The Loonie Hour

Central banks are turning increasingly hawkish as an escalating global energy crisis keeps inflation under pressure. We'll break down why policymakers are committing to higher interest rates even as the underlying inflation problem is increasingly driven by energy supply. They discuss the latest moves from the Fed and European central banks, rising global bond yields, surging oil and fuel costs, and what it could mean for Canadian mortgage rates. Meanwhile, Canada’s housing market remains frozen, with national home sales falling to their lowest year-to-date level since 2003. Join Us For The Loonie Hour Investor Series - With Ben Rabidoux, Live In Ottawa on October 13th! Get Your Tickets Here: https://www.eventbrite.com/e/the-loonie-hour-investor-series-with-ben-rabidoux-october-13th-tickets-2000313438341 Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check Out True North Mortgage's 40-Year Amortization Plan: Visit https://www.truenorthmortgage.ca/ today! Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 06:52 Canada Housing Hits a 23-Year Low 09:34 Housing Inventory & Cancelled Listings 11:11 Housing Starts Keep Falling 13:18 What Happened to the 500,000 Homes? 14:03 Should Canada Keep the Foreign Buyer Ban? 18:38 Canada’s Massive Investment Push 20:16 Canada Cuts Investment Taxes 22:55 Breaking Down the $500B Investment Commitment 24:53 Where Are the Foreign Investors? 27:13 Canada’s Biggest New Investment Projects 30:27 Did Trump Force Canada to Change Course? 34:24 Canada Embraces Energy Again 38:04 Why Investment Will Take Years to Materialize 42:26 Central Banks Turn Hawkish 46:22 Could the Bank of Canada Raise Rates? 48:02 Higher Rates Won’t Fix Energy Inflation 51:00 Global Bond Markets Under Pressure 56:12 The Global Energy Crisis Deepens 58:43 The World Is Running Out of Energy Capacity 01:01:07 Oil Tanker Costs Explode 01:02:19 Canadian Mortgage Rates Under Pressure 01:05:06 Mortgage Arrears Hit a Decade High 01:06:18 Canada & the European Union 01:09:49 Canada Already Has an EU Trade Deal 01:11:03 Europe’s Sovereign Debt Risks 01:12:28 Would Canadians Actually Move to Europe? Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #centralbank

Ben Rabidoux joins the show to break down the latest housing data, rising mortgage rates, record mortgage renewals, the ongoing shifting in economic alliances, and why delinquencies could continue climbing through 2027 and beyond. We also discuss the escalating Canada–U.S. trade dispute, inflation risks, rising global bond yields, weakness across several provincial housing markets, and how Canada’s booming energy sector might be helping keep government finances and mortgage rates under control. Join Us For The Loonie Hour Investor Series - With Ben Rabidoux, Live In Ottawa on October 13th! Get Your Tickets Here: https://www.eventbrite.com/e/the-loonie-hour-investor-series-with-ben-rabidoux-october-13th-tickets-2000313438341 Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Subscribe to Ben Rabidoux's Edge Analytics and Save $10/month forever! https://www.edgeanalytics.ca/lh39 Check Out True North Mortgage's 40-Year Amortization Plan: Visit https://www.truenorthmortgage.ca/ today! Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 08:12 Is Canada’s Housing Market Bottoming? 11:27 Mortgage Rates Are Moving Higher 16:05 When Will Bonds Become Attractive Again? 18:19 Bank of Canada Rate Hikes Are Coming 20:04 Inflation Expectations Matter 23:35 Europe Is Raising Rates Again 25:22 The Next Wave of Inflation 30:02 Canada’s Regional Housing Markets 31:40 Canada’s Rental Market Will Stay Weak 32:54 Canada-U.S. Trade War Escalates 35:01 Mortgage Delinquencies Hit Record Highs 37:16 The Mortgage Renewal Wave Is Here 40:16 Canada’s Economy Faces More Pressure 41:44 The Risk To Canadian Banks 44:58 Canada’s Money Laundering Problem 49:40 How Iranian Capital Can Enter Canada 53:09 Good News For Canada 53:31 Foreign Investors Are Buying Canadian Bonds 54:28 Oil & Gas Is Helping Balance Canada’s Budget 56:08 Is Canada Becoming More Pro-Energy? 58:35 Canada’s Politically Charged Environment 01:02:38 Bank of Canada Rate Predictions Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #bondmarket

