Big miss in Canada GDP. An economy with downward momentum rapidly accelerating. Yes a hard landing in Canada. BOC is late. Why the overnight rate is not significantly below 2% is beyond me. Tiff Macklem is this cycle reincarnation of John Crow.

Canada's Real GDP per capita fell in Q2. This brings us to 3 years of decline from the most recent peak, with the 1990s (Grey Line) experience of futility well within reach.

JOLTS. Construction Quits. Leading indicator. At level not seen GFC.

Entrepreneurs thrive on speed. But SR&ED slows them down. Canada doesn’t lack ambition or talent. We lack a system that actually helps. The fix isn’t more funding. It’s a smarter process.

Houston-based ConocoPhillips says it will reduce workforce by 20-25% #MacroEdge

The employment rate in Ontario is 59.7%. The lowest since 1997.

Canadian Economy Craters as Tariffs Bite: Forced to dump US Treasuries again? The supreme irony of a -95%/GDP NIIP and 6-7%/GDP twin deficits is that your hands are tied to actually fix it, as doing so just causes your creditors to dump your debt YouTube.com/@economicsunma…

This + the Bessent op-ed means it's getting 🌶️ Same journalist who wrote the FHA expose from last Spring Well timed, well placed Last line of the quote re: meaningfully lower mortgage rates: 🔥"Don’t bet your house on it"🔥 Link in the reply

After briefly bouncing back in May, soft-data labor market indicators have fallen back into recessionary territory.

"America’s ‘Buy Now, Pay Later’ Economy" The FHA has waived or reduced monthly payments on nearly 1.2 million mortgages over the past two years—about 15% of its portfolio. Without such forgiveness, delinquencies would be near the levels of the 2008-09 meltdown. Fannie and

Preliminary benchmark revisions suggest downward revisions of -911k jobs from April 2024 thru March 2025. That amounts to about 76k fewer jobs each month … second straight year of revision worse than -800k jobs

Will Quantum Break Encryption by 2028? Watch the video on YouTube: youtu.be/pZZxYN9Pa9Q

The Consumer is Cracking More evidence the recession never ended YouTube.com/@economicsunma…

Build Canada will be one massive grift. A giant transfer of tax dollars to political insiders.

SOFR just hit the highest level of the year (4.51), a full 18bps higher than Fed Funds and higher even than the Discount Window rate Liquidity conditions are getting pretty bad... SOFR= cost of borrowing cash overnight secured by USTs, while the FFR represents the interest rate

BREAKING: Searches for "help with mortgage" surpass 2008 housing crisis.

🇨🇦 Canadians… don’t entertain this Coinbase 🛡️ offering as a chequing alternative. USDC is down 4.3% vs CAD YTD, and going lower. You earn zero real yield and add FX risk. This a total grift concealed as a gift. When FX trends flip, yield will disappear.

Windows will FORCE AI on you (365 Copilot)

It seems like even our MPs don't quite understand TFW vs. IMP. This infographic posted by Ryan Turnbull 🇨🇦🇺🇦 says that 125k fewer new TFWs have come to Canada compared to the same time last year. This is actually the number for new arrivals on all work permit types, not just TFW 🧵