The Loonie Hour

By Steve Saretsky

What's The Loonie Hour about?

The Loonie Hour is a Canadian based macro economic podcast covering newsworthy events across the globe and how they will impact Canadians.

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The Loonie Hour episodes:

05.17.2024
Markets Melt Higher as Economic Data Weakens
US CPI cooled last month, along with retail sales. Canadian job numbers surprise to the upside giving further hesitation for the Bank of Canada. Banning China EV's, batteries and solar panels despite the war on climate change? Financial Markets drift...
05.10.2024
The Central Bank Endgame- w/ guest Grant Williams
Governments are broke, and central banks are trying to maintain the illusion of stability. The next decade will not be like the last one, prepare for volatility. Inflation, interest rates, and political risks abound. House prices have created massive inequality...
05.03.2024
Currency Crisis in Japan?
The Japanese Yen has fallen almost 50% against the US dollar since 2020. Attempts to intervene are failing. The USD needs to go lower through Fed easing. The Bank of Canada desperately wants to cut. GDP on a per capita...
04.26.2024
How China is Interfering in Canadian Elections, Exposing Corruption w/ guest Sam Cooper.
How China is interfering in federal elections in Canada, spreading fentanyl, and exacerbating a housing crisis. Special interview with independent journalist Sam Cooper. Check out Sam's book, Willful Blindness. We also discuss markets pricing out fed rate cuts, weak Canadian...
04.19.2024
Federal Budget Predicts Falling Interest Rates, No Recession?
The federal government dropped their latest budget which predicts no recession and falling interest rates. Will this make the Bank of Canada's job more difficult? Increased capital gains taxes will come with consequences, particularly for entrepreneurs. Who is really running...
04.12.2024
US Inflation Derails the Bond Market
This week's episode we are joined by Chace Barber of Edison Motors to discuss the government grant scandal impacting their EV truck company. We then discuss US inflation, surging bond yields, desperate housing policy changes. Check Out BMO's S&P; 500 Index...
04.05.2024
Are financial markets getting complacent?
Government spending pouring fuel on the fire at the Bank of Canada. Bond yields pushing higher as growing concerns over fewer rate cuts. Oil continues to climb higher. Are financial markets getting complacent? Check out industry-leading BMO ETFs here: https://www.bmogam.com/ca-en/products/exchange-traded-funds/find-an-etf/?ecid=dw-LHPODNovGAM1-ADBMO26 See...
03.29.2024
Immigration Cuts Could Push Canada into Hard Landing- w/ Ben Rabidoux
Immigration Minister announces big cuts to population growth. How will this slow the economy and rents? Rabidoux thinks the Bank of Canada will have to cut rates more than expected. OSFI keeps the mortgage stress test on lender switches. Trudeau announces renters...
03.22.2024
Central Banks are Going to Cut Rates into Accelerating Inflation
Canadian house prices bounce higher. Inflation dips in Canada. Central banks around the world are preparing to cut rates as commodity prices jump and financial markets rip. The Federal Government starts buying mortgage bonds. Check out industry-leading BMO ETFs here: https://www.bmogam.com/ca-en/products/exchange-traded-funds/find-an-etf/?ecid=dw-LHPODNovGAM1-ADBMO26 Check...
03.15.2024
Canadian Living Standards are Falling
Premiers across the country are demanding Trudeau to pause the Carbon tax increase. US inflation jumps on higher producer prices. The crypto bull market is back. Rich takes the helm at the Bank of Canada. Check out industry-leading BMO ETFs here:...
03.08.2024
Canadian Businesses are Failing at the Highest Rate Since 2006
Business insolvencies are surging. Mortgage arrears are climbing, albeit coming off record lows. The Bank of Canada holds rates. Federal Government attempting to mandate allocation of pension dollars. Markets awaiting US jobs data this week. Check out industry-leading BMO ETFs here:...
03.01.2024
No Rate Cuts from The Bank of Canada this Year?