Global bond markets are flashing warning signs as long-term yields surge across Japan, the UK, France, and other major economies, raising new concerns about government debt, inflation, and financial stability. Meanwhile, Canada’s housing market remains under pressure, Vancouver records its slowest August sales since 2012, and rising energy prices could complicate the outlook for inflation and interest rates within the country. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 05:14 Vancouver Housing Sales Hit 2012 Lows 09:48 Builders Get Aggressive on Prices 14:56 Rent Controls & Canada’s Housing Supply 22:46 Why Rent Controls Don’t Work 27:50 Bank of Canada & Interest Rates 30:36 Central Banks Talk Tough on Inflation 38:01 Global Bond Yields Are Surging 41:39 Is a Sovereign Debt Crisis Coming? 43:15 The Ultimate Bond Market Bear Trap 45:38 Canada’s GDP Gets Revised Higher 47:55 Could the Bank of Canada Raise Rates? 51:15 The Overlooked Energy Trade 52:55 Russia-Ukraine Energy Infrastructure Attacks 56:32 Global Oil & Natural Gas Supply Tightens 59:38 The Bull Case for Commodities 01:01:50 Energy Prices Are Spiking 01:04:36 The Opportunity in Higher Oil Prices Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #bondmarket

We are joined by chief economist Peter Berezin at BCA Research to discuss the intensifying trade wars, the AI Boom, and the sovereign debt bubble. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check out Saily at https://www.saily.com/looniehour and use our promo code 'LOONIEHOUR' to get 15% off your first purchase! Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 04:29 Canada-US Trade Deal Falls Apart 05:59 Carney Moves Closer to Europe 08:20 What Happens Without a Trade Deal? 11:13 Is This Really About Canada or China? 12:21 Peter Berezin Joins the Show 13:33 Economic Impact of the Canada-U.S. Trade War 15:20 Could Canada Actually Win? 17:09 Risk of Canada Losing Manufacturing 17:49 Could More Stimulus Be Coming? 19:36 Canada's Productivity Problem 22:22 How Canada Can Turn Things Around 24:05 How Transformational Will AI Really Be? 26:26 The Massive AI Spending Boom 27:37 AI's $10 Trillion Revenue Problem 30:26 Are Corporate Margins Sustainable? 33:40 AI Agents, Stablecoins & Crypto 35:06 Why Long-Term Bond Yields Keep Rising 37:50 The Growing Government Debt Problem 40:06 Fed Liquidity & Quantitative Easing 41:20 Stock Market Outlook 42:14 Peter's Portfolio 43:39 Inside Goldman Sachs During the 2008 Crisis 45:57 Current Investment Opportunities? 49:08 Final Thoughts on Peter Berezin 51:05 The Coming Food Inflation Problem 54:50 Are We Entering a Commodity Boom? 55:35 Could the Bank of Canada Cut Rates? 58:21 Final Thoughts Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #tradewar

