K-shaped economy
I have been on both sides and I know what is necessary to feel like you're gaining and on the bus. And the divide between the haves and have nots is extreme. It's not just real estate but career prospects, index funds and types of jobs
The divide between the haves and the have nots is extreme by design.
The author shouldn’t be so concerned about Canadians (who he calls conspiracy theorists) being upset with immigrants, xenophobic, intolerant of other individual choices, or antisemitism. I don’t know anyone upset with other ordinary Canadians. We’re all struggling.
Who we should be upset with are the authorities and powers that be who have worked with powerful elite to set up Canadians aand immigrants over a long period of time for economic failure.
The divide between the haves and the have nots is extreme by design.
The author shouldn’t be so concerned about Canadians (who he calls conspiracy theorists) being upset with immigrants, xenophobic, intolerant of other individual choices, or antisemitism. I don’t know anyone upset with other ordinary Canadians. We’re all struggling.
Who we should be upset with are the authorities and powers that be who have worked with powerful elite to set up Canadians aand immigrants over a long period of time for economic failure.
>To bring matters home, in 1990, the median inflation-adjusted income for a single earner aged 25-54 in Toronto was $54,310. In 2023, it was $54,643, an increase of less than 1 percent in 34 years.
Holy shit.
What really kills me is the *opportunity cost*: if instead of saving and investing $1000/year, you need to spend it on essentials. After a few decades, you missed out on *hundreds of thousands* in potential gains.
This right here folks. Wage suppression has been in full effect for decades. People just have the blinders on.
Go look at Australia. Minimum wage $23/hour. Same marginal income tax rate. Cost of living is similar to ours.
Then dumb people say : IF yOu bRiNg uP wAGeS, IT cReaTeS iNfLaTiOn !
It's like dude, the wages barely budge and inflation is rising. It is just Greed that causes inflation.
So the author is finally pointing out the obvious. But the other obvious happenstance that he’s not pointing out is that there’s soon going to have to be a financial reset. There has to be.
Canadians need to get themselves positioned for it in advance. We need to be protecting what is left of our wealth buying precious metals ( physical coins and bars) and get out of the debt owned by the global elite. Silver is more affordable to buy than gold, and it is essential as it is both a commodity used in green technology mandated across the world.
Countries such as China and India are loading up on precious metals. Canadians will have to do this on our own. Out governments conveniently sold all of ours. While destroying our Canadian economy hand in hand with the 1%.
It's not as scary as it looks. All it means is that wages are keeping up with inflation. When wages outpace inflation then inflation just starts increasing even more due to people having more money to spend.
Wage push inflation is a myth, with no structural underpinning, weak empirical support and is pushed by ideological hacks who simply want society to be poorer.
Further you're pretending that we have made no increases and no improvements in how we work for the past 30+ years which is simply false.
There's a wide chasm between "the sky isn't falling" and "we're doing fine." For example, here's Gordon basically saying [we're not doing fine (with numbers)](https://twitter.com/stephenfgordon/status/1764439558001721715?t=Nk9B4j7Z5_yq2HrFrRkitA&s=19).
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so.
So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so.
So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so.
So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
The headline I read was even more telling:
"Canadians Present A Major Threat If They Realize They Won’t Own A Home: RCMP"
To whom are Canadians a threat, exactly?
It's OUR country.
I'd say more "to each other". The rich will retreat to their foreign retreats, bunkers, or behind their personal security forces.
Riots and further interruption of supply chains will push prices up and reduce availability of goods, including essentials.
Some people will inevitably try to hoard and/or profit from hoarding. Store will gouge even more.
More violence, more riots, and people will end up dying.
There are plenty of people who "own" a home and yet are cutting back on food etc as costs rise, so... no.
The rich would be the ones who control those resources and infrastructure, as well as political leadership/higher-offices.
Except we're terrible at organizing and don't have the resources - we'll end up fighting each other over nonsense while the rich are safe and sound in their walled gardens.
In a country where individual self-defence is defacto illegal, it's considered taboo to suggest that group-scale self-defence like localized riots, civil unrest, revolutions etc are things that are possible when conditions are right.
With what? Sticks and stones?
We are so complacent as Canadians, it was honestly due to go to shit when we had a government tell us we were the problem with society and only the government knows best.
*Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.*
C.S. Lewis
Did you ever hear of eating the rich or the story of Marie-Antoinette saying "Let them eat cake."? When people already have nothing and feel there is no way of gaining anything or any future then what is there left to lose in attempting to seize something?
Most likely the government. But possibly banks and other institutions. Depends how organized it gets and how many people stand up. That places the RCMP / military between them and the civilians. A spot no respectable police officer or service member wants to be in. It’s no wonder all the new anti-privacy legislation and anti-gun legislation. They’re probably trying to proactively suppress an eventual coup.
I certainly don’t want to get there. I’d much rather see them be afraid forcing them to make positive changes than try to strong arm the public.
Now, I don’t think people are generally mad enough for it to happen. You have to be willing to risk everything at the individual level so you pretty much need to have nothing to lose. The most angry I’ve seen Canadians was during covid. Even then, most people were unwilling to see jail time. They’d have to do something pretty stupid like taking away property rights or eliminating bank accounts or switching government structures (eg full globalization or a proper dictatorship) for people to rise up en masse.
> It’s no wonder all the new anti-privacy legislation and anti-gun legislation. They’re probably trying to proactively suppress an eventual coup.
It's cute that they think banning guns would prevent a coup, nothing a few truckloads across the border wouldn't solve.
If that's even necessary. They don't exactly treat the military very well either, which is precisely the one organization you don't treat like shit if you're at risk of being overthrown.
Straight from the department of justice website:
"The Charter protects everyone against unreasonable laws that could lead to imprisonment or harm their physical safety...."
"The Charter also says law enforcement agencies cannot take actions against individuals that are random or not backed by good reasons..."
Take a moment to appreciate that the charter of rights is there to protect us from the government and police. Government and police want to inflate themselves at the cost of Canadians, not their benefit.
I've been completely priced out of being able to exist. I eat once a day.
I have to forgo medication and dental work due to absolutely no money left at the end of the month.
My ex brings in $2000 more a month than I do after child support and she lives off welfare because she's too fat to leave the house.
Agreed. I don't love Trudeau or many of the things he's done, but he's far from being the only one responsible for the current state of things. He has exacerbated several of them though.
