I’m a little behind but I felt compelled to comment and am happy to see that many others feel the same. Rich killed it. Such a good rant brother. These lunatics in Ottawa need to go ASAP. Sending my support to Alberta from Toronto.
Rich KILLED it on this podcast… sometimes Rich annoys me when he laughs at nothing but he slayed this time, especially when he rants about oil, it’s really good and unique commentary
Sometimes he's annoying but Keith is always trying to make Rich laugh with his not so funny, much too often weak jokes. Keith is also better when he's not trying to be funny guy way too often.
Sam Cooper is doing the real hard work for Canadians, get that guy on the pod to talk about the money laundering and political corruption we have in our country. It's a serious problem that the longer we ignore it for, will only get worse and worse for our country.
Richs analysis is bang on and we here in Alberta are appreciative. Only issue I can see is the brain trust in Canada would rather rule over the ashes then let us prosper. That part worries me.
Rich Diaz, appreciate your informative, intelligent and to the point contribution towards the loonie hour. I never miss loonie hours as you 3 guys are the best!!
I am a custom home builder, lots of trades are out of the job! They have cut their prices but still nowhere close to pre covid. It's still too expensive to build! Math doesn't make much sense to build.
5 year navy vet, and know a tonne of officers still serving. Our military is falling apart, one of them eloquently said something along the lines of "5 years ago the threads were showing, now they are actively being pulled apart at the seams." Retention is at all time lows, the same men are being constantly reused for deployments, equipment is decades out of date, morale has been DECIMATED. We need a complete leadership overhaul. Too many useless high ranking officers, too much dei, and too little recognition of men who actually do a good job.
I was talking to a 10 year member of the CAF and he said our military is a paper tiger. If we needed to actually do any kind of military intervention at any scale we would fold. We rely on America for security and that puts us at the mercy of the Donald. Scary times indeed.
do you trust the people that employ you to tell the truth if there was a grim outlook for the future or are they generally pretty transparent about these things? Why I ask is cause in my field they always love to paint a fantastic booming future, where if there was a sign of layoffs in the next few months it wouldnt be communicated or warned
This podcast is pretty much the only source of truth in Canada lol. The media completely abandons discussion on any real economic issues and on anything important the broadcasters are all totally aligned.
A friend of mine delivers construction materials in the GTA, and 3 months ago he told me most builders were/are rushing to finish projects that are under way, but not in too much of a hurry to start new projects. Another friend is doing a custom build for himself outside Toronto, and every trade he talked to said they are much slower than they were a couple of years ago. All of these municipalities and cities in Ontario are living well beyond their means, relying way too much on obscenely high development fees. I believe immigration may be lower than the last few years, but I don't believe it will be as low as it should be as long as the Liberals are in power. When you factor in the fact that we sell the US oil at a discounted price, and they refine it and sell it for about 400 billion a year, the trade deficit is not a reality. If we refined the oil ourselves and sold it worldwide we would be much better off financially.
Funny how Eastern provinces are all worried about oil and gas from Alberta now even though they voted liberal for decades,,,sad sad people,,not sure how these people can even look in the mirror without throwing up,,
Also, I think the city of Toronto hasn't done many property re-valuations to calculate that tax on, so plenty of boomers are getting subsidized in a way by paying rates on lower valuations.
You recorded this show before the expose here in Vancouver about the obscene salaries that many of the mayors in greater Vancouver area are receiving. Many receiving higher pay than the premier and the prime minister. And as Keith pointed out, the taxes keep rising.
I'll add that in addition to Canada not holding up their end of the security deal, Canada is also a major security loophole for North America. We don't vet temporary residents coming to the country, literally two thousand people on terrorist watch lists have come to Canada and been caught at the US border. How many more didn't get caught? How many more came in and didn't try to get into the US yet? Tom Homan, Trump's border czar, is on record talking about fixing this vulnerability as being one of his top priorities as soon as he starts. I think the tarrifs are partly a way to apply pressure to get those problems resolved.