The U.S. Treasury is taking steps that could help suppress long-term interest rates as exploding government debt and interest costs put increasing pressure on the financial system. We break down what this shift means for bonds, the U.S. dollar, commodities, Canadian housing and global markets. We also touch on Canada-U.S. trade, the Churchill Falls energy deal, rising diesel prices, Argentina, various speculative assets like crypto and Bitcoin skyrocketing, and the worsening economic slowdown in China. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check out Saily at https://www.saily.com/looniehour and use our promo code 'LOONIEHOUR' to get 15% off your first purchase! Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 08:21 Canadian Housing Update 13:22 Mortgage Rates and Housing Risk 16:04 Canada-U.S. Trade Deal 17:48 Churchill Falls Energy Megadeal 26:53 The U.S. Bond Market Intervention 30:58 How the Treasury Is Suppressing Long Rates 35:53 America’s Exploding Interest Costs 40:36 Canada’s Debt Problem 46:37 What Higher Rates Would Do to Housing 50:48 Commodities vs Financial Repression 54:17 The Commodity Supercycle 56:50 Diesel Prices Are Surging 57:57 Argentina and the Currency Crisis 01:02:52 China’s Economy Is Getting Worse 01:07:25 Global Macro Trends Are Strengthening 01:08:03 Canada Inflation Update 01:08:45 Closing Thoughts Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #globaldebt

We sit down with Jim Thorne, Chief Market Strategist at Wellington-Altus Private Wealth, where he believes that we are setting up for a Secular Bull Market coming up. We go through the global debt problem, and why AI could fuel a massive new investment cycle. Lastly, we'll touch on falling rates, explosive earnings growth, Bitcoin’s generational opportunity, and whether today’s technology boom ultimately ends like the dot-com bubble. We also discuss Canada’s economic challenges, a country deserving to be one of wealthiest in the world, yet decades of poor policy and underinvestment have left us falling behind. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check out Saily at https://www.saily.com/looniehour and use our promo code 'LOONIEHOUR' to get 15% off your first purchase! Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 04:41 Introducing Jim Thorne 10:39 What Went Wrong With Canadian Finance? 13:45 Why Canada Is Falling Behind 16:04 Canada’s Natural Resource Problem 22:41 The Global Debt Problem 24:36 Canada Enters Secular Stagnation 29:01 The AI CAPEX Supercycle 33:15 What Happens to Canada and Europe? 34:43 Trump’s Economic Strategy 36:17 Carney Understands the Global Pivot? 38:37 The Problem With Canadian Banks 39:24 Canada’s Coming Structural Adjustment 44:21 Why Higher Rates Can Increase Inflation 45:19 The Fed’s Next Move 49:36 AI, Growth, and the Stock Market 50:19 Why Jim Thinks Bond Yields Fall 56:09 Trump, Crypto, and Tokenization 57:31 The Great Bond Debate 58:07 The Bitcoin Debasement Trade 58:31 “Bitcoin Is a Generational Opportunity” 01:00:40 Post-Interview Reaction 01:02:47 The End of the Keynesian Supercycle 01:05:08 America’s Exploding Interest Bill 01:06:00 Gold, Bitcoin, and Debasement 01:09:35 Can AI Solve the Demographic Problem? 01:11:24 America Is Sucking Capital From the World 01:12:31 The AI Agent Economy 01:13:51 Another Dot-Com Bubble? 01:15:27 Outro Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #bullmarket

Why is the US stepping in to help Japan, and what does it mean for Canadians? China’s multi-decade tax crackdown, and $2.7 billion in new federal funding for rental units - plus the latest data on Canadian housing and rate expectations. Stay Up To Date With The Loonie Hour Substack: https://looniehour.substack.com/about Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule an exploration call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 0:00 Introduction 06:29 Canada’s Housing Market Still Struggling 09:24 Condo Inventory Is Finally Falling 10:50 Where Are Canadian Mortgage Rates Going? 14:58 Is the Housing Crisis Already Being Solved? 18:42 Canada’s Housing Affordability Is Improving 20:11 Is Canada Becoming a Nation of Renters? 23:06 China Launches a Global Tax Hunt 25:21 China’s Banking System Is in Trouble 29:55 Real Estate vs Gold as a Store of Wealth 33:04 Japan’s Yen Crisis Explodes 35:39 The U.S. Steps In to Help Japan 38:13 Why Global Bond Yields Are Rising 41:06 Why America Is Helping Japan 43:34 The U.S. Dollar “Escape Room” 47:15 Trump, Warsh and the Federal Reserve 49:09 Is the Treasury Manipulating the Yield Curve? 51:34 U.S. Housing Is Completely Frozen 53:28 The Politics Behind the Yen Intervention 55:22 Could Jackson Hole Bring a Major Policy Shift? 56:35 America’s 7% Mortgage Problem 58:31 Where Does the Yen Go From Here? 01:00:25 Gold Is Starting to Move Again Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #federalreserve