Tiff Macklem is on deck next week. Bitcoin hits record highs in Canadian dollars. Financial conditions are easing, pushing US equities and inflation higher. Canadian banks report earnings, the mortgage renewal wall is still a very big problem. GDP per capita...
02.23.2024
Canadian Farmers are Bracing for Tough Times Ahead- w/ guest Shaun Haney
Commodity prices are falling, interest rates are up, and government policy is hurting Canadian farmer profits. Inflation in Canada plummets as retail sales slide. More politicians are looking for rate cuts. Troubles are mounting at European banks. Check out industry-leading BMO...
02.16.2024
Higher for Longer? You can thank the US Economy
CPI inflation came in hot once again in the US. Bond yield volatility surges. Markets removing rate cut expectations. Recessions in Japan and the UK. Construction costs in Canada are finally coming down. The $60M ArriveScam issue. The carbon tax rebrands. Check...
02.09.2024
Real Estate Crisis Brings Deflation to China
US jobs numbers come in hotter than expected, boosting bond yields higher. Jerome Powell speaks on 60 minutes interview. Canadians could be jailed for promoting the benefits of oil and gas. China is experiencing deflation, deepening financial woes. Commercial property...
02.02.2024
The Economic Shock Will Come from Outside the US
Commercial Real Estate is dragging global banks lower. Powell pushes back rate cuts. The return of bidding wars in the housing market? Europe is drifting towards deflation. China property crisis deepens, Evergrande to liquidate holdings. Check out industry-leading BMO ETFs here:...
01.26.2024
Nobody is Positioned for a Second Wave of Inflation- w/ guest Tian Yang
Bank of Canada holds rates, but signals transition. Federal Government caps immigration of foreign students. Business bankruptcies in Canada are soaring. US GDP comes in hot, defies recession calls. ECB holds rates. China financial risks and how they impact Vancouver Real...
01.19.2024
Hopes of Rate Cuts from the Bank of Canada are Starting to Fade
Core inflation in Canada came in hotter than expected. Immigration continues to pressure shelter inflation, creating further challenges for the Bank of Canada. The Feds contemplate limiting foreign students in several provinces. Bond yields push higher. Nuclear energy coming to Alberta. The...
01.12.2024
Inflation Jumps Higher than Forecasted- w/ guest Jared Dillian
Inflation remains sticky but the Fed will still cut. Could this spark a second wave of inflation? Guest Jared Dillian, author of The Daily Dirtnap suggests the stock market is on the cusp of a pull-back. Trading sentiment tops and...
01.05.2024
The Perils of The Green Energy Transition- w/ guest Doomberg
We interview energy expert, and popular newsletter writer Doomberg on the green energy transition. Net zero cars, nuclear energy, solar and wind, this is a masterclass on all things energy. There are no solutions, only trade offs, and Doomberg provides...
12.29.2023
Is Canada on the Verge of a Debt Crisis?
We discuss Pierre Poilievres video that has gone viral regarding a potential debt crisis in Canada. Our total debt to GDP sits at 305% and is one of the highest in the G20. This has garnered responses from Chrystia Freeland,...
12.22.2023
Canada Mandates Zero-Emission Vehicles During Cost of Living Crisis
All vehicles sold in Canada must be hybrid or electric by 2035. We interviewed transportation energy expert David Rapson to discuss the economic impacts and the viability of the mandates. Reckless population growth running at highest levels in nearly 70...
12.15.2023
Did Central Banks Just Pivot?
The Fed shocks the market with a dovish outlook, forecasts 3 rate cuts next year. Bond yields tumble. Is a soft landing a fantasy or reality? Canadian mortgage rates are falling along with home prices. See omnystudio.com/listener for privacy information.
12.08.2023
Waiting on the Bank of Canada to Cut Rates
The Bank of Canada held rates again. Markets are expecting 100bps of rate cuts in 2024. Bond yields continue to tumble. Will housing perk up? Keep an eye on US non-farm payrolls. COP 28 brings big promises and big problems for...
12.01.2023
Canadian Banks Bracing For a Weaker Economy
Canadian banks reported earnings this week. Nearly all of them significantly increased their provision for loan losses. The economy contracted in Q3. Markets are betting on the BoC to cut rates next year. US still holding up. Check out industry-leading BMO...
