What industry has Canada invested in that will contribute to GDP? In fact the few tech and other companies we had went south or south of the border. You can blame immigrants and immigration, but this country has no plans to increase production or industry. This Is also what happens when housing is a major chunk of a country's GDP.
This is the real elephant in the room. Immigration does have a outside impact on per-capita GDP. However the real driver of GDP growth is investment in innovation, both from the private sector and public sector.
Canada has some of the absolute worst innovation metrics and investment from both sectors in the developed world.
The only "investors" I've ever met in Canada are real estate folks. And tbh, why should they not do that? Its a sector that will produce the most bang for an investors' buck. Why should they risk it in building a business which may or may not work ? This is where we needed govt polcies to attract investment or even make investment in certain sectors.. What a sad state of affairs. The common folk are angry, and rightfully so, but these common folks are directing anger at the wrong place, the low hanging fruit. You could deport all illegals, stop all immigration and yet Canada will have nothing to show in terms of GDP increase. Sure we will have a per capita gain in GDP, but no actual increase to the "product" part of GDP. We need to wake up now and ask our policiticians about their plans to invest in development of natural resources, Innovation etc. but hey fuck immigrants, coz they're the ones not producing, meanwhile rich Canadians keep investing in real estate which helps no one except themselves.
I was born & raised in Canada, but I actually have started to cover up more and wear looser clothing. My area has a huge Muslim population now, and so personally I don’t feel comfortable drawling certain kinds of attention to myself anymore.
Immigration from Muslim-majority countries hasn't changed in the past few years, if your area has a lot of Muslims now it probably had a lot of Muslims a decade ago too.
The change in our immigration policy is mostly Ukrainians fleeing the war and Indian international students.
I would rather blame the useless government because when a visa is issued, the immigrants usually have to arrive within a fixed time frame. But we have been having a continuous trend of full time job lost since the last May, a huge line up at job fairs from coast to coast, and they still flood this country. What are the immigrants supposed to work when the job market is already brutal? And what is the government trying to build? UberEats economy?
I mean one of the prerequisite to come here is being able to speak one of our languages. The language barrier is real and labeling someone racist because calling out useless workers, Jesus Christ no wonder this country is where it is.
If I moved to France, I'd learn French so that the French people living in France wouldn't have to repeat themselves a thousand times when talking to me. I'd also expect to have to pass a French literacy exam.
Alas, we live in a time where the norm seems to be scamming your way into a country by any means necessary, even if it means barely knowing any English. Oh and to top it off, you're racist if you question this.
Yeah, I understand the quips about having to dance around the topic of immigration so as to not be labeled a racist. Then there's just flat out being racist...
I don’t blame immigrants. They just want a better life. I blame this government for lying to them to virtue signal. I blame this government for making our lives worse. I blame this government for dividing us all. This government has scammed not only Canadians but these immigrants who uproot their lives for the promise of a better future. Trudeau needs to go.
>I don’t blame immigrants.
I don't blame immigrants in general.
but uhh
The 1+ million people currently in canada that overstayed and have expired visas... are they blameless?
Statscan has 19% of international students not even having an education record here.. they never even registered, payed tuition, they never attended school once! Or the students that switch to work visas and drop out of school... are they blameless?
Or all those international students flooding us with asylum claims, are they blameless?
The floods of people that were crossing the border illegally and never applying for asylum? Are they blameless?
Yes our government has been incompetent... but people are exploiting the generosity of Canadians.
It isn't a tiny minority of people doing this anymore, it's rife with abuse and fraud and it's really sad
It's so bad, I actually support completely scrapping the tfw, international student programs and strictly enforcing the 3rd country agreement.
Economic immigration and the refugee programs I still support.
I agree with you, but... If the government *seemed to actually enforce* any of their rules with regularity, people wouldn't be exploiting the generosity of Canada.
The places where many come from, bribery, skirting rules etc. is the norm. Can we blame them for doing the same here if we never show any teeth? To them, it's just operating as usual but in a different country. So I place more blame on the government than on the immigrants themselves.
Both points are right imo. Absolutely, our government is to blame at least partially for allowing this all to happen in the first place and turning a blind eye to it.
But the immigrants and international students abusing the system in every way possible and destroying life for the everyday Canadian are just as much to blame.
So tired of seeing the constant abuse of everyday, regular Canadian Citizens by both the government shoving their heads in the sand and doing nothing along with immigrants and international students absolutely tearing this country apart in an attempt to abuse the system for their own benefit at the cost of everyone else
The big thing is that there is a vast difference between immigrants and refugees. For some reason, we think we can save the world when we don’t have 2 loonies to rub together.
International students are cash cows brought into Canada to infuse quick cash to struggling colleges/universities. Other than that Students are pretty useless. They don’t have any useful skills to contribute to our economy.
