Uploaded September 2026 | Updated September 2026, 4 days ago
On this episode of The Buck Stops Here, host Catherine Murray is joined by James Thorne, Chief Market Strategist at Wellington-Altus, for a contrarian read on where markets, central banks and the Canadian economy are headed. Thorne argues the street is wrong about a September rate hike, likens the incoming Fed approach to Alan Greenspan's supply-side pivot, and explains why letting the economy run hot could mean we're in the middle stages of a secular bull market. He also delivers a blunt assessment of Canada's growth problem, warns that "nostalgia is not a strategy," and lays out where he'd put money now from U.S. regional banks and AI exposure to Bitcoin, Ethereum, gold and copper.
TIMESTAMPS
0:00 Intro
1:54 Why the Fed and Bank of Canada hold
2:57 No September hike? Weak ADP, declining full-time jobs
3:51 Growing out of a 130% debt-to-GDP problem
4:55 You do not hike rates into an energy shock
5:31 Canada's GDP beat and why it doesn't change the story
6:34 Becoming socialist? A frank word for the PM
8:01 Structural adjustment, trade leverage and the banks
9:40 Food inflation, food bank use and Canada's OECD outlook
10:22 An honorary member of the Third World
11:04 Asset allocation: why the U.S. over Canada
12:34 Pipelines, ports and the cost of not building
13:49 Gold, energy and a bumpy few years for Canada
14:31 Sectors to overweight: regional banks, housing, retail
15:34 A culling of the herd in AI names
16:10 The Genius Act and the case for crypto
18:31 Tokenization and the biggest shift since double-entry
20:16 Ethereum was invented in Canada and we're not building it
21:32 Two commodities to own: copper and gold
GUESTS
• James Thorne: Chief Marketing Strategist - Wellington-Altus Private Wealth
The Buck Stops Here
Host: Catherine Murray
FOLLOW US
• Subscribe: youtube.com/@TheNewsForum
• Twitter/X: https://x.com/thenewsforum_
• LinkedIn: linkedin.com/company/the-news-forum
TAGS
#TheBuckStopsHere #JamesThorne #CatherineMurray #FederalReserve #KevinWarsh #InterestRates #BankOfCanada #TiffMacklem #CanadianEconomy #Markets #Investing #AssetAllocation #SecularBullMarket #SupplySideEconomics #Inflation #Gold #Copper #Commodities #Bitcoin #Ethereum #Crypto #Blockchain #Stablecoins #Tokenization #GeniusAct #AIStocks #SP500 #WallStreet #Economy #FinanceNews
On this episode of The Buck Stops Here, host Catherine Murray is joined by James Thorne, Chief Market Strategist at Wellington-Altus, for a contrarian read on where markets, central banks and the Canadian economy are headed. Thorne argues the street is wrong about a September rate hike, likens the incoming Fed approach to Alan Greenspan's supply-side pivot, and explains why letting the economy run hot could mean we're in the middle stages of a secular bull market. He also delivers a blunt assessment of Canada's growth problem, warns that "nostalgia is not a strategy," and lays out where he'd put money now from U.S. regional banks and AI exposure to Bitcoin, Ethereum, gold and copper.
TIMESTAMPS
0:00 Intro
1:54 Why the Fed and Bank of Canada hold
2:57 No September hike? Weak ADP, declining full-time jobs
3:51 Growing out of a 130% debt-to-GDP problem
4:55 You do not hike rates into an energy shock
5:31 Canada's GDP beat and why it doesn't change the story
6:34 Becoming socialist? A frank word for the PM
8:01 Structural adjustment, trade leverage and the banks
9:40 Food inflation, food bank use and Canada's OECD outlook
10:22 An honorary member of the Third World
11:04 Asset allocation: why the U.S. over Canada
12:34 Pipelines, ports and the cost of not building
13:49 Gold, energy and a bumpy few years for Canada
14:31 Sectors to overweight: regional banks, housing, retail
15:34 A culling of the herd in AI names
16:10 The Genius Act and the case for crypto
18:31 Tokenization and the biggest shift since double-entry
20:16 Ethereum was invented in Canada and we're not building it
21:32 Two commodities to own: copper and gold
GUESTS
• James Thorne: Chief Marketing Strategist - Wellington-Altus Private Wealth
The Buck Stops Here
Host: Catherine Murray
FOLLOW US
• Subscribe: youtube.com/@TheNewsForum
• Twitter/X: https://x.com/thenewsforum_
• LinkedIn: linkedin.com/company/the-news-forum
TAGS
#TheBuckStopsHere #JamesThorne #CatherineMurray #FederalReserve #KevinWarsh #InterestRates #BankOfCanada #TiffMacklem #CanadianEconomy #Markets #Investing #AssetAllocation #SecularBullMarket #SupplySideEconomics #Inflation #Gold #Copper #Commodities #Bitcoin #Ethereum #Crypto #Blockchain #Stablecoins #Tokenization #GeniusAct #AIStocks #SP500 #WallStreet #Economy #FinanceNews
