Canada is already in the middle of a recession: Purpose Investments CEO

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5 ай бұрын

Som Seif, founder and CEO of Purpose Investments, joins BNN Bloomberg to talk about navigating economic uncertainty in the markets.
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Пікірлер: 84

@Clorisluta

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the Canadian dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

@DorathyJoy

Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.

@unclesteveE

Som is a smart dude. We were friendly in University too, and he's a good dude too. Glad he ended up as an expert - he deserves all the recognition he gets.

@ad03dh

In the 90s Gas was also 0.46 cents a liter back then and a loaf of bread .50 cents. All including trip to Mexico was $600 for a week.

@MustyBastard

My utilities were $1000 last month on a 2100 sqft house.. We had a cold Jan here in Berty.

@danielmcarthur9004

It's not normal to have the average house prices 14x the average salary and have high interest. When interest rates where 10x+ houses cost 3-4x a yearly salary.

@kevinc6183

Lets raise rates another 100 basis points and see what happens!

@DanielThomas-kb8wl

Great video, thanks for sharing it!

@F_e_l

It's okay, household budget will balance itself...........oh wait.

@OnyedikachiKing-bk6od

Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.

@GaryABArmstrong

Yes we are in the middle of a recession but we have to keep interest rates high as inflation is too high for Canadians of limited and modest means.

@carpetbaggerface

wonderful rrsps! mine went down in nominal value 5% in five years.

@jitheshl7037

Net Flow of Funds into Purpose tells a different story. Half of Canadians are struggling while the other half makes excess money.

@l.a.s.luckyaxiescholarship6424

just change the definition again... that always works

@Spp235.

The right measure is growth in GDP PER CAPITA. By that measure, we have been in a recession for years as our living standards get undermined by low productivity, high taxes, punitive and costly government regulation, excessive government spending on borrowed funds and a very poorly led Bank of Canada. Governments are focused on Debt/GDP and simple increase in GDP - because it allows them to borrow and spend more and run more government deficits. Need to focus on PER CAPITA measures as that is what is really important to the citizen.

@jtome84-91

What is a sick market ?

@carpetcleaning999

Yes, most likely, we are in a recession. I am a small business owner, and we are not stable for the last 12 months. Some weeks, we are busy, but some weeks, we are so slow. How long will this go for? I don't know. Hope things get back to normal again.

@zahrad1026

People are spending because they have to. They still need to eat and put gas on their car to get to work any pay the utility. I'm not sure how many can spend on luxury items but for most people, it is just essential.