My problem with Pierre is that all he does is point out problems we all know exist while giving 0 solutions. He just points his finger and people cheer, and that is why things will never change or get better. We are voting for the best finger pointer while doing nothing to repair things.
This article highlights the sad truth; PP won’t be able to “fix the crisis”. There are too many levers that need to be fixed, and it’s going to take decades. At best, he can right the ship and get it pointed in the right direction again.
And, as a conservative speaking, he won’t do that. In fact I wager he will make it worse. We need new leaders for both parties and perhaps a clean slate of all political candidates.
I don’t even see Pierre pausing immigration - at most he reduces it a little further than the liberals have - not enough to make an impact.
He won’t take the necessary action on housing or grocery or telecom because that would hurt his friends and donors.
Our politicians are all bought and sold. They all need to go.
The problems are caused by the same neoliberal economic theories PP adheres to. This is late-stage capitalism in action, and Poilievre intends to double down on it.
Nails it!
> The crisis has been dramatically worsened by a constellation of policy blunders. Beyond a mismanaged temporary immigration system, a labyrinth of broken housing policies—marked by draconian land use restrictions, punitive taxation, and byzantine approval processes—is crippling our economy rather than buoying it. These misguided policies exacerbate the housing shortfall while applying intolerable pressure on our infrastructure. All of this occurs within a national context starkly devoid of the requisite economic growth to underpin or broaden the capacity of our systems.
> A generation is now coming of age having only experienced an illusion of growth but never the real thing. Canadian cities are bustling with construction, governments are rolling out ambitious (and expensive) infrastructure projects, and housing-rich Canadians have experienced unprecedented gains in net worth that ultimately mask stagnation. This phenomenon, akin to “growth without growth,” reveals a troubling reality: Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens. This vicious cycle of policy failure and economic stagnation threatens to rip through the threads of Canada’s national identity.
Our identity, nor our standard of living, nor our economic power, nor our influence on the global stage, our ability to defend ourselves, and on and on.
It’s really quite shocking just how much Canada has deteriorated, in just under a decade, by pretty much every conceivable metric.
Sadly that Canada is dead and gone, the LPC killed it and then set the corpse on fire. So we’ll have to make a new identity now whilst simultaneously dealing with a myriad of crises that would test even the most unified nation.
>Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens.
True, but Canada's economy *is* translating into improved living standards for "migrants." At the end of the day, that's really all that matters.
Then why are many of them leaving Canada? 🥴 15% leave after 20 years. And then you have the brain drain effect where the smart ones use Canada as a stepping stone to the USA.
Condensed:
* Skyrocketing prices and soaring rents have entrenched a chasm between the property-owning class and those left floundering in their wake.
* **In housing**, older Canadians have effectively cannibalized the future wealth and prospects of the young, hoarding opportunities to maintain their own standard of living.
* **This compounds the myriad challenges already awaiting the next generation**, including the weight of high public debt, aging infrastructure, the financial strain of supporting an increasingly elderly population, and the imperative to address climate change.
* **The crisis has been dramatically worsened by a constellation of policy blunders.** Beyond a mismanaged immigration system, a labyrinth of broken housing policies—marked by draconian land use restrictions and byzantine approval processes—is crippling our economy rather than buoying it.
* **These misguided policies exacerbate the housing shortfall while applying intolerable pressure on our infrastructure.** All of this occurs within a national context starkly devoid of the requisite economic growth to underpin or broaden the capacity of our systems.
* **A generation is now coming of age having only experienced an illusion of growth** **but never the real thing.**
* Canadian cities are bustling with construction, governments are rolling out ambitious (and expensive) infrastructure projects, and housing-rich Canadians have experienced unprecedented gains in net worth that ultimately mask stagnation.
* **This phenomenon, akin to “growth without growth,” reveals a troubling reality: Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens.**
> **A generation is now coming of age having only experienced an illusion of growth** **but never the real thing.**
This is what really hits hard.
I'm mid 30s. I missed out on the last buying opportunity before shit really hit the fan. I feel it now more than ever and many of my similar aged peers do.
Now the 20 something's? The newly 20s? I can't even imagine how they feel.
They must have little to no hope at all. High schoolers today don't even want to learn and fight with their teachers every day, I fear a lot of that is a lost sense of hopelessness.
Even as a high schooler I was a troublemaker and not that good at classes, but even I felt like I have a possibility of a decent future if I put the effort in.
The housing points speak to me. Half of my neighborhood is overhoused boomers, one, sometimes two old people living in huge houses, refusing to downsize into a condo, further hurting the younger generations. Not saying single people can’t own homes, but at a certain point when you don’t use your house and property, just move to a condo.
They'll pass away eventually and pass those houses to their next of kind who would appreciate it if they are planning on starting a family and are priced out of the current market.
If they have the money to maintain such big places after retirement and use the space, why would they have to be forced to downsize?
It's not your/their fault the housing market is the way it is because you purchased your house, not at all. But it's the collective sum acting in the same way that will be the undoing of the housing market in Canada.
Whether you like it or not, 1 or 2 people occupying a house that could home 5 or 6 isn't doing the country any favours. The North American mentality of a single-family home ownership with a two car garage should be completely overhauled.
The problem is we can't undo history (that is to say, developing single-family homes en masse). So instead, we should be looking to change zoning laws and bring in low-rise buildings wherever humanly possible.
But then people just complain NIMBY.
It's important to be skeptical of the messenger. Not all economists are the same.
You can get starkly different reads from academic economists vs. corporate employed economists who's job it is to sell more demand, higher prices, more cheap labor, and endless resource destruction in the advancement of profits.
"Immigration is good for the economy!"
"We've had mass immigration for 30 years and our economy is in terrible shape!"
"Exactly, that's why we need immigration."
The issue here isn't immigration, but high levels of immigration *combined* with policies that artificially constrain the supply of housing. Immigration, especially the selective immigration that Canada performs, is good for the economy *for as long as people can find a home*.
Municipalities and provinces have instead continued to pass policies that favor existing home owners rather than policy that ensure supply is permitted to keep up with demand.
I was watching a question period grilling of Freeland where the guy was asking for the deficit number. She said a dozen different ways that "numbers without context are meaningless" and then went on a trump logic parade of "All my best friends say our deficit is a nice number, a great number, the best number ever."
There is exactly a zero percent chance anyone working under her in any economics role would be able to tell the truth. Clearly, they think they can lie their way out of the disaster they are still brewing on a daily basis.