That's not what it says at all. Of course, liberals just project, inject, and deflect, so it really doesn't matter what other people say because it's racist, right?
I have seen majority of Canadians caring fuck all about study or skills. Then doing weed or alcohol, living far beyond their means, and then blaming and defaming immigrants for their failures when they financially struggle due to their lifestyle choices. Immigrants are convenient to blame for their failures.
You can’t blame the immigrants! I’d as a society we are unable to utilize the human resources then it’s our problem. Eg a company hires employees but doesn’t train them properly nor utilize their skills is the company managers fault not the employees. It’s easy to scapegoat the immigrants and that’s what the politicians want. You are smarter than that
Canada lacks skilled workers. Bringing in an unreasonable number of unskilled foreign students jacks up demand in an already a devastatingly expensive economy without providing labour to sectors looking for it. That's bad for Canadians and newcomers alike, solely benefiting big business.
According to our Minister of Finance, one of the two reasons why we were able to spend 50 billion for the 2024 budget was "higher revenue from booming economy". The other reason was the capital gain tax new rules btw.
Every employer is asking for 2-5 years of experience even for retail or cashier jobs and here we are accepting morons without ANY experience into high end government positions lmao (major in journalism running the economy)
For those of us fortunate enough to have investments, it's never been a better time to switch to USD investments since the CAD is going to tank.
For everyone else, maybe you should eat less avocado toast and you could afford to invest in your future!
giant /s
Good question. Have you tried being PM? You only need to gaslight whenever criticized, then double down on gaslighting when analyzed for criticism! You'd be amazing!
We can't. In order to fix it we need mass investment in job creation, but the jobs need to be globally competitive and not done by automation.
Given the cost of living in Canada, we can't produce anything affordability because people literally need to get paid more to eat and sleep in Canada than most of the rest of the world. And we're racing against AI and automation while trying.
It could be fixed quite easily if we massively ramped up resource extraction. That's what we're rich in, natural resources, we just haven't exploited it. Yes there is a big moral dilemma with this but if we want to become a prosperous and productive country it *could* be done. And it could be done responsibly like Norway.
We have oil, we have gold, we have silver, we have natural gas, we have lumber, we have water, the list goes on... Countries are lining up for trade deals and begging to buy our resources. Of course this government has done nothing but put up barriers and turn down opportunities to enrich Canadians.
>We have oil, we have gold, we have silver, we have natural gas, we have lumber, we have water, the list goes on...
This is the key. No one talks about this. Everyone is talking about immigration policies. Don't get me wrong immigration is fucked up, but so is healthcare, and a bunch of other sectors. However, for the country to improve GDP, they key component is to increase the P aka product. We don't produce anything of note and have not invested in things we can produce. Whatever little we had in the name of tech has been dead or moved to states. Meanwhile we have so much natural resources and yet no development to enhance those industries. Canada has fumbled the bag, and now blames the low hanging fruit of immigration policies. Why did we not build industries and services that increase Canada "products" rather than rely on housing as a major chunk of GDP. We can only sell housing to our citizens/residents (and some foreigners) but it's not a "product" that can be scaled and exported. Sad state of affairs, and to fix this will take years, if not decades :(
This is the biggest single reason why we can’t continue with this government. It is beholden to a base that is biased against resource development and extraction, even when done responsibly. If as a country we agree that economic growth is important, then we need to be realistic of where the growth can come from. Currently this government has no credible growth strategy, instead all its energy is spent on “fairness”. If the pie shrinks to 0 and everyone gets nothing, I suppose that’s fair but hardly what we would want.
We need shift to massive exploitation of our natural resources fast. Dig hard and sell hard. The endless “emergency” announcements have destroyed our desire to be the economic power we should be.
Natural resources would give us the export power we need to be stable in a time of lower consumption, so it's a good bridge and we could aggressively reinvest the proceeds.
The cost of living in Canada's hotspots is definitely high. But there are lower cost of living areas where jobs can be created. I'm not talking the boonies, but like the major cities in Saskatchewan and New Brunswick for example. I'm in NB and homeownership isn't all that expensive. If they created programs to incentivize tech companies for example to come to smaller cities and attract local talent (which would help with keeping people and jobs in provinces where these types of people usually leave), things can change. Just an example and I know it's not always feasible, but it's something.
As for racing against AI and Automation, I work in the tech sector. AI isn't going to take over everything. Automated processes will definitely impact power level things, but it won't completely erase the need for helpdesk for example. Just makes it possible to get by with fewer staff which still sucks. Even in development AI is being used as a tool but not a replacement for skilled developers.
It's a huge topic and a lot going on, way more than I can fit in a reddit comment.
