ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
August 16, 2023 | Seeing Truth Through Financial Market Noise
Chief Strategist of QI Research Danielle DiMartino Booth points out that downward revisions in economic data are revealing the truth about the economy far too late and when few are paying attention. As many hail a new bull market, Danielle sees a number of alarming indicators that are outside the focus of the mainstream media […]
August 15, 2023 | Tumbling Property Prices Bring Opportunity
In the second quarter of 2023, distressed commercial real estate volume grew by $8 billion–the largest quarterly increase since the second quarter of 2020. The WSJ reports that Wall Street firms are raising new funds to acquire office buildings, apartments and other troubled commercial real estate at a fraction of the price investors paid a few […]
August 13, 2023 | Danielle on CBC Weekend Business Panel
Danielle was a guest with Linda Ward on the CBC Weekend Business Panel. You can view a video of the segment here.
August 12, 2023 | ECRI: Recession Still Imminent
Independent measurements and insights (i.e., not coming from investment sales firms) are very rare and valuable. You have to know where to look and also want to see. ECRI’s Lakshman Achuthan updates on the business and market cycle in the segment below, starting at 3:50 on the play bar. MacroVoices welcome ECRI @businesscycle co-founder Lakshman […]
August 11, 2023 | Oxford Economics: Canada’s Real Estate Downturn “Far From Over”
After past housing bubble peaks in Canada and elsewhere, home prices contracted 25%+ nationally and stayed relatively flat in the following decade or so. That allowed incomes to advance on shelter costs and restore affordability over time. A similar pattern is the base case this time, as well. Much needed. Tony Stillo, director of economics […]
August 10, 2023 | Record Debt Payments and Rising Unemployment
US household debt has surpassed a fresh record of $17.1 trillion. $12 trillion is in mortgages (more than twice the 2006 bubble top), $1.6 trillion in auto loans, and over $1 trillion in credit card debt, all with the highest interest rates in 22 years and rising unemployment. Courtesy of Bloomberg, the chart below shows the […]
August 9, 2023 | No Time For Delusions
Bullish sentiment roared back in the first half of 2023 on the blind belief that low unemployment numbers mean that this time is different and the sharpest monetary tightening in 40 years is not triggering a recession. In reality, changes in unemployment lag behind changes in monetary policy by 12 to 24 months, and mainstream […]
August 8, 2023 | “Normalized” Rates and Record Debt Mean Tough Times
Canadian banks are offering mortgage rates above 6% for 1, 2, 3, 4 and 6-year terms on new purchases (below via Ratehub). Home equity lines of credit are above 7%. These are historically average mortgage rates. The trouble is that after 13 years of unnaturally low rates (2009-2022), people are carrying debt loads far above the long-term […]
August 4, 2023 | Homeownership Becoming a Nightmare for Many
Each week I hear from people who bought Canadian homes over the past few years–whether as primary residences, secondary homes or rentals–and now they realize that they will need to sell. Most are facing capital losses in doing so, but the cost of continued ownership is simply unsustainable. Some recognize that location changes they made […]
August 2, 2023 | Dan Ariely: Don’t Make These Money Mistakes
When it comes to money, because it’s so quantifiable, you’d expect people to make very rational decisions. But they don’t. Because we’re humans, we’re more driven by our evolutionary wiring and our emotions. We make “predictably irrational” decisions, as today’s guest expert would say. Dan Ariely is the James B. Duke Professor of Psychology and […]
August 1, 2023 | Rising Stock Markets Overlook Broad Economic Deterioration
The year-over-year leap in the Fed Funds Rate (inverted on the lower right in orange) is leading ISM new orders down (green line on the lower right). ISM new orders (lower left, in orange, since 2002) lead corporate revenues (green). The chart below, courtesy of Francois Trahan, suggests the trends in motion. Jubilant corporate bond and […]