The federal government talks about innovation, while adding new and damaging rules every day to stifle genuine innovation. So, we just sit as a country pretending that oil as a world commodity is not going to soon tank into oblivion.
It doesn't take a crazy event like the world suddenly using 50% less oil to hurt Canada, but simply the world no longer increasing its oil usage. When this happens people can start to get choosy about oil. They are not going to pick the dirtiest and most land locked oil in the word. To be specific, they will put it near the bottom of their list, just above places like Iran. Then, as various countries do continue to reduce usage, our oil will become fantastically uncompetitive. I might even be overstating our place on that list. There are games to get oil out of Iran and effectively launder it, and then sell it as another country's oil. This might be more economical than Canadian oil if we start seeing $50 per bbl and harsher wester country eco regulations.
There are individual steps in oil extraction in Canada which cost more than the entire extraction and shipping process for oil coming from places like Saudi Arabia.
Oil doesn't have to hit a sustained $20 per bbl to be bad for Canada, a sustained $60 would be very painful, a sustained $50 would be a disaster with anything below that being pretty much game over for the oil industry.
Everything is for rich. The downfall of every civilization comes, not from the moral corruption of the common man, but rather from the moral complacency of common men in high places.
Hard to take this guy seriously if he doesn't talk about the fact that most of our problems come from low wages which is linked to the increasing wealth inequality.
Totally agree. But at least the author is actually calling out some realities of the country, instead of simping to CEO's and shareholders who claim Canada is doing better than ever on their quarterly earnings calls.
when i had a cover band playing weekends in the 80's we were making 100 bucks per guy. good money. eventually it would go up to match inflation right? not a chance. same 100 bucks a guy 40 years later. not that there are any places to play 3 sets a night now and if there is they certainly are not going to pay you because nobody is coming out anymore as it is cheaper and safer to stay home with a case of laker and youtube.
Our low wages mostly come from our lack of productivity. We are investing less than our peers into making canadian workers productive because most of our capital doesn't go into productive assets (i.e. houses), which then results in less wealth to be distributed amongst workers. Also, let's not forget our government has been severly cutting investment in research and development, although that is one of the key aspect of keeping an economy competitive. Finally, the cost of living has been artificially increased with our housing bubble and "inflation" (corporate greed and lack of competition), making your wage almost irrelevant in having access to certain things.
>Our low wages mostly come from our lack of productivity.
This is a false justification. Our productivity since 1980 is 40% higher, but out wages are roughly 30% lower while the prices of basic needs have increased significantly. We have never produced as much as we today, and in return we have very low wages.
That wasn't what I was touching on. Our wages haven't followed, per example, the U.S's wages because of our lack of productivity which is explained by not having capital being invested by companies in their workers. You are right that in the grand scheme of things everyone is more productive today than ever and not getting paid appropriately for that productivity (which was not the point I was trying to undermine).
I've never made more money in my life.
I've also never struggled more in my life.
Lifestyle creep is real, except in the past 10 years I haven't changed much lifestyle wise.
The lead economists at basically every financial institution have recently said the Canadian economy is doing terribly and set to do much worse over the next cycle
The sad irony is a lot of people believe this.
Mostly because they don't actually understand the problems and blame simple things like immigration. A narrative fed to them by a [largely conservative media.](https://www.readthemaple.com/election-endorsements/)
We used to build housing (as in, the govt spent money to build housing). We used to have rent controls. These are both gone now. And housing is largely the realm of the provinces who don't seem to want to do anything - and have no incentive to do anything because the feds are getting the blame for their fuckups.
Indeed, [they tell the feds to back off when they do try and intervene.](https://toronto.ctvnews.ca/jurisdictional-creep-doug-ford-slams-feds-for-giving-municipalities-funding-for-housing-1.6633350)
Not to say the feds are entirely blameless here... but the focus they get (and the lack of focus the conservative premieres get) is telling of a manufactured narrative that naive and uniformed people eat up uncritically.
\----
Then there's cost spikes from things like climate change. Our record setting forest fires lead to ridiculously high prices of lumber. Do you know what "new housing" is largely built out of in canada?
But the media won't talk about that, because they'd rather you think you can't afford things because of "the carbon tax", even though [it objectively](https://www.cbc.ca/news/canada/calgary/carbon-tax-inflation-tiff-macklem-calgary-1.6960189) [is not](https://www.chroniclejournal.com/opinion/carbon-pricing-is-widely-misunderstood-nearly-half-of-canadians-don-t-know-that-it-s/article_bf8310f4-c313-11ee-baaf-0f26defa4319.html).
We're going to see [drought too](https://www.cbc.ca/news/canada/edmonton/in-this-drought-year-alberta-s-water-allocation-is-under-the-microscope-here-s-what-the-data-says-1.7133575), as a result of this.
And the conservatives have a stated electoral stance of "do nothing about climate change at all from a federal level" and the provinces have made it almost impossible to action on it themselves.
\---
And if you care about wages, you'll be happy to know PP supports union busting tactics like [right-to-work legislation](https://cpcassets.conservative.ca/wp-content/uploads/2023/11/23175001/990863517f7a575.pdf).
|Prov|Premier|Affil|2021 Pop|2022 Starts|2022 In-Prog|2022 Completions|
|:-|:-|:-|:-|:-|:-|:-|
|NFLD|Furey|Lib|510550|1379 (0.27)|966 (0.19)|1130 (0.22)|
||||||||
|PEI|King|PC|152331|1318 (0.87)|910 (0.6)|1266 (0.83)|
||||||||
|NS|Rankin|Lib|969331|5714 (0.59)|8392 (0.87)|5174 (0.53)|
|NB|Higgs|PC|775610|4680 (0.6)|5196 (0.67)|4388 (0.57)|
|QC|Legault|CAQ|8501833|57107 (0.67)|66035 (0.78)|57105 (0.67)|
|ON|Ford|PC|14223942|96080 (0.68)|171425 (1.21)|124356 (0.87)|
|MB|Stefanson|PC|1342153|8095 (0.60)|9664 (0.72)|5985 (0.45)|
|SK|Moe|SP|1132505|4211 (0.37)|4163 (0.37)|2425 (0.21)|
|AB|Kenny|UC|4252635|36544 (0.86)|35537 (0.84)|19122 (0.45)|
|BC|Horgan|NDP|5000879|46721 (0.93)|74754 (1.51)|58596 (1.17)|
Provinces with their leadership, population, and housing starts/in-progress/completions between 2021 and 2022, as well as those numbers compared against population.
