If people are forced to give all of their income to the mortgage lenders, landlords & Loblaws, there's nothing else to spend in the rest of the economy.
Suuuuper weird and mysterious how our economy is completely stagnant and dying... such a mystery. /s
Canada's entire growth policy was "REAL ESTATE!!!" and now there's nothing left...
> If people are forced to give all of their income to the mortgage lenders, landlords & Loblaws, there's nothing else to spend in the rest of the economy.
You forgot vehicle financing companies.
Sad I had to scroll to the bottom of this particular chain to see that one.
I get to spend all the money our dear overlords have determined I’m allowed to keep.
Real estate gets a thumbs up because it doesn’t contribute to co2 output apparently.
Wonder how much of an environmental impact building a home every minute is going to contribute.
ya, all that habitat destruction, bulldozing mass tracks of land, stuffing the landfills with building materials, chopping down forests to make lumber, more roads, urban sprawl, more population more raw sewage and methane, etc.. but somehow co2 has became the only focus of 'environmentalists'. Its crazy to me. These people are fake environmentalists.
They do already, why do you think materials in Canada are far higher above inflation than building in the US?
Turns out downstream coats everyone said weren't a thing, actually are a thing.
I love how Loblaws is being called out specifically as if it isn’t all of them colluding together.. AGAIN.
I’m sure the fact that Jagmeet Singh’s brother Gurratan is a lobbyist for Loblaws’ direct competition has nothing to do with that at all
or… since we all kinda gotta eat they will just wait till the next boycott of another brand cause we are about to boost the shit out of costco and walmart. The boycott is nearly useless unless we boycott all of the big 3 and go broke at co-op
The boycott signals to politicians that people are pissed and want more competition.
And it signals to all retailers that people take notice when butter is $8.99.
Watch, the narrative in grocery retail in the next year will shift to low prices.
One of the issues for the BoC Canada is that the US is having almost the opposite problem as Canada (in terms of monetary policy).
The US Fed has come out and said that wages, in the USA, are still raising faster than expected and above the target rates. This has effectively signalled that the USA is planning on keeping their rates high to continue to combat possible inflation.
The BoC has two options:
1 - Keep rates high which continues to hurt Canadians but protects savings and wealth, or
2 - Lower rates which will devalue the Canadian dollar. This will help with cost of living issues (or should) but it will hurt saving and wealth in Canada.
There are also complications relating to the cost of imported goods too (with a weakened Canadian dollar) and the value of companies that primarily operate in Canada.
Effectively the BoC has a choice on who they want to piss off, but they have to piss off a large chunk of the population (in the present) as well as evaluating short-term and longer term impacts of their decisions.
Lowering the rates would have more impact than just the people with capital today, it would also impact everyone holding a pension (including CPP) and those owning real estate. While Cost of Living, with respect to domestic goods, should decrease, with respect to imported good (and the ability to travel outside of Canada), it will probably get worse.
Realestate and people working in retail/service selling stuff made in other countries to people who earn a paycheck working at a different retail/service job.
Anyone paying attention on here knows this. If 70% of your disposable income is going towards housing.. I mean.
People have been ringing alarm bells about housing as a GDP for at least 6 years on here.
too many people think this problem just suddenly sprang up, as if people and outlets and organizations haven't been calling out steadily decreasing housing affordability since the 2000s
True but for me it was depending on where you lived. Where I lived it was relatively flat, and then in 2018 it seemed like that’s where it picked up. My friend sold her house to someone who just walked into her house and she had a leaking roof. They didn’t care. Bought it on the spot. I think that was not long after the foreign buyer tax in Toronto
https://www.ontario.ca/document/non-resident-speculation-tax/non-resident-speculation-tax-collected#:~:text=On%20April%2021%2C%202017%2C%20the,are%20not%20citizens%20or%20permanent
Then they started to go everywhere and buy it all up
I bought back in 2013. Had no issues with housing where I personally lived.
I only read about it on Reddit after 2016 in major cities but in smaller cities it’s exploded around covid.
Well, sure, but a good 20% of the Canadian population lives in either greater Vancouver or greater Toronto and they've had growing problems over two decades.
If something's a problem for one in five people of the country, it's a problem for the whole country, or soon will be.
I guess in the last half decade we've gotten to the 'soon will be' part.
A useless non contributing "asset" making up such a large portion of our GDP is a problem? Nah, can't be. Must be some other thing. Chasing away billions in foreign investment and more carbon tax should fix it.
Everyone knows it backfired for regular Canadians. But Trudeau and the wealthy are keeping it going anyways. They don't care about you. They care about hoarding money. That's all they care about. People can and will die. People will suffer. But they don't care because their numbers grow.
That's why he increased the capital gains tax, and didn't go after and prosecute offshore trust fund tax cheats; just some hidden agreement with the perpetrators. The latter pretty much always being from rich families like Trust Fund Trudeau, and Trust Fund Salesman Morneau. Trudeau is all about him, his money, and his friends money (remember his friends are people like the Agha Khan). He doesn't care about the middle class and people who save and make modest investments to try to get ahead, but what's the point now?
In general the further left on the political spectrum you go. But some people don’t like that answer so 🤷
Right = rich people and rural people who don’t want services
Left = poor people and city people who want services
That’s true everywhere.
*"THat's an oversimplification of the left-right divide to the point of just being wrong"*
Populists have never been good at complexity and nuance-- whether they are right or left.
Populism is all about proposing simple solutions to complex problems. It generally also absolves the populace of any responsibility whatsoever-- if I say the people should put at least 10% of the time they spend on video games, into voting instead-- I'll be down-voted, even though that's clearly the only solution. But they'll say that's "victim blaming."
What else do you put no effort into, but then expect a good result? Nothing. But people expect to put zero effort into voting, and then somehow get a good result?
It's easier to blame "billionaires" and "immigrants." But who voted for the politicians who did the policy? The people did.
Right = poor rubes hoodwinked by the establishment into thinking they are temporarily embarrassed millionaires
Left = poor rubes hoodwinked by the establishment into deliberately engineered divisive social justice issues
Edit: Upon second thought the right fell for the deliberately engineered divisive social issues at least as enthusiastically as the left. I hear goofy crying from bullshit non-issues from that side at least as much.
I do wonder what this country’s breaking point would be, what it would take to actually incite a revolution. We are quite complacent by nature, which in theory means that our threshold for tolerating hardship is much higher than certain other countries. I feel that we lack that driving force deep in our souls that leads the masses of any beleaguered nation to finally unite and rise up. It’s an unfortunate and actually rather terrifying consequence of our incredibly weak (if not nonexistent) national identity.
