David Rosenberg - Imminent Economic Crisis in the US and Canada

Рет қаралды 51,937

Күн бұрын

Join James Connor as he sits down with renowned economist David Rosenberg of Rosenberg Research to discuss the dark clouds looming over the US and Canadian economies.
Despite recent highs in the S&P and Nasdaq, Rosenberg warns of imminent economic downturns that could have devastating effects. From rising delinquency rates in consumer credit to the bursting of the Canadian housing bubble, tune in to discover a what lies ahead for our economy and your portfolio.
TIMESTAMPS:
00:00 - Introduction
01:00 - David Rosenberg's View on US Economy
04:00 - GDP Growth and Consumer Behavior
08:45 - Impact of Government Spending
12:04 - Housing Market Analysis
14:39 - Federal Reserve Policies
16:56 - Potential US Recession
18:52 - Canadian Economy Deep Dive
28:22 - Canadian Housing Bubble
30:02 - Canadian Politics and Economy
33:07 - Stimulating the Economy
36:12 - Investment Strategies for the Future
41:22 - Closing
#economy #investing #podcast #recession #wealthbuilding #federalreserve #housingmarket #gdp
---------------------
At Wealthion, we show you how to protect and build your wealth by learning from the world’s top experts on finance and money. Each week we add new videos that provide you with access to the foremost specialists in investing, economics, the stock market, real estate and personal finance.
We offer exceptional interviews and explainer videos that dive deep into the trends driving today's markets, the economy, and your own net worth. We give you strategies for financial security, practical answers to questions like “how to grow my investments?”, and effective solutions for wealth building tailored to 'regular' investors just like you.
There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead?
Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis.
Put the wisdom from the money & markets experts we feature on Wealthion into action by scheduling a free consultation with Wealthion’s endorsed financial advisors, who will work with you to determine the right next steps for you to take in building your wealth.
SCHEDULE YOUR FREE WEALTH CONSULTATION with Wealthion's endorsed financial advisors here: www.wealthion.com/
Subscribe to our KZfaq channel / @wealthion
Follow us on Twitter / wealthion
Follow us on Facebook / wealthion-109680281218040
____________________________________
IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.
While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as official investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor.
We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.
The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.

Пікірлер: 165

@kellikline6359 Ай бұрын

Intelligent people in the US know we are on a nose dive.

@ParisianThinker Ай бұрын

Merci for your hosting your wonderful guest, David Rosenberg. He is the best informed economist about Canada and USA too.

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for your comment and for taking the time to view our content! I agree, he is one of the best!

@davidfellowes1628 Ай бұрын

Not just Canada, most economies

@jasonhenn7345 Ай бұрын

Yep the wef plan right on track needs global bankruptcy to bring in cbdc etc,, Brics to end usd dominance and bring hyperinflation that will spill over here next yr

@Leceister4231 23 күн бұрын

But also canada. As he said canada is in a much worse place than most countries. But people on canada don't want to admit this.

@jasonhenn7345 23 күн бұрын

@@Leceister4231 it's the wef agenda 21,30,50 plan right on track, stinks, time to freshen the air, learn about it, then do b something like educate others soon, very soon or it will not be reversible

@ryu_street_fighter561 23 күн бұрын

Canada is socialist and failing and most Canadians refuse to believe anything bad about Canada.

@amitshah911 20 күн бұрын

@@Leceister4231agreed

@user-jt7qo8do9g 21 күн бұрын

Canada immediately needs to start getting its resource industry built. We will faulter economically if we don’t!

@neolithictransitrevolution427 21 күн бұрын

If you mean mineral mining, yes. If you mean oil expansion, I think it will kill us economically.

@ragingchimera8021 19 күн бұрын

@@user-jt7qo8do9g we are too late, not enough skilled people anymore.