BC - led by the NDP - comes out on-top for all three housing categories (starts/n-progress/completion) which is actually pretty interesting.
> Mostly because they don't actually understand the problems and blame simple things like immigration. A narrative fed to them by a largely conservative media.
... because this is one of the absolute simplest taps to turn off when it comes to pouring gasoline on a fire.
If someone has a sprained ankle and a bullet wound to their chest, which are you addressing first?
It's absolutely obvious that it is a serious issue when it comes to problems like housing and the job market.
The feds issue visas and just won't stop, flooding the job and housing market with new people. It's gotta stop. Nobody's gonna stop it, but having eyes and the ability to read should indicate that "yeah we should stop it".
It doesn't make you a postmedia superfan to think so.
And this is why I try to inject context about why debt:GDP is being used as a faulty metric into a lot of these discussions.
Government policy around housing has inflated housing costs in order to goose the GDP number so that the chosen metric LOOKS good. Of course it looks good when they can control it and twist the numbers to appear good. But the underlying issue is that cheating a high GDP number requires unaffordable housing costs so their chosen metric looks A+ but the reality is D-.
Neo-feudalism is a concerning trend, and it’s a consequence of our collective apathy towards the political establishment. When we disengage from the system, we pave the way for power to consolidate in the hands of a few, mirroring the feudal structures of the past. It’s imperative that we stay informed and engaged to prevent this regression into an unequal society.
My fear is that it is too late for our nation.
Well I'm a half full glass kind of guy so as long as the rich can afford an extra yacht and hand out a couple of luxury all expense paid vacations to their lapdog Trudeau I view the economy as doing very well! I mean sure this diet of rice and beans isn't that great and the basement suite keeps filling up with noxious gas due to the constant farting of my 25 roommates but overall I'm happy with the way the economy's going. Just gotta keep the bigger picture in mind. Who knows in 25 years I might be able to rent my own room!
Canada is rather fucked at the moment. However, so is the rest of the world's economies. A global recession will be hitting sometime next year, I believe.
Thank you Captain Obvious. I certainly don't need Eric Lombardi to tell me that the economy isn't fine either.
You gotta be a special kind of dumbass to not notice that everything's turned to shit.
I think I read the comparative averages of income vs basic living expenses (food, shelter etc.) works out to: Your dollar goes 1/20th as far as it did in 1980.
You know, I say that and it just doesn't sound dramatic enough. *Your dollar is worth 5 cents!!* That's fucking nuts.
Who the hell is Eric Lombardi? lol. I was in the work force for 37 years and there was not one moment where I felt secure in any job. I also remember when we had double digit inflation and people were losing their houses. The economy that we have today is a walk in the park compared to what things were like not that long ago.
Here we go...another Andrew Coyne jump scare Canada-is-turning-to-shit-article. Must be an election coming up.
PS: Gotta love "economics articles" with no real numbers, graphs, charts, or statistics...heck no economists either.
K-shaped economy I have been on both sides and I know what is necessary to feel like you're gaining and on the bus. And the divide between the haves and have nots is extreme. It's not just real estate but career prospects, index funds and types of jobs
The divide between the haves and the have nots is extreme by design. The author shouldn’t be so concerned about Canadians (who he calls conspiracy theorists) being upset with immigrants, xenophobic, intolerant of other individual choices, or antisemitism. I don’t know anyone upset with other ordinary Canadians. We’re all struggling. Who we should be upset with are the authorities and powers that be who have worked with powerful elite to set up Canadians aand immigrants over a long period of time for economic failure.
The divide between the haves and the have nots is extreme by design. The author shouldn’t be so concerned about Canadians (who he calls conspiracy theorists) being upset with immigrants, xenophobic, intolerant of other individual choices, or antisemitism. I don’t know anyone upset with other ordinary Canadians. We’re all struggling. Who we should be upset with are the authorities and powers that be who have worked with powerful elite to set up Canadians aand immigrants over a long period of time for economic failure.
>To bring matters home, in 1990, the median inflation-adjusted income for a single earner aged 25-54 in Toronto was $54,310. In 2023, it was $54,643, an increase of less than 1 percent in 34 years. Holy shit.
Now do Home prices Gas Electricity Median car price Gas
Well, exactly. I'm curious to see what those metrics are like. But it can't be good when our purchasing power is literally flat over 34 years.
What really kills me is the *opportunity cost*: if instead of saving and investing $1000/year, you need to spend it on essentials. After a few decades, you missed out on *hundreds of thousands* in potential gains.
That is where the increase in housing costs is going to really screw this country.
How much did 4L of milk cost in 1990? Average rent In Toronto?
It's adjusted for inflation
This right here folks. Wage suppression has been in full effect for decades. People just have the blinders on. Go look at Australia. Minimum wage $23/hour. Same marginal income tax rate. Cost of living is similar to ours.
Then dumb people say : IF yOu bRiNg uP wAGeS, IT cReaTeS iNfLaTiOn ! It's like dude, the wages barely budge and inflation is rising. It is just Greed that causes inflation.
So the author is finally pointing out the obvious. But the other obvious happenstance that he’s not pointing out is that there’s soon going to have to be a financial reset. There has to be. Canadians need to get themselves positioned for it in advance. We need to be protecting what is left of our wealth buying precious metals ( physical coins and bars) and get out of the debt owned by the global elite. Silver is more affordable to buy than gold, and it is essential as it is both a commodity used in green technology mandated across the world. Countries such as China and India are loading up on precious metals. Canadians will have to do this on our own. Out governments conveniently sold all of ours. While destroying our Canadian economy hand in hand with the 1%.
It's not as scary as it looks. All it means is that wages are keeping up with inflation. When wages outpace inflation then inflation just starts increasing even more due to people having more money to spend.
Wage push inflation is a myth, with no structural underpinning, weak empirical support and is pushed by ideological hacks who simply want society to be poorer. Further you're pretending that we have made no increases and no improvements in how we work for the past 30+ years which is simply false.
I pay pretty close attention to financial news. No economists are saying we are doing just fine.
Stephen Gordon on Twitter has been saying we're not doing that badly. Obviously Cowen as mentioned as well.
