Central Banks Commit to Raising Rates into an Energy Crisis
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What is the overall theme of today’s episode?
Canada set to reduce the marginal effective tax rate on new business investment to six point four percent from roughly thirteen percent, and it will technically be the lowest among the G seven and half the rate in the US. The change will take effect right away, and most importantly, though it will remain permanent.
I mean, listen, the reality is this Canada is desperate for private capital expenditure, full stop. And so to me, it's really, really important that we need to entice, whether it's through taxes, whether it's through anything, just basically getting on our knees and begging people to come back and invest.
Smart money will not invest because they're begged. To invest. It has to make sense for them. And this is a step in the right direction. They announced afterwards five hundred billion has been committed in capital. So out of that five hundred billion, Rich, how much of that commitment came from foreign investors?
My guess
is
like twenty-five percent.
Zero. Zero of the five hundred is from foreign investment. It's all domestic. Commitments. So that's when it comes back to is the step in the right direction. But foreign investors, they're not going to commit capital until they have a high degree of confidence that they're going to get paid back. The
dirty secret is that People have the shortest memories when it comes to investment. We just gotta get a key to the
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Richard Diaz in Montreal slash Toronto this week. Thicker, Ice Cap Asset Management Invern Halifax. Which what's going on, Richard? Me, I'm on the road again. I
I promised everybody I wouldn't travel, but I lied. Uh no, I'm I'm in Toronto just visiting a friend and uh and next week I'm going to go speak at a conference with best friend of the show, Rap Mark uh Mark, Ben Rabido. Um, I'm going to Windsor, which I'm really excited about because I've never been to Windsor. And two things are particularly interesting. I've been invited to go to a greenhouse, also part of Canadian industry. It's not just nuclear power and oil. There's apparently a humongous agricultural industry in that part of the world. And so I've been invited to go to a mega, mega, mega greenhouse, which is super cool, obviously. And I was thinking about going to Evil America 'cause I've never been to Detroit.
And I heard Detroit's pretty cool too. There's some cool record stores. I was looking for a football game or a baseball game or a basketball game. None of which are playing when I'm there. So that's it. That's me. They play hockey. They play hockey every now and then too. I'm not going to the Detroit Red Wings.
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Chapters
8 chapters
1
What is the overall theme of today’s episode?
0:00–4:14
2
Why are Canadian home‑sales at a 23‑year low?
4:14–5:40
3
How is the new marginal tax rate on business investment expected to boost capital spending?
5:40–8:08
4
Why are central banks turning more hawkish despite an energy‑driven inflation?
8:08–9:44
5
What portion of the $500 billion investment pledge actually comes from foreign investors?
9:44–12:19
6
What are the odds that the Bank of Canada will raise rates at its next meeting?
12:19–14:49
7
How are soaring oil‑tanker costs and pipeline disruptions feeding the global energy crisis?
14:49–18:10
8
Why aren’t higher policy rates translating into higher Canadian mortgage rates?
18:10–1:15:19