I think we got the best out of Rich today, great episode guys. I’m in junk removal and bins and seeing the customer base change. I have been telling people exactly what Steve says, once development fees dry up, the municipalities will be looking at homeowners or commercial landowners to make up the revenue. Expect property taxes to go up even more. Anyone who thinks the government will govern responsibly just needs to look at the elected officials pay at the municipal level, 400k a year for a mayor, we as taxpayers are screwed.
Incredibly confused as to why you guys think that Pierre Poilievre will be oh so much greater for the economy vs. Carney, who has run economies for the better part of the last 20 years. Other than getting rid of Carbon Tax in lieu of more effective climate policy (which I agree with), what Pierre has presented has demonstrated a rudimentary economic understanding at best? He literally once argued the best way for Canada to fight inflation would be to invest in cryptocurrency. Just because he yells what he says with that narcassistic tone, doesn't mean he understands what he's talking about. He sounds like he took a 101 class in university, so he has enough to say "cut public spending to make the private sector thrive". This dude isn't going to fix our economy. But alas, I am but a women, so my opinion doesn't matter in that small mind.
Yet another amazing episode. You guys are gems. Unbelievable how uncompetitive, unproductive, and antigrowth Canada has become. Maybe we always were, and now have become exposed? This pod reveals the truth and we need more. Cheers.
The oil industry might be 3% of gdp but it is also the sector that gets leaned on in times of recession. If the condo market falls through those people will need jobs and natural resources will be there to save them. It’s not really about the gdp imo
Mark Carney effectively announced his candidacy on the Daily Show, which is completely ridiculous. He had to go on a political comedy show in another country to find a receptive audience. Running a party insider like Carney is the most tone-deaf thing the Liberals could possibly do next election... and I think they'll do it and it'll end the same way it did with Kamala Harris in the USA. With the exception that I think the Liberals are MUCH less popular than the Democrats right now and will be utterly crushed.
Long time listener, love the show. Genuine question that might throw a wrench in the GTA forecast. The high cost of materials is one aspect that restricts the development of condos and other houses. Do you think the Chinese housing crash and deflation situation will drastically lower demand for rebar and concrete and lower the global cost of that input?
Maybe I’m over simplifying but if these tariffs are essentially a consumption tax to pay for his corporate/ income tax plan doesn’t he have to keep buying everything in order to collect the funds?
BIG piece missing in the percentage of GDP from AB O&G discussion is the $16B sucked out of AB to subsidize Canada, almost all to Quebec ($12.5B) and the Maritimes. I love the “Loonies” but this is NEVER a mentioned when the POV is from Halifax, Montreal & Van. When working on an executive MBA at McGill my group had highlighted educated Executive people from Ont and Quebec and they didn’t even know what equalization payments were……..fascinating their education and Corp media diet left them ignorant of this policy that pays a LOT of bills (10% of Quebecs budget!).
One key point, property values increasing ≠ property tax increases unless your property increases more than everyone else's Also property values decreasing will not result in lower property taxes Happy to help people with the math
@@garryr002 if rest Canada exploits Alberta so much , no wonder Albertans want to join USA All sofa ridden (with a tv remote) ontarians get their free money checks from Alberta (major percentage of it )
Would love to hear why you guys aren't the biggest fan of Mark Carney's policies. I thought it was generally agreed that he did a great job as head of 2 central banks and figured the business / econ community would be very supportive of him.
The smart thing for housing is to get out of power before it hits the fans. Guys like Doug Ford and Harper got out and left issue to the next person to lead. And of course we blame those in power.
Regarding the discussion around 52:00 about Carney entering to be interim PM - this should actually be a serious cause for concern because he is not an idi0t. What I think they might try is basically freeze an unelected govt in place by declaring some sort of economic emergency or national emergency after tariffs hit. We've already seen the steps this govt would take against the populace like freezing bank accounts etc.
