Liberal MP Rachel Bendayan, Conservative MP Stephanie Kusie and NDP MP Peter Julian discuss Canada’s latest inflation numbers and the risk of a recession.
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BREAKING: Recession News
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In recent years, many prominent economists and financial analysts have expressed concern about the possibility of a recession in Canada. While the country has weathered economic storms in the past, there are signs that indicate a downturn could be on the horizon.
One key factor that suggests a recession in Canada is inevitable is the country’s reliance on commodity exports. Canada is a major exporter of oil, gas, and minerals, and these industries play a significant role in the country’s economy. However, global demand for these commodities fluctuates and can be affected by geopolitical tensions and other external factors. A downturn in the commodities market could have a significant impact on the Canadian economy as a whole.
Another factor that could contribute to a recession in Canada is the country’s high level of household debt. Canadians have been taking on more debt in recent years, in part due to rising housing costs. While low interest rates make it easier for Canadians to borrow money, it also means that they will be more vulnerable to an economic downturn. If interest rates rise and Canadians struggle to pay off their debts, this could trigger a recession.
The Canadian government’s response to these challenges will be critical in determining whether a recession is inevitable. While some economists argue that the government should take a more cautious approach to spending and debt reduction, others believe that targeted investments in infrastructure, education, and innovation could help stimulate economic growth and weather any potential storm.
Overall, while the possibility of a recession in Canada cannot be ruled out, it is important to remember that the Canadian economy has proven to be resilient in the past. With proactive and strategic planning, Canada has the potential to continue to grow and thrive even in the face of global economic challenges.
Liberals gouge the working class then give a rebate to the poor. Leave people alone. Stay out of economics. This is the worst government in Canadian history
Trudeau has directly increased the inflation. He raised interest rates and implemented a carbon tax. $0.41 / ltr more on gas
I believe I should watch a video on "How to survive the current recession" given the state of things. Actually, it's a complete failure. The fact that some people could still earn more than $$$k in a short period of time astounded me. If that's still the case, please explain how.
The only purpose of politics is to maintain the Monopoly over the economy concentrated in a few hands at the expense of the majority. The most grotesque example of this was the two-year lockdown which had the convenient effect of allowing the monopolist Walmart's to operate while all the small mom-and-pop shops were forced to go bankrupt. Going as far back as 200 BC political policies what precisely what created every massive economic boom bust cycle since 200 BC, and all had the convenient the fact of transferring economically produced wealth from the majority to the minority. Politicians create massive economic boom bust Cycles because they allow monopolies to operate, when monopolies operate the economy they ultimately create massive economic boom bust Cycles which ends with the transfer of wealth from the majority to the minority and sometimes transitioning the people back to the actual Plantation with more massive globalwide boom-bust Cycles. These monopolies that we have been operating on there and have been subject to going as far back as the Sumerians over 4,000 years ago is precisely what we use to determine the misery index. And this is so despite the fact that the misery index is determined by factoring the unemployment rate and rate of inflation to get the formal misery index ultimately these two components I'm more deeply embedded in the route cause of Monopoly over economy and monetary unit. All of your central banks are privately owned buy a small group of stakeholders, as the private owners on the monetary system, it is ultimately their money that they use to pay for government and to transact on every level of the economy. Therefore they technically control the world. Those are the two main ingredients that you require to be in control of the world, and that it is essentially Monopoly over the economy and the monetary unit,
Can somebody please explain how india will get affected by this situation?
Thanks Trudeau for creating an even higher inflation for Canadians. He brought in higher gas tax… The Carbon Tax. Increase the cost of transportation you increase transportation costs, you cause everything to be more expensive. Double whammy is he allowed huge interest rate increases too. Bring on the next election please
This journalist is awesome.
To me Inflation begins when dollars are printed. Printed monies are a data input to the CPI. The CPI print is the feedback loop from printed dollars. Keynesians have been trying for decades to print dollars to create inflation-used as a signal to show the stimulus is working. Then before inflation gets entrenched, deflate by destroying printed dollars. The problem here is the Fed didn’t remove the dollars it printed to stimulate. So the higher prices are here to stay for a while. The cad strength is transitory. You will see a weak dollar once those bonds the fed has on its balance sheet become difficult to sell as higher yielding assets will be more desirable to venture capitalists.
Who hired the women in the middle? The journalist asked, which countries? And she failed to list any that were benefiting from the strategies she listed and instead repeated herself!!! Whoooooooo hired her. Poor rep if you ask me
between all the politicians in this conversation, the news anchor has my vote
You are right we need more food to feed Canadians but the government make a decision to have more lockdowns now the recession is expected to happen.
But we have to increase the wage because prices increased or inflation is happening in our country especially inflation is so high so we don't live in economic inequality.
India's economy is based of Agriculture. In our rural Tribal areas we farmers for centuries stock up food grains like Rice for 2 years and yearly stock of chilli powder, Tamarind, dry fish
Salt and Cooking oil. Excess Rice is sold. This is done as insurance against drought or flood conditions. Other income source is collection of seeds and edible gum from forests including spices
Lower the income tax, cut carbon tax, lower the HST is better than hand out $500. bucks
Host should be less aggressive, we turn in to hear the experts not the host. She should not have an opinion and just ask questions…..
shes pretty much saying u get what u get and you dont get upset
This is what journalism is supposed to be! boss lady
Inflation literally means too much liquidity in the market and yet this reporter is strongly suggesting to give more free money away! That will temporarily help the poor but it will eventually cause the price hike again. The government was giving away 2,000 dollars every month for so many people during the pandemic and we're now paying the cost of this record high inflation. This is so disgusting to watch.
I love the host ❤
Taxes are very high, Cost of leaving is very high, impossible to buy an apartment or a house, even a 100K CAD a year you'll still poor. Also the Canadian currency is lower comparing to US dollar or to Euro.
A huge loss for the Mother Corp CBC and congratulations to Vassy on her new position with CTV — one of the companies owned by Canada's Weathiest Family, Lord David Thomson, the third Baron of Fleet Street (our $48 Billion Family). Go easy on your former employer, Vassy. This is a coup for CTV and there must be a huge wage increase with your new responsibilites. I never watch CTV — perhaps I'll try it out once the the schedule is finalized.
The concept that keeping more money in Canadians pockets will somehow increase inflation is nonsense and only serves to distract from the real issues in government. The federal government now spends the same amount on dept servicing as it does on healthcare. How can giving the government more tax revenue and wasteful spending make things any better?!
What about reducing or removing the GST at gas pump station
Liberal and ndp just wanna spend and tax.
Don't ever believe anything the JT Liberal government or any government ever tells whether it's about Covid vaccines / boosters , truckers convoy violence , the Canadian economy etc There will be nothing mild about what is coming especially with the Liberal governments increase endless spending . More like a full blown recession or stagflation as all there interest rate hikes and endless spending are not reducing inflation but making it worse .
https://youtu.be/A-G-h2cqa9s
There is a difference between letting people keep more of the money they have earned, and giving people free money.
Canada has the most incompetent reporters in the world. Paid state actors in my opinion!
Who owned a house with mortgage ? Low income,middle class or rich people? Then who would be impacted the rise of mortgage rate? Most of the time which people pay to government tax , EI and cpp?
#trudeaumustgo
Instead of an extra $500 per person for 6 months of GST increase, how about they eliminate all income taxes for 6 months which puts more money in workers pockets and less in the governments.
Freeland won't help Canadian but will shoot cash to most corrupt government in the world Ukraine
Don't trust anyone who cant keep proper eye contact when giving an explanation
Saw a journalist with some good questions after a long time – spoke sense and the discussion was also informative. Good job CBC!