Many Canadian are already in a ‘personal’ recession, warns financial expert

Personal finance author Douglas Hoyes says that the savings many Canadians built up during COVID-19 lockdowns have mostly been spent.

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33 comments

    1. I agree let’s print more money 💰 while the economy growth is slowed 🐌 down by Trudeau government.

  1. And you can thank the Liberal-NDP federal government under Jagmeet Trudeau for the rampant inflation.

    1. @Hyperpandas ” Biggest issue no-one is talking about” from 2021 on YouTube.
      P.P sounded alarm…nobody listening 🤷‍♂️

    2. @Hyperpandas So what was Trudeau’s reasoning behind the amendments to bill C-30? Why would he amend an agreement with BOC to remove cap on inflation?? Why was it not given more coverage? Seems like an odd time to do this no? Not an expert myself, but that bill gets ratified every five years or so. Why choose the middle of pandemic to make this move? A little fishy if you ask me…

    3. @Sherlock Holmes Because a hard cap isn’t required, but the middle of a pandemic when economic activity is hampered isn’t when you want monetary policy to start slowing the conomy further.

    1. Many Canadians are making other Canadians rich by paying off their home mortgages for them through rent. It’s my fault I can’t afford $3999 a month payment for a 700K mortgage on my own with what most Canadians have for down payment LOL

  2. Hard to imagine with travel bug after lockdown it’s not cutback but lack of availability for airlines creating cancelations. It’s not about money but lack of access

  3. Groceries. Gas. Mortgage. Bills. But I will cry about not being able to afford dining out or travelling.

  4. Do things that are FREE: walk outside. Go running. Go hiking. Ride a bike (if you have one) Go to the park.

  5. His definition of a recession is nonsensical. Sure, by all means point out affordability issues, but redefining recession the way he has is like saying a skateboard is a truck because they can both take you places.

  6. Wasn’t Pandering To The Germaphobes Great! Everyone Got CERB And Now The Country Is Bankrupt 🍻🤣

  7. …it’s interesting how other news had reported record number of travelers…so, folks complaining about not enough money at the end of the month…BUT still have money to travel around? I am very confused w/ mixed reports.

  8. 2017: 😃
    2018😀
    2019🙂
    2020: refinancing buy new car pleasure
    2021:😮
    2022:🤯
    2023🤡 foreclosures broke.

  9. In the last 4 years my rent has gone up over 100 dollars a month, and just recently my landlord hit me with a 300 dollar a month rent hike.

  10. Like me, hydro, cell, gas,sat,car reg,loan, happy i live on the rez dont havta pay rent… lmao

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