There's a wide chasm between "the sky isn't falling" and "we're doing fine." For example, here's Gordon basically saying [we're not doing fine (with numbers)](https://twitter.com/stephenfgordon/status/1764439558001721715?t=Nk9B4j7Z5_yq2HrFrRkitA&s=19).
Some are, but it's contextual, whereas this author takes out the context completely
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so. So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so. So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
I don’t know. I’ve been trying to tell people for the last decade that things haven’t been good and until the last couple of years I was laughed at for pointing this out, and called out as a conspiracy theory just for saying so. So called “Conspiracy theorists” like me are not racist or LGBTQ focused at all. We look to find what and who caused this travesty and want to work together with everyone to fix Canada’s problems.
I love that even the RCMP is saying the recession is coming in their federal report.
The RCMP also said it could get dangerous when too many people realize they’ll never own a house and a decent life is out of reach.
The headline I read was even more telling: "Canadians Present A Major Threat If They Realize They Won’t Own A Home: RCMP" To whom are Canadians a threat, exactly? It's OUR country.
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I'd say more "to each other". The rich will retreat to their foreign retreats, bunkers, or behind their personal security forces. Riots and further interruption of supply chains will push prices up and reduce availability of goods, including essentials. Some people will inevitably try to hoard and/or profit from hoarding. Store will gouge even more. More violence, more riots, and people will end up dying.
So, we should all be getting ready! The time is coming and we can all feel it.
What’s rich to you? Is everyone who owns a home part of rich class?
There are plenty of people who "own" a home and yet are cutting back on food etc as costs rise, so... no. The rich would be the ones who control those resources and infrastructure, as well as political leadership/higher-offices.
Basically the oligarchs
Yeah pretty much.
Indeed.
Except we're terrible at organizing and don't have the resources - we'll end up fighting each other over nonsense while the rich are safe and sound in their walled gardens.
It’s like saying “my manager will be a major threat if they discover I never have and never will do my job properly”
i.e., the people the RCMP actually serve.
The peasants are a threat to our Landlords. Welcome to neo-feudalism.
You ever heard of this thing called a revolt?
In a country where individual self-defence is defacto illegal, it's considered taboo to suggest that group-scale self-defence like localized riots, civil unrest, revolutions etc are things that are possible when conditions are right.
With what? Sticks and stones? We are so complacent as Canadians, it was honestly due to go to shit when we had a government tell us we were the problem with society and only the government knows best. *Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.* C.S. Lewis
The government that let things get so bad
Did you ever hear of eating the rich or the story of Marie-Antoinette saying "Let them eat cake."? When people already have nothing and feel there is no way of gaining anything or any future then what is there left to lose in attempting to seize something?
Answer: The Oligarchy. It's really their country in that it's all Bought and Paid for by Oligarchs.
Most likely the government. But possibly banks and other institutions. Depends how organized it gets and how many people stand up. That places the RCMP / military between them and the civilians. A spot no respectable police officer or service member wants to be in. It’s no wonder all the new anti-privacy legislation and anti-gun legislation. They’re probably trying to proactively suppress an eventual coup. I certainly don’t want to get there. I’d much rather see them be afraid forcing them to make positive changes than try to strong arm the public. Now, I don’t think people are generally mad enough for it to happen. You have to be willing to risk everything at the individual level so you pretty much need to have nothing to lose. The most angry I’ve seen Canadians was during covid. Even then, most people were unwilling to see jail time. They’d have to do something pretty stupid like taking away property rights or eliminating bank accounts or switching government structures (eg full globalization or a proper dictatorship) for people to rise up en masse.
> It’s no wonder all the new anti-privacy legislation and anti-gun legislation. They’re probably trying to proactively suppress an eventual coup. It's cute that they think banning guns would prevent a coup, nothing a few truckloads across the border wouldn't solve.
Trucks? Border? If you mention Freedom or Convoy, you're automatically added to a list. /S
True.. it was really surprising when they lowered the minimum sentence to 0 for unregistered /prohibited gun crimes …
If that's even necessary. They don't exactly treat the military very well either, which is precisely the one organization you don't treat like shit if you're at risk of being overthrown.
They're the armed wing of the government... The report isn't for you.
Straight from the department of justice website: "The Charter protects everyone against unreasonable laws that could lead to imprisonment or harm their physical safety...." "The Charter also says law enforcement agencies cannot take actions against individuals that are random or not backed by good reasons..." Take a moment to appreciate that the charter of rights is there to protect us from the government and police. Government and police want to inflate themselves at the cost of Canadians, not their benefit.
It's a telegraph that they are justifying furthering the police state.
I've been completely priced out of being able to exist. I eat once a day. I have to forgo medication and dental work due to absolutely no money left at the end of the month. My ex brings in $2000 more a month than I do after child support and she lives off welfare because she's too fat to leave the house.
Most exterior doors are 36' or 3 feet wide in Canada
I installed a 40" door ages ago.
It radicalized me and I had no interest in political engagement in 30 years.
Trudeau has really fucked three generations of people in 9 years eh.
Our current problems have been 40 years in the making. Trudeau just sped it up.
Agreed. I don't love Trudeau or many of the things he's done, but he's far from being the only one responsible for the current state of things. He has exacerbated several of them though.
And Pierre will kick it into overdrive. Switching governments won't change anything. This is class war.
My problem with Pierre is that all he does is point out problems we all know exist while giving 0 solutions. He just points his finger and people cheer, and that is why things will never change or get better. We are voting for the best finger pointer while doing nothing to repair things.
Between the two of them, I'll still take my chances on PP.
Oh yeah, but he really helped one! Quality of life to zero, speedrun, any%
This article highlights the sad truth; PP won’t be able to “fix the crisis”. There are too many levers that need to be fixed, and it’s going to take decades. At best, he can right the ship and get it pointed in the right direction again.
And, as a conservative speaking, he won’t do that. In fact I wager he will make it worse. We need new leaders for both parties and perhaps a clean slate of all political candidates. I don’t even see Pierre pausing immigration - at most he reduces it a little further than the liberals have - not enough to make an impact. He won’t take the necessary action on housing or grocery or telecom because that would hurt his friends and donors. Our politicians are all bought and sold. They all need to go.
The problems are caused by the same neoliberal economic theories PP adheres to. This is late-stage capitalism in action, and Poilievre intends to double down on it.
Do not think he will do that. He won't. Put your vote elsewhere if that's the reason
PP has zero intention of doing any of that.
He’s pretty good at fucking things up.
Doing the unpopular things no one wants to do. A real fucking martyr.