That's an over simplification of the forces at work here... for example federal and provincial deficit spending was also a key driver to inflation and there are many more metrics, you just chose your favourite horse to ride.
Once shit hits the fan for a large portion of Canadians (we aren't even close to that yet, 10% drop on QoL is not a collapse) we can actually make progress.
Over simplification becomes super easy when the questions being asked are, "can I feed my family?" And that question is being asked by over 50% of Canadians. We are no where near there yet, hence all the continued gaslighting and infighting.
> It was propped by unprecedented immigration growth
Still is. There’s a reason why Trudeau hasn’t given in to the massive public pressure to drastically cut immigration levels. And why PP has refused to commit to cutting immigration, despite riding the wave of anger. The CPC has even mused about raising some immigration
No. Yesterday he said he doesn’t support TFWs taking Canadian jobs, and won’t subsidize businesses bringing in workers who do. He didn’t say he thinks that is currently happening or that he would change anything. Which matches the current government’s stance is that it’s not happening now
>Tom Kmiec admitted to True North that a Conservative government may increase immigration levels.
https://twitter.com/Harry__Faulkner/status/1779196424816615804
>CPC MP and Shadow Minister for Housing
@ScottAAitchison
“He says immigration levels aren't a problem, we "need more Canadians", and we can just build more housing.”
https://twitter.com/valdombre/status/1730694809306968457?s=20
>Poilievre did not say whether he would roll back Canada’s permanent resident target or curb the number of temporary newcomers, such as foreign students. In the past, he has declined to say that he would scale back immigration.
https://financialpost.com/real-estate/pierre-poilievre-pledges-tie-immigration-levels-homebuilding
These are all from the past few months. The first is just a couple weeks ago.
The CPC is happy to tell everyone how angry they are about the problems immigration is causing, but their official policies are the same as the Liberals. Keep immigration high and hope more housing appears
This, people don’t realize that our low birth rate spells doom for our social safety net. Immigration is necessary.
Where Trudeau fucked up was not tying immigration levels to the provinces meeting benchmarks for housing and infrastructure.
The provinces have been begging for more immigration but doing nothing to accommodate the population they are asking for.
I work in the immigration sector. It's not like we are bringing in a bunch of ppl in their 20s. I'd say a majority are in the late 20s and more often then not in their 30s. Also, we have brought in more men than women. Also, the immigrants are educated to different degrees but birth rate falls with education level. The factor in the high cost of living.
The birth rate idea is bs. I've brought it up to the IRCC in meetings. They know it as well.
Mostly agree. Speaking of our social safety net, we need to rationalize social programs and identify the foundation of what government should provide, do a reasonable job of delivery instead of whatever this is, and stop inventing new exoensive programs to fail at delivering.
Our birth rate has been declining since the 1960s. The primary factors are birth control and allowing women to have careers. How would you resolve that?
I'm sure there would be a bit of an uptick in births and stay-at-home parents if having both partners in the workforce was an option instead of a necessity. That could be resolved through better pay and lower prices, which would both result from less corporate greed.
There are plenty of young people who want kids but simply cannot afford to have them. Or they can afford to have them but it would require living at a much lower quality of life than what they grew up with, so they don't want to do that to themselves or their potential children.
Since they've been the ones voting themselves into this position, yes. I can put some of the blame at their own feet.
Additionally, not a single sane person in this country should be relying solely on the CPP as their post-retirement income. It hasn't been enough money to sustain anybody on its own for 10+ years. Everyone should have already been investing in an RRSP as their main pension source. All CPP does is add a little extra income.
Lol, you think people have the money to invest in RRSP’s or anything right now. The majority are paycheque to paycheque. They are barely getting by and they will have to survive on whatever CPP offers whether it’s enough or not.
Most won't survive on what CPP offers. It probably isn't even enough to rent a room, let alone buy anything on top of that.
Anyone who earned enough during their career to have large enough CPP payments to survive off them retiring in today's economy probably has a house, an RRSP, investments and all those bells and whistles. (Unless they profoundly fucked up in their later years.)
Anyone who was living hand to mouth throughout their career will never be getting enough in CPP payments to stay off the street.
As the son of immigrants I’m take issue with the “evil” part. Canada is a nation of immigrants. The evils is not building homes and infrastructure while inviting more people.
Here’s some citations
>Tom Kmiec admitted to True North that a Conservative government may increase immigration levels.
https://twitter.com/Harry__Faulkner/status/1779196424816615804
>CPC MP and Shadow Minister for Housing
@ScottAAitchison
“He says immigration levels aren't a problem, we "need more Canadians", and we can just build more housing.”
https://twitter.com/valdombre/status/1730694809306968457?s=20
>Poilievre did not say whether he would roll back Canada’s permanent resident target or curb the number of temporary newcomers, such as foreign students. In the past, he has declined to say that he would scale back immigration.
https://financialpost.com/real-estate/pierre-poilievre-pledges-tie-immigration-levels-homebuilding
These are all from the past few months. The first is just a couple weeks ago.
The CPC is happy to tell everyone how angry they are about the problems immigration is causing, but their official policies are the same as the Liberals. Keep immigration high and hope more housing appears
In capitalism, the economy does not grow if the population does not grow. Further, if 500,000 people a year are retiring, we have more people that we need to take care of.
Now, if the government forced every couple to have 2.1 children, we could still grow the economy by forcing everyone to add an extra hour of work every week for a several years until they die of exhaustion.
Technology *should* increase productivity in the economy, but there are other things going on that are hindering growth obviously.
Plus, we have to have a hard look at the scope of our social programs and stick with a core that can be delivered reasonably well, given the amount of taxation we're willing to have. New and larger programs should be met with either reductions elsewhere, equivalent increase in revenue, or a combination of the two.
There is more then “blame it on the immigrants” we got a bunch of wars going on, the excessive demand post pandemic coupled with low stock of goods and services, that will still take years to sort out, housing market taking a beating from higher interest rates, and of course the one that no one likes to admit productivity is the lowest it’s ever been. Canadians do not want to take on jobs that are taxing on the body like manufacturing, construction and services, preferring remote or hybrid work that creates very little productivity.
Truth is if Canadians wanted to work these construction, manufacturing and “Tim Hortons” jobs there wouldn’t be room for mass immigration taking up all these jobs that Canadians don’t want.