@johnh5896 23 күн бұрын

David is a great example of how intelligent sometimes people that don’t scream and talk trash can be.❤

@BloorStreetCapital 22 күн бұрын

It's Jimmy Connor, thanks for the comment John and for taking the time to view our content! David is a great speaker.

@frankarena838 Ай бұрын

I'm an engineer and my eyes light up when you talk about excess supply. Love Rosie!! He's the best. G'day from sunny Sydney Australia. Thanks James and David. Very interesting.

@frankbeneditto2648 23 күн бұрын

Great interview and great insights on Canada, doesn't look 'Rosie'

@good2goskee Ай бұрын

The debt in Canada is primarily about the mortgage debt

@cliftonboyz1959 23 күн бұрын

Canada is in the crapper..look at make up of job growth🎉 and there is stubborn adherence to monetary inflation fighting techniques. Trudeau’s father fucked up the economy and guess what, his sons antics are exactly the same. Canucks are way too forgiving and kind.

@jimmynolet3752 23 күн бұрын

A lot of federal institutions are broke at the moment and have a hiring freeze going on they are barely able to operate

@good2goskee 23 күн бұрын

@@cliftonboyz1959 agreed

@petewick8627 21 күн бұрын

You’re in fantasy land

@good2goskee 21 күн бұрын

@@petewick8627 do explain...

@ragingchimera8021 23 күн бұрын

Our entire ability to maintain our industrial capacity is running on borrowed time... think about that.

@BloorStreetCapital 22 күн бұрын

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! It's just a matter of time!

@annieh3732 Ай бұрын

Love the interview. Thank you.

@michaelbrown5311 24 күн бұрын

Thanks Jimmy, Rosie is always a great guest!

@terryroberts623 Ай бұрын

Rosenberg is excellent!!

@gordpearson9802 Ай бұрын

Good interview, thanks James/David

@marksnead9805 Ай бұрын

Can't believe he said 'Japan is a long term play'.

@willbennett7043 Ай бұрын

How can you say that debt to income in canada is 170% and then 3 mins later say most canadains are debt free and don't have a mortgage?

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for the comment Will! I should have picked up on that and questioned him on it.

@bruceposch1449 Ай бұрын

because half of canadians have a 340% debt to income ratio.

@zomgoose Ай бұрын

The debt-to-income ratio in Canada is actually 180%. Rosenberg was low on the number. It has been exorbitantly high and increasing for a long time. It easy to find that information.

@alexlaw13 23 күн бұрын

Most Canadians don't have a mtg. The ones that do 1) are much higher than 180% 2) under report income and thus back to 1)

@stephenburnage7687 21 күн бұрын

Renters are mortgage free

@gregfraser2763 Ай бұрын

Banks should only mortgage 6X median income for the area in which the house is. This prevents the bubble and fomo. The banks provided the rope for the buyers. Above 6X median income then you pay cash. Maybe also a price per sqft range so consumers are not forced to pay riduculous price per square foot to buy 400 sq ft shoebox condo.

@stephenburnage7687 21 күн бұрын

The 6X multiple only developed in the era of low interest rates. It used to be 2.5X, not that long ago.

@gregfraser8784 21 күн бұрын

@@stephenburnage7687look at long term price to median income chart.

@LCculater 21 күн бұрын

I knew this 8 years ago 😂

@joellynparks7805 Ай бұрын

Time well spent listening

@johnmorelli3775 Ай бұрын

Lets hope Trudeau resigns - his economic policies have been detrimental to Canada's economy.

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for the comment John and for taking the time to view our content! Change is coming!

@nickzivs Ай бұрын

Wages haven’t kept up with debasement/loose monetary policy that widens the wealth gap by choosing those with assets as winners and those without as losers. That is why most people are struggling, they don’t have enough real wage growth or financial assets to keep up especially the young generations.

@johnmorelli3775 4 сағат бұрын

....and Liberal progressives are defeated in the next election. Trudeau's cabinet has been as detrimental as Turdeau himself.

