6 @SP199306
Joined September 2012-
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The best macro investment you can make is to spend time & understand how our monetary system really works For instance: if Central Banks only print bank reserves, why do they even bother with QE in the first place? My free piece on ''Why QE'': enjoy! 👇 themacrocompass.substack.com/p/portfolio-re…
The Big Six banks are flush with cash – and that's got M&A on Bay Street's mind (via @paulbagnellBNN) bnnbloomberg.ca/1.1531900
In 13 years of writing about mortgages, few rates make me say "wow." This one made me say wow twice: ratespy.com/sub-1-mortgage…
This is an update of my previous explainer on how the Bank of Canada creates money. Updated to be more descriptive of the process while removing content on COVID-specific operations, which has been in flux since the original publication. crusoeeconomics.com/2020/11/22/how…
All the money in the economy is held by someone at all times. So of course when you increase the money supply collectively (which we already know happened) businesses and people increase their deposit balances in aggregate.
Canadians sitting on largest cash hoard ever recorded: CIBC bnnbloomberg.ca/1.1523872
My latest ramblings on the inflationary implications of Canada's COVID response. From QE, to monetary financing, to plain vanilla deficit spending, the long term implications are far from clear. crusoeeconomics.com/2020/11/14/the…
The 5 rules of personal finance: 1. Spend less than you make 2. Get out of debt 3. Build multiple streams of income 4. Invest your money safely 5. Be patient & disciplined Easy to understand. Hard to execute.
Ex-governor Stephen Poloz says the Bank of Canada is near its limits and fiscal policy should be the primary tool for lifting the economy out of the hole created by Covid-19, @shellykhagan reports bloomberg.com/news/articles/… #cdnecon
The BoC has bought ~80% of Government of Canada bond issuance since March. By end-2021, they are estimated to hold 60% of all outstanding GoC securities. So when I say the game has changed, I mean THE GAME HAS CHANGED. This is not the 1990s. This is a new financial/economic world
Printing money inflates the financial assets of the rich, while reducing the purchasing power of the working class. The sooner this stops, the better. theglobeandmail.com/opinion/articl…
May saw the BIGGEST JOBS INCREASE EVER. This jobs report serves as an emphatic reminder about the strength of @realDonaldTrump’s record. He built the greatest economy once, and now he is doing it again! cnbc.com/2020/06/05/job…
US True Money Supply (TMS) for April shows just how large the flood of new money has been. TMS similarly ramped up in the aftermath of the dot-com crash and Great Financial Crisis. What's different is just how quickly and how large the response has been.
Could 5% down payments get harder to come by, or disappear altogether? Many will be wondering that after seeing the CEO of CMHC's testimony today. What he said: ratespy.com/ominous-data-f…
Toronto is hilarious. 🤣 “It’s a pandemic, stock up on toilet paper.” [only generics in stock] “No thanks, we’re not animals.” #NoToGenericToiletPaper #COVID19
Global central bank co-ordinated interest rate cut coming on Wednesday 4 March forexlive.com/centralbank/!/…
"Coronavirus special....these rates won't last long once my investors start coughing" cc @StateOfLinkedIn
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