Ron Butler- Bank of Canada CUTS RATE: Tiff Macklem Faces The Stark Reality Of A Canadian Economy Headed For The Crapper. The BoC Governor made the expected move & cut the bank’s key Lending Rate by 25 bps. More here
Ron Butler- Bank of Canada CUTS RATE: Tiff Macklem Faces The Stark Reality Of A Canadian Economy Headed For The Crapper. The BoC Governor made the expected move & cut the bank’s key Lending Rate by 25 bps. More here
Inflation has not been defeated, but some careless borrowers are hurting Just-ins chances at getting re-elected. Nothing like pressure on ol Tiff to save Boy Blunder!
Watch real estate values resurrect their upward climb. There has been no correction, one that is necessary in order to restore the housing market.
Regardless of what the economic bagmen shills like Garf Turner say, this rate cut is a mistake!
Can’t wait until this shows up on the shelves in the grocery stores in the form of higher prices.
Housing continues up, Property Taxes follow.
Paul, with this cut and Trudeau’s wacko immigration policies, housing and rental prices will shoot up. And CTV and the CBC will name the landlords.
The race is on, ladies and gentlemen. Real estate prices ready to fire up!
Everybody can now see why they made the capital gains tax jump last month, and the rate drop this month. All those sales that have been hanging fire for two years are now going to proceed in an orgy of buying and selling. And the Feds get 65% of the profit over $200K. Average home price, $1.1megabucks. KaCHING! goes the tax department cash register as investors run for the exits.
The one problem they have is that this little stunt they’ve pulled is like the Daffy Duck circus act where he swallows all kinds of fireworks and then lights a match. It’s a great trick, but they can only do it once.
Yesterday, someone in the field whom I respect said that they’re getting the h3ll out of real estate as an investment. The party appears to be over, to them, anyway.
I know it’s hard to believe but we’ve still got real estate agents forever calling or knocking on our door trying to entice us to sell. Yesterday one of them got me as I was unloading the car so I had to talk to her. She was trying to lure me in with “we just sold a similar home the next street over for xxx”. Yeah, no thanks.
Same here, and still building new around my area. None of this news ever seems to change it.
I guess it can’t go on forever.
I don’t think the cap gain applys to principal residences – yet.
And they could beat inflation by eliminating the carbon tax – and expanding exploration and sales of hydrocarbons. Also eliminate red tape for businesses and interprovincial trade barriers.
Productivity goes up and cost of production goes down – and so does “inflation”
Problem as I see it is supply chains and efficiencies were destroyed during the plandemic. So now we have far fewer goods that are being chased by money. Supply demand imbalance was caused by severly curtailing supply. Raising rates does not fix this.
Yes, they want to overtax, over regulate, and overburden us to destroy the economy and business environment throughout Canada – but especially the west. Ultimate goal is to make everyone poorer from the “rich” creators of jobs, through the middle and working/“poor” classes. Destroying the economy with all the sheisty policy and actions of an activist government is coming home to roost.
l await analysis of Cdn voting patterns going back to the days of whigs and tories as to why the suicidal insistence of sufficient Canaduhian voters to keep ‘picking the worst’. present being the worst of the worse.
lm looking for explanations not mud slinging chatter.
other than that this is just another permutation and variation on demanding the ones, gubbamint, who keep breaking ‘things’ somehow morph into a white knight putting all the shoulda couldas in place even retroactively.
not.
“…the suicidal insistence of sufficient Canaduhian voters to keep ‘picking the worst’.”
Because the game is rigged, of course. It doesn’t matter who you pick. They’re all the worst.
How many years did we have Harper’s government do ABSOLUTELY NOTHING to swat down the Liberal establishment power base in the bureaucracy? Do ABSOLUTELY NOTHING about the CBC? Nothing about gun control, nothing about crime, and of course above all, nothing about taxes.
What Canada needs, badly, is what Javier Mieli is doing in Argentina. He’s destroying the infrastructure of socialism. The millions of little back rooms where the desks sit in a circle and they pass the same piece of paper around all day, every day.
Fuel is the best example for easy counting. Anybody know what a liter of gas is worth without the taxes on it? NO, YOU DON’T because the media will not tell you that. The tax directly at the pump is ~31%, but what about all the tax already baked in from the transportation, the refining, the extraction, the storage, and all that?
If you dig in, you find that the ~30% is applied at every step in the chain. The actual COST of that $1.59 liter of gasoline is about sixty to seventy cents. The -real- tax rate is well over 60%.
This applies to everything you buy, and everything you do. And that is why you don’t have any money, and why it does not matter who you vote for. Because they take all that money and use it to keep you in that little box you live in. It does not matter who’s face is on the TV.
In a fiat currency system with exponentially rising debt, falling interest rates are an absolute necessity in order to make the debt service bearable. Periodically, central banks will boost rates, but it cannot last. We are now back into the falling phase, and we will eventually see negative rates.
Real estate agents are just parasites.
as are, oh, say, teachers, lawyers, medic types, all union lay-burr.
Teachers, lawyers and paramedics?
No value?
Teachers currently less than zero. They do harm.
And there may be only 5-10% that actually care about doing a good job and educating kids (although the curriculum is sh8te).
A good 80% a just in it for an easy ride through adult life, and the last 10% are predators.
The Bank of Canada says it has inflation under control.
If it is under control, why a drop of only 0.25%?
It won’t change that the real estate market is screwed and needs a correction.
Nor will it prevent the government from. Spending another 40 billion in borrowed money that isn’t budgeted for.
My opinion is the government is watching the housing market (if that collapses we’re screwed – they’re screwed) and playing with the inflation numbers. We seem to be the only country without sticky inflation. As we import most things I can only believe the inflation number is jury-rigged to make interest rate changes meaningful.
Every time stats canada makes an adjustment to how they calculate inflation, they are playing with the numbers, and you can no longer compare each of the values that is calculated differently.
How many times has that occurred since 2020?
I would guess most of the Biden government spending hasn’t been spent yet. We are just getting started on our slaughter in the US. I got an emailed newsletter from Charles Schwab with a story about what to do with investment money to prepare for the upcoming rate cuts. I am thinking I should fire their dumbasses because I know there is no rate cut in the pipeline. Maybe I am wrong. But I should probably still fire them (by moving my money).