The Loonie Hour

Ben Rabidoux, independent Canadian housing and credit researcher, explains regional divergence in housing and why Southern Ontario has plunged. He covers rental slowdowns from condo completions, a looming mortgage renewal pain, hidden bank exposures from blanket appraisals, and the risk of government bailouts and policy moves to prop up new-build developers.

John Carruthers, a 40+ year pipeline and energy infrastructure executive who led major projects like Northern Gateway and advised on Trans Mountain. He recounts his career highs and the $600M, 10-year Northern Gateway saga. They explore Indigenous consultation, spill-risk mitigation, whether new federal approaches change the calculus, and how geopolitics and population trends shape Canada’s energy future.

Oil surges past $100 and the ripple effects on agriculture, shipping and fertilizer prices take center stage. They explore private credit stress, appraisal headaches in housing and who might buy distressed condos. Geopolitical shipping risks and hidden supply vulnerabilities for items like helium and semiconductors also get attention.

Tom Isaac, a Canadian lawyer focused on Indigenous law and property rights, breaks down a controversial Musqueam rights-recognition agreement. He explains what the agreement says and where it leaves private landowners. Short, clear takes on legal uncertainty, potential effects on Metro Vancouver homeowners, and what accountable reconciliation should look like.

Doomberg, newsletter author and geopolitical/energy analyst, breaks down Persian Gulf conflict risks and implications for defense systems. He discusses oil and gas market shifts, how China’s energy dependence shapes strategy, and why Pacific access and durable approvals matter for Canada’s hydrocarbons. Short, sharp takes on missile attrition, market signals, and global power play.

They unpack Toronto’s plunge in new condo sales and why new construction may stay stalled. They cover strains in private credit and the ripple effects from a SaaS sell-off. Rising electricity demand from data centres and local pushback gets attention. They debate a commodities bull case and why minerals, energy and nuclear matter for Canada’s industrial future.

Trevor Tombe, economist and University of Calgary professor known for fiscal and interprovincial trade work. He discusses Canada's productivity slump and why capital investment matters. Short takes on interprovincial trade barriers and how energy and infrastructure projects boost value. Talks tax reforms like full expensing and the need for faster, predictable permitting to unlock investment.

Tom Isaac, Chair of the Aboriginal Law Group and recognized authority on Indigenous law and major projects. He discusses the legal fallout from BC rulings on Aboriginal title and what coexisting titles mean for private property. Conversations cover homeowner risk, DRIPA and UNDRIP tensions, and whether major resource projects can still proceed under consultation duties.

Markets are rattled as precious metals and crypto plunge and volatility ripples through private credit. AI threatens SaaS pricing and margins, raising worries about valuations and lender exposure. Housing markets in Canada show steep sales drops while EV rebates return. Discussion touches on deflation risks, policy shifts, and where volatility might create investment openings.

Discussion of central bank policy shifts and why rate cuts look unlikely. A dive into Fed balance sheet moves, liquidity and evolving market expectations. Tensions in the Middle East boost gold, commodities and oil price risk. Examination of Canada’s internal trade barriers and how they may be holding back growth and innovation.