Michael Campbell’s MoneyTalks – Complete Show
Despite rising risk Canadian governments pretended it was “business as usual” – it’s not. We will regret giving away tens of billions in government revenue while kissing much more in capital investment goodbye. Lance Roberts is brilliant talking about what’s next for stocks and bonds as fears over COVID19 grow. While Victor Adair talks about how to make money when interest rates inevitably go up.
They were wrong – the excessive deficit spending in good times robs us of the financial ammunition we need to offset the negative economic impact of the novel corona virus, which leaves us with one bullet – lower interest rates. And that won’t be near enough.
Somebody should tell the BoC to stop worrying about the economic impact of COVID19. After all, when Teck walked away from Frontier and 7,000 jobs and tens of billions in gov revenue Canadians shrugged it off. We’re so rich we can add $25 billion to federal debt in good times.
“Don’t panic” is the prudent advice when investment markets drop dramatically but somehow when it comes to issues like climate change we’re surrounded by people telling us to do the opposite – after all, it’s an “emergency.”
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Mike’s Editorial – March 7th
Posted by Michael Campbell
on Saturday, 7 March 2020 11:08
Many cheered when billions in capital investment and potential government revenue left Canada. How does that look now in the face of the potential financial fallout of the novel corona virus because it won’t be the last financial shock.