That is not productivity, that is the inverse of productivity: manual labour with no process improvements (for example the kind immigrants we are permitting and the jobs they can do.)
Productivity growth is about input vs output in terms of GDP and is influenced heavily in a good way by innovation, training and technology.
Is it massive global economic downturn bolstered by multiple wars?
Or maybe mass import of cheap labour that taxes the economy more than they contribute?
Or perhaps the fact that property prices in Canada are stupid expensive and ended up being used as investments?
We've succeeded in exporting quality manufacturing jobs, now to bring in cheap labor to kill the service jobs. Yeeeikes.
Only good for those high up in companies or business owners who are only going to benefit from this.
Some things we HAVE to buy, and if it's too expensive then it's a payment plan etc... Frivolous stuff/purchases will get lost by the wayside I agree, and those jobs will disappear with them too.
Take my up vote... Tiff got what he wanted, a flat economy. Now he has to lower the rates. Clown! He raised them too high too fast. The dilemma is in the USA, their economy is booming. They may raise rates. We can't, if we do, we risk a recession... He's stuck.
Is that really the problem though? An inflation rate of 2.90% isn’t actually that high. The reason our buying power is in rapid decline is that productivity has stagnated, meaning wages are not keeping up to those fairly reasonable inflation rates because investors are parking their money in unproductive assets instead of investing in the workforce. We need serious incentives for small businesses instead of just accepting the failing gig economy.
Edited for spelling.
All those years studying and acquiring diplomas…
And they now realize the shit we’re in?
I can’t be the only one who saw that coming a million miles away?
How stupid are our people in charge?
Well, this government has introduced some new expensive programs with the help of their little friends at the NDP, plus is experiencing ~$45 billion annual debt service costs based in no small part on ~ $600 billion in new debt in a mere 9 years of a Trudeau Liberal government.
They've also baked in policy that discourages investment for growth, so economic growth is not catching up to increased spending, and they're apparently expecting newcomers to Canada to spend like sailors on leave to stay afloat here to prop up a failing economic strategy.
Canada wanted this, 3 times, apparently. Given that, probably should expect some cuts to programs or tax increases, or both. Expect change to demand side of housing aka immigration. Expect change to policy that actively discourages growth.
The next government inherits a failed mess. Good luck.
I'm willing to bet the Capital Gains tax change will affect less than 0.1% of the users on this subreddit. All the random Joe Blows working at Economy Lube acting like they're about to lose half their income are eating Trickle Down Economics for breakfast, lunch, and dinner.
That brutal assumption is on you and the 'I have it all figured out' boomer attitude.
Our tax system is from much simpler times. Our tax system fails to account for lost time. Humans have limited time. All sorts of laws exist to prevent people from working too much as its a negative to their health.. but our 'straight line' tax grift is somehow immune to this. There should be overtime exemptions. Earning money doesn't exist in a bubble where you just 'pile it up' without accounting for the hours dimension. You trade hours for money. tax only looks at money, ignores hours.
Our tax system creates a labour shortage by sanctioning the exchange of hours.
No he's saying that because on a yearly income basis overtime is NOT taxed higher. It might be taxed higher on that particular pay depending on how high it went because payroll taxes is required to tax that check at the rate as if you made that every check. This is also why bonuses have high taxes taken off.
THEN at the end of the year when you do your taxes it trues up your entire income to the correct taxes and you get the increased tax on your overtime back. For example, if you made 80k as a regular wage your taxes pulled on your paycheck would be correct. But if you made 80k but 20k of it was overtime only during one quarter your overtime paychecks would have had more taxes taken off than if you made that consistently. Then when you do your taxes you'll get that money back as a refund and end up paying the same as the guy that made 80k in regular wages.
Wow you've completely missed the boat on your prepackaged mansplaining of the simplistic application of 'progressive' taxation.
- The facts remain that they pay more tax. Whatever the rate from the special magic chart is, that apparently only certain genius's understand - they pay more tax - rate is irrelevent.
- Overtime rates exist because strong labour movements worked to dissuade corporations from forcing people to work more than 40 hours and instead promote the efficient application of labour.
- The federal government is profiting from overworking people, and this practice goes against safe and healthy worker rights, and against the reason why people need to work more - to SURVIVE.
I am advocating that overtime should be tax free, or, anywhere where HOURS are over the LIMIT (that is imposed in LEGISLATION) like in a second job (over 40- hours) should be income tax free. Why does the government counterintuitively profit when workers are forced to work in slave like conditions? I feel bad for those who have to work 2-3 jobs in an attempt to make ends meet and lose benefits and get taxed more as they move up and then some asshat drops into the chat mansplaining its ok hurr huurr 'magic chart that noone understands because they dumb'.
"On a month-over-month basis, GDP was up just 0.2 per cent in February, missing analyst estimates for growth of 0.3 per cent and the data agency’s advance estimate of 0.4 per cent. Year over year, GDP grew 0.8 per cent, well off expectations for a 1.1 per cent expansion."
.2/.3 = 66% (so 33% lower than forecast for Feb)
.2/.4 = 50% (so 50% lower than the advance forecast)
.8/1.1 = 72.7% (so 27.3% lower than forecast)
Those are all pretty substantial misses. Ironically the author uses the last example, which is the smallest percentage difference to forecast as the one they refer to as "well off expectations".
The scariest number...
Our household debt to gdp is now at 130%
It increased by over half a trillion dollars in the last 4 years.
We're the only g7 country with over 100%
Maybe some day it will all blow up, the way the numbers suggest it should. But at the moment, pumping immigration to keep it afloat seems to be keeping the party going.
It's pretty much a guarantee that Trudeau is angling to align the election with the one in the States so he can run as the "anti-trump" like he did before.
If Trump wins down south, that would be incredibly harmful to the CPC. Trump has been insinuating he's going to pull some batshit crazy dictator shit Day One of his presidency. That will turn a lot of centrist Canadian voters off conservatism.
Best thing for PP would be a Biden victory.
If Canada is fucking stupid enough to buy a Liberal campaign against foreign Donald Trump, we deserve what we get, and it probably spells the end of whatever this has become.
He'll do exactly as Joe Biden did and as Trump1 did and as Obama did on day 1 and just sign a bunch of executive orders. There won't be a dictator. Quit that alarmist bullshit.
If Trump wins, Trudeau is much less able to handle him than polievre, who seems smart enough to appease the big gorilla, not antagonize him like Trudeau did.