@davidchurch9005 24 күн бұрын

Bingo! That’s what Canadian Government needs to do! I vote for you David for PM!

@nickzivs Ай бұрын

Just cut corporate taxes so they can issue more dividends and/or buy back more stock … and at the same time do more consumer-targeted stimulus by the government. The catalyst is all tools in the toolbox that amount to a weaker dollar 🥲.

@jasonhenn7345 Ай бұрын

Black rock and allies to buy up everything 4 pennies on the dollar

@1000percent Ай бұрын

Canada su ks

@OM-nq9dd Ай бұрын

The US economy is only going forward with debt, it is not sustainable

@magdacska Ай бұрын

It’s the Biden syndrome in Canada.

@jasonhenn7345 Ай бұрын

Actually the wef plan most western countries have been selling out to

@vincentmurphy9252 27 күн бұрын

You do a better Job then last guy who’s at thoughtful - he was really good so just wanted to throw that out to ya

@The2000Bobby 23 күн бұрын

Great interview. I am a bit perplexed on one thing - Capitalists are Capitalists only when they don't mess up. And when they do, socialism kicks in - all those massive bailouts funded by tax payers (and even with that bailout money, senior management of those companies get tens of millions of dollars as salaries and bonuses). How can you square the circle - cut taxes and also government spending. The income gap with is already at record high will increase further and that would be a social disaster.

@behonestwithyourself3718 22 күн бұрын

I believe in capitalism but i agree with your statement. You have to let them fail. Government bailouts are not fair to the tax payer. Its a inflation tax and wealth transfer tax really.

@glennbeard7219 23 күн бұрын

“ Nothing is more permanent than a temporary government program “ Milton Friedman. As an unabashed free market capitalist you realize that any government intervention in the economy produces negative results including historical depression

@BloorStreetCapital 22 күн бұрын

It's Jimmy Connor, thanks for the comment Glenn and for taking the time to view our content! Great quote from Milton Friedman!

@jaykraft9523 Ай бұрын

Rosenberg 5 years ago: "We'll have a recession next year" (no recession). 4 years ago: "recession has already started" (no recession) 2 years ago: "the risk is recession" (no recession) 1 year ago: "recession is slamming demand" (no recession) 9 months ago: "recession coming in 6 months" (no recession). Trend here ?

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for your comment Jay! It's tough being a forecaster.

@Tinitiny2023 18 күн бұрын

“The majority of Canadians don’t have a mortgage, most of the Canadians are debt free”….and are strapped for spending. Another way to express this is categorizing it into the percentage of people renting without a house and the percentage own a house without a mortgage.

@BloorStreetCapital 15 күн бұрын

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! You raise an interesting point, when he says that it sounds like Canadians are doing very well but in reality they are not.

@ngmookleong3415 10 күн бұрын

no problem as long as Canadian call their America their friend, comrade and allies

@BloorStreetCapital 7 күн бұрын

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Dam rights we friends/allies!

@PaddyAU Ай бұрын

Australia also

@BloorStreetCapital 29 күн бұрын

It's Jimmy Connor, thanks for the comment Joseph and for taking the time to view our content. How bad are things in Australia? Maybe I should interview someone who knows that economy.

@GillerHeston 27 күн бұрын

The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

@jcurdrayeric243 27 күн бұрын

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

@rogerwheelers4322 27 күн бұрын

The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.

@joshbarney114 27 күн бұрын

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

@FabioOdelega876 27 күн бұрын

@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

@joshbarney114 27 күн бұрын

Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@dougcomrie1893 24 күн бұрын

82 comments from 30 000 views after 9 days…..right

@adrianvisentin534 22 күн бұрын

Such a common sense guy. It's obvious. Why is this federal government so traitorious???

@ithomson2672 Ай бұрын

i would like to see what his thoughts are on the rapid increase in US debt purchases by Canada from 2018 to 2024. Low interest rates near zero from 2018-2023, when Powell jacked up rates. Big unrealized capital losses?