The Federal Reserve is changing how it communicates with markets, and the ripple effects are being felt across bonds, currencies, housing, and equities. We break down Kevin Warsh’s shift away from forward guidance, why long-term Treasury yields continue to climb, and what it could mean for interest rates going forward. We also discuss New York’s proposed second-home tax and government-backed grocery stores, the escalating conflict between the US and Iran, Korea’s margin-call meltdown, growing weakness in the bond market, pressure on the Canadian dollar, and why the energy sector may present one of today’s most compelling investment opportunities. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule a call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 04:58 Canada’s Housing Bailouts Aren’t Working 09:14 Will Higher Taxes Drive Capital Away? 15:31 Canada’s Empty Homes Taxes 16:57 When Homeowners Are Forced to Sell 20:10 Could Canadian Housing Stagnate for a Decade? 21:51 Kevin Warsh’s New Federal Reserve 22:51 The End of Forward Guidance 24:44 Why the Fed May Raise Interest Rates 26:22 Is the US Dollar About to Explode Higher? 28:34 Quantitative Easing Never Really Ended 30:50 What to Expect at Jackson Hole 32:19 US 30-Year Treasury Yields Surge 33:49 Could Long-Term Rates Eventually Reach 20%? 37:02 America’s Growing Debt Wall 39:01 Why the Bond Market Keeps Deteriorating 41:48 The US-Iran War Escalates Again 42:44 Are We Already in World War III? 45:13 The Rotation Out of Technology Stocks 46:22 Korea’s Leveraged Investing Disaster 47:02 The AI Hedge Fund That Blew Up 50:59 The Market’s Back-to-Back Bubbles 52:15 Hedge Funds Turn Bearish on the Canadian Dollar 54:26 The Market’s Biggest Current Debate 55:12 US Mortgage Rates Reach a One-Year High 56:19 America’s Multifamily Housing Crisis 57:06 Cheap Money Created an Oversupply Problem 57:30 The Feds Inflated Home Prices Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #geopolitics

Geopolitical Expert Dr. Pippa Malmgren breaks down what is really driving global markets, energy policy, and the massive geopolitical shifts happening right now. We looked at why & why the US is reshaping global energy control, the tough choice Canada faces between old European ties and a changing American strategy, and where the global economy is heading next as tech, nuclear power, and space take over. Visit Dr. Pippa Malmgren's Substack here: https://substack.com/@drpippa Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule a call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 07:43 Pippa Malmgren Joins the Show 10:21 The Nuclear Energy Revolution 11:44 Globalism Is Changing 14:44 Which Countries Are Embracing the Future? 20:56 What Canadians Are Missing About America 26:18 AI Is Creating a New Economic Model 28:44 Does Canada Discourage Risk-Taking? 33:51 The Arctic, Space & the New Global Economy 37:17 Data Centers Are Moving to Space 39:13 Small Modular Reactors & Unlimited Energy 43:36 Why Nuclear War Is No Longer an Option 46:30 China, Russia & the Push for Peace 50:30 What Happens After Trump Leaves? 53:35 Iran, Venezuela, Taiwan & Ukraine Are Connected 54:28 Moving the World Beyond Oil & Gas 55:45 Canada’s Identity Crisis 1:01:02 Establishment vs. Anti-Establishment 1:01:55 The World in 5–10 Years 1:05:52 What Rwanda Can Teach Canada 1:06:54 Canada Could Become a Space Nation? Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #geopolitics