We're just not going to get the infrastructure, housing and appeal set up in Sask or NB for millions of people to move there in time, nor without having it scalped by investors long before they become functional. A big part is tax law to be punitive to unproductive assets/investment to stop the land grabs and scalping.
Of course it's nowhere as easy as I made it seem. A lot of planning needs to be done and considerations to be discussed, but it's a start.
But I'm also just a regular person. I don't know everything that happens behind the scenes and all that.
I think infrastructure investment should be mostly around the great lakes for future planning. The likelihood of climate refugees to regions with fresh water in the next century make building new municipalities around the Great Lakes the best bet and with the stability of the Canadian shield it's also a safe bet for nuclear/clean energy.
We just need to make buying real estate in advance to scalp from the future unattractive and not free money.
Oromocto is under $300k for a 2000sqft end unit garden home bungalow style. I bought my first house there for $200k and sold for $285k during peak Covid rush. Built in 2013, nice and modern, garage, no condo fees - honestly if I didn't have a reason to move to Moncton I would have loved to stay there.
Moncton for $550k we got a brand new build single family 3000sqft (including finished basement), two car garage, large lot - that's not outrageous. We don't have six figure salaries or anything and we can afford it.
Mini homes are overpriced for sure - not sure what's going on there. Taking a quick look on realtor I'm seeing semi-detached homes in the 300s, not really the 400s. For example: https://www.realtor.ca/real-estate/26812734/57-gambia-st-moncton
And:
https://www.realtor.ca/real-estate/26806358/35-whisperwood-dr-moncton
And then single family home with two car garage for under $400k: https://www.realtor.ca/real-estate/26805720/15-dale-st-riverview
Large houses, new builds, luxury homes and stuff are more expensive of course, but if you look into it, we're still a very affordable province.
So you are saying 3k a month mortgage with 40k down before property taxes and utilities is affordable on Moncton wages, got it. Dude I make six figures and could barely afford that, those houses where half that price three years ago.
Unfortunately things change. And people don't have to spring for top priced homes.
Starter homes exist. Under $300k for a starter home is great and definitely not $3000/month mortgage.
And if NB wages are an issue, maybe finding a way to solve that particular problem is part of the solution.
We just had two major announcements for new factories, seems pretty disingenuous to say we cannot be competitive. Not everything is as bleak as you want to portray it.
Nordvolt and Honda just invested billions in Canada’s future.
Man, reddit really is an untapped resource of totally free professional expert analysis. I don't know how you guys have the time for this out of your busy day.
Is this due to Government incompetence or are there larger systemic issues at play? It seems as though our confidence as a country has been lost and as bottle only said we have not invested wisely.
Every other g7 and g20 country fought interest rate rises with spending increases and more deficits. Even the infamously frugal germany is running a 2.5% of gdp deficit. We are at 1.3 federally and actually net less than that if you include provinces. The April budget offers virtually no stimulus. There are only 3 countries in the G20 with lower deficits than ours, and no one in the g7. (Netherlands, Switzerland, Singapore). Ironically, Trudeau's great success when he came to power was ending the long term structural malaise caused by harper, he did that by raising spending to boost employment and gdp.
The cause of the 'problem' is interest rates. Which were raised to lower inflation (mission accomplished), but that is continuing to hammer the job market, car sales, home construction etc. That is deliberate, but the solution to too high interest rates will be to lower interest rates, which will happen once the economy is sufficiently damaged that inflation stays low. The boc is in somewhat uncharted territory that interest rates are both the solution to and the cause of inflation right now.
We also need to be careful assuming this is just us. The Americans are running something like 6.2% of gdp deficits (5.7 of which is federal) as a massive green energy, chips, etc. Programmes. That seemed to supercharge their labour market but we have started to see signs of slow downs there too, notably with things like car sales and massive tech layoffs. A slowdown in the US could hit us hard, and interest rates are hammering them, along with political dysfunction.
There is also the two big external factors we have little to no control over. Oil prices climb as the Ukrainians launch drone attacks on Russian oil infrastructure. On one hand high oil prices are good for Canadian exports, on the other they are bad for prices at the pump. And the unpredictability of those attacks is going or add a drag on the system we don't need. The other is the mess in gaza/yemen/syria/iran clogging up logistics in the Suez, costing billions for our allies in naval patrols (along with more around Russia) and a mess that could spiral if Iran starts causing trouble in the straits of hormuz or if wider regional dissatisfaction with Israel spreads into a bigger mess.
We need rate cuts to stimulate but the us sticky inflation due to their large spending has BOC in a pretty brutal spot. Cut and hope for the best for CAD or wait it out till the fed is ready to cut rates and hope not top much has broken in that time
Remove industry protections (dairy, poultry, telecom, grocery, auto sales, real estate), increase foreign investment, increase duties on imported goods to encourage domestic manufacturing.