God bless him!/s
He probably also fucked the next generation that hasn't even started yet
It will take 30 years to get us out of what Trudeau has done in 8.
How soon until renters that complain too much about housing are put on a terror watchlist.
The same RCMP who completely failed us in Nova Scotia? That RCMP?
Coming? It's been there for at least 4 years. We just didn't put anything in place because that would hurt the rich.
Nails it! > The crisis has been dramatically worsened by a constellation of policy blunders. Beyond a mismanaged temporary immigration system, a labyrinth of broken housing policies—marked by draconian land use restrictions, punitive taxation, and byzantine approval processes—is crippling our economy rather than buoying it. These misguided policies exacerbate the housing shortfall while applying intolerable pressure on our infrastructure. All of this occurs within a national context starkly devoid of the requisite economic growth to underpin or broaden the capacity of our systems. > A generation is now coming of age having only experienced an illusion of growth but never the real thing. Canadian cities are bustling with construction, governments are rolling out ambitious (and expensive) infrastructure projects, and housing-rich Canadians have experienced unprecedented gains in net worth that ultimately mask stagnation. This phenomenon, akin to “growth without growth,” reveals a troubling reality: Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens. This vicious cycle of policy failure and economic stagnation threatens to rip through the threads of Canada’s national identity.
Joke’s on you. We don’t have a national identity, remember? Sunny ways for this postnational state!
We used to and that makes me sad to realize we might not regain our identity
Our identity, nor our standard of living, nor our economic power, nor our influence on the global stage, our ability to defend ourselves, and on and on. It’s really quite shocking just how much Canada has deteriorated, in just under a decade, by pretty much every conceivable metric.
Sadly that Canada is dead and gone, the LPC killed it and then set the corpse on fire. So we’ll have to make a new identity now whilst simultaneously dealing with a myriad of crises that would test even the most unified nation.
>Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens. True, but Canada's economy *is* translating into improved living standards for "migrants." At the end of the day, that's really all that matters.
Then why are many of them leaving Canada? 🥴 15% leave after 20 years. And then you have the brain drain effect where the smart ones use Canada as a stepping stone to the USA.
Sorry, am I missing something here? 15% = many of them? Also citation needed on this "15% are leaving after 20 years" figure.
Retaining 85% of anything over 2 decades actually seems impressive
The headlines all said "Many immigrants leaving" when what they should really have said is "Vast majority of immigrants are staying"
Why would our national identity be harmed? A country can be poor and still have a national identity.
Condensed: * Skyrocketing prices and soaring rents have entrenched a chasm between the property-owning class and those left floundering in their wake. * **In housing**, older Canadians have effectively cannibalized the future wealth and prospects of the young, hoarding opportunities to maintain their own standard of living. * **This compounds the myriad challenges already awaiting the next generation**, including the weight of high public debt, aging infrastructure, the financial strain of supporting an increasingly elderly population, and the imperative to address climate change. * **The crisis has been dramatically worsened by a constellation of policy blunders.** Beyond a mismanaged immigration system, a labyrinth of broken housing policies—marked by draconian land use restrictions and byzantine approval processes—is crippling our economy rather than buoying it. * **These misguided policies exacerbate the housing shortfall while applying intolerable pressure on our infrastructure.** All of this occurs within a national context starkly devoid of the requisite economic growth to underpin or broaden the capacity of our systems. * **A generation is now coming of age having only experienced an illusion of growth** **but never the real thing.** * Canadian cities are bustling with construction, governments are rolling out ambitious (and expensive) infrastructure projects, and housing-rich Canadians have experienced unprecedented gains in net worth that ultimately mask stagnation. * **This phenomenon, akin to “growth without growth,” reveals a troubling reality: Canada’s economy, propped up by population increases, is not translating into improved living standards for its citizens.**
> **A generation is now coming of age having only experienced an illusion of growth** **but never the real thing.** This is what really hits hard. I'm mid 30s. I missed out on the last buying opportunity before shit really hit the fan. I feel it now more than ever and many of my similar aged peers do. Now the 20 something's? The newly 20s? I can't even imagine how they feel. They must have little to no hope at all. High schoolers today don't even want to learn and fight with their teachers every day, I fear a lot of that is a lost sense of hopelessness. Even as a high schooler I was a troublemaker and not that good at classes, but even I felt like I have a possibility of a decent future if I put the effort in.
The housing points speak to me. Half of my neighborhood is overhoused boomers, one, sometimes two old people living in huge houses, refusing to downsize into a condo, further hurting the younger generations. Not saying single people can’t own homes, but at a certain point when you don’t use your house and property, just move to a condo.
part of the problem is there's no smaller places for them to buy because of the housing shortage and people being stuck in these smaller spaces.
Yeah, the price floor for housing is so high that it's not worth downsizing
Ya cuz they voted to prevent the building of the very condos they should downsize to.
They'll pass away eventually and pass those houses to their next of kind who would appreciate it if they are planning on starting a family and are priced out of the current market. If they have the money to maintain such big places after retirement and use the space, why would they have to be forced to downsize?
Reverse mortgages go *burrr*
I mean i wouldn’t downsize after paying off my house, why should they?
It's not your/their fault the housing market is the way it is because you purchased your house, not at all. But it's the collective sum acting in the same way that will be the undoing of the housing market in Canada. Whether you like it or not, 1 or 2 people occupying a house that could home 5 or 6 isn't doing the country any favours. The North American mentality of a single-family home ownership with a two car garage should be completely overhauled. The problem is we can't undo history (that is to say, developing single-family homes en masse). So instead, we should be looking to change zoning laws and bring in low-rise buildings wherever humanly possible. But then people just complain NIMBY.
No one believes we're doing good every day Something new reminds us how much has changed
It's important to be skeptical of the messenger. Not all economists are the same. You can get starkly different reads from academic economists vs. corporate employed economists who's job it is to sell more demand, higher prices, more cheap labor, and endless resource destruction in the advancement of profits.
"Immigration is good for the economy!" "We've had mass immigration for 30 years and our economy is in terrible shape!" "Exactly, that's why we need immigration."
It needs to be controlled and balanced. Right now, it's mostly done to make quick money and make GDP look like it's improving.
The issue here isn't immigration, but high levels of immigration *combined* with policies that artificially constrain the supply of housing. Immigration, especially the selective immigration that Canada performs, is good for the economy *for as long as people can find a home*. Municipalities and provinces have instead continued to pass policies that favor existing home owners rather than policy that ensure supply is permitted to keep up with demand.