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for the comment/question! I will bring this up during our next discussion.

@porkyfedwell 29 күн бұрын

People think recession is a relic of yesteryear because the FRB rushes to ZIRP whenever they possibly can.

@99gadget99 26 күн бұрын

Depends which lens and industries you look at. Travel, luxury, high end hotels, experiential spending is healthy and growing. The top half / wealthy are swimming in cash and driving these kinds of industries to record highs. Wealthy Americans are literally rewriting and rejuvenating European economies through record and increasing tourism. The bottom half, things are not so good.

@davidbarlow372 21 күн бұрын

we will see but..i do not think so...

@gl9139 14 күн бұрын

Insightful thoughts. Is Rosenberg insisting on a trickle down policy? If top tier tax should be cut then write offs should also be cut. Let’s make it even steven.

@shanesteele778 Ай бұрын

Canada has lots of troubles but high immigration means high demands so i dont think there's a over supply issue. High population is skewing the models. keep up the good work David

@oliveoil7642 22 күн бұрын

High immigration means high demands? They may have plenty of demands but the funds will have to be printed to meet them causing even more inflation. They have thus far been provided free food, clothing, allowances, shelter….. How do you think this will all be paid for🤔?

@JamiesNewton 20 күн бұрын

Lol high demand for Honda civics if that’s what you mean. The immigrants coming in aren’t buying anything. They walk around in pants that don’t even fit them.

@petert1692 23 күн бұрын

So the well healed who have made things worse, are the first to complain? Wow, just wow!

@gregmccain343 24 күн бұрын

Jimmy da man!!!

@bobbydee2592 29 күн бұрын

Only FACT is the Sun going to explode in 5 billion years. Other than that everything else is just speculation. Let's now go watch the Stanley Cup Final again.

@BloorStreetCapital 22 күн бұрын

It's Jimmy Connor, thanks for the comment Bobby and for taking the time to view our content! Best SCF in years!

@pyorba Ай бұрын

Yeah, but David, doesn’t the world explode if we have deflation in an economy leveraged like this?

@GF-po4lb Ай бұрын

I am excited for the bear market. I have been hearing about it for a decade so I am sure it will be very impressive

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for the comment! I know, it's crazy! The market just keeps going higher everyday.

@bbeamish08 21 күн бұрын

stock market is ultimate leading indicator, yes US stocks are overbought and due for a correction but the market hasn't 'topped' if it is making new ATHs. Frankly, I'd be far more worried about Canada then the US atm. 22m...nailed it

@BloorStreetCapital 20 күн бұрын

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! I agree 100%

@PeterParker-wj3cr 24 күн бұрын

The economy and stock market are two different things. I think because the stock market hasn't crashed and continues to make new ATH's. That is causing many to view a strong economy. But once you look under the hood. You will start to see some issues.

@BloorStreetCapital 22 күн бұрын

It's Jimmy Connor, thanks for the comment Peter and for taking the time to view our content! I agree 100%.

@ryancouture2508 22 күн бұрын

Wealth inequality has ruined everything.

@sonyjoseph5426 Ай бұрын

Rosenberg been calling economic colapse since the pandemic

@BloorStreetCapital 29 күн бұрын

It's Jimmy Connor, thanks for the comment Joseph and for taking the time to view our content. It's tough being a forecaster.

@Mark-ez2vw Ай бұрын

Digital silver in a digital age, litecoin is a digital precious metal, not a security. Litecoin is the oldest coin on the market after bitcoin, since its inception in 2011. Scarcity of litecoin is the key feature of its technology. Everyone tends to flock to digital silver and digital gold, litecoin and bitcoin, when things aren't going well. Litecoin is a decentralized digital commodity, just like bitcoin, but not even close so heavily concentrated in a few hands like bitcoin is. Both have Proof-of-Work consensus, and both have limited supply of coins. Only that litecoin is lighter, swifter, and hugely undervalued against bitcoin. Litecoin (LTC) being a digital commodity provides a decent inflation hedge as well because there will be mined only a limited number of 84 million litecoins in total.