In Hamilton and tuning in to the local council meetings on the regular. These people simply don’t know how to reduce their budgets or services when the revenue begins to slow while they’re now facing inflationary headwinds. It’s really gross to see them bicker for hours about the issues and citizens suggest that it’s clearly a asset/liability mismatch at a time of cost of living unaffordability and these rubes can’t see the obvious solution of budget reduction or at the very least a hiring freeze. They’ll just tax … Rich, maybe other NATO nations are reluctant to hit minimum funding targets because of the US’s imperialistic foreign policy where instead of wielding diplomacy, they instead wield the military industrial complex and brute force and create wars and practice regime changes all over the world and have for decades. I agree with the rest of your rant on the subject. By the way, I’d love to buy booze from the SAQ, you guys have remarkable pricing and selection vs the LCBO which is pretty garbage lol.
Mr Ice Cap...I inputted your ripping the heart out of Bay St...into chatgpt and asked about secondary and tertiary effects in Alberta.."A GTA recession and the weakening of Bay Street could lead to a power vacuum in Canada’s economic landscape. Alberta, with its strong resource base, growth potential, and increasingly diversified economy, is well-positioned to absorb some of the fallout. The province could emerge as a more dominant force in Canada’s economy, accelerating its growth trajectory while redefining regional dynamics. However, risks like overheating in housing markets, political friction, or reliance on external demand (e.g., from the U.S. or China) could temper these gains over the long term." Interesting...simplistic...true? i vaguely recall stats classes characterizing mean regression...is this what they meant?
Why would Alberta sign off on the Team Canada disaster. Albert is asked to put 120 billion dollars of oil sales as trade retaliation! Ontario is not offering anything but Alberta’s 120 billion in oil sales!
I agree with the "Rich Rant" on energy and tariff reality. A note too, it is of course a small portion of the GDP that is energy but what if we take out the portions of the GDP that includes increases in Public sector employment and items of that nature. Would that give us a truer picture of the value of energy to GDP? Or am I incorrect?
Just an historical connection about Mark Carney: he wanted to become leader of the Liberal Party when he stepped down as BoC governor. However, the Liberal Party chose nepotism and good hair over competence, experience and intelligence. For me, that's enough to never vote for the Liberal Party again.
Thank you for providing some common sense commentary through all the over-blown politically/ideological-driven hysteria we see on our day-to-day news cycle. It really reassures some of us that we are not all crazy LOL.
GTA Property Taxes are skyrocketing because of the Condo Developer insolvencies where under Court Ordered "Reverse Vesting" the TAXES are downloaded out during the insolvency protection restructuring.... then allowing Banks etc to recoup the core asset unencumbered for ReSale.... and those insolvent Developer/restructured Condo TAXES are then downloaded onto Government and the wider Residential Property Tax Roll. SAME THING will happen in GVA TAXES ! The BC Gov't has already petitioned the Supreme Court trying to stop this practise !
Agree 100% with Keith's assessment of Carney. We already have what he is selling, and we are not happy with it. Don't be fooled by charm and intelligence, sometimes they just make for better manipulators. Also, Saskatchewan Research Council is working on a Rare Earth Element processing facility. Not sure how big, but it's a start.
Big government attacking investments in condos. Why all the hate on Airbnb or investors in general with higher capital gains. Investors get stuff built! Governments only spend and tax!
None of them said they would cancel the carbon tax. They said they would get rid of it in this form… obviously to be replaced by something subtly different
Good discussion. Carney has the charisma and personality to help us join with NDP and have a coalition got to help move Cda to be more Socialist and Liberal. We just need to dominate the urban places and govt capital cities which is easy. We can go a little further and tax those making money and that operate business's a bit more. That way they can pay for more of what we want. First I want govt job pay to go up more as I'll get one of them. Since work at home and not having to answer phones - our environment is pretty good - but just want more money and more time off
Not sure where Max Fawcett gets his numbers. Canada GDP=2.14 trilliion USD. 2023 oil and gas exports $152 billion USD. That's 7% of the Canadian economy just in exports, not counting all the employment, investment, transport, knock on effects, domestic consumption, etc. It wouldn't surprise me if the all-considered value is closer to 15% of Canada's economy. A far cry from his 3%.