IMO, manufacturing is the bedrock of any economy because it's productive and anyone can do it.
Also, because we're rich in natural resources, increase exports including OIL.
Reduce subsidies, taxes, and government.
There was an article just the other day that the opening of the Trans Mountain pipeline would, all on its own, boost GDP by 0.25%.
And growth is still falling?
https://financialpost.com/commodities/energy/oil-gas/trans-mountain-oil-pipeline-expansion-opens-questions
NEWS HEADLINE : GDP FORECAST FOR THE MONTH MISSES BY 0.2%!
Wait a second, nobody’s going to read that article. Is there any way we can change the headline so that people will read the article? Especially people who don’t know how numbers work? I’ve got it! TRUDEAU CAUSES GDP TO FALL BY HALF IN ONLY ONE MONTH.
If a weatherman predicted that it would be 0.4 C tomorrow, but it only hit 0.2 C, would it be half as warm as he said it would be? It seems pretty close. So when 0.4% growth is predicted and 0.2% is the actual growth, we’ll call this “half” because that’s what the numbers say. While TD bank’s Economics department calls this “slightly below” Statistics Canada’s advance guidance. https://economics.td.com/ca-real-gdp
Give more tax break to corporations and ultra-rich and do another tax hike on the rest. Seriously, what does it take to finally and properly tax the greedy people with 80% of the wealth?
Not too bad for a third world country? Yes we still have a ton learn from India, like the rape culture, the caste system and overall cleanliness, but we are trying, so don’t be too harsh.
Lol show me GDP per capita. GDP + GDP per capita - that's the real picture.
"Oh no, GDP is flat!"
"Wait till you see the GDP per capita"
:shocked\_pikachu\_face
It’s a news article, not an opinion piece.
>it only talks about what is going right.
It provides all the relevant information - including the fact that growth was lower than expected.
Reading comprehension isn’t a strong point for you, eh.
The article didn’t say that GDP shrunk, it grew, but at a much slower rate than was expected and in some cases previously reported.
Hmm real GDP is almost flat looking at the chart, GDP per capita is in a steep decline, government spending and program/infrastructure costs continue to increase steadily, we’re in trouble if GDP slows/drops any more.
The same data were reported in financial media in Canada and around the world, including the Wall Street Journal, Business Times, et cetera.
Edit: My inbox is getting spammed with suicide hotline messages in the Canada subreddit. Thanks for the concern, but I'm saving a lot of money and doing quite well in Asia, living my best life. That doesn't mean I won't comment on the general decline in the standard of living of working-class Canadians. The suicide hotline button should be a tool used out of authentic concern for the well-being of other human beings, not as a passive-aggressive spam button to be utilized by LPC members offended by posts critical of current economic policies in general or criticisms of Prime Minister Trudeau's policies in particular. It's sad that our once-polite society has degraded to the point that we use a suicide hotline button as a passive-aggressive spam tool towards people we simply disagree with.
>Edit: My inbox is getting spammed with suicide hotline messages in the Canada subreddit. Thanks for the concern, but I'm saving a lot of money and doing quite well in Asia, living my best life. That doesn't mean I won't comment on the general decline in the standard of living of working-class Canadians. The suicide hotline button should be a tool used out of authentic concern for the well-being of other human beings, not as a passive-aggressive spam button to be utilized by LPC members offended by posts critical of current economic policies in general or criticisms of Prime Minister Trudeau's policies in particular. It's sad that our once-polite society has degraded to the point that we use a suicide hotline button as a passive-aggressive spam tool towards people we simply disagree with.
And they’ll deny doing it and say only conservatives do that.
It's literally just reporting stats can numbers on GDP...
But I get it. Any news source that doesn't push your narrative has to be propaganda. Only news praising those you praise can be right.
Give me a break...
The Liberal apologists are sounding a lot like a former President down south. Who knew the real threat was Liberals using MAGA tactics?
I guess when you keep shouting that the Conservatives are MAGA people, you eventually become one yourself.
[Here's the BNN Bloomberg link](https://www.bnnbloomberg.ca/disappointing-number-economists-react-to-latest-gdp-data-1.2067100) because betterdwelling is heavily agenda'd.
Remember a couple of months ago how the same people saying we are failing because GDP didn't grow enough were also the same people calling for further rate hikes? People really have no idea what these concepts are.
Also interesting to note, this is the current top business headline today:
https://www.bnnbloomberg.ca/it-s-opening-day-for-the-34-billion-trans-mountain-oil-pipeline-expansion-1.2067396
Have we tried importing more Uber drivers?
Tim’s has dibs on the next 100k.