11.24.2023
Without Nuclear Canada's Energy Transition is Doomed, w/ guest Dr. Chris Keefer
We interview the president of Canadians for Nuclear energy Dr. Chris Keefer to discuss nuclear energy and why the current government has suddenly taken a u-turn on nuclear energy policy. We then discuss the Federal budget update, housing funds and the...
11.17.2023
How to Slow Canada's Food Inflation Problem - with guest The Food Professor
Dr. Sylvain Charlebois aka The Food Professor joins the podcast to discuss food inflation hitting Canadian wallets. His Battle with the Bank of Canada, and the impacts of the carbon tax. Keith and Steve then discuss the recession playbook. US...
11.10.2023
Canada's Biggest Retailers Warn Consumers are Tapped Out
Bank of Canada flags government spending in 2024. Canadian Tire and its chain of retailers warn about weak consumer demand, job cuts. BC Government unveils drastic housing supply changes. Arrive Canada Scam heats up. Feds Jay Powell spooks markets. Check out...
11.03.2023
Consumer Confidence in Canada Plummets to Lowest Levels since 1982
Confidence plunges as recession hits Canada. Bond yields retrace as Central Banks signal end of hiking cycle. Carbon tax divides Canadian provinces as affordability crunch deepens. Home sales weaken in October. Loonie Hour Live in Toronto tickets https://www.eventbrite.com/e/the-loonie-hour-live-in-toronto-tickets-742892650917 Check out industry leading BMO...
10.27.2023
Bank of Canada Says Inflation Will Return to Target in 2025
Bank of Canada holds rates, says global bond yields are doing the tightening. Inflation back to target in 2025. Canadian banks cutting jobs and selling loans. The ECB hits the panic pause. HSBC says the world is at "tipping point"....
10.20.2023
The Bond Bear Market Could Derail the Global Economy - w/ guest Mike Green
Economic growth prospects continue to be revised higher, what are we all missing? Inflation slows in Canada. Business outlook sours. Canada's banking regulator succumbs to political pressures. Try out Canva for Teams! Get an extended 45-day trial here: https://canva.me/looniehour See omnystudio.com/listener for...
10.13.2023
Canada Will Have the Largest Economic Growth in the G7 Next Year?
We discuss the implications of the turmoil in the middle east from a markets perspective. The IMF predicts Canada to have the largest economic growth in the G7 next year. US CPI remains sticky, securing central banks to hold rates. Bond...
10.06.2023
The Canadian Housing Slump is Back On
Recent data out of Vancouver & Toronto points to a marked slowdown in September that looks poised to continue into Q4. Bond yields accelerate higher. Manufacturing data continues to weaken. China Coal usage ramps up. Reserve Bank of Australia moves...
09.29.2023
Canadian Economy Accelerating into Hard Landing
Local governments raising taxes as interest payments rise and tax revenues fall. Bond market contagion deepens as yields surge higher. Canadian mortgage renewals becoming a bigger problem. Business and consumer sentiment tumbles. Household savings are depleted. Try out Canva for Teams!...
09.22.2023
Bond Market Crushing Soft Landing Hopes
Canada CPI comes in hot. Bond yields ripping higher over inflation concerns. Oil continues to push higher which will act as a hard brake on the economy. Powell dismisses the base case for a soft landing. The Bank of England...
09.15.2023
Interest Rates at these Levels Will Break Things- w/ guest Ben Rabidoux
We are joined this week by Canadian credit and housing analyst Ben Rabidoux. Insolvencies are ratcheting higher, the pre-sale market remains the biggest vulnerability. Mortgage rates are starting to break household balance sheets. Immigration is out of control. Canada apartment...
09.08.2023
Has the Recession Already Started in Canada?
The Bank of Canada holds interest rates. Q2 GDP unexpectedly contracts, defying Bank of Canada forecasts. Higher mortgage rates are starting to hit households hard. China & Germany have hit the brakes hard. The ECB could shift to the sidelines....
09.01.2023
Provincial Governments Urge Bank of Canada to Stop Rate Hikes
