>'Unprecedented' reliance on housing fuels recession call
>But what could trigger such a downturn? Macquarie Capital Markets offers one simple answer: the housing market itself -- highlighting that the share of employment tied to construction as well as finance, insurance and real estate is nearly two standard deviations above its long-term average.
>Tighter mortgage rules and higher interest rates have weighed on activity in formerly high-flying Canadian housing markets, with home sales in Toronto having their worst start to the year since 2009.
>Roughly half of all economic weakness during recessions since World War II is tied to fluctuations in residential investment, he calculates, and the extent to which Canadian output and employment are currently reliant on this is “unprecedented.”
>Macquaire’s best-case scenario is that the fallout, starting in 2020, will be as bad for Canada as the 2008-09 financial crisis. Worst case: The unemployment rate will spike by more than any recession since the Great Depression.
>Macquarie sees the USDCAD dollar rising to $1.75 ($0.57 loonie) by the end of 2019.
it's just a samepost issue by the sameflag. go deal with your zionist tommy issue
Nicholas Nelson
Oy vey you mean chinese laundered money doesnt last forever?
At least our vibrantly diverse immigrants will prop up our economy
David Cooper
Fake news we have the most robust and prosperous economy in the world
Lincoln Gutierrez
>economy revolves around syrup and timbits
Brody Lee
Canada's economy is non-existant. Canada is nothing but a hewer of wood and a drawer of water. All you do is sell your raw, unrefined resources mainly to the USA at substantial discounts to market prices because you're too stupid to build pipelines to the sea so you don't have to rely on your sole customer the USA. You also don't have enough refining capacity to process all your domestic production, so you have to pipe it to the Koch brothers in Texas who refine it to you then charge you the crackspread. Any skilled White worker IMMEDIATELY leaves Canada and goes to work in the USA or abroad. You literally pay kindergarten teachers with degrees in feminist literage $120,000 and high school 80 IQ cops $150,000 a year while Nuclear Engineers make $100,000 only and computer programmers live off food banks.
I'll give you an example. Someone I know went to Waterloo for a B.Math CS&CO double major, as you know Waterloo CS is up there with MIT/Harvard/Stanford and a top feeder school for Silicon Valley. Something like 10% of Microsoft/Google/etc is Waterloo CS grads. Google was founded by a Waterloo grad. Bill Gates personally visited Waterloo (a fucking farm town in the middle of nowhere) to compete with other firms for its 300/year graduates. Now this person did 6 (paid, market rates) internships primarily in the USA and Europe at top firms. This guy pulls $300K+ USD easily, yet he showed me some job postings from Canada
>McAfee Waterloo >Senior Programmer >Assembly, Algorithms, Low-level Assembly >Pay: $42,000/year CAD ($32K USD) >1 week vacation >60+ hours a week, no overtime. That's $13.70/hour before taxes. Ontario's minimum wage is now $14 I believe, going up to $15. So a Flip working Tim Hortons cash register would be earning more.
LITERALLY less than 10% of what you'd make in the valley.
Canada needs to fuck off and die. The GDP print came in yesterday too: expected 2.8% YoY, came in at -0.1%. Canada's economy is fucking collapsing
the state of liberals shills. you are incompetent m8.
Blake Adams
Oh boy if it isn't the autist pole here to shil and divide and conquer.
Zachary Sanders
I hope Canada collapses. They're all cucks.
Evan Gonzalez
Feminism is a viral bio weapon
Femin Virus
David Rodriguez
>implying New Zealanders are better than Canadians
Your time come too. Canada may be the first western country too fall but we wont't be the last. Instead of fighting within ourselves, we should be helpung each other.
Nathan Cruz
Canadians can come here to clean my toilet once their economy collapses, all are welcome
I work in food service logistics. Back in 2007/2008 business slumped shortly before "le great recession". My guess is it's because the drive-through coffee and tendies are the first thing people cut when money starts getting tight. Business is currently in a slump that makes the 2007/2008 slump look like nothing. This country is about to fucking implode. Mark my words.