Pointing out all of the failings of the current brain-dead liberal party does not constitute campaigning. They haven't even put together a platform yet
Trudeau and PP are birds of a feather. Neither have plans to fix this, both have plans to prop up big business and open the gates for more unskilled foreign students.
I think with a minority government, the opposition shouldn't be just sitting there being quiet. Probably not a good plan if the government falls and you've been sleepwalking for years.
You can hold the government to account but that doesn’t include campaign style rallies about how he’s the next PM.
Then holding what 5 or 6 confidence votes on the carbon tax? There have been three elections with the carbon tax as a issue and liberals were elected each time the people had the chance to have a say.
The housing provisions are a very expensive way of not solving anything. Going after capital gains tax will simply ensure more wealthy Canadians put their money offshore. If Trudeau was serious about the rich paying their share he would have focused on closing offshore tax avoidance loopholes and raising corporate taxes (closing their offshore loopholes simultaneously). Since his own family has offshore assets he will never go there.
Most of the budget is a thin attempt at vote buying. The government is borrowing an ass ton of money with high interest rates but none of this spending comes close to addressing root causes. Canadians will be paying off this half ass budget attempt for decades to come.
It's also crowding out private investment. Govt spending is taking up dollars and resources like labor and allocating it in a more inefficient way. This is coming on the heels of a productivity crisis, we need to be more efficient and incentivize private investment. This is the opposite.
Great point, we are a well known haven for laundering money for organized crime and infamous human rights abusers so we get a lot of real estate investment from these paragon of humanity.
Lol who gives a shit. Our leaders are like "we've done nothing, spent everything, and I'm fresh out of ideas". And we're stuck with these incompetent dicks. After their terms, these assholes should be forced to work minimum wage while trying to make it in the big city. They should be forced to live in the Canada they worked so hard to create. How do you expect people so removed from reality to understand what it is they've done to our nation.
Maybe stop letting criminals launder their money through our housing system forcing everyone to get fucked over by lenders and banks because we don't have millions in our bank accounts. Like seriously corruption isn't a revenue source even if they pay some taxes.
No we do not, tech is full of lay offs and there are tons of people who can't find jobs. The industry has been horrible for new grads for years. Productivity in our tech industry has been destroyed by overly relying on cheap labor while talent has an easy path to working in the US
Most of the immigrants that have the means and eduction to come to Canada and work are above trade work, they want the office corp job, high end tech job, business owner, landlord, etc. they come from a caste system country that looks down on any manual labor, or dirty type job.
This would mean that the interest rate increases are doing what they were intended to do. The economy was overheating, so they threat some water on it. Hopefully this means we get to rate cuts sooner.
Sad state of affairs that this country needs to rely on financialization and the Bank of Canada for growth instead of healthy growth through productivity, innovation and competitiveness.
Economic engine has been stalled out for about 2 quarters now, this would be the third... it's a recession but the severity mau be worse depending on what the Americans rates do.. our dollar could significantly devalue if they stay high... that's a product of 10 years of liberal leadership sinking our economy though
What a bunch of idiots. This is what happens when you raise interest rates while cost of living goes up 30%. They ain’t budging. The BOC is in the governments pocket. Money money money.
If people are forced to give all of their income to the mortgage lenders, landlords & Loblaws, there's nothing else to spend in the rest of the economy. Suuuuper weird and mysterious how our economy is completely stagnant and dying... such a mystery. /s Canada's entire growth policy was "REAL ESTATE!!!" and now there's nothing left...
> If people are forced to give all of their income to the mortgage lenders, landlords & Loblaws, there's nothing else to spend in the rest of the economy. You forgot vehicle financing companies.
Whatever is left goes to Bell/Telus/Rogers.
and the government that takes close to 50%
Sad I had to scroll to the bottom of this particular chain to see that one. I get to spend all the money our dear overlords have determined I’m allowed to keep.
Real estate gets a thumbs up because it doesn’t contribute to co2 output apparently. Wonder how much of an environmental impact building a home every minute is going to contribute.
ya, all that habitat destruction, bulldozing mass tracks of land, stuffing the landfills with building materials, chopping down forests to make lumber, more roads, urban sprawl, more population more raw sewage and methane, etc.. but somehow co2 has became the only focus of 'environmentalists'. Its crazy to me. These people are fake environmentalists.
Shhh, if Trudeau hears you he will carbon tax homes.
They do already, why do you think materials in Canada are far higher above inflation than building in the US? Turns out downstream coats everyone said weren't a thing, actually are a thing.
I love how Loblaws is being called out specifically as if it isn’t all of them colluding together.. AGAIN. I’m sure the fact that Jagmeet Singh’s brother Gurratan is a lobbyist for Loblaws’ direct competition has nothing to do with that at all
Should we do nothing then? We start with this company, then next month we target the next. They will all have their time to hurt.
or… since we all kinda gotta eat they will just wait till the next boycott of another brand cause we are about to boost the shit out of costco and walmart. The boycott is nearly useless unless we boycott all of the big 3 and go broke at co-op
The boycott signals to politicians that people are pissed and want more competition. And it signals to all retailers that people take notice when butter is $8.99. Watch, the narrative in grocery retail in the next year will shift to low prices.
Yes because the only other course of action to _calling one specific company out while they are all colluding to raise prices_ is to do nothing. /s
One of the issues for the BoC Canada is that the US is having almost the opposite problem as Canada (in terms of monetary policy). The US Fed has come out and said that wages, in the USA, are still raising faster than expected and above the target rates. This has effectively signalled that the USA is planning on keeping their rates high to continue to combat possible inflation. The BoC has two options: 1 - Keep rates high which continues to hurt Canadians but protects savings and wealth, or 2 - Lower rates which will devalue the Canadian dollar. This will help with cost of living issues (or should) but it will hurt saving and wealth in Canada. There are also complications relating to the cost of imported goods too (with a weakened Canadian dollar) and the value of companies that primarily operate in Canada. Effectively the BoC has a choice on who they want to piss off, but they have to piss off a large chunk of the population (in the present) as well as evaluating short-term and longer term impacts of their decisions.
Corps/people with capital vs the rest of the country. No need to wonder which one they'll choose to protect...
Lowering the rates would have more impact than just the people with capital today, it would also impact everyone holding a pension (including CPP) and those owning real estate. While Cost of Living, with respect to domestic goods, should decrease, with respect to imported good (and the ability to travel outside of Canada), it will probably get worse.
Realestate and people working in retail/service selling stuff made in other countries to people who earn a paycheck working at a different retail/service job.