@nayumicraig5248 26 күн бұрын

You do you. I'm buying barbered wire and canned goods. Lorne.

@a88888888a Ай бұрын

Canada has no chance in the new world...

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Canada is not perfect by any means but it is still one of the best countries in the world.

@Rawdiswar Ай бұрын

@@BloorStreetCapitalBest at what? Housing bubbles? Failing healthcare? Outdated and inadequate infrastructure?

@porkyfedwell 29 күн бұрын

@@Rawdiswar At persecuting people who speak out against woke-ism.

@stephenburnage7687 21 күн бұрын

Canada has raw materials (oil, gold, minerals). That's more than Europe has.

@kristinashepherd3003 20 күн бұрын

@@stephenburnage7687owned by other multinational companies who really don’t give back much of anything

@jamesruscheinski8602 23 күн бұрын

Çhrist empire for Americas Australia Europe and associated areas

@cliftonboyz1959 22 күн бұрын

Fairness smearness

@peterbutz642 18 күн бұрын

You better believe Canada in trouble when ninety percent of all private sector investment and jobs is created in only one province Alberta it’s not sustainable

@capnvideocapnvideo2216 3 күн бұрын

Canada's always struggling along what else is new.

@Rick1234567S 20 күн бұрын

All we need is a train from Canada across the north pole to Russia and we can join BRICS and the new trading block and finally become wealthy. lol Unfortunately that doesn't seem to be something anyone would fund. So we have to make it alone. And that means organic economic theory, and a library form of government in a completely socialist Internet world. There is no avoiding the reality we live in.

@BloorStreetCapital 20 күн бұрын

It's Jimmy Connor, thanks for the comment Rick and for taking the time to view our content! You raise a good point we live in one of the best countries in the world, rich in resources we should be in much better conditions economically than we are currently in.

@davidmcnamara8024 Ай бұрын

I stopped watching at 20 minutes. When did they start talking about buying gold? Predictable diatribe.

@BloorStreetCapital Ай бұрын

It's Jimmy Connor, thanks for your comment David and for taking the time to view our content! David mentioned gold because he believes the USD will drop with falling IR. He also suggested TLT.

@davidmcnamara8024 Ай бұрын

@@BloorStreetCapital please stop. You sound as bad as Trump. Your analysis cherry picks facts to support your theory. This is basic confirmation bias. I wouldn't put much faith in your assessment. Gerry Granthim wanna be.

@fmg4537 13 күн бұрын

@@BloorStreetCapital what is IR and TLT?

@buckmaster7185 Ай бұрын

This guy has cost me lots of money for being WRONG for over 2 years.

@lambertgervaisvachon295 27 күн бұрын

Me too buck, me too

@MmeuMar 26 күн бұрын

Stopped listening to him a long time back..... but others are worse.

@antonburren336 29 күн бұрын

Most Canadians don't have a mortgage? Where's he getting that info from? Is he including children to arrive at "most"?

@RobbStonee 18 күн бұрын

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.

@ScottStraw 18 күн бұрын

Keeping savings in cash may feel safe, but it might not be ideal for long-term growth, especially for retirement. Consider seeking advice from a financial advisor to create a diversified investment strategy that aligns with your retirement goals.

@OsborneLatin 18 күн бұрын

Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.

@Tnks4cmin 18 күн бұрын

This caught my interest. I worry that I have a couple more months before retirement, and I want to switch to using a financial advisor, but I don’t really know how to find one.

@OsborneLatin 18 күн бұрын

*Sharon Lynne Hart* is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

@BevanBraselton 18 күн бұрын

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

@easterntechartists 15 күн бұрын

Open an fhsa account..by the time you max it out in 5 years , home prices will be 50% lower in this Socialist republic. Transfer of wealth from old to young !