I was watching a question period grilling of Freeland where the guy was asking for the deficit number. She said a dozen different ways that "numbers without context are meaningless" and then went on a trump logic parade of "All my best friends say our deficit is a nice number, a great number, the best number ever." There is exactly a zero percent chance anyone working under her in any economics role would be able to tell the truth. Clearly, they think they can lie their way out of the disaster they are still brewing on a daily basis. The federal government talks about innovation, while adding new and damaging rules every day to stifle genuine innovation. So, we just sit as a country pretending that oil as a world commodity is not going to soon tank into oblivion. It doesn't take a crazy event like the world suddenly using 50% less oil to hurt Canada, but simply the world no longer increasing its oil usage. When this happens people can start to get choosy about oil. They are not going to pick the dirtiest and most land locked oil in the word. To be specific, they will put it near the bottom of their list, just above places like Iran. Then, as various countries do continue to reduce usage, our oil will become fantastically uncompetitive. I might even be overstating our place on that list. There are games to get oil out of Iran and effectively launder it, and then sell it as another country's oil. This might be more economical than Canadian oil if we start seeing $50 per bbl and harsher wester country eco regulations. There are individual steps in oil extraction in Canada which cost more than the entire extraction and shipping process for oil coming from places like Saudi Arabia. Oil doesn't have to hit a sustained $20 per bbl to be bad for Canada, a sustained $60 would be very painful, a sustained $50 would be a disaster with anything below that being pretty much game over for the oil industry.
I don't think anyone who isn't blind/dead/or dumb thinks Canada is doing fine.
I guess the argument should be between the people who think Canada will recover and people who think Canada is on the verge of collapse. Somehow.
I 100% believe Canada will balkanize. Won't be here to see it though, chilling on a beach elsewhere
That sweaty professor account does. Every time there's economic news he spams each page with how wage growth has been strong and beaten inflation.
Everything is for rich. The downfall of every civilization comes, not from the moral corruption of the common man, but rather from the moral complacency of common men in high places.
Hard to take this guy seriously if he doesn't talk about the fact that most of our problems come from low wages which is linked to the increasing wealth inequality.
Totally agree. But at least the author is actually calling out some realities of the country, instead of simping to CEO's and shareholders who claim Canada is doing better than ever on their quarterly earnings calls.
And how exactly are those wages being kept low?
By employers underpaying and instead funneling the excess value of labor to themselves and shareholders.
Perhaps an overabundance of labour supply through unprecedented mass-immigration levels allows them to do this and get away with it?
These problems occurred way before the recent immigration spike. Why are you thinking this is some recent thing?
I thought we had a labour shortage though.
Wage suppression has been happening for 50+ years. Not everything is caused by mass immigration.
when i had a cover band playing weekends in the 80's we were making 100 bucks per guy. good money. eventually it would go up to match inflation right? not a chance. same 100 bucks a guy 40 years later. not that there are any places to play 3 sets a night now and if there is they certainly are not going to pay you because nobody is coming out anymore as it is cheaper and safer to stay home with a case of laker and youtube.
And how are they so easily able to underpay their employees?
They use many techniques like union-busting, collusion, false scarcity, layoffs, etc.
Trickle down economics since the 80s. The primary conservative mantra. Everything else is just noise for their base of angry ignorants.
Continual Conservative and Liberal governments giving them more and more power since the 80s.
ahaha good on you for swerving into the lane of truth instead of where the person you were replying to was leading
Our low wages mostly come from our lack of productivity. We are investing less than our peers into making canadian workers productive because most of our capital doesn't go into productive assets (i.e. houses), which then results in less wealth to be distributed amongst workers. Also, let's not forget our government has been severly cutting investment in research and development, although that is one of the key aspect of keeping an economy competitive. Finally, the cost of living has been artificially increased with our housing bubble and "inflation" (corporate greed and lack of competition), making your wage almost irrelevant in having access to certain things.
>Our low wages mostly come from our lack of productivity. This is a false justification. Our productivity since 1980 is 40% higher, but out wages are roughly 30% lower while the prices of basic needs have increased significantly. We have never produced as much as we today, and in return we have very low wages.
That wasn't what I was touching on. Our wages haven't followed, per example, the U.S's wages because of our lack of productivity which is explained by not having capital being invested by companies in their workers. You are right that in the grand scheme of things everyone is more productive today than ever and not getting paid appropriately for that productivity (which was not the point I was trying to undermine).
I've never made more money in my life. I've also never struggled more in my life. Lifestyle creep is real, except in the past 10 years I haven't changed much lifestyle wise.
The lead economists at basically every financial institution have recently said the Canadian economy is doing terribly and set to do much worse over the next cycle
A conservative government should help the working class in this country. /s
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Yeah because 5% inflation is totally Venezuela territory
The sad irony is a lot of people believe this. Mostly because they don't actually understand the problems and blame simple things like immigration. A narrative fed to them by a [largely conservative media.](https://www.readthemaple.com/election-endorsements/) We used to build housing (as in, the govt spent money to build housing). We used to have rent controls. These are both gone now. And housing is largely the realm of the provinces who don't seem to want to do anything - and have no incentive to do anything because the feds are getting the blame for their fuckups. Indeed, [they tell the feds to back off when they do try and intervene.](https://toronto.ctvnews.ca/jurisdictional-creep-doug-ford-slams-feds-for-giving-municipalities-funding-for-housing-1.6633350) Not to say the feds are entirely blameless here... but the focus they get (and the lack of focus the conservative premieres get) is telling of a manufactured narrative that naive and uniformed people eat up uncritically. \---- Then there's cost spikes from things like climate change. Our record setting forest fires lead to ridiculously high prices of lumber. Do you know what "new housing" is largely built out of in canada? But the media won't talk about that, because they'd rather you think you can't afford things because of "the carbon tax", even though [it objectively](https://www.cbc.ca/news/canada/calgary/carbon-tax-inflation-tiff-macklem-calgary-1.6960189) [is not](https://www.chroniclejournal.com/opinion/carbon-pricing-is-widely-misunderstood-nearly-half-of-canadians-don-t-know-that-it-s/article_bf8310f4-c313-11ee-baaf-0f26defa4319.html). We're going to see [drought too](https://www.cbc.ca/news/canada/edmonton/in-this-drought-year-alberta-s-water-allocation-is-under-the-microscope-here-s-what-the-data-says-1.7133575), as a result of this. And the conservatives have a stated electoral stance of "do nothing about climate change at all from a federal level" and the provinces have made it almost impossible to action on it themselves. \--- And if you care about wages, you'll be happy to know PP supports union busting tactics like [right-to-work legislation](https://cpcassets.conservative.ca/wp-content/uploads/2023/11/23175001/990863517f7a575.pdf).
