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Mark Carney on how higher interest rates impact Canadians
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- Опубликовано: 12 авг 2024
- Former governor of the Bank of Canada and now UN Special Envoy on Climate Action and Finance Mark Carney told CBC’s Rosemary Barton that Canadians deserve to see their wages growing faster than inflation - so they can make financial gains.
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I always appreciate hearing the opinion of a banker on matters of science.
@D R And Poilievre is an incel moonlighting as a Career Politcian😂.
@@Sam19509 err.. "incel"?!!?? He has a wife and two children... Maybe ask your mom to have the talk with you.
@@dr8591 Considering the illogic of @sajeeban1's last comment, I don't think he has the life experience to put two and two together in this domain of the human condition.
Finance is fundamental to a capitalistic nation like Canada. The costs of climate change and the work to fix the issue has much to do with finance. I welcome leaders like Mark Carney.
our PM was a drama teacher 🤷♀️🤷♀️🤷♀️
So was PP being an alarmist 2 years ago when he said the government printing money was going to cause inflation
Yup
It depends on one's perspective. If you're a high income asset-have then you've come out whole or ahead, so yes he was absolutely being alarmist. If you're a low income asset-have-not then you've seen your purchasing power permanently gutted, so no, he didn't sound the alarm loudly enough.
Yes! Right now you may think he’s right but we are expected to continue with deficits so under his financially illiterate view inflation should continue to increase. So if inflation returns to 2% inflation which is expected to happen 2024 then he was wrong which he is. PP has never studied economics his view on economics carry’s no weight
No. Pierre was right.
Carney is a Goldman Sachs protege. He has never had a real job so how would he know anything outside banking??
Lol he was Deputy Minister of Finance in the Martin and Harper governments I think. And he was so good at his job Harper personally appointed him BOC Governor likely under the recommendation of the Late Jim Flarety and his personal interactions with him😂
Lol he never had a real job? 😂😂
Carney is well known in the UK for not knowing what he is talking about.
too bad for britons you invited him!🤣
@@teruotsujinaka5593 He turns up and drops the nonsense comments on his own account.
Just like Trudope and Singh
@@Mikkee453 I do not know whom you are referring to. It is always better to use real names.
🤣🤣🤣🤣
He is a finance person not a climate expert. He is really good at regurgitating stats and I'm sure he picks and chooses the stats that he likes to quote.. If the oil and gas emissions of the energy sector of this country are 25% of our emissions, what percentage of our GDP is that industry and using those numbers then how important is it to keep that industry moving forward without decreasing its production. If Canada produces less th% of the world emissions. If we decrease the emissions of that sector this will not make a real impact on climate change and everyone knows that. Other countries are increasing their emissions by much more than that annually. We should not sacrifice our financial future for this kind of result.
Canada is being sold out by following polices established by the World Economic forum.
DE-FUND CBC NOW ! ! !
We don't need to be spending 1.2 billion dollars on biased state-run television
With all due respect, you challenged his standing to speak on the basis of his being a financial expert and not a climate expert, but then proceeded to offer strong views on both the finance and climate aspects of the problem. So presumably, either you are both a financial and climate expert, or you have sources from both finance and climate experts to back up your claims.
In other words, no one is accountable for this debt-based abomination of an economy. Not the Central Bank, not the Politicians. Everyone playing not-it.
State funded media.
You can’t raise your rate out of a housing crisis. We need our leaders from every level of govt to do their job and build more housing.
That is easier said than done. You can’t build more houses to drive the housing prices down when labor and building materials are so expensive, most of the time people have to wait long time for building materials to be shipped. It is taking a lot longer to build a home these days.
You can’t house build your way out of asset inflation
@@RYANG-qd1mv our city councils adds fuel to the trash fire with their long winded process and demands for community contributions. If I need to hire a permitting consultant on top of an architect for a renovation, you know something is wrong with the process.
Obviously, the Bank of Canada and the so-called professionals failed miserably to keep a steady economy and lots of average working Canadians will suffer for many years to come.
All the covid (and prior) excess consumption that was funded by massive new public debt, that was in turn enabled by massive central bank QE programs, is now being paid for by massive loss of purchasing power by our most vulnerable consumers. That, while wealthy asset-haves remain whole, or come out ahead. All predictable. Nice system we're running here.
How is saying that a lot of Canadians having a crisis when they renew their mortgages at a much higher rate is not grounded in fact? Is he mentally sound?
Maybe wages wouldn’t be so far outta step with inflation, if our government didn’t spend the last 40 years making unionization essentially impossible or illegal, in slavish service of big business.
