June 30, 2020
Episode #92 – Dr. Sherry Cooper – The Way Forward
“Everybody needs to keep feeing their minds and their bodies healthfully and… continue to be conscious of what’s going on in the world. Anybody who is afraid of technology is done.” – Dr. Sherry Cooper
- Selected links and people mentioned from this episode:
The New Retirement by Sherry Cooper
- Connect with REIN Canada
- REIN Canada
- Show Notes
- [02:08] Patrick introduces his next guest, Megawatt Celebrity Economist, Sherry Cooper.
- [04:00] Sherry and Patrick get this conversation rolling as Sherry shares her background, where she comes from and how she landed in Canada. One year slipped by into 30!
- [10:20] A trailblazer and an independent thinker, Sherry set the tone for how she intended to show up early on. She doesn’t pull any punches and calls things as she sees them. Fundamentally her views are based on her value system.
- [16:45] Economics and debt load post COVID-19 – Sherry shares her perspective on the “economic comma” and what we may see in the next couple of years.
- [22:29] Always a hot topic around the table, Sherry discusses interest rates and the effects of this global shut down on an already precarious precipice for some businesses and the opportunity for others.
- [26:38] The power of the PIVOT. The shift required in these times illuminates some great opportunities for innovation and growth as well as the reality that even the most successful business could not have planned for a multi-month shutdown. Hard decisions may have to be made.
- [31:05] Sherry talks about the housing market, what effects are likely ahead of us, what has already happened and some of the positive new ways the industry is shifting.
- [36:24] Sherry and Patrick discuss the relationship between the US and China vs. Canada and China and the impact of supply chain disruption.
- [41:09] Insights into lending among the big six banks during this time of uncertainty and Sherry’s view of how things will change among all lenders particularly in the income housing market.
- [45:37] Sherry explains how hyperinflation occurs, and where she sees Canada on that spectrum.
- [48:01] The importance of critical thinking to decide where you want to show up within difficult times.
- [50:41] Sherry imparts her view on currency – gold, the Canadian dollar – and on the regionalization that does occur in the US and could occur in Canada. Economics, politics, and public health & well-being, particularly in the US, are at an impasse fueled by emotion and personal gain.
- [58:40] Back to Canadian soil, what is Sherry’s outlook for emerging graduates and renters vs. homeowners? Sherry also provides some positive stats that get lost in the mix of aggregate data.
- [63:04] City dwelling or wide-open spaces? As the propensity towards densification shifts and more people work from home, Sherry describes what data she’s seeing as well as what’s happening in big cities like Toronto, where she lives.
- [67:26] Setting aside “the way things were” and embracing the opportunity in sectors that reflect our current reality is already revealing itself as golden, all which Sherry is closely watching. This is truly an epic reset in all ways if we welcome it rather than dig in our heels.
- [73:19] The Accidental Economist: Sherry gives us a broader picture of how she moved into the space of economics and the tough grind of graduate school which eventually led to a thriving and robust career.
- [76:17] Sherry tells the story of growing up in a strict household and her unusual rebellion which served her exceedingly well.
- [78:10] Sherry and Patrick share the same philosophy about retirement when you love what you do and get invigorated by working with younger people.
- [79:56] Sherry’s guidance for women who choose to work in a world traditionally dominated by men: there is no room for compromising ethics or integrity and work hard.
- [85:06] The rapid fire captured in long, languid flames: a new occupation in housework has elevated Sherry’s listening time with podcasts and audiobooks – currently she is listening to mysteries. Favourite inspirational quote; alternate occupation (housework aside); message at the pearly gates; weirdness scale; room-desk-car; favourite movie. Sherry’s routine for self-care; personal and professional growth modalities; her fundamental philosophy as a leader and the importance for her of good self-maintenance.
- [96:26] Patrick emphasizes Sherry’s last point of to illustrate how critical it is for women, who typically tend to put others needs before their own and are the centre of their family’s universe, to take that time for self-maintenance and self-care to recharge and reset so they get to be their best selves.
- [98:12] Sherry’s gratitude and the cool story of how she met her husband Peter.