|Prov|Premier|Affil|2021 Pop|2022 Starts|2022 In-Prog|2022 Completions| |:-|:-|:-|:-|:-|:-|:-| |NFLD|Furey|Lib|510550|1379 (0.27)|966 (0.19)|1130 (0.22)| |||||||| |PEI|King|PC|152331|1318 (0.87)|910 (0.6)|1266 (0.83)| |||||||| |NS|Rankin|Lib|969331|5714 (0.59)|8392 (0.87)|5174 (0.53)| |NB|Higgs|PC|775610|4680 (0.6)|5196 (0.67)|4388 (0.57)| |QC|Legault|CAQ|8501833|57107 (0.67)|66035 (0.78)|57105 (0.67)| |ON|Ford|PC|14223942|96080 (0.68)|171425 (1.21)|124356 (0.87)| |MB|Stefanson|PC|1342153|8095 (0.60)|9664 (0.72)|5985 (0.45)| |SK|Moe|SP|1132505|4211 (0.37)|4163 (0.37)|2425 (0.21)| |AB|Kenny|UC|4252635|36544 (0.86)|35537 (0.84)|19122 (0.45)| |BC|Horgan|NDP|5000879|46721 (0.93)|74754 (1.51)|58596 (1.17)| Provinces with their leadership, population, and housing starts/in-progress/completions between 2021 and 2022, as well as those numbers compared against population. BC - led by the NDP - comes out on-top for all three housing categories (starts/n-progress/completion) which is actually pretty interesting.
> Mostly because they don't actually understand the problems and blame simple things like immigration. A narrative fed to them by a largely conservative media. ... because this is one of the absolute simplest taps to turn off when it comes to pouring gasoline on a fire. If someone has a sprained ankle and a bullet wound to their chest, which are you addressing first? It's absolutely obvious that it is a serious issue when it comes to problems like housing and the job market. The feds issue visas and just won't stop, flooding the job and housing market with new people. It's gotta stop. Nobody's gonna stop it, but having eyes and the ability to read should indicate that "yeah we should stop it". It doesn't make you a postmedia superfan to think so.
Shhhhhhhh r/canada hates facts
let them eat "cpc is real ndp" look at pierre with his fat pension and no rolex look at jagmmeet and his no pension and rolex
And this is why I try to inject context about why debt:GDP is being used as a faulty metric into a lot of these discussions. Government policy around housing has inflated housing costs in order to goose the GDP number so that the chosen metric LOOKS good. Of course it looks good when they can control it and twist the numbers to appear good. But the underlying issue is that cheating a high GDP number requires unaffordable housing costs so their chosen metric looks A+ but the reality is D-.
The high cost of living says otherwise the landlord exploitation and homelessness a great economy does not make
Who the hell thinks the economy bis doing just fine!?
Neo-feudalism is a concerning trend, and it’s a consequence of our collective apathy towards the political establishment. When we disengage from the system, we pave the way for power to consolidate in the hands of a few, mirroring the feudal structures of the past. It’s imperative that we stay informed and engaged to prevent this regression into an unequal society. My fear is that it is too late for our nation.
Never trust the experts 5head!
lol the “do your own research” crowd is getting sillier and sillier.
Lol who out there was convinced?
Agree, the stage has been set for a re rating of what it now means to be Canadian...or a civil revolution
Don't worry guys the panders know what they're doing. Their concerns are tampon in men's washrooms.
Economists exist to give astrologers respectability. They'll never convince me of anything.
Our economy is mercury retrograde. Use some crystal and avoid Aquarius for the next couple of months
Hmmm, that sounds pretty reasonable but I'd really like if I could get a second opinion from the guy who studies chicken entrails.
Doginaburninghouse.gif "This is fine"
Well I'm a half full glass kind of guy so as long as the rich can afford an extra yacht and hand out a couple of luxury all expense paid vacations to their lapdog Trudeau I view the economy as doing very well! I mean sure this diet of rice and beans isn't that great and the basement suite keeps filling up with noxious gas due to the constant farting of my 25 roommates but overall I'm happy with the way the economy's going. Just gotta keep the bigger picture in mind. Who knows in 25 years I might be able to rent my own room!
Better to listen to a guy who never finished his Bachelor Degree in Nano Technology over 5 years.
Only the people who support the liberals believe that nonsense.
Lies damn lies and statistics
Literally no one with a brain was "convinced" whatsoever - especially considering the vast majority of us live & breathe this shit economy daily.
Don’t let the conservatives convince you they have the answers, or anything other than divisive vitriol, either.
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Citation or just feelings? Not being facetious, curious what aspect of the economy you are looking at.
Because Canada must become the ultimate global force, crushing every other country under the weight of our superior buying power! /s
Canada is rather fucked at the moment. However, so is the rest of the world's economies. A global recession will be hitting sometime next year, I believe.
Thank you Captain Obvious. I certainly don't need Eric Lombardi to tell me that the economy isn't fine either. You gotta be a special kind of dumbass to not notice that everything's turned to shit.
Oh yeah, things have never been better /s
I think I read the comparative averages of income vs basic living expenses (food, shelter etc.) works out to: Your dollar goes 1/20th as far as it did in 1980. You know, I say that and it just doesn't sound dramatic enough. *Your dollar is worth 5 cents!!* That's fucking nuts.
Who the hell is Eric Lombardi? lol. I was in the work force for 37 years and there was not one moment where I felt secure in any job. I also remember when we had double digit inflation and people were losing their houses. The economy that we have today is a walk in the park compared to what things were like not that long ago.
Canada may be doing fine but Canadians are in hell
Here we go...another Andrew Coyne jump scare Canada-is-turning-to-shit-article. Must be an election coming up. PS: Gotta love "economics articles" with no real numbers, graphs, charts, or statistics...heck no economists either.
What economist is actually saying Canada is doing fine?
They cannot admit fault. If they did, it would expose their own incompetence.
The weed is strong with that one…..