DE-FUND CBC NOW ! ! !
We don't need to be spending 1.2 billion dollars on biased state-run television
Climate change is a global issue. You can’t stop producing petroleum products within your borders and claim fewer emissions if you purchase those same products elsewhere. Reducing emissions in one country and increasing them in another does nothing but signals how “virtuous” you are.
I understand that the oil sands is not the “greenest” form of extracting energy from oil products, but it is reliable, relatively inexpensive, and creates good jobs.
This guy was governor of the Bank of Canada from 2008 to 2013 and the governor of the Bank of England from 2013 to 2020. He started Canada down the road of massive debt. His policies fueled housing inflation in Canada and England.
He was all in on quantitative easing at the Bank of England. Unfortunately Canada jumped on the QE bandwagon too during the pandemic. And we got a housing bubble in return.
Don't speak about debt with an ukrainian flag on pp😂😂
@@user-pn2ni1sv3i what part of my statement do you disagree with and why?
He actually prevented Canada from crashing like the US did in 2008.
@@solomons5669 Canada's successful weathering of the 2008 GFC was because our banking regulations are stricter than the US hence our banks where less vulnerable. The BoC governor had little to nothing to do with creating those circumstances.
LOL I want back my taxes that were wasted for this garbage media.
Half of the CBC's budget goes to feeding Barton. That's a big broad
Over paid CBC hack ,time to get rid of the CBC and use the billion dollars to build some affordable housing .( Geared to income ) no more FREE rides folks .
A typical elitist. “Canadians deserve…” but causing them pain anyway.
INTEREST RATES NEED TO GO EVEN HIGHER. INFLATION NEEDS TO BE FULLY WRUNG OUT OF THE SOCIAL PSYCHE. NO QUESTION.
The guy who is responsible for our housing market being over invested by keeping interest rates too low for too long and he's cautioning on high interest rates. 🙄🙄🙄 You're the reason we're in this mess. It should have been eased higher earlier when the US was doing it. You can see the Canadian housing market is still in the same housing Bubble from 2008 today.
This is all a smoke screen, more middle class Canadians have become the "working poor".
The days of a decent life, for the average person is quickly eroding and we should used to
a much higher percentage of people living in poverty in Canada.
Great source on climate change , we’ll done CBC
Thought I'd check-in as usual nothing burger.
Rosemary Barton seems frustrated, irritated, and impatient as an interviewer. "... yup yup... sure... yup..."
She hates ĥer job, but loves the salary.
She is a political hack and is part of the system
She does not seem well.
sadly she is happy being news caster😎
Why aren't we discussing how all measures to reduce inflation are focused upon punishing the labour market for wanting wages to match the demand for labour and nothing is being done to punish Capitalists for brutalizing labourers for their profits?
Yes we can reach net zero. The technology is already here and we are expanding. Alberta has the largest Carben sequestration project on the planet. Wildfires??? They are a natural part of the boreal forest. Jack pine, lodgepole pine and other trees need fire to reproduce.
He has a really bad case of dunning kruger effect.
7:32 - anyone else notice that they cut this part?
exactly and on the most crucial question. He probably messed up the answer and they had to redo it, not a good sign at all.
Carney and Rosemary sitting in a tree, k.i.s.s.i.n.g.
Carney is happily married
@@Sam19509 it's over you're head
@@Sam19509
really?🤔
We should hold Trudeau responsible for his crimes
One so called expert knows how higher interest rates impact ALL Canadians 😂
So we have two people here talking about climate change and inflation ( one who is a 1% and the other is a CBC hack ) who over paid on the taxpayers dime! So Carneys carbon footprint is just like his buddy ( JT) ,fly all over the world on private jets and in the same breath tax’s the common folks up the A** to pay for their premium life.🤢🤮🤮🤮🤮
Professional Banker or Drama Teacher. Great Choices we have.
If climate is a major issue, why do we have a banker in this position.
And, central bankers don't exactly have a good track record on maintaining 2% inflation, now Mark thinks he can manage the world temperature🤦♂️ within fractions of a %?
Government bending rules to bypass the desired result of raising interest rates.
smooth talker like this guy !
I think we must admit ourself "how dumm" we have been these years😢
I still don't understand why the OCD on 2%. Why would 4% hurt so much more than 2%?
the effect compounds over time
Because too much inflation is not economically stable. From the BoC: "When inflation is high, consumers, businesses and investors are uncertain about what their costs will be from one day to the next. High inflation is often unstable and unpredictable, and that keeps the economy from performing at its best." The higher the rate of inflation, the higher the uncertaintity (aka risk) about future costs. Inflation is the result of funding consumption, with "printed money", ahead of production.