Today, we are joined for the fourth time by energy and policy expert Heather Exner-Pirot to discuss Canada's dramatic shift in energy policy and what it means for the country's future. We break down the push to build new pipelines, the growing role of nuclear power and critical minerals, and why Ottawa is embracing major infrastructure projects after years of opposition. We also examine the Bank of Canada's latest interest rate decision, why policymakers are keeping a close eye on oil prices, and what it all means for inflation, housing, and the Canadian economy. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule a call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 05:10 Canada's Housing Market Conditions 07:21 Condos Are Still Struggling 15:14 Heather Exner-Pirot Joins The Show 16:51 Do We Have Our Next Pipeline? 27:05 Ottawa and Alberta's Oil 39:54 Oil Sands Story 43:53 Legal Risks for Future Pipelines 48:06 Canada's Nuclear Future 50:59 CANDU Nuclear Story 53:59 Canada's Critical Minerals 59:59 The Future of Canada's Energy Sector 1:03:11 Canada's Looming Electricity Issue 1:06:48 BOC Holds Rates 1:09:47 Higher Oil Prices Implications 1:13:01 Spending More With Debt Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #macroeconomics

We're joined by macro strategist Kevin Muir—famously known online as The Macro Tourist—to break down the massive fiscal deficits pushing markets forward. We dive into the staggering reality of Canada’s new government-funded pipeline project, which is costing a massive $35B+ but driving up to 140,000 jobs. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule a call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour [10/07/26, 7:48:33 PM] ~ Jeff: Timestamps: 00:00 Introduction 04:49 Oil, Iran, Pipelines, And More 08:24 Introducing Kevin Muir 13:10 Opposing Views 14:02 Will The Bank of Canada Cut Rates? 15:29 Why The Feds Could Turn Hawkish 17:24 The Bond Market and Kevin Warsh 20:18 Rate Hike Probability 23:17 A Different Rate Cycle 26:04 Modern Monetary Theory 27:19 Government Spending In Inflation 29:20 The Pipeline Story and Fiscal Spending 30:02 Did Deficits Help The U.S.? 32:08 The Rest Of The World Follows 35:37 Canada's Financial Position Globally 37:26 Could Canadian Capital Return Home? 38:54 Another Global Stimulus? 39:40 The NATO Defense Spending Expansion 41:12 Canada's Looming Commodity Boom 44:10 The MMT and Politics 44:55 The Next Major Commodity Cycle 51:26 Why Oil Became An Attractive Investment 54:05 Long Term Bullish Oil Thesis 1:01:26 What's The Next Market Bubble? 1:05:18 Canadian Growth May Take Years 1:06:29 The Alberta Pipeline Story 1:09:39 Canada's Economic Outlook Improves 1:10:00 Is Defense Spending Economically Productive? 1:12:13 Canada's Trade Surplus 1:12:57 All Eyes On The BOC's Next Meeting Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #macroeconomics

Mark Carney just admitted the last decade of energy policy was a total bust and didn't fit economic reality, so we're breaking down his massive pivot on Canadian oil and gas. We also hit on the US-Iran deal being a temporary play for the midterms, the stock market ditching tech for safe-haven sectors, and the economic mess left behind after Canada, the US, and Mexico missed their big July 1st trade deadline. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Schedule a call with IceCap Asset Management: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 02:38 Why Nuclear Is Canada's Competitive Advantage 05:24 Canada's Push Toward New Nuclear Projects 09:26 Public Fear Versus Nuclear Reality 10:40 Europe's Heat Wave & Air Conditioning Debate 17:20 Climate Policies Versus Human Comfort 17:57 Mark Carney's Major Energy Announcement 20:09 The Political Cost of Energy Policies 25:14 Canada's Massive Economic Opportunity 31:53 Current Accounts, Trade, and National Wealth 34:29 Oil & Gas, and Economic Reality 36:20 What Happens to the Loonie 38:30 US Midterms Predicament 39:11 Geopolitical Outlook & Peace Deal 42:50 Understanding the Oil Crack Spread 44:37 Can Commodity Markets Be Manipulated? 48:54 What Happens If Bond Markets Collapse 55:27 The Cost of Long-Term Uncertainty 57:13 Brexit Parallels and Economic Lessons 59:27 Why None of This Is Positive Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #carney