Why would Alberta sign off on the Team Canada disaster. Albert is asked to put 120 billion dollars of oil sales! Ontario is not offering anything but Alberta’s 120 billion in oil sales!
Canada hasn’t mentioned what compensation will be. But my guess is $600 check that CRA will want back within 5 years and 52 weeks of UI up from what 48?
Nice to hear Rich speaking with solid authority on the energy sector
I’m a little behind but I felt compelled to comment and am happy to see that many others feel the same. Rich killed it. Such a good rant brother. These lunatics in Ottawa need to go ASAP. Sending my support to Alberta from Toronto.
Rich. You hammered this weeks podcast. Your explanations were very eye opening. Great discussion.
Rich KILLED it on this podcast… sometimes Rich annoys me when he laughs at nothing but he slayed this time, especially when he rants about oil, it’s really good and unique commentary
I think Rich had just the right amount of Après Ski bevies.
Sometimes he's annoying but Keith is always trying to make Rich laugh with his not so funny, much too often weak jokes. Keith is also better when he's not trying to be funny guy way too often.
I wish more Canadians watched these shows there would be less ignorance in Canada. Good show guys.
lol. Partially true I guess
But some Canadians aren't in Canada 🤔
Sam Cooper is doing the real hard work for Canadians, get that guy on the pod to talk about the money laundering and political corruption we have in our country. It's a serious problem that the longer we ignore it for, will only get worse and worse for our country.
They did Episode 133 I think. I’ve shared that one a few times
Second this, one of the few real journalists that isn't bought out
He should come back for an update and I would love to see Whitney Webb on here to enlighten us on USA government corruption
Great chat gents, always excellent education and perspective.
Really looking forward to Danielle Smith being on the podcast, great score, Steve!
Richs analysis is bang on and we here in Alberta are appreciative. Only issue I can see is the brain trust in Canada would rather rule over the ashes then let us prosper. That part worries me.
Rich Diaz, appreciate your informative, intelligent and to the point contribution towards the loonie hour. I never miss loonie hours as you 3 guys are the best!!
@@seanteoh7226 🙏
4:15 start
You stop that I love the banter
@@b-rare= "take the McRib off the menu, I like the big mac"!
I appreciate you
Thanks
@@seventh7orbit 😹
Richard segment he fired up at the 38:00ish-42:00 mark was really well said. totally on point.
Great show gents!
You gentleman continue to provide the best insight into Canadian macro. These talks are invaluable. Cheers!
Energy is over 21% of Alberta's GDP, which is why Danielle Smith isn't playing ball. She obviously doesn't suffer from peer pressure or stupidity.
I am a custom home builder, lots of trades are out of the job! They have cut their prices but still nowhere close to pre covid. It's still too expensive to build! Math doesn't make much sense to build.
400/sqft and that’s low
It's almost like houses are supposed to be shelter or something
I guess Rich should wear a helmet every episode. It keeps his brain warm and he speaks with wisdom with authority.
5 year navy vet, and know a tonne of officers still serving. Our military is falling apart, one of them eloquently said something along the lines of "5 years ago the threads were showing, now they are actively being pulled apart at the seams." Retention is at all time lows, the same men are being constantly reused for deployments, equipment is decades out of date, morale has been DECIMATED. We need a complete leadership overhaul. Too many useless high ranking officers, too much dei, and too little recognition of men who actually do a good job.
I was talking to a 10 year member of the CAF and he said our military is a paper tiger. If we needed to actually do any kind of military intervention at any scale we would fold. We rely on America for security and that puts us at the mercy of the Donald. Scary times indeed.
It’s been that way since the 90s when the Airborne Regiment was disbanded.