Julian Miller
Someone explain how this would effect me. Would fuel or food prices go up? Jobs paying less?
Jason Campbell
Yeah but think of all the Muslims and diversity we'll have.
Checkmate.
Luke Thompson
Then why is there no Timmy’s in California?
Parker Moore
What city? What % is business down compared to say last summer?
Sebastian Davis
ID: 1zNIGEyR No co jest ziomku xD
Austin Gonzalez
I think Tim Horton's was bought by a Brazilian multinational headquartered in Miami
Jason Carter
This is also reason why Canada is so open to immigrants. It needs people to to sustain this madness.
Angel Rogers
>Canada needs to fuck off and die. The GDP print came in yesterday too: expected 2.8% YoY, came in at -0.1%. Canada's economy is fucking collapsing it comes in thursday fucking polish piece of shit
Juan Wilson
Oil prices are doing ok. Fuck the rest of the country T-Albertan
Landon Lewis
it was already fucking garbage, this whole "burger kings ruined tim hortons coffee" revisionism is infuriating, tim hortons coffee was never good you retards burger king does suck though thats also true, fucking burgers made of mayo wtf
Ryder Thompson
who's holding the majority of Candian MBS derivatives, anybody know?
>pole >has no economy >small country canada BTFOs them LMAOOOO
Joseph Clark
Yep. Need to have the debt & GDP constantly increasing, and since most people here are already stretched to their limits, they need fresh new blood constantly, to the tune of over 350,000 immigrants per year, in addition to the 300,000+ foreign students, and the 300,000+ temporary foreign workers brought in
Owen Perry
Brainlet here. Can someone explain what's going on in layman's terms?
Benjamin Barnes
Brazilian you retard.
Michael Gutierrez
I would light the metaphorical match that burns Canada to the ground Every Canadian can starve to death for all I care
Jayden Brooks
People buying homes is the only thing keeping this country going. Probably why immigration is pushed so much here.
I would say the same about your shithole of a country. Both our countries need a massive purge.
Jordan Clark
This. Tim Hortons “coffee” is hot water with brown food coloring.
Liam Jackson
same here
>before 2000, no housing problem >globalists push for "housing for everyone" >import millions of locusts from asia/mexico >hyperinflated housing bubble happens >housing now a problem >homeless epidemic >millions of native homeless die from opioid epidemic
it seems like the globalists preemptively planned and pushed for "housing for everyone" in advance of open borders. it was a stealth plan to house every locust invader while millions of natives go homeless there was never a housing problem in the US before their NWO globalism
the depressed economy was propped up by a housing bubble. the govt and financial institutions provided a "bail out" to the people in the form of low interest rates and lax regulations. the lack of job opportunities in the depressed economy forced people to exploit new career incentives created by financial institutions and govt focused on real estate speculation. with everyone speculating in real estate through "free money", the bubble burst.
>free trade, open borders goes full swing >transfer jobs/industries/wealth overseas >no domestic jobs results in depressed economy >govt and financial institutions provide a "bail out" in the form of low interest rates and lax regulations >depressed domestic economy propped up by a housing bubble >lack of opportunities (due to free trade) forces entire country to exploit and speculate housing market thanks "free money" >bubble burst >great recession >bubble reinflates with "free money" Quantitative Easing to recover from previous bubble caused by Free Trade and Open borders
free trade and open borders DOOMED the west
Austin Johnson
CMHC insures $950B worth of leaf mortgages, with $16B in equity. 60:1 leverage
>america sends industry, wealth, jobs to asia >no domestic jobs >recession 9.0 >rust belt happens >hyperinflation rising cost of food, oil, products, houses >businesses import 3rd world slavelabor to offset rising cost >cost of housing, oil, food surges even more >homeless, suicide, opioid epidemic
Lincoln Hernandez
I’ve seen this exact post before
Luis Collins
>2nd largest land mass >housing supply artificially kept low by importing hundreds of thousands annually for a steady demand >house prices rise constantly as a result, which means more property tax collected exponentially (((All by design)))
Adrian Edwards
>300,000 foreign students It's probably closer to 500,000 students
the deinndustrialization of US started with Nixon/Rockefeller's globalist shift to China. the steel belt became the rust belt in the 70s due to their policies.