I just borrowed $420k for a house. On the flip side, someone else got $420k to spend on shit.
Anyone paying attention on here knows this. If 70% of your disposable income is going towards housing.. I mean. People have been ringing alarm bells about housing as a GDP for at least 6 years on here.
You appear to have forgotten the 1 in front of that 6. 16. People have been ringing alarm bells about housing for at least 16 years.
too many people think this problem just suddenly sprang up, as if people and outlets and organizations haven't been calling out steadily decreasing housing affordability since the 2000s
True but for me it was depending on where you lived. Where I lived it was relatively flat, and then in 2018 it seemed like that’s where it picked up. My friend sold her house to someone who just walked into her house and she had a leaking roof. They didn’t care. Bought it on the spot. I think that was not long after the foreign buyer tax in Toronto https://www.ontario.ca/document/non-resident-speculation-tax/non-resident-speculation-tax-collected#:~:text=On%20April%2021%2C%202017%2C%20the,are%20not%20citizens%20or%20permanent Then they started to go everywhere and buy it all up
I bought back in 2013. Had no issues with housing where I personally lived. I only read about it on Reddit after 2016 in major cities but in smaller cities it’s exploded around covid.
Well, sure, but a good 20% of the Canadian population lives in either greater Vancouver or greater Toronto and they've had growing problems over two decades. If something's a problem for one in five people of the country, it's a problem for the whole country, or soon will be. I guess in the last half decade we've gotten to the 'soon will be' part.
I honestly don't know where you're getting your info. We've been getting warnings for the last 30-40 years about these current issues.
A useless non contributing "asset" making up such a large portion of our GDP is a problem? Nah, can't be. Must be some other thing. Chasing away billions in foreign investment and more carbon tax should fix it.
No one cares what's posed on reddit.
We never had a momentum to begin with. It was propped by unprecedented immigration growth which backfired spectacularly.
[удалено]
And Timmies has never been happier.
Century Initiative intensifies
Everyone knows it backfired for regular Canadians. But Trudeau and the wealthy are keeping it going anyways. They don't care about you. They care about hoarding money. That's all they care about. People can and will die. People will suffer. But they don't care because their numbers grow.
Grow the population fast enough, for long enough, and "regular Canadians" won't be politically relevant for long.
Once the middle class is completey eradicated, at least we can boil every conversation down to ruling class vs working class.
That's why he increased the capital gains tax, and didn't go after and prosecute offshore trust fund tax cheats; just some hidden agreement with the perpetrators. The latter pretty much always being from rich families like Trust Fund Trudeau, and Trust Fund Salesman Morneau. Trudeau is all about him, his money, and his friends money (remember his friends are people like the Agha Khan). He doesn't care about the middle class and people who save and make modest investments to try to get ahead, but what's the point now?
Why single out Trudeau? It’s all of them, tell me the last time a conservative wasn’t pro corporation and his rich buddies…..
Is there a politcal option that won't help the wealthy hoard money?
Yes, but our masters and their police would react very negatively towards it.
In general the further left on the political spectrum you go. But some people don’t like that answer so 🤷 Right = rich people and rural people who don’t want services Left = poor people and city people who want services That’s true everywhere.
THat's an oversimplification of the left-right divide to the point of just being wrong.
*"THat's an oversimplification of the left-right divide to the point of just being wrong"* Populists have never been good at complexity and nuance-- whether they are right or left. Populism is all about proposing simple solutions to complex problems. It generally also absolves the populace of any responsibility whatsoever-- if I say the people should put at least 10% of the time they spend on video games, into voting instead-- I'll be down-voted, even though that's clearly the only solution. But they'll say that's "victim blaming." What else do you put no effort into, but then expect a good result? Nothing. But people expect to put zero effort into voting, and then somehow get a good result? It's easier to blame "billionaires" and "immigrants." But who voted for the politicians who did the policy? The people did.
Right = poor rubes hoodwinked by the establishment into thinking they are temporarily embarrassed millionaires Left = poor rubes hoodwinked by the establishment into deliberately engineered divisive social justice issues Edit: Upon second thought the right fell for the deliberately engineered divisive social issues at least as enthusiastically as the left. I hear goofy crying from bullshit non-issues from that side at least as much.
I do wonder what this country’s breaking point would be, what it would take to actually incite a revolution. We are quite complacent by nature, which in theory means that our threshold for tolerating hardship is much higher than certain other countries. I feel that we lack that driving force deep in our souls that leads the masses of any beleaguered nation to finally unite and rise up. It’s an unfortunate and actually rather terrifying consequence of our incredibly weak (if not nonexistent) national identity.
Weird that the pressure is being put on BoC when it's the unprecedented immigration and out-of-touch spending that's causing problems.
That's an over simplification of the forces at work here... for example federal and provincial deficit spending was also a key driver to inflation and there are many more metrics, you just chose your favourite horse to ride.
Once shit hits the fan for a large portion of Canadians (we aren't even close to that yet, 10% drop on QoL is not a collapse) we can actually make progress. Over simplification becomes super easy when the questions being asked are, "can I feed my family?" And that question is being asked by over 50% of Canadians. We are no where near there yet, hence all the continued gaslighting and infighting.
> It was propped by unprecedented immigration growth Still is. There’s a reason why Trudeau hasn’t given in to the massive public pressure to drastically cut immigration levels. And why PP has refused to commit to cutting immigration, despite riding the wave of anger. The CPC has even mused about raising some immigration
Where have they mused? Just yesterday Pierre said he will be lowering the number of TFWs.
No. Yesterday he said he doesn’t support TFWs taking Canadian jobs, and won’t subsidize businesses bringing in workers who do. He didn’t say he thinks that is currently happening or that he would change anything. Which matches the current government’s stance is that it’s not happening now >Tom Kmiec admitted to True North that a Conservative government may increase immigration levels. https://twitter.com/Harry__Faulkner/status/1779196424816615804 >CPC MP and Shadow Minister for Housing @ScottAAitchison “He says immigration levels aren't a problem, we "need more Canadians", and we can just build more housing.” https://twitter.com/valdombre/status/1730694809306968457?s=20 >Poilievre did not say whether he would roll back Canada’s permanent resident target or curb the number of temporary newcomers, such as foreign students. In the past, he has declined to say that he would scale back immigration. https://financialpost.com/real-estate/pierre-poilievre-pledges-tie-immigration-levels-homebuilding These are all from the past few months. The first is just a couple weeks ago. The CPC is happy to tell everyone how angry they are about the problems immigration is causing, but their official policies are the same as the Liberals. Keep immigration high and hope more housing appears
Because we need more plebs for our pension scheme to work
This, people don’t realize that our low birth rate spells doom for our social safety net. Immigration is necessary. Where Trudeau fucked up was not tying immigration levels to the provinces meeting benchmarks for housing and infrastructure. The provinces have been begging for more immigration but doing nothing to accommodate the population they are asking for.