The Canadian Condo Bailout lands in Vancouver, & Dan Foch fills us in. Which condos will the government buy, and is it going to be good value for tax payers? These are the questions we are trying to unravel. Energy expert Mike Rothman joins the show to share the details of why oil is being underestimated, and where he thinks it’s heading. Check out the latest Loonie Hour Substack post here! https://open.substack.com/pub/looniehour/p/canadas-big-short-moment?r=2g3ok&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true Check out Mike Rothman's Macro Energy research at https://www.cornerstoneanalytics.com/index.html Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Join Seeking Alpha Premium And Get 25% Off Today!: https://link.seekingalpha.com/52636H6/4G6SHH/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 04:46 Introducing Our Guests! 05:26 The Canadian Condo Bailout Begins 07:29 Kevin Warsh & The Feds 08:41 Prepare For Volatility 13:41 The Problem With Government Intervention 16:07 Condo Program Breakdown 17:18 Who Benefits From The Bailout? 19:52 Why Investors Wouldn't Buy First? 23:34 Dog Crate Condos and Falling Demand 24:46 Could Prices Fall Another 50~75% 30:42 Wasting Government Spending 31:48 Housing Policy and Unintended Consequences 36:01 Canada's Real Estate Identity Crisis 40:32 Transition to Mike Rothman 41:47 Canadian Oil Bull Case 42:57 Responding to Anti-Oil Narratives 44:19 Oil Became Politically Toxic 50:28 Supply Constraints Are Getting Worse 53:21 Why Energy Investment Never Came Back 56:27 Russia, Ukraine, and Energy Geopolitics 59:11 Europe's Energy Mistakes 1:00:17 Long-Term Commodity Supercycles 1:05:17 Cushing Crude Stocks Explained 1:06:31 Physical Markets vs Financial Markets 1:12:05 Why Markets Ignored The Signs? 1:18:09 Green Energy Realities vs Oil Demand 1:20:52 Why Oil Still Matters For Decades? 1:25:06 Economic Cost of Inaction 1:28:11 Lessons From Global Credit Crisis 1:32:18 Canada's Future Growth Potential 1:35 What Canada Needs To Do Next? Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #macroeconomics

The Canadian government is rushing to pass sweeping regulations that will change privacy and social media forever. The US and Iran reach an agreement. Oil tumbles. The Fed signals rate hikes are coming. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Join Seeking Alpha Premium And Get 25% Off Today!: https://link.seekingalpha.com/52636H6/4G6SHH/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 05:11 The Push for New Speech Laws 07:49 Bill C-2, Bill C-22 and Government Overreach 15:44 Sam Cooper Joins the Show 17:04 Canada's New Laws Lack of Coverage 20:39 China's Influence and Interference? 25:47 UK Speech Crackdown Comparison 30:32 Bill C-22's Data Collection Concerns 35:28 Canada's Strategic Position 41:25 Privacy Rights, Surveillance & Government Tracking 49:20 Charter Rights, Legal Costs & Unequal Justice 55:58 Chinese Organized Crime 58:16 Canada's Money Laundering Problem 1:02:44 Immigration, Politics & Public Sentiment 1:06:42 Global Conflict, Commodities & Inflation 1:10:47 Federal Reserve Communication Changes 1:15:01 What the Fed Is Really Signaling? Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #carney

