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Haven& #39;t offered any insights into the economy lately (ok, ever), so here goes:
1) The live-theatre business is really in trouble. It was tough enough before Covid but a passionate group of talented people had worked diligently and creatively to keep it alive. In fact, some
1) The live-theatre business is really in trouble. It was tough enough before Covid but a passionate group of talented people had worked diligently and creatively to keep it alive. In fact, some
theatres were thriving. Now, of course, no large gatherings. Plus, the average age of most shows& #39; audiences is quite high and many will be rightfully cautious about attending until they feel totally safe. What& #39;s more, decisions about next season& #39;s schedule need to be made soon.
How, though, can that be done with so much uncertainty? Also, production costs are high and fixed. Playing to half-filled houses doesn& #39;t make economic sense. Not fair. When the situation allows, let& #39;s all be as supportive as possible.
2) Covid is really going to affect employment at the middle-management level. How do I know? Because I& #39;m hearing it from C-level executives all the time. With work-from-anywhere and growing use of team software, many are finding that they have too many managers. Change coming.
3) Much talk of the US dollar not maintaining its reserve-currency status. I& #39;m skeptical it will be replaced anytime soon. By what? The Juan? Not a deep enough bond market or properly structured credit-system infrastructure. The Euro? No way with many experts& #39; doubts around
its survival. The USD may continue to weaken but, I believe, it will remain the world& #39;s reserve currency for years to come.
4) Real estate has replaced hockey as Canada& #39;s national pastime. Hardware stores are the new arenas. HGTV is the new TSN. I& #39;m kidding. But not kidding. Crazy times out there. The reno and cottage markets have gone ballistic. During a pandemic!
5) Many seniors are opting not to sell their homes at the predicted age. Why? Well, sometimes they like having enough room for grandkids to visit. Many don& #39;t want to move to a retirement or nursing home and are opting to get in-home help instead. Others are seeing constantly
rising prices and want to continue to ride the wave. All of this is limiting supply somewhat and playing a bit of a role in the rising-price environment.
6) Demand is being lifted by parents pushing kids to "get in before it& #39;s too late!" The parents argue, "If a plague can& #39;t slow Canadian residential real estate, nothing can!" They then help with down payments and co-signing needs. Best advice ever? Choose your parents wisely.
7) Gardening is really growing as a hobby. I think it& #39;s going to get bigger and bigger. People enjoy it and feel a sense of accomplishment. It seems to relax its practitioners. Will be some good business opportunities in this space.
8) I& #39;m REALLY worried about the lending market for small businesses. Capital has dried up for even super-solid companies on both sides of the border. The Canadian government needs to look at this right away. The BDC has some great people and can help develop/administer programs.