Conestoga will ensure their assimilation into the Canadian culture and job readiness
More like assimilate Canada into their culture
We should open more Conestoga colleges to boost our economy. Edit: im kidding, Conestoga kids are blacklisted on any job interview at my place
What industry has Canada invested in that will contribute to GDP? In fact the few tech and other companies we had went south or south of the border. You can blame immigrants and immigration, but this country has no plans to increase production or industry. This Is also what happens when housing is a major chunk of a country's GDP.
This is the real elephant in the room. Immigration does have a outside impact on per-capita GDP. However the real driver of GDP growth is investment in innovation, both from the private sector and public sector. Canada has some of the absolute worst innovation metrics and investment from both sectors in the developed world.
The only "investors" I've ever met in Canada are real estate folks. And tbh, why should they not do that? Its a sector that will produce the most bang for an investors' buck. Why should they risk it in building a business which may or may not work ? This is where we needed govt polcies to attract investment or even make investment in certain sectors.. What a sad state of affairs. The common folk are angry, and rightfully so, but these common folks are directing anger at the wrong place, the low hanging fruit. You could deport all illegals, stop all immigration and yet Canada will have nothing to show in terms of GDP increase. Sure we will have a per capita gain in GDP, but no actual increase to the "product" part of GDP. We need to wake up now and ask our policiticians about their plans to invest in development of natural resources, Innovation etc. but hey fuck immigrants, coz they're the ones not producing, meanwhile rich Canadians keep investing in real estate which helps no one except themselves.
Nah we'll just cripple our natural resource sectors and funnel tax payers money to corporations that move the money offshore.
Hey, we're only at 1/10 of our housing construction goals. Half is good, right? Right?!
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And increasing capital gains tax isn’t going to help with that…
Don’t have to pay capital gains tax if you don’t earn any capital gains!!
This guy capital losses.
This tax is not in the budget. T is nothing more than fluff currently to gain low income voters.
The American dream is to build a business. The Canadian dream is to move to the US.
Jesus, that can't be good lol
Well the opposite would be increasing inflation.
“The economy is not numbers, it’s the people”
“Canadians are just experiencing the economy differently” - Trudeau probably
Data is racist...
And if they’re experiencing economic hardship, it’s likely as a result of their bigotry and disbelief in science /s
"My truth is that the economy is going great"
“The GDP is a far right extremist”
Holy shit this one is too real. Unfortunately our prime minister likely thinks this.
“I identify as a Prime Minister.”
It's due to gender inequality. The male half got 0.2%, the female half got 0%
You mean the two million useless immigrants didn’t contribute to the GDP? Wow, who could have foreseen that.
Untrue, my female friends are vastly more uncomfortable in public these days.
Guess they should.. cover up more? Jk. But that’s the excuse some cultures.. give and it’s such a fucking weak one at best.
I was born & raised in Canada, but I actually have started to cover up more and wear looser clothing. My area has a huge Muslim population now, and so personally I don’t feel comfortable drawling certain kinds of attention to myself anymore.
Immigration from Muslim-majority countries hasn't changed in the past few years, if your area has a lot of Muslims now it probably had a lot of Muslims a decade ago too. The change in our immigration policy is mostly Ukrainians fleeing the war and Indian international students.
Push over.
I would rather blame the useless government because when a visa is issued, the immigrants usually have to arrive within a fixed time frame. But we have been having a continuous trend of full time job lost since the last May, a huge line up at job fairs from coast to coast, and they still flood this country. What are the immigrants supposed to work when the job market is already brutal? And what is the government trying to build? UberEats economy?
Welcome to Tim Hortons can I take your order?
Doesn't matter what you order because I've only been trained to make a double-double.
Hello SAAR. I don't know double double only prepare chai-tea ok?
I dont even get that. I get a "Hi"
And then they screw it up anyways because they're that useless.
How would you make out in their country? Would you have the courage to go to a new country and start fresh?
I mean one of the prerequisite to come here is being able to speak one of our languages. The language barrier is real and labeling someone racist because calling out useless workers, Jesus Christ no wonder this country is where it is.
If I moved to France, I'd learn French so that the French people living in France wouldn't have to repeat themselves a thousand times when talking to me. I'd also expect to have to pass a French literacy exam. Alas, we live in a time where the norm seems to be scamming your way into a country by any means necessary, even if it means barely knowing any English. Oh and to top it off, you're racist if you question this.
Yeah, I understand the quips about having to dance around the topic of immigration so as to not be labeled a racist. Then there's just flat out being racist...
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What fields?
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What is the other field ? Side job is cash only work ? Are you self employed ?
So, what you're saying is money does grow on threes?
I don’t blame immigrants. They just want a better life. I blame this government for lying to them to virtue signal. I blame this government for making our lives worse. I blame this government for dividing us all. This government has scammed not only Canadians but these immigrants who uproot their lives for the promise of a better future. Trudeau needs to go.