What's really happening in Iran? The European Central Bank is going to suffocate the economy. The future of money and Ai. Global inflation rips higher. The Bank of Canada is stuck in an uncomfortable dilemma. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Join Seeking Alpha Premium And Get 25% Off Today!: https://link.seekingalpha.com/52636H6/4G6SHH/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 03:24 Episode 245 Recap & Ben Rabidoux Discussion 07:14 Cold War 2? 11:19 AI Infrastructure, Data Centers & Commoditization 16:15 Why AI Stocks May Face Pressure 21:07 The Energy Crisis Behind AI Growth 25:10 Stablecoins & Traditional Finance 30:17 The Future of Money 34:33 Crypto And Blockchain Adoption 38:53 Hidden Risks in Financial Systems 43:12 Oil, Inflation, and Global Markets 46:57 Why Politicians Keep Getting Economics Wrong? 51:16 Europe’s Economic Decline 55:59 Tesla, EVs, and Industrial Policy 01:00:05 Future Outlook: Markets, AI, and Geopolitics 01:04:14 Next 12–36 Months Outlook 01:08:05 Market Predictions! 01:12:05 Inflation, PMIs, and Economic Indicators 01:20:06 Canadian Housing and Mortgage Stress 01:24:31 Canada’s Economic Future Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #recession

Credit delinquencies are still rising. The bull case for single family housing. The flood of rental supply, and the death of the pre-sale condo. Bonus episode with Ben Rabidoux of Edge Analytics. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Edge Analytics – EDGE30 / EDGE330 for $30/month, $330/year: https://www.edgeanalytics.ca ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 04:34 Canada's Technical Recession 6:24 Housing Weakness Spreads Through The Economy 8:25 Ontario's Economic Slowdown 12:00 Canada's Productivity Crisis 14:12 Why Do We Keep Falling Behind? 19:41 Delinuences, Defaults & Mortgage Stress 22:45 Canada's Oil Prices & Energy Markets 24:45 Why Alberta's So Resilient? 29:27 Mortgage Spreads & Lending Trends 32:38 First Nations Land Claims & Property Rights Debate 35:58 Consumer Spending Is Slowing 39:09 Canada's Population Growth Problem 45:50 Rental Market Correction Inbound 49:24 How Much Lower Can Home Prices Go? 52:42 Young Canadians Are Squeezed 56:01 Single-Family Homes Hits Historic Lows 01:04:10 Are We Near The Bottom? 1:06:01 Vancouver Real Estate Forecast 1:09:09 Consumer Sentiment & What's Next Written, shot and produced by Unforgettable Studios (Adam “DC” Darvay-Canavor & Alvin Keung) https://www.unforgettablestudios.ca adam@adamdc.ca https://www.instagram.com/adamdcmedia/ Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #recession

Canada enters a "technical" recession. The curious case of the Bank of Canada's gold reserves. The Bitcoin bear market deepens. Canada has the second largest Natural Gas reserves in the world. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Join Seeking Alpha Premium And Get 25% Off Today!: https://link.seekingalpha.com/52636H6/4G6SHH/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 05:31 Housing Market Bottomed? 10:14 Timing the Bond Market Crisis 11:53 Why Bond ETFs May Be Riskier Than Investors Think 14:06 Demographics, Labor Supply & Selling Pressure 15:59 Will Governments React Too Late? 19:23 Why Canada Sold Its Gold 20:58 Gold as a Strategic National Asset 23:03 Has Canada Entered a Technical Recession? 26:10 GDP, Productivity & Population Growth 27:22 Canada's Housing Crisis vs Population Crisis 28:22 Commodities, Debt & Government Spending 29:19 Is There Any Good News in Canada? 32:08 BC Hydro, Electricity Rates & Government Policy 34:01 BC's Looming Power Shortage 37:28 Energy Reality vs Political Narratives 38:54 Natural Gas, Emissions & Energy Security 40:28 Economic Weakness Is Starting to Show 41:13 Mortgage Renewals & Household Stress 42:03 Rising Delinquencies Across Canada 43:12 Distressed Sales Hit 25-Year High 44:19 Foreclosures, Courts & Forced Sales 45:09 What's Driving Financial Stress? 49:08 Why Investors Are Sleeping on Gold 50:24 Gold's Recent Weakness Creates Opportunity 51:14 Crypto, Currency Debasement & Market Cycles 52:16 Revisiting Crypto Risks 53:34 Investor Series Preview & Positioning for What's Next 54:30 Why Worrying Doesn't Help Investors 55:07 Strategic Oil Reserves Around the World 56:14 Oil Markets, Reserves & Supply Constraints Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #canada #recession