Thinking about it in a non-abstract way: can we have a stable economic system if we are collectively expecting to consume at a rate that is in excess of our production with no expectation that it should ever come into balance? Of course not. But, that is exactly what our expectation is if we tolerate high inflation rates and low interest rates at the same time. So we either target low inflation and commensurate lowish interest rates, or we let inflation run higher and tolerate high interest rates (the balancing effect), or we find a happy medium... which current BoC experience suggests is around 2%.
Not a fan of Rosemary Barton being a host or a one-to-one interviewer. She doesn't seem have the calm and tact when posing questions, nor the charisma & body language of other top-notch female journalists such as Heather Hiscox, Downa Friesen and Lisa LaFlamme. Just my two cents.
Time to defund CBC and especially this news anchor
is she okay? her voice sounds rough.
Choking on the 5th croissant she ate?
and what's the correlation of warmer climate and wildfires? does warmer climate correlate with more rain? what scientist is claiming that these wildfires wouldn't have happened without climate warming?
Smart guy, but even Carney is tripping over his own tongue when it comes to talking about mortgage rates. There is actually a simple solution to fix this, but no politician has the power to make it happen, we the people do have that power, and will.
Mark Carney should make like his name and run away and join the circus.
You are already a politician
Hmmmm, he’s head of a massive hedge fund that could be able to make policies to enhance his wealth. That’ll be awesome for him and the fund.
We need double digit interest rates
We need to DECOUPLE wages/jobs from basic survival because desperation fuels revolution.
It's FAR PAST TIME for Unconditional Basic Income. The "market" has ALREADY FAILED.
One solution of all problems..remove Justin T...all problems will be solve😂
I like this guy
Yeah but that hike was always gonna come after the pause it had to. The next most important part will occur after the defeat of inflation. When inflation returns as it hits a number that they already have in mind they'll react to the data and in that moment it'll be over. The expectations will be adjusted as they begin to understand the CB's are hanging above them and the psychology will change plus the affect of their tool will do its job.
Hopeless
I think he has no quality to talk about real people's money!
he never been elected by the people directory! he is a trained skimmer period. 😎
lol
Sherborne County? Too much time in Gloucestershire not enough time in the Maritimes. Disappointing.
He’s amazing
i always hearwe need this we neex that what bout us people that have notjing still helpin u morr then anyone r u gonns lesve me out to i think so i dont see u being sblr to fiz all wordly issue all at once ur rgo is shrinkin just put thr cape down n give me a chsmcr to be who i kno i am n let be the 1 to guide humanity eaually as a whoke only u the peole can helpbrinf me in the scenr cuz now i jusg see a whold world speakin as me fof me n im hearin it nice to see ur learninf but im prepared i have 33 year of this ezperience n llus longer lolol
Apparently a lot in the comments are unaware inflation means the economy is doing good….
Double speak
@@charlenefrench5404 tell me you don’t understand capitalism without telling me 😆😆
@@rhodalemay5182 this is the end of capitalism.
@@rhodalemay5182 now we will enter international communism/technocracy/plutocracy/ authoritarian dictatorship? Let's hear what you think?
Where did you get that impression?
Carney will be a disaster for Canada, let us pray he never enters the political system, if he does vote him out...
Please Mark run from Prime Minister 😊
Simple concept pay people to stay home get rid of cars
I really hope Carney is our next Liberal PM
I know Mark quite well. He is a fantastic guy, but he is a WEF member.
@@nothappygilmore7634ok what’s that have to do with anything?
is that right mark carney u sound similar to s frirnd i kno name csrney hayden lolol dont grt shead of urself now we all eanna br a leader csn u really tske my roll i dunnonif ur rwady for that yet whenevr u get brewk the time n be timeless like this it eilk never be possible to stay ahewd of me
yes please tell us how u cohod do that mark i wana see gow good ur exoerience as a leader wlhow that wouod be see if ur deem fit or just oike the rest of the corruot who knows well find out lololol
i love wstchin 7 guys grow lol watcj out mark i built my woman very powerful god like human wit the power of my sbility to shrink the ego od a man reslly wuick i thimk sbe shown md that clary so i domt need to wurry bout this woman i see she knkw what she doing i appricste thsy to give me thr sensd of knowin everything will be alriht n i csn movr on to the nezt ssfetty meeaure lololol