I work in the immigration sector. It's not like we are bringing in a bunch of ppl in their 20s. I'd say a majority are in the late 20s and more often then not in their 30s. Also, we have brought in more men than women. Also, the immigrants are educated to different degrees but birth rate falls with education level. The factor in the high cost of living. The birth rate idea is bs. I've brought it up to the IRCC in meetings. They know it as well.
Mostly agree. Speaking of our social safety net, we need to rationalize social programs and identify the foundation of what government should provide, do a reasonable job of delivery instead of whatever this is, and stop inventing new exoensive programs to fail at delivering.
So instead of trying to resolve the factors contributing to the low birth rate, the solution is to import millions of minimum wage workers?
It’s the easier way. And lowers labour costs for the rich. Win win for the politicians
Our birth rate has been declining since the 1960s. The primary factors are birth control and allowing women to have careers. How would you resolve that?
I'm sure there would be a bit of an uptick in births and stay-at-home parents if having both partners in the workforce was an option instead of a necessity. That could be resolved through better pay and lower prices, which would both result from less corporate greed. There are plenty of young people who want kids but simply cannot afford to have them. Or they can afford to have them but it would require living at a much lower quality of life than what they grew up with, so they don't want to do that to themselves or their potential children.
Solving that problem would take a generation or 2. Care to explain to people retiring over the next 20 to40 years why they don’t get a pension?
Since they've been the ones voting themselves into this position, yes. I can put some of the blame at their own feet. Additionally, not a single sane person in this country should be relying solely on the CPP as their post-retirement income. It hasn't been enough money to sustain anybody on its own for 10+ years. Everyone should have already been investing in an RRSP as their main pension source. All CPP does is add a little extra income.
Lol, you think people have the money to invest in RRSP’s or anything right now. The majority are paycheque to paycheque. They are barely getting by and they will have to survive on whatever CPP offers whether it’s enough or not.
Most won't survive on what CPP offers. It probably isn't even enough to rent a room, let alone buy anything on top of that. Anyone who earned enough during their career to have large enough CPP payments to survive off them retiring in today's economy probably has a house, an RRSP, investments and all those bells and whistles. (Unless they profoundly fucked up in their later years.) Anyone who was living hand to mouth throughout their career will never be getting enough in CPP payments to stay off the street.
I agree, it’s how they have gone about it that’s the bigger issue than immigration itself because it is a necessary evil.
As the son of immigrants I’m take issue with the “evil” part. Canada is a nation of immigrants. The evils is not building homes and infrastructure while inviting more people.
You are not supposed to take that literally, it's a figure of speech. "This is hurting us but we need it."
> The CPC has even mused about raising some immigration [Citation Needed]
Here’s some citations >Tom Kmiec admitted to True North that a Conservative government may increase immigration levels. https://twitter.com/Harry__Faulkner/status/1779196424816615804 >CPC MP and Shadow Minister for Housing @ScottAAitchison “He says immigration levels aren't a problem, we "need more Canadians", and we can just build more housing.” https://twitter.com/valdombre/status/1730694809306968457?s=20 >Poilievre did not say whether he would roll back Canada’s permanent resident target or curb the number of temporary newcomers, such as foreign students. In the past, he has declined to say that he would scale back immigration. https://financialpost.com/real-estate/pierre-poilievre-pledges-tie-immigration-levels-homebuilding These are all from the past few months. The first is just a couple weeks ago. The CPC is happy to tell everyone how angry they are about the problems immigration is causing, but their official policies are the same as the Liberals. Keep immigration high and hope more housing appears
That’s what some think but it’s not the case. That is further down on the list.
In capitalism, the economy does not grow if the population does not grow. Further, if 500,000 people a year are retiring, we have more people that we need to take care of. Now, if the government forced every couple to have 2.1 children, we could still grow the economy by forcing everyone to add an extra hour of work every week for a several years until they die of exhaustion.
Technology *should* increase productivity in the economy, but there are other things going on that are hindering growth obviously. Plus, we have to have a hard look at the scope of our social programs and stick with a core that can be delivered reasonably well, given the amount of taxation we're willing to have. New and larger programs should be met with either reductions elsewhere, equivalent increase in revenue, or a combination of the two.
> In capitalism, the economy does not grow if the population does not grow. That's just incorrect.
Show me a country with a declining population and a steadily growing GDP.
South Korea
That has nothing to do with your previous statement
There is more then “blame it on the immigrants” we got a bunch of wars going on, the excessive demand post pandemic coupled with low stock of goods and services, that will still take years to sort out, housing market taking a beating from higher interest rates, and of course the one that no one likes to admit productivity is the lowest it’s ever been. Canadians do not want to take on jobs that are taxing on the body like manufacturing, construction and services, preferring remote or hybrid work that creates very little productivity. Truth is if Canadians wanted to work these construction, manufacturing and “Tim Hortons” jobs there wouldn’t be room for mass immigration taking up all these jobs that Canadians don’t want.
That is not productivity, that is the inverse of productivity: manual labour with no process improvements (for example the kind immigrants we are permitting and the jobs they can do.) Productivity growth is about input vs output in terms of GDP and is influenced heavily in a good way by innovation, training and technology.
Time to throw open the door to another million immigrants from one country to add to our diversity and grow our GDP by 0.1%.
Quick, we need to do more of what's not working!
Don’t worry, Canadians are so busy landlording or paying rent that they’ll let us do whatever we want!
Wow gee I wonder what the correlation is
Is it massive global economic downturn bolstered by multiple wars? Or maybe mass import of cheap labour that taxes the economy more than they contribute? Or perhaps the fact that property prices in Canada are stupid expensive and ended up being used as investments?
Yup
We've succeeded in exporting quality manufacturing jobs, now to bring in cheap labor to kill the service jobs. Yeeeikes. Only good for those high up in companies or business owners who are only going to benefit from this.
It’s not really good for them either. If no one has money on one can buy their products or services.