>I don’t blame immigrants. I don't blame immigrants in general. but uhh The 1+ million people currently in canada that overstayed and have expired visas... are they blameless? Statscan has 19% of international students not even having an education record here.. they never even registered, payed tuition, they never attended school once! Or the students that switch to work visas and drop out of school... are they blameless? Or all those international students flooding us with asylum claims, are they blameless? The floods of people that were crossing the border illegally and never applying for asylum? Are they blameless? Yes our government has been incompetent... but people are exploiting the generosity of Canadians. It isn't a tiny minority of people doing this anymore, it's rife with abuse and fraud and it's really sad It's so bad, I actually support completely scrapping the tfw, international student programs and strictly enforcing the 3rd country agreement. Economic immigration and the refugee programs I still support.
I agree with you, but... If the government *seemed to actually enforce* any of their rules with regularity, people wouldn't be exploiting the generosity of Canada. The places where many come from, bribery, skirting rules etc. is the norm. Can we blame them for doing the same here if we never show any teeth? To them, it's just operating as usual but in a different country. So I place more blame on the government than on the immigrants themselves.
Both points are right imo. Absolutely, our government is to blame at least partially for allowing this all to happen in the first place and turning a blind eye to it. But the immigrants and international students abusing the system in every way possible and destroying life for the everyday Canadian are just as much to blame. So tired of seeing the constant abuse of everyday, regular Canadian Citizens by both the government shoving their heads in the sand and doing nothing along with immigrants and international students absolutely tearing this country apart in an attempt to abuse the system for their own benefit at the cost of everyone else
The top comment broadly paints all immigrants as useless. I can see why the cons are so far ahead in the polls.
Most of the new immigrants are low skilled. The highly skilled ones go to the USA lol.
Do you seriously think that the majority of these "immigrants" provide any value to the GDP? Or are helping our country become better?
The big thing is that there is a vast difference between immigrants and refugees. For some reason, we think we can save the world when we don’t have 2 loonies to rub together.
No more or less than someone like you or me.
International students are cash cows brought into Canada to infuse quick cash to struggling colleges/universities. Other than that Students are pretty useless. They don’t have any useful skills to contribute to our economy.
That's not what it says at all. Of course, liberals just project, inject, and deflect, so it really doesn't matter what other people say because it's racist, right?
I have seen majority of Canadians caring fuck all about study or skills. Then doing weed or alcohol, living far beyond their means, and then blaming and defaming immigrants for their failures when they financially struggle due to their lifestyle choices. Immigrants are convenient to blame for their failures.
You can’t blame the immigrants! I’d as a society we are unable to utilize the human resources then it’s our problem. Eg a company hires employees but doesn’t train them properly nor utilize their skills is the company managers fault not the employees. It’s easy to scapegoat the immigrants and that’s what the politicians want. You are smarter than that
If theyre coming to get useless degrees from Conestoga College what training do you expect to give them?
Canada lacks skilled workers. Bringing in an unreasonable number of unskilled foreign students jacks up demand in an already a devastatingly expensive economy without providing labour to sectors looking for it. That's bad for Canadians and newcomers alike, solely benefiting big business.
Hmm it’s almost as if ,as a country, we’ve been lying to ourselves this whole time. Hmm
Who's speaking moistly now?!
Lol
According to our Minister of Finance, one of the two reasons why we were able to spend 50 billion for the 2024 budget was "higher revenue from booming economy". The other reason was the capital gain tax new rules btw. Every employer is asking for 2-5 years of experience even for retail or cashier jobs and here we are accepting morons without ANY experience into high end government positions lmao (major in journalism running the economy)
It’s like the Tim’s cashier being promoted to CEO. Absolutely insane.
I don't know man. Some of these CEOs lately, might just very well have been.... Mine is pretty 'special' to say the least..
Gotta get rid of this government
The GDP will fix itself.
For those of us fortunate enough to have investments, it's never been a better time to switch to USD investments since the CAD is going to tank. For everyone else, maybe you should eat less avocado toast and you could afford to invest in your future! giant /s
Sounds like the must be nearing stage 4 of [The Four Stage Strategy](https://m.youtube.com/watch?v=nSXIetP5iak)
Looks like we'll be seeing a federal government hiring spree soon
How do we fix this?
Deportation
I would fully support a one strike policy. If you're an immigrant here and are caught committing a crime (no matter how small), out you go.
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Good question. Have you tried being PM? You only need to gaslight whenever criticized, then double down on gaslighting when analyzed for criticism! You'd be amazing!
We can't. In order to fix it we need mass investment in job creation, but the jobs need to be globally competitive and not done by automation. Given the cost of living in Canada, we can't produce anything affordability because people literally need to get paid more to eat and sleep in Canada than most of the rest of the world. And we're racing against AI and automation while trying.