the clintons continued rockefeller's policies (including NAFTA)
the "Rust Belt" is a term that gained popularity in the U.S. in the 1970s, resulting from Rockefeller's globalist policies.
Since the 1960s, the expansion of Rockefeller's worldwide free trade agreements have been less favorable to U.S. workers. Imported goods such as steel cost much less to produce in Third World countries (china) with cheap foreign labor
Beginning with the recession of 1970–71, a new pattern of deindustrializing economy emerged. Nixon/Rockefeller China project went to full swing in the 1980s.
Nixons China policy resulted in gradual expansion of the U.S. trade deficit with China in the 1980s. In the ensuing years the U.S. developed a massive trade deficit with the East Asian nations of China, Hong Kong, Taiwan. As a result, the traditional manufacturing workers in the region have experienced economic upheaval. This effect has devastated government budgets across the U.S and increased corporate borrowing to fund retiree benefits.
James Powell
Interestingly just tired go ogling that info, and couldn't find any results, wonder why.... Anyways most of debt is supposedly in "domestic" hands. I still have few guesses regarding foreign debt, considering the buying spree Chinese go in Canada and how Canadian government panders China politically and economically, just one example thestar.com/vancouver/2018/05/25/royal-bank-joins-air-canada-in-labeling-taiwan-as-part-of-china.html
>>Macquarie sees the USDCAD dollar rising to $1.75 ($0.57 loonie) by the end of 2019. >Macquarie sees the USDCAD dollar rising to $1.75 ($0.57 loonie) by the end of 2019.
you fag you misquoted the article
Jack Cooper
lmao i figured they were cooking those stats to make them lower than it really is
>Landlocked province >Can't send it's oil anywhere because the greencucks hate new pipelines, prefer the old ones that break constantly >Oil sector waves savagely depreciated due to TFW >Provincial budget of a banana republic linked to a single raw ressource
Alberta is fucking shit. As much as this hurts me to saw, Quebec is way better than you guys for shit like this as they have a valuable, diverse economy of exports and technology. Last time I checked, their main exports were fucking airplane parts.
Jeremiah Green
>Last time I checked, their main exports were fucking airplane parts. Quebecs largest export is probably porn and strippers desu
Andrew Moore
Disinfo Jew posted wrong info? He does that. Tfw old enough to remember 1.50 exchange rate
What derivatives, IRS, CDS, XCCY, vanilla/exotics? The Canadian MBS market is very basic in terms of derivatives. It's hard to short the Canadian housing market unless you do an OTC ISDA with a counterparty; your main options are shorting CAD, the 5 year note (which has soared, leaf mortgages are all 5 year ARMs).
All leaf banks do is give out a mortgage then take out insurance (aka a CDS) with the Canadian Government-backstopped Canadian Mortgage and Housing Corporation, which guarantees the principal in case of any default. As i stated above, they have $950B in contingent liabilities, and only $16B in equity. The Federal Government of Canada backstops them, just like the Government did in 2008 with $114B in bailouts (50% bigger per capita than the USA's $700B TARP).
Literally all of Canada's banks were bankrupt and weren't marking their books.
I make a lot of money. Fuck every one else. Is that better? My future isn't here. But right now my bank account keeps getting fatter. So fuck everything and everyone else. Bring on the rake
Isaac Adams
Hey strippers and porn is a profitable business desu
>meme flag >doesn't know what leverage is fucking brainlets
>The Canadian is immunized against all dangers: one may call him a feminist, tranny, dog fucker, it all runs off him like water off a raincoat. But tell him his country is full of chinks and poos, and that he is a 49% mutt, and you will be astonished at how he recoils, how injured he is, how he suddenly shrinks back: “I’ve been found out.”
