Tough times ahead amid high debt levels.
In a clip of a BNN Bloomberg segment shared on Twitter, Davis Rea Chairman & CEO John O’Connell warned that after living beyond our means, “Canada is going to have to pay its price.”
The clip is worth watching because it’s important for Canadians to hear what lies ahead. The next government is going to face significant challenges dealing with the long-term effects of so much economic mismanagement and low productivity, and the more informed Canadians are about this reality the more people will be willing to support strong and decisive action to right the ship:
“People in Canada keep saying [the BoC] is gonna lower interest rates, that way my house price will go back up and it will all be sunny again – but, it’s gonna be very difficult”
“Countries that live beyond their means, like Canada does…have a tendency eventually to let inflation run by lowering interest rates because they’re pursuing populist policies… inflation creates a weak currency and you have a currency crisis”
“[Canada] is going to have to pay its price”
– John O’Connell, Davis Rea (May 9, 2024)”
“People in Canada keep saying [the BoC] is gonna lower interest rates, that way my house price will go back up and it will all be sunny again – but, it’s gonna be very difficult”
“Countries that live beyond their means, like Canada does…have a tendency eventually to let… pic.twitter.com/ggbz24smio
— red pill rick (@igetredpilled) May 10, 2024
Spencer Fernando
Photo – YouTube
