Douglas Hoyes, licensed insolvency trustee and co-founder of Hoyes, Michalos & Associates, joins BNN Bloomberg to provide his forecast for Canadian insolvencies. He notes, a second wave of COVID-19 and taxes due on CERB benefits could result in a gradual uptick in insolvencies. Here is a direct video link.
Plunging rents and rising vacancies are a bad combo for levered owners.
Toronto’s thriving housing market is beginning to show signs of strain, particularly in a condo segment suddenly flooded with new listings.
September data from the Toronto Regional Real Estate Board and research firm Urbanation Inc. show a surge of units for sale–215 per cent higher than a year earlier–according to Urbanation data, the beginning of a weakening trend for condos, along with a sharp decline in rents. Here is a direct video link.
This 20-minute primer from John Hussman was done in 2017 as the Trump tax cuts were promising to boost economic growth and make America great (er).
As Hussman and other math-lovers predicted, the policies were doomed from inception, and have suceeded in increasing government debt to further enrich capital owners at the expense of workers, productivity, innovation and social stability.
Similar trends have been unfolding in Canada over the past two decades. We need to understand why this is self-destructive as a whole and adopt new (old) policies that have reliably worked historically to redistribute resources and reboot opportunity: making companies and capital contribute fairly to taxes enables essential productive investment in education, job training, research and development. Grotesquely enriching a few at the price of everything else is truly dumb.
Economist John P. Hussman on the flawed logic behind the proposed 2017 tax bill, and what policymakers could do to encourage U.S. economic growth. Here is a direct video link.