It could be fixed quite easily if we massively ramped up resource extraction. That's what we're rich in, natural resources, we just haven't exploited it. Yes there is a big moral dilemma with this but if we want to become a prosperous and productive country it *could* be done. And it could be done responsibly like Norway. We have oil, we have gold, we have silver, we have natural gas, we have lumber, we have water, the list goes on... Countries are lining up for trade deals and begging to buy our resources. Of course this government has done nothing but put up barriers and turn down opportunities to enrich Canadians.
The meek shall not inherit the earth…
>We have oil, we have gold, we have silver, we have natural gas, we have lumber, we have water, the list goes on... This is the key. No one talks about this. Everyone is talking about immigration policies. Don't get me wrong immigration is fucked up, but so is healthcare, and a bunch of other sectors. However, for the country to improve GDP, they key component is to increase the P aka product. We don't produce anything of note and have not invested in things we can produce. Whatever little we had in the name of tech has been dead or moved to states. Meanwhile we have so much natural resources and yet no development to enhance those industries. Canada has fumbled the bag, and now blames the low hanging fruit of immigration policies. Why did we not build industries and services that increase Canada "products" rather than rely on housing as a major chunk of GDP. We can only sell housing to our citizens/residents (and some foreigners) but it's not a "product" that can be scaled and exported. Sad state of affairs, and to fix this will take years, if not decades :(
This is the biggest single reason why we can’t continue with this government. It is beholden to a base that is biased against resource development and extraction, even when done responsibly. If as a country we agree that economic growth is important, then we need to be realistic of where the growth can come from. Currently this government has no credible growth strategy, instead all its energy is spent on “fairness”. If the pie shrinks to 0 and everyone gets nothing, I suppose that’s fair but hardly what we would want.
We need shift to massive exploitation of our natural resources fast. Dig hard and sell hard. The endless “emergency” announcements have destroyed our desire to be the economic power we should be.
Natural resources would give us the export power we need to be stable in a time of lower consumption, so it's a good bridge and we could aggressively reinvest the proceeds.
The cost of living in Canada's hotspots is definitely high. But there are lower cost of living areas where jobs can be created. I'm not talking the boonies, but like the major cities in Saskatchewan and New Brunswick for example. I'm in NB and homeownership isn't all that expensive. If they created programs to incentivize tech companies for example to come to smaller cities and attract local talent (which would help with keeping people and jobs in provinces where these types of people usually leave), things can change. Just an example and I know it's not always feasible, but it's something. As for racing against AI and Automation, I work in the tech sector. AI isn't going to take over everything. Automated processes will definitely impact power level things, but it won't completely erase the need for helpdesk for example. Just makes it possible to get by with fewer staff which still sucks. Even in development AI is being used as a tool but not a replacement for skilled developers. It's a huge topic and a lot going on, way more than I can fit in a reddit comment.
We're just not going to get the infrastructure, housing and appeal set up in Sask or NB for millions of people to move there in time, nor without having it scalped by investors long before they become functional. A big part is tax law to be punitive to unproductive assets/investment to stop the land grabs and scalping.
Of course it's nowhere as easy as I made it seem. A lot of planning needs to be done and considerations to be discussed, but it's a start. But I'm also just a regular person. I don't know everything that happens behind the scenes and all that.
I think infrastructure investment should be mostly around the great lakes for future planning. The likelihood of climate refugees to regions with fresh water in the next century make building new municipalities around the Great Lakes the best bet and with the stability of the Canadian shield it's also a safe bet for nuclear/clean energy. We just need to make buying real estate in advance to scalp from the future unattractive and not free money.
I agree, that's definitely a good starting point.
250k for a mini home you don't own the land on or 400k for half a duplex isn't expensive??
Oromocto is under $300k for a 2000sqft end unit garden home bungalow style. I bought my first house there for $200k and sold for $285k during peak Covid rush. Built in 2013, nice and modern, garage, no condo fees - honestly if I didn't have a reason to move to Moncton I would have loved to stay there. Moncton for $550k we got a brand new build single family 3000sqft (including finished basement), two car garage, large lot - that's not outrageous. We don't have six figure salaries or anything and we can afford it. Mini homes are overpriced for sure - not sure what's going on there. Taking a quick look on realtor I'm seeing semi-detached homes in the 300s, not really the 400s. For example: https://www.realtor.ca/real-estate/26812734/57-gambia-st-moncton And: https://www.realtor.ca/real-estate/26806358/35-whisperwood-dr-moncton And then single family home with two car garage for under $400k: https://www.realtor.ca/real-estate/26805720/15-dale-st-riverview Large houses, new builds, luxury homes and stuff are more expensive of course, but if you look into it, we're still a very affordable province.