We couldn't have people actually doing there job when ordered to stand down, now could we?@@TheDentist27
@@brodieobrien-pickering2202 appreciate your service
21:50 🔥 great information. Every Canadian should hear this rant
We need a loonie hour meet up in the alps.
I am a framing contractor here in Edmonton AB, most home builders here are projecting 60% more houses built this year than last year.
do you trust the people that employ you to tell the truth if there was a grim outlook for the future or are they generally pretty transparent about these things? Why I ask is cause in my field they always love to paint a fantastic booming future, where if there was a sign of layoffs in the next few months it wouldnt be communicated or warned
Just look at the building permit application
Thanks for this, Rich made a great contribution to our understanding of relations with the US in the context of global security issues.
With shows like this defunding the CBC makes more sense everyday.
@@Kelly-r9z 🙏
Continuing to love the show boys!!! Keep up the good work and the solid info!
This podcast is pretty much the only source of truth in Canada lol. The media completely abandons discussion on any real economic issues and on anything important the broadcasters are all totally aligned.
@@hamishmmc 👊🏻
A friend of mine delivers construction materials in the GTA, and 3 months ago he told me most builders were/are rushing to finish projects that are under way, but not in too much of a hurry to start new projects. Another friend is doing a custom build for himself outside Toronto, and every trade he talked to said they are much slower than they were a couple of years ago. All of these municipalities and cities in Ontario are living well beyond their means, relying way too much on obscenely high development fees. I believe immigration may be lower than the last few years, but I don't believe it will be as low as it should be as long as the Liberals are in power. When you factor in the fact that we sell the US oil at a discounted price, and they refine it and sell it for about 400 billion a year, the trade deficit is not a reality. If we refined the oil ourselves and sold it worldwide we would be much better off financially.
Funny how Eastern provinces are all worried about oil and gas from Alberta now even though they voted liberal for decades,,,sad sad people,,not sure how these people can even look in the mirror without throwing up,,
No one has suggested we will turn off the flow of oil. The question is around who will put a Tariff in place, and how much the tariff will be.
6.9% is way too low. Toronto has decades of very low property taxes. Toronto should be at 15-20% tax increase.
Also, I think the city of Toronto hasn't done many property re-valuations to calculate that tax on, so plenty of boomers are getting subsidized in a way by paying rates on lower valuations.
@@fawzi6477 Canadians never found a tax they don’t like
Great show as always guys!
Love Rich's take on tariffs. Brilliant!
I needed the continued plug to find icecap. Found it in the show notes, thanks. Subscribed
You recorded this show before the expose here in Vancouver about the obscene salaries that many of the mayors in greater Vancouver area are receiving. Many receiving higher pay than the premier and the prime minister. And as Keith pointed out, the taxes keep rising.
Rich nails it with the Canadian oil and trump inauguration topic.
I'll add that in addition to Canada not holding up their end of the security deal, Canada is also a major security loophole for North America. We don't vet temporary residents coming to the country, literally two thousand people on terrorist watch lists have come to Canada and been caught at the US border. How many more didn't get caught? How many more came in and didn't try to get into the US yet? Tom Homan, Trump's border czar, is on record talking about fixing this vulnerability as being one of his top priorities as soon as he starts.
I think the tarrifs are partly a way to apply pressure to get those problems resolved.
Agreed. It is scary to know how many people are lurking and waiting to harm the West are here as our "neighbors" and as "new Canadians."
This is very true. You want to put sanctions on Iran? No big deal, just send funds through Canadian money exchange outlets located on every street.
Best economic podcast in Canada!
Good show boys, always good info
Isn’t Carney a mouthpiece for WEF?
I think we got the best out of Rich today, great episode guys. I’m in junk removal and bins and seeing the customer base change. I have been telling people exactly what Steve says, once development fees dry up, the municipalities will be looking at homeowners or commercial landowners to make up the revenue. Expect property taxes to go up even more. Anyone who thinks the government will govern responsibly just needs to look at the elected officials pay at the municipal level, 400k a year for a mayor, we as taxpayers are screwed.