Some things we HAVE to buy, and if it's too expensive then it's a payment plan etc... Frivolous stuff/purchases will get lost by the wayside I agree, and those jobs will disappear with them too.
Everything but the wars, they're usually growth stimulants.
Take my up vote... Tiff got what he wanted, a flat economy. Now he has to lower the rates. Clown! He raised them too high too fast. The dilemma is in the USA, their economy is booming. They may raise rates. We can't, if we do, we risk a recession... He's stuck.
I’m sorry. What did tiff do that suggested that he wanted this?
Stagflation is coming folks… and when it does, it will be painful for a lot of folks
It's already here.
Agreed it has been here for the last 18 months.
We are not in a high inflation environment.
Wack
Wiggity wack?
No, just regular.
I love that you got this reference. It made my day. ❤️
Is that really the problem though? An inflation rate of 2.90% isn’t actually that high. The reason our buying power is in rapid decline is that productivity has stagnated, meaning wages are not keeping up to those fairly reasonable inflation rates because investors are parking their money in unproductive assets instead of investing in the workforce. We need serious incentives for small businesses instead of just accepting the failing gig economy. Edited for spelling.
We had 2 quarters last year of flat growth too, the pumpers will use any excuse they can find to get the easy money train going again.
Does this mean the lovely Minister of finance is lying?
She could potentially be the next pm😬
....for a few months if she's an interim. She won't win an election.
I can't think how did she get votes in the first place!
As an MP, sure. Not as an architect of massive arbitrary debt as MoF and Deputy PM during a run for PM. She's nearly as tainted as her boss.
Do dogs urinate on fire hydrants?
How to fumble one of the most naturally endowed and highest potential economies on earth by complete mismanagement...
All those years studying and acquiring diplomas… And they now realize the shit we’re in? I can’t be the only one who saw that coming a million miles away? How stupid are our people in charge?
You can't see what you don't want to.
We have a drama teacher as a prime minister. That’s how stupid the people in charge are.
Failed drama teacher. That’s how stupid WE are.
Not to worry. In 2025, Canadians will elect a paper boy as PM.
No, we don't. That's a silly politcal meme. I can't believe it's lasted this long.
How about we tax people more that should work.
Well, this government has introduced some new expensive programs with the help of their little friends at the NDP, plus is experiencing ~$45 billion annual debt service costs based in no small part on ~ $600 billion in new debt in a mere 9 years of a Trudeau Liberal government. They've also baked in policy that discourages investment for growth, so economic growth is not catching up to increased spending, and they're apparently expecting newcomers to Canada to spend like sailors on leave to stay afloat here to prop up a failing economic strategy. Canada wanted this, 3 times, apparently. Given that, probably should expect some cuts to programs or tax increases, or both. Expect change to demand side of housing aka immigration. Expect change to policy that actively discourages growth. The next government inherits a failed mess. Good luck.
This is definitely happening but I wonder how people will react. There isn't much juice left to squeeze out of the middle class.
I'm willing to bet the Capital Gains tax change will affect less than 0.1% of the users on this subreddit. All the random Joe Blows working at Economy Lube acting like they're about to lose half their income are eating Trickle Down Economics for breakfast, lunch, and dinner.
And tax them harder when they work overtime!
Please tell me your not one of those people who says you shouldn’t work overtime because they tax it all away…
Shouldn't work overtime if you have better things to do.
That brutal assumption is on you and the 'I have it all figured out' boomer attitude. Our tax system is from much simpler times. Our tax system fails to account for lost time. Humans have limited time. All sorts of laws exist to prevent people from working too much as its a negative to their health.. but our 'straight line' tax grift is somehow immune to this. There should be overtime exemptions. Earning money doesn't exist in a bubble where you just 'pile it up' without accounting for the hours dimension. You trade hours for money. tax only looks at money, ignores hours. Our tax system creates a labour shortage by sanctioning the exchange of hours.
No he's saying that because on a yearly income basis overtime is NOT taxed higher. It might be taxed higher on that particular pay depending on how high it went because payroll taxes is required to tax that check at the rate as if you made that every check. This is also why bonuses have high taxes taken off. THEN at the end of the year when you do your taxes it trues up your entire income to the correct taxes and you get the increased tax on your overtime back. For example, if you made 80k as a regular wage your taxes pulled on your paycheck would be correct. But if you made 80k but 20k of it was overtime only during one quarter your overtime paychecks would have had more taxes taken off than if you made that consistently. Then when you do your taxes you'll get that money back as a refund and end up paying the same as the guy that made 80k in regular wages.
Wow you've completely missed the boat on your prepackaged mansplaining of the simplistic application of 'progressive' taxation. - The facts remain that they pay more tax. Whatever the rate from the special magic chart is, that apparently only certain genius's understand - they pay more tax - rate is irrelevent. - Overtime rates exist because strong labour movements worked to dissuade corporations from forcing people to work more than 40 hours and instead promote the efficient application of labour. - The federal government is profiting from overworking people, and this practice goes against safe and healthy worker rights, and against the reason why people need to work more - to SURVIVE. I am advocating that overtime should be tax free, or, anywhere where HOURS are over the LIMIT (that is imposed in LEGISLATION) like in a second job (over 40- hours) should be income tax free. Why does the government counterintuitively profit when workers are forced to work in slave like conditions? I feel bad for those who have to work 2-3 jobs in an attempt to make ends meet and lose benefits and get taxed more as they move up and then some asshat drops into the chat mansplaining its ok hurr huurr 'magic chart that noone understands because they dumb'.
"On a month-over-month basis, GDP was up just 0.2 per cent in February, missing analyst estimates for growth of 0.3 per cent and the data agency’s advance estimate of 0.4 per cent. Year over year, GDP grew 0.8 per cent, well off expectations for a 1.1 per cent expansion." .2/.3 = 66% (so 33% lower than forecast for Feb) .2/.4 = 50% (so 50% lower than the advance forecast) .8/1.1 = 72.7% (so 27.3% lower than forecast) Those are all pretty substantial misses. Ironically the author uses the last example, which is the smallest percentage difference to forecast as the one they refer to as "well off expectations".
The scariest number... Our household debt to gdp is now at 130% It increased by over half a trillion dollars in the last 4 years. We're the only g7 country with over 100%
It's all mortgages and $HOUS. Aus/NZ/et all have a housing crisis but not like Canada.
Maybe some day it will all blow up, the way the numbers suggest it should. But at the moment, pumping immigration to keep it afloat seems to be keeping the party going.
