This is an automated archive made by the Lemmit Bot.

The original was posted on /r/gmecanada by /u/Resologist on 2023-10-25 03:36:41.

Just a reminder.

GameStop would probably not suffer if the Bank of Canada raises its interest rates, tomorrow, since its debts are minimal, (and, it has considerable cash assets).

Canadians will suffer, if the rates are hiked, again. The provincial premiers are complaining about inflation due to hikes in mortgage rates, (tho they are probably more concerned about provincial debt loads); and, Bay Street’s economists are pretending that another rate hike isn’t going to happen, this month, as the economy has only grown a fraction of a percentage lately, (not a “recession” yet).

Governor Macklem doesn’t really care about working Canadians. He thinks Canada should have a higher unemployment rate, and Canadian corporations are trying to fix that by laying off workers. With the Consumer Price Index inflation rate at 3.8%, and with a target of 2%, Macklem might use the high household debt as an excuse to squeeze a bit more to stop any retail spending, (which isn’t what’s driving the current inflation rates). Canada’s rates need to be boosted to remain competitive with the rates in the United Kingdom, Europe, and the United States. So, I say, expect the worse.

The “Dumb Money” Apes should pay down their household debts, (credit cards, car loans, and other loans), pay down their mortgage (if they have one or two), pay your rent, pay your bills, and keep some money in savings for any emergency expenditure(s). What’s left over, (that can be put at risk, or lost): BUY, HODL, & DRS GME. It’s been at bargain prices, recently.