Hi TT, thanks for sharing. Love this information. Boomer.
Rich, you’re the man!
What Rich said about Trump's tariff threats really being about precious metals and Canada's NATO input was interesting...
Great job as usual guys, looking forward to the Smith show.
yeah, hyped
I swear Keith has been calling for something, somewhere to "go funny" for the past 3 years. Love the Boomer.
Mark Carney help UK’s Brexit he’s going to manage the CanEu entrance 😂
Way to go Rich!
Incredibly confused as to why you guys think that Pierre Poilievre will be oh so much greater for the economy vs. Carney, who has run economies for the better part of the last 20 years. Other than getting rid of Carbon Tax in lieu of more effective climate policy (which I agree with), what Pierre has presented has demonstrated a rudimentary economic understanding at best?
He literally once argued the best way for Canada to fight inflation would be to invest in cryptocurrency.
Just because he yells what he says with that narcassistic tone, doesn't mean he understands what he's talking about. He sounds like he took a 101 class in university, so he has enough to say "cut public spending to make the private sector thrive". This dude isn't going to fix our economy.
But alas, I am but a women, so my opinion doesn't matter in that small mind.
This!!
Yet another amazing episode. You guys are gems. Unbelievable how uncompetitive, unproductive, and antigrowth Canada has become. Maybe we always were, and now have become exposed? This pod reveals the truth and we need more. Cheers.
Rich nailed it today.
Great episode!
Canada should bring Rich to the negotiations with Trump. Having another adult in the room on our side would help a lot.
The oil industry might be 3% of gdp but it is also the sector that gets leaned on in times of recession. If the condo market falls through those people will need jobs and natural resources will be there to save them. It’s not really about the gdp imo
Mark Carney effectively announced his candidacy on the Daily Show, which is completely ridiculous. He had to go on a political comedy show in another country to find a receptive audience. Running a party insider like Carney is the most tone-deaf thing the Liberals could possibly do next election... and I think they'll do it and it'll end the same way it did with Kamala Harris in the USA. With the exception that I think the Liberals are MUCH less popular than the Democrats right now and will be utterly crushed.
In regards to the Toronto condo market what's the answer Steve? We need the condos built, we need more inventory and we need prices to come down.
Stabile or declining population does not mean you need a lot more condos.
As to Andrew Coyn don’t forget the transfer payments Alberta pays out every year.
Long time listener, love the show. Genuine question that might throw a wrench in the GTA forecast. The high cost of materials is one aspect that restricts the development of condos and other houses. Do you think the Chinese housing crash and deflation situation will drastically lower demand for rebar and concrete and lower the global cost of that input?
@@CalCalCal6996 no. Not in any meaningful way
Maybe I’m over simplifying but if these tariffs are essentially a consumption tax to pay for his corporate/ income tax plan doesn’t he have to keep buying everything in order to collect the funds?
BIG piece missing in the percentage of GDP from AB O&G discussion is the $16B sucked out of AB to subsidize Canada, almost all to Quebec ($12.5B) and the Maritimes.
I love the “Loonies” but this is NEVER a mentioned when the POV is from Halifax, Montreal & Van.
When working on an executive MBA at McGill my group had highlighted educated Executive people from Ont and Quebec and they didn’t even know what equalization payments were……..fascinating their education and Corp media diet left them ignorant of this policy that pays a LOT of bills (10% of Quebecs budget!).
Come to surrey bc. Lots of work for construction and realtors
TORONTO LAND TAX IS STILL HALF OF OTTAWA
One key point, property values increasing ≠ property tax increases unless your property increases more than everyone else's
Also property values decreasing will not result in lower property taxes
Happy to help people with the math
Wow....Ms. Smith on Loonie Hour....cant wait. Really respect her .
