice explained things made me realize, why don’t i try to solve this issue at an individual level and teach others here it can be done. I will start my business and hope for the best. Thanks for the video kind voice!
Thanks for the very informative video. I just got back from a week in Vancouver and saw so many drug addicts and homeless people when I drove through East Vancouver on my way to Gastown. Years ago when I drove this same area, I didnt see this problem. What the heck happened? Is the U.S. rubbing off in Canada. Crime, drugs, homeless people, and criminals seem to have migrated from the U.S. to Canada. Anyway, I was contemplating buying a house in Coaquitlam and retiring there for 6 months out if every year. Now, my eyes are open to what it would really be like. Still better than the U.S., crime wise, but the prices are high. Gas equivalent was $7.50 PER gallon. Food was more. Walmart was more. Starting January 1, 2023 no foreigner can buy property in Canada for 2 years.
Canada used to be a great country. I have a very hard time saying that it is today. The government focuses on the wrong issues and taxes it's people to death. There was a time when $100k used to get you somewhere. Nowadays, it gets you a modest house mortgage, and one vehicle with just enough left over to put some food on the table.
So spot on! House of Commons should watch this video 10 times and act! What's the point of being the most educated nation when you lose all your talent to US. Innovation should be highly encouraged by the government and any new tech/science companies that produce value should be paying way less tax to stay and continue generating value in Canada. Canada has great universities and losing all its talents to US, so not acceptable.
I haven't seen the makeup of the Liberal party, but I would bet it's about like Democrats in the US. Only a small % of them have any business experience or have even worked in the private sector. They have no idea what it takes to make payroll every week and keep a business going. As a result they see business as just a cash register to keep the public sector well-funded, well-paid, and set for life in retirement.
Great, informative, well researched video.
Thanks for the analysis. Jarvis.
You look at how many businesses went out of business due to our high taxing. Poor government decisions for 8 yrs is crushing Canada
Taxes are on profit... Not revenue. Maybe you shouldn't be in business?
@@noleftturnunstoned yes but the owners are taxed on how much they make which for small businesses can really fuck them over
@@noleftturnunstonedyour definitely part of the problem and not to bright
@@jameson1239 exactly and carbon tax on farmers as well
@@jameson1239 How so? 'Everyone' pays taxes on income.
Canada is horribly corrupt, and the perception of its fairness is shifting. The company I work for (mining) had to fight for years to get a permit to work from the provincial government, and won. The very next day after the permit was issued, the CRA (Canadian IRS) audited the company and took away the project's funding. People are going to starve.
You clearly have no outward view or understanding of the rest of the world. “It’s one of the better devils.”
@Nick Gendy Unfortunately, I do, much more than most. I expected better of Canada. Enjoy the slow degradation to the 3rd world!
@@nickgendy1757 Why do people like you defend this shithole dude? It’s actually not that great by all metrics. The only thing that would make it as bad as other countries is that we don’t have sky high violence and even that is changing
I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can't be more proud that am i now. I'm glad I made great decision about my finances that changed me forever but now I can't seem to make any other smart investment.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
the market is profiting if you are using a good broker or account manager to help out with trades or provide signals
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Her success story is everywhere. I keep on hearing expert Mrs Naomi's name being mentioned here and other platforms, Does she really worth the credits and reviews?
Great video my friend. We had a dream for 12 years of retiring in Mexico. In 2021 we made that dream a reality. Cheers from 2 Canadians 🇨🇦 living in Mexico. 🇲🇽✌🏼
The only question is how big is this bubble going to grow before it pops!
I think we are reaching the upper-limit. The bubble will pop in the next few years.
Over 50% of Canadians have less than $1000 in disposable income, while the cost of living is increasing. Canadians hold on average $21,000 in non-mortgage debt, while credit card debt is rapdily increasing, as much as +16% from mid 2021. This is a national emergency.
@@SofaMuncher but Trudeau said that was good? Like literally said credit card debt was good ???
It honestly concerns me that the current gov and BOC keep looking for ways to kick the can down the road.
it would probably never pop. I was reading so many predictions of a real estate bubble bursting back in 2008. it actually popped in the US, and not really in Canada.
The thing is that inflation slowly decreases prices. Let's say we have 20% inflation over 3 years (inflation is high now and doesn't subside much), and we also have a 10% decrease in real estate nominal prices. This means a total 30% decrease in the real value of properties
@@mijas-rus2715 The bubble will pop when the supply of immigrants comes down. With average house prices being over 500k, very few immigrant families would be able to come in an afford that kind of a house. At some point, the bubble will burst. We already see a massive fall in housing prices in 2022. Housing prices also fell in 2018 too.
Fix the housing problem, everything else will get subsequently better.
You can't fix the housing problem. The only thing that has changed in 75 years is the level of government involved in housing. We have the same land, natural resources, and skilled trades. There is no way government will reduce the level of requirements and restrictions they have put in place.
@@ickster23 You could stop immigration, it would reduce demand.
Only in your dream