Canadian banks report rising loan loss provisions. The Federal Government admits to undercounting non-permanent resident growth by a million people. The BC government pleads with the Bank of Canada ahead of the September 06 meeting. The US labour market shows...
08.25.2023
Are There Still Issues Brewing Inside the Banks?
The Federal government is back from their housing retreat with no real changes other than a further review into foreign student loopholes. Regional bank stocks are tumbling once again. Jackson Hole, hawkish fed? Fixed mortgage rates back on the climb...
08.18.2023
Inflation Bounces Higher as Global Bond Yields Hit 15 Year High
Inflation in Canada jumped well above expectations in July, hitting 3.3%. Markets are now expecting no landing, pushing global bond yields to a 15 year high. The Panda in the room is only growing larger as the Chinese property market...
08.11.2023
Prices are Contracting in the World's Second Largest Economy
Consumer and producer prices in China are now outright contracting on an annual basis. US CPI inflation is nearly back on target, but how do you factor in base effects and lagging shelter prices? The largest retailer in Canada delivers...
08.04.2023
Are we in the Early Stages of a Sovereign Debt Crisis? - w/ guest Brent Johnson
Markets are shorting the USD at a record pace and that could backfire very soon. Our special guest Brent Johnson, views the USD as the ultimate flight to safety and thinks that need for safety could return as volatility erupts in global...
07.29.2023
Surging Interest Rates Set to Squeeze Canadian Households Further
Interest rates are rising once again as economic growth remains resilient for now. The Fed and the ECB raise rates once again. The federal government has a new housing minister. Thank you to our sponsors of this live event: BMO ETFs https://www.bmo.com/main/personal/investments/etf/ Canadian Western...
07.21.2023
Canadian Oil, Economic Prosperity, and Navigating the Energy Transition
We are joined this week by Professor David Rapson, an expert on energy markets and climate policy, with a recent focus on electric vehicles and transportation decarbonization. We debunk and discuss energy markets. Later in the show we discuss recent inflation in...
07.14.2023
The Hits Keep Coming, Bank of Canada Delivers Another Rate Hike
The Bank of Canada raised interest rates another 25bps, bringing the overnight rate to its highest point since 2001. US CPI tumbles below expectations. Producer prices keep falling. Used car prices are crashing. China issues could destroy a lot of...
07.07.2023
Financial Watchdog Asks Canadian Banks to Ease Pain on Mortgage Holders
The FCAC has asked Canadian banks to work with borrowers to extend amortizations and reduce prepayment penalties for over leveraged home owners. Real Estate stats in Vancouver & Toronto point to a market that is slowing. The ISM continues to...
06.30.2023
Higher for Longer Interest Rates Will Create a lot of Winners and Losers
Fixed mortgage rates still moving higher. Population growth hits 1.2M in Canada. The Fed and ECB promise further rate hikes. The much talked about recession has not transpired, making the case for higher for longer interest rates. Government debt and...
06.23.2023
Bond Yields Surge Higher as Central Banks Coordinate More Rate Hikes
Central Banks Coordinate higher Rates. Bond yields suddenly ripping higher once again. The Bank of Canada says house prices concern them. Housing set to slow with mortgage stress test nearing 8%. Where is the recession? Liquidity is actually increasing, pushing stocks...
06.16.2023
The Great Canadian Credit Boom Comes to an End
National house prices ticker higher in May. Mortgage credit growth tumbles to a 20 year low, signalling a slowdown is ahead. Housing starts are plummeting. The fed performs a hawkish pause. The ECB raises rates despite recession. China cuts rates...
06.09.2023
The Bank of Canada Shocks The Bond Market- w/ guest Robert Asselin
We are joined by Robert Asselin, former advisor to Justin Trudeau, and budget director to Bill Morneau to discuss ballooning deficits and inflation. The Bank of Canada starts hiking rates again. Bond yields surge, building permits plummet. Universal basic income gets a...