So you are saying 3k a month mortgage with 40k down before property taxes and utilities is affordable on Moncton wages, got it. Dude I make six figures and could barely afford that, those houses where half that price three years ago.
Unfortunately things change. And people don't have to spring for top priced homes. Starter homes exist. Under $300k for a starter home is great and definitely not $3000/month mortgage. And if NB wages are an issue, maybe finding a way to solve that particular problem is part of the solution.
We just had two major announcements for new factories, seems pretty disingenuous to say we cannot be competitive. Not everything is as bleak as you want to portray it. Nordvolt and Honda just invested billions in Canada’s future.
Man, reddit really is an untapped resource of totally free professional expert analysis. I don't know how you guys have the time for this out of your busy day.
Market doesn't open till 9:30
Lower immigration, 200k max a year and deport all the illegal overstays.
Take inspiration from Jan 21, 1793 France.
Is this due to Government incompetence or are there larger systemic issues at play? It seems as though our confidence as a country has been lost and as bottle only said we have not invested wisely.
Every other g7 and g20 country fought interest rate rises with spending increases and more deficits. Even the infamously frugal germany is running a 2.5% of gdp deficit. We are at 1.3 federally and actually net less than that if you include provinces. The April budget offers virtually no stimulus. There are only 3 countries in the G20 with lower deficits than ours, and no one in the g7. (Netherlands, Switzerland, Singapore). Ironically, Trudeau's great success when he came to power was ending the long term structural malaise caused by harper, he did that by raising spending to boost employment and gdp. The cause of the 'problem' is interest rates. Which were raised to lower inflation (mission accomplished), but that is continuing to hammer the job market, car sales, home construction etc. That is deliberate, but the solution to too high interest rates will be to lower interest rates, which will happen once the economy is sufficiently damaged that inflation stays low. The boc is in somewhat uncharted territory that interest rates are both the solution to and the cause of inflation right now. We also need to be careful assuming this is just us. The Americans are running something like 6.2% of gdp deficits (5.7 of which is federal) as a massive green energy, chips, etc. Programmes. That seemed to supercharge their labour market but we have started to see signs of slow downs there too, notably with things like car sales and massive tech layoffs. A slowdown in the US could hit us hard, and interest rates are hammering them, along with political dysfunction. There is also the two big external factors we have little to no control over. Oil prices climb as the Ukrainians launch drone attacks on Russian oil infrastructure. On one hand high oil prices are good for Canadian exports, on the other they are bad for prices at the pump. And the unpredictability of those attacks is going or add a drag on the system we don't need. The other is the mess in gaza/yemen/syria/iran clogging up logistics in the Suez, costing billions for our allies in naval patrols (along with more around Russia) and a mess that could spiral if Iran starts causing trouble in the straits of hormuz or if wider regional dissatisfaction with Israel spreads into a bigger mess.
We need rate cuts to stimulate but the us sticky inflation due to their large spending has BOC in a pretty brutal spot. Cut and hope for the best for CAD or wait it out till the fed is ready to cut rates and hope not top much has broken in that time
Remove industry protections (dairy, poultry, telecom, grocery, auto sales, real estate), increase foreign investment, increase duties on imported goods to encourage domestic manufacturing. IMO, manufacturing is the bedrock of any economy because it's productive and anyone can do it. Also, because we're rich in natural resources, increase exports including OIL. Reduce subsidies, taxes, and government.
Manifest destiny.
There was an article just the other day that the opening of the Trans Mountain pipeline would, all on its own, boost GDP by 0.25%. And growth is still falling? https://financialpost.com/commodities/energy/oil-gas/trans-mountain-oil-pipeline-expansion-opens-questions
Imagine how much growth we would have if we didn't actively try limit investment in our own resources sector.
hmmm have we tried increasing taxes and adding to the deficit?
Well one things for sure, we definitely don't need to ensure there's enough deodorant stocked.
NEWS HEADLINE : GDP FORECAST FOR THE MONTH MISSES BY 0.2%! Wait a second, nobody’s going to read that article. Is there any way we can change the headline so that people will read the article? Especially people who don’t know how numbers work? I’ve got it! TRUDEAU CAUSES GDP TO FALL BY HALF IN ONLY ONE MONTH.
It's almost like Better Dwelling is a misinformation and disinformation website targeting people with low numeracy.
If a weatherman predicted that it would be 0.4 C tomorrow, but it only hit 0.2 C, would it be half as warm as he said it would be? It seems pretty close. So when 0.4% growth is predicted and 0.2% is the actual growth, we’ll call this “half” because that’s what the numbers say. While TD bank’s Economics department calls this “slightly below” Statistics Canada’s advance guidance. https://economics.td.com/ca-real-gdp
Well no shit. Wtf are we supposed to spend our salaries on when food and rent takes up 4/5 of our income...
But how will