I'm sure she'll be announcing her desire to join the US, taking her talking points from Preston Manning.
@@garryr002 if rest Canada exploits Alberta so much , no wonder Albertans want to join USA
All sofa ridden (with a tv remote) ontarians get their free money checks from Alberta (major percentage of it )
Would love to hear why you guys aren't the biggest fan of Mark Carney's policies. I thought it was generally agreed that he did a great job as head of 2 central banks and figured the business / econ community would be very supportive of him.
Is it possible to release these videos at a consistent hour? This week's release was hours later than usual.
@@larrymorley2579 will try
Is it legal for residents of Toronto to leave the city? Just curious.
Fax Mawcett won't be heard of again after Pierre defunds the steno
pool.
The smart thing for housing is to get out of power before it hits the fans. Guys like Doug Ford and Harper got out and left issue to the next person to lead. And of course we blame those in power.
Regarding the discussion around 52:00 about Carney entering to be interim PM - this should actually be a serious cause for concern because he is not an idi0t. What I think they might try is basically freeze an unelected govt in place by declaring some sort of economic emergency or national emergency after tariffs hit. We've already seen the steps this govt would take against the populace like freezing bank accounts etc.
In Hamilton and tuning in to the local council meetings on the regular. These people simply don’t know how to reduce their budgets or services when the revenue begins to slow while they’re now facing inflationary headwinds. It’s really gross to see them bicker for hours about the issues and citizens suggest that it’s clearly a asset/liability mismatch at a time of cost of living unaffordability and these rubes can’t see the obvious solution of budget reduction or at the very least a hiring freeze. They’ll just tax …
Rich, maybe other NATO nations are reluctant to hit minimum funding targets because of the US’s imperialistic foreign policy where instead of wielding diplomacy, they instead wield the military industrial complex and brute force and create wars and practice regime changes all over the world and have for decades. I agree with the rest of your rant on the subject. By the way, I’d love to buy booze from the SAQ, you guys have remarkable pricing and selection vs the LCBO which is pretty garbage lol.
Mr Ice Cap...I inputted your ripping the heart out of Bay St...into chatgpt and asked about secondary and tertiary effects in Alberta.."A GTA recession and the weakening of Bay Street could lead to a power vacuum in Canada’s economic landscape. Alberta, with its strong resource base, growth potential, and increasingly diversified economy, is well-positioned to absorb some of the fallout. The province could emerge as a more dominant force in Canada’s economy, accelerating its growth trajectory while redefining regional dynamics. However, risks like overheating in housing markets, political friction, or reliance on external demand (e.g., from the U.S. or China) could temper these gains over the long term." Interesting...simplistic...true? i vaguely recall stats classes characterizing mean regression...is this what they meant?
Why would Alberta sign off on the Team Canada disaster. Albert is asked to put 120 billion dollars of oil sales as trade retaliation! Ontario is not offering anything but Alberta’s 120 billion in oil sales!
I agree with the "Rich Rant" on energy and tariff reality. A note too, it is of course a small portion of the GDP that is energy but what if we take out the portions of the GDP that includes increases in Public sector employment and items of that nature. Would that give us a truer picture of the value of energy to GDP? Or am I incorrect?
Keep up the intro banter!!!
@@thejuice3819 yes !!
Great Job!! Thank You... :-)
Just an historical connection about Mark Carney: he wanted to become leader of the Liberal Party when he stepped down as BoC governor. However, the Liberal Party chose nepotism and good hair over competence, experience and intelligence. For me, that's enough to never vote for the Liberal Party again.
Thank you for providing some common sense commentary through all the over-blown politically/ideological-driven hysteria we see on our day-to-day news cycle. It really reassures some of us that we are not all crazy LOL.
GTA Property Taxes are skyrocketing because of the Condo Developer insolvencies where under Court Ordered "Reverse Vesting" the TAXES are downloaded out during the insolvency protection restructuring....
then allowing Banks etc to recoup the core asset unencumbered for ReSale....
and those insolvent Developer/restructured Condo TAXES are then downloaded onto Government and the wider Residential Property Tax Roll.