Bill C22 threatens individual privacy rights and opens the door for state surveillance. Tim Hortons says that they'll abandon temporary foreign workers. Canada signs massive LNG deal with Germany. Has the Canada Pension Plan underperformed? Tickets to The Loonie Hour Investor Series Toronto event are now SOLD OUT . Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Request a consultation with IceCap Asset Management today: https://icecapassetmanagement.com/contact/ ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Timestamps: 00:00 Introduction 05:15 Tickets Sold Out - See You Soon! 07:57 Bill C-11 Recap & Streaming Act Overview 10:30 Government Control, Privacy & Digital Rights 15:31 Why Netflix & Apple Object 24:15 Who Benefits From These Policies? 30:00 Online News Act Explained 32:24 Is The Online News Act Just A Tax? 40:17 Metadata Collection Creates A Surveillance Map 43:50 Do Canadians Have A Right To Privacy? 51:46 Why Governments Want More Control 55:42 What Can Canadians Do? 01:02:00 Germany's Energy Crisis 01:03:31 Nord Stream & European Natural Gas 01:05:08 Europe Quietly Returning To Fossil Fuels 01:07:47 Steven Guilbeault Steps Down 01:08:32 Tim Hortons & Temporary Foreign Workers 01:10:15 Canada's Immigration Policy Reversal 01:11:41 Immigration Fraud & Diploma Mills 01:23:03 Why Pension Funds Can't Just Buy ETFs 01:24:25 Career Risk In Pension Management 01:26:10 The Incentives Driving Pension Decisions Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #canada

Global bond yields keep pushing higher. Inflation data shows little signs of easing. The future of Canada's electrical grid. Euphoria hits Korean stock market. Join Us For The Loonie Hour Investor Series - With Ron Butler and Daniel Foch, Live In Toronto on June 3rd! Get Your Tickets Here! https://www.eventbrite.com/e/the-loonie-hour-investor-series-with-ron-butler-daniel-foch-june-3rd-tickets-1990129219067 Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check out Saily at https://www.saily.com/looniehour and use our promo code 'LOONIEHOUR' to get 15% off your first purchase! ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour

Inflation ticks higher. Bond yields hit 19 year high. Bonds are no longer the safety hedge your retirement depends on. Another distressed condo fund emerges in Toronto. Start an investment portfolio that's built to perform with Neighbourhood Holdings! For Mortgage Brokers: https://www.neighbourhood.com/looniehour-brokers For Investors and Advisors: https://www.neighbourhood.com/looniehour Check out Saily at https://www.saily.com/looniehour and use our promo code 'LOONIEHOUR' to get 15% off your first purchase! ✉️ Media & Real Estate Inquiries: steve@stevesaretsky.com Stay up to date with our information - 📫 My Real Estate Substack: https://stevesaretsky.substack.com 📫 The Loonie Hour Substack: https://looniehour.substack.com/about 📊➡️ Loonie Hour Socials: https://linktr.ee/looniehour 🎙️ Listen to the Podcast on Your Preferred Platform: https://linktr.ee/looniehour Disclaimer: The information within our content is not intended to be or construed as investment advice. Please consult a professional advisor before putting a "loonie" into any of these financial markets. #LoonieHour #macroeconomics #bondmarket