Jacob Fisher
>feeling optimistic for a change >"I wonder what cool things the guys at Jow Forums have to share today" >your country is literally FUBAR Maybe I can sell myself into slavery in the USA to escape this vortex of virtue signalling and retarded policy making I miss Harper so much. Why did people kick him out?
>be Alberta >we gonna go our own way >no police force >no income tax regime >no control over immigration Someday, you’ll stop be niggers and actually accomplish something.
>believe the (((polls))) wew lad, if anything the NDP showing ahead will just make the socialist voters lazy and less likely to go, since "well fuck they're so far ahead my vote won't be needed"
>Clinton was said to lead close to 90% change lmao
>ignoring that we’ve passed the current oil glut >assuming we’re still a Harper oil whore gvt >assuming a low loonie is a bad thing Shit we might export manufactured goods now
Carson Jenkins
every product fell in quality, it seems, but nothing so much as the fucking employees
you used to see brown people but they'd be absolutely ecstatic to serve you, now it's just a fucking assembly line and if anything remotely out of the ordinary occurs they have to fetch the supervisor/manager to come around and blame the employee
tim's reviews have gone to absolute shit and everyone in the company is pointing their finger elsewhere
Ryan Adams
Dude weed!!! And we are doing too well, so let's suit up things a bit. Honestly it surprising how policy decisions in early 90's still shape Canada and how even conservation active government under Harper didn't have guts to change them.
Jack Ramirez
>NDP is ahead >Ford still has 50% chances of making majority gvt Even the media doesn’t believe the NDP can win.
Justin Hernandez
>Canada >Manufactured Goods
Canada's economy is non-existant. Canada is nothing but a hewer of wood and a drawer of water. All you do is sell your raw, unrefined resources mainly to the USA at substantial discounts to market prices because you're too stupid to build pipelines to the sea so you don't have to rely on your sole customer the USA. You also don't have enough refining capacity to process all your domestic production, so you have to pipe it to the Koch brothers in Texas who refine it to you then charge you the crackspread. Any skilled White worker IMMEDIATELY leaves Canada and goes to work in the USA or abroad. You literally pay kindergarten teachers with degrees in feminist literage $120,000 and high school 80 IQ cops $150,000 a year while Nuclear Engineers make $100,000 only and computer programmers live off food banks.
>do an OTC ISDA with a counterparty the fact that there is no widely available inverse instrument on the Canadian MBS market is pretty good evidence that everybody's confident in another bailout when shit inevitably hits the fan again.
The real question here is how exactly does Canadian MBS risk fit in with all of the bullshit the EU is trying to work out right now? Italy is about to implode and I guarantee the likes of HSBC and Deutsche are holding a ton of Canadian dogshit, it sounds like if you pulled either the Canadian or Italian card from the house that everything would go down.
I'm still looking for that contagion but I have a feeling it's higher up the chain and sitting in the likes of the ECB and Fed obfuscated by a bunch of bullshit
Boosting tourism is also part of the government's plan to create closer links.
The Canadian envoy to China told reporters that until now, visa offices for Chinese tourists were limited to cities where Canada has a diplomatic presence.
"This is an important element that Prime Minister Trudeau is promoting in his visit to China," said Guy Saint-Jacques, who joined Trudeau at the Great Wall of China for an announcement that the countries would co-operate on the development of Chinese national parks.
"As of this summer, you can fly to Canada from 11 cities here in China, so therefore that's why need to have more visa application centres."
>R I C E D
Jayden Hall
>it’s his fault I’m a nigger Nigger
Colton Moore
Jews
Brody Myers
yeah this is too little too late china is getting it's shit together and all these rich chinks that own houses in canada are going to cash out and leave us penniless and in possession of thousands of empty luxury homes