SAME THING will happen in GVA TAXES !
The BC Gov't has already petitioned the Supreme Court trying to stop this practise !
Wheres my Saskatchatoon shout out boys. Even out here in the prairies, rental property tenants are asking for lower rent!
Agree 100% with Keith's assessment of Carney. We already have what he is selling, and we are not happy with it. Don't be fooled by charm and intelligence, sometimes they just make for better manipulators.
Also, Saskatchewan Research Council is working on a Rare Earth Element processing facility. Not sure how big, but it's a start.
Watch the Ice Cap Canadian market wrap! Its really good!!!
Really, really good.
Have you ever been to a construction site in vancouver, they a are lot of temporary worker from everywhere.
Nice rant Rich. More anger.
Weak kneed politicians
Big government attacking investments in condos. Why all the hate on Airbnb or investors in general with higher capital gains. Investors get stuff built! Governments only spend and tax!
None of them said they would cancel the carbon tax. They said they would get rid of it in this form… obviously to be replaced by something subtly different
@@tutorknights good call
Max Fawcett is a piece of work...the fact he has the reach he has is disheartening, the values of socialism align with many.
@@TEDMMSM agrred
Canada is Not a petrostate. How would Oil, impact of 4% of GDP, cause 40% drop in CAD?
Good discussion. Carney has the charisma and personality to help us join with NDP and have a coalition got to help move Cda to be more Socialist and Liberal. We just need to dominate the urban places and govt capital cities which is easy. We can go a little further and tax those making money and that operate business's a bit more. That way they can pay for more of what we want. First I want govt job pay to go up more as I'll get one of them. Since work at home and not having to answer phones - our environment is pretty good - but just want more money and more time off
Love your shirt Keith
Putting all your money in an inflated housing market instead of the stock market seems insane right now.
We will see who last last...
Freeland should've saved her $350k . Zero chance she's getting top job. What a joke.
She could probably get a job at Pfizer
It was thebc liberal Gordon Campbell brought in carbon tax
good episode
This episode goes to Rich. Boomer is still my favourite though. Thanks gents
The 3 of us love doing the podcast. It's our favourite day of the week.
Detached home *Canada* $521,854 USD
Detached home *USA* $420,400 USD
=24% more expensive in Canada
*Wages 8% higher in USA..
So, detached house prices in Canada are *32% higher* accounting for wage disparities.
"muh Vancouver Toronto"
But you don’t get free healthcare and the cbc south of the border
@@the5chord free healthcare = free MAID now, thank you govt
@@prao4603good point. I am adding that to my list of things I respond with when people ask me why I live here.
Its over, your house is no longer an investment, its a liability, back to reality.
Steve's picture made me curious if the Romans let the Bulls fight the Bears. They did. Look it up.
Not sure where Max Fawcett gets his numbers. Canada GDP=2.14 trilliion USD. 2023 oil and gas exports $152 billion USD. That's 7% of the Canadian economy just in exports, not counting all the employment, investment, transport, knock on effects, domestic consumption, etc. It wouldn't surprise me if the all-considered value is closer to 15% of Canada's economy. A far cry from his 3%.
I think he was talking oil only.... not gas
Love u boys
The opposition is likely to the Bloc Quebicois
You’re pronouncing premier wrong. It’s not premiere.
@20:52 Steve laughs when I say he will become a politician. (Over the target)
48:50 yes boomer is entirely correct, this is an opportunity for Canada to grow up and kick on
Oasis good times 👊
Why would Alberta sign off on the Team Canada disaster. Albert is asked to put 120 billion dollars of oil sales! Ontario is not offering anything but Alberta’s 120 billion in oil sales!
Canada hasn’t mentioned what compensation will be. But my guess is $600 check that CRA will want back within 5 years and 52 weeks of UI up from what 48?