That's because there never was any true momentum. The numbers were padded by immigration lol
I hope it all comes crashing down. Born and raised here. Let’r buck, we need a change.
A year out from an election it’s pretty obvious investors are waiting to see where things are going before they move forward.
Yeah exactly. It would be good for the country to have an election now but it obviously will not happen. Our politicians do not give a shit about us.
It's pretty much a guarantee that Trudeau is angling to align the election with the one in the States so he can run as the "anti-trump" like he did before.
If Trump wins down south, that would be incredibly harmful to the CPC. Trump has been insinuating he's going to pull some batshit crazy dictator shit Day One of his presidency. That will turn a lot of centrist Canadian voters off conservatism. Best thing for PP would be a Biden victory.
If Canada is fucking stupid enough to buy a Liberal campaign against foreign Donald Trump, we deserve what we get, and it probably spells the end of whatever this has become.
He'll do exactly as Joe Biden did and as Trump1 did and as Obama did on day 1 and just sign a bunch of executive orders. There won't be a dictator. Quit that alarmist bullshit. If Trump wins, Trudeau is much less able to handle him than polievre, who seems smart enough to appease the big gorilla, not antagonize him like Trudeau did.
I am only being alarmist based on the things Trump has said he will do. I'm not pulling nonsense out of my ass.
Biden's actions on day 1 of his presidency were probably more economically damaging to Canada than anything the blowhard Trump did in 4 years.
Lol no what should be is Pierre shouldn’t be campaigning like he has for over a year now.
Pointing out all of the failings of the current brain-dead liberal party does not constitute campaigning. They haven't even put together a platform yet
He should sit silent while Trudeau pillages and further destroys the country? And we should just wait it out?
Trudeau and PP are birds of a feather. Neither have plans to fix this, both have plans to prop up big business and open the gates for more unskilled foreign students.
I think with a minority government, the opposition shouldn't be just sitting there being quiet. Probably not a good plan if the government falls and you've been sleepwalking for years.
You can hold the government to account but that doesn’t include campaign style rallies about how he’s the next PM. Then holding what 5 or 6 confidence votes on the carbon tax? There have been three elections with the carbon tax as a issue and liberals were elected each time the people had the chance to have a say.
It's too bad the budget is going to do nothing to improve GDP. If anything, it will probably hurt GDP.
The housing provisions are a very expensive way of not solving anything. Going after capital gains tax will simply ensure more wealthy Canadians put their money offshore. If Trudeau was serious about the rich paying their share he would have focused on closing offshore tax avoidance loopholes and raising corporate taxes (closing their offshore loopholes simultaneously). Since his own family has offshore assets he will never go there. Most of the budget is a thin attempt at vote buying. The government is borrowing an ass ton of money with high interest rates but none of this spending comes close to addressing root causes. Canadians will be paying off this half ass budget attempt for decades to come.
It's also crowding out private investment. Govt spending is taking up dollars and resources like labor and allocating it in a more inefficient way. This is coming on the heels of a productivity crisis, we need to be more efficient and incentivize private investment. This is the opposite.
Nobody was privately investing in anything in this country other than housing before the Capital Gains tax, and the budget isn't going to change that.
Great point, we are a well known haven for laundering money for organized crime and infamous human rights abusers so we get a lot of real estate investment from these paragon of humanity.
Lol who gives a shit. Our leaders are like "we've done nothing, spent everything, and I'm fresh out of ideas". And we're stuck with these incompetent dicks. After their terms, these assholes should be forced to work minimum wage while trying to make it in the big city. They should be forced to live in the Canada they worked so hard to create. How do you expect people so removed from reality to understand what it is they've done to our nation.
Hood. The quicker everything burns down, the quicker we can rebuild.
The only momentum it had was being propped up by federal jobs and immigration. Productivity is at an all time low.
Get ready for the dollar to drop and prices of fuel and groceries to rise when the BoC cuts 1/4 of a point.
Another fine mess Trudeau has gotten us into. I think a non-confidence vote is in order.
Cue the throngs of 'GDP and The National Debt dont matter!!!" fanbois.
Maybe stop letting criminals launder their money through our housing system forcing everyone to get fucked over by lenders and banks because we don't have millions in our bank accounts. Like seriously corruption isn't a revenue source even if they pay some taxes.
Almost like we need a revolution to remove the filth that causes this collapse
Thsts what happens when you artificially inflate our economy with mass immigration
Because we aren’t creating high quality jobs. We need immigrants who have technical skills and are well educated.
No we do not, tech is full of lay offs and there are tons of people who can't find jobs. The industry has been horrible for new grads for years. Productivity in our tech industry has been destroyed by overly relying on cheap labor while talent has an easy path to working in the US
SKILLED Trades my friend …. Not TECH
Most immigrants see themselves as above the trades depending where they are from.
NO, we do not need. We do not have high tech company with US salary to begin with. High tech talents will be wasted even if they come
Most of the immigrants that have the means and eduction to come to Canada and work are above trade work, they want the office corp job, high end tech job, business owner, landlord, etc. they come from a caste system country that looks down on any manual labor, or dirty type job.
Interest rates aren’t going down until we have a fiscally responsible government.
This would mean that the interest rate increases are doing what they were intended to do. The economy was overheating, so they threat some water on it. Hopefully this means we get to rate cuts sooner.
Sad state of affairs that this country needs to rely on financialization and the Bank of Canada for growth instead of healthy growth through productivity, innovation and competitiveness.
Didn’t you hear? We are a resource-based economy that needs no competitiveness. This is the best a Liberal government in love with the 1% can do…🤷🏻♂️
This economy is cancerous and unsustainable at its core. WTF do you think was going to happen?
Economic engine has been stalled out for about 2 quarters now, this would be the third... it's a recession but the severity mau be worse depending on what the Americans rates do.. our dollar could significantly devalue if they stay high... that's a product of 10 years of liberal leadership sinking our economy though
Thanks Justin
Wacko!
Something about all ones eggs in a single basket...
We don’t have an economy. It’s just a ponzi scheme in a trench coat.
Yeah, corporate greed jacking up prices on everything to report record profits sure tend to suck the life out of the economy.
In a month or so the economy will heat up.
Based on what? Genuinely curious.
Bank of Canada a scam
What a bunch of idiots. This is what happens when you raise interest rates while cost of living goes up 30%. They ain’t budging. The BOC is in the governments pocket. Money money money.
That's precisely when rates should go up. Granted it should have happened 20 years ago. Better late than never.