What's The Loonie Hour about?

Download our free app to listen on your phone

The Loonie Hour episodes:

Markets Melt Higher as Economic Data Weakens

The Central Bank Endgame- w/ guest Grant Williams

Currency Crisis in Japan?

How China is Interfering in Canadian Elections, Exposing Corruption w/ guest Sam Cooper.

Federal Budget Predicts Falling Interest Rates, No Recession?

US Inflation Derails the Bond Market

Are financial markets getting complacent?

Immigration Cuts Could Push Canada into Hard Landing- w/ Ben Rabidoux

Central Banks are Going to Cut Rates into Accelerating Inflation

Canadian Living Standards are Falling

Canadian Businesses are Failing at the Highest Rate Since 2006

No Rate Cuts from The Bank of Canada this Year?

Canadian Farmers are Bracing for Tough Times Ahead- w/ guest Shaun Haney

Higher for Longer? You can thank the US Economy

Real Estate Crisis Brings Deflation to China

The Economic Shock Will Come from Outside the US

Nobody is Positioned for a Second Wave of Inflation- w/ guest Tian Yang

Hopes of Rate Cuts from the Bank of Canada are Starting to Fade

Inflation Jumps Higher than Forecasted- w/ guest Jared Dillian

The Perils of The Green Energy Transition- w/ guest Doomberg

Is Canada on the Verge of a Debt Crisis?

Canada Mandates Zero-Emission Vehicles During Cost of Living Crisis

Did Central Banks Just Pivot?

Waiting on the Bank of Canada to Cut Rates

Canadian Banks Bracing For a Weaker Economy

Without Nuclear Canada's Energy Transition is Doomed, w/ guest Dr. Chris Keefer

How to Slow Canada's Food Inflation Problem - with guest The Food Professor

Canada's Biggest Retailers Warn Consumers are Tapped Out

Consumer Confidence in Canada Plummets to Lowest Levels since 1982

Bank of Canada Says Inflation Will Return to Target in 2025

The Bond Bear Market Could Derail the Global Economy - w/ guest Mike Green

Canada Will Have the Largest Economic Growth in the G7 Next Year?

The Canadian Housing Slump is Back On

Canadian Economy Accelerating into Hard Landing

Bond Market Crushing Soft Landing Hopes

Interest Rates at these Levels Will Break Things- w/ guest Ben Rabidoux

Has the Recession Already Started in Canada?

Provincial Governments Urge Bank of Canada to Stop Rate Hikes

Are There Still Issues Brewing Inside the Banks?

Inflation Bounces Higher as Global Bond Yields Hit 15 Year High

Prices are Contracting in the World's Second Largest Economy

Are we in the Early Stages of a Sovereign Debt Crisis? - w/ guest Brent Johnson

Surging Interest Rates Set to Squeeze Canadian Households Further

Canadian Oil, Economic Prosperity, and Navigating the Energy Transition

The Hits Keep Coming, Bank of Canada Delivers Another Rate Hike

Financial Watchdog Asks Canadian Banks to Ease Pain on Mortgage Holders

Higher for Longer Interest Rates Will Create a lot of Winners and Losers

Bond Yields Surge Higher as Central Banks Coordinate More Rate Hikes

The Great Canadian Credit Boom Comes to an End

The Bank of Canada Shocks The Bond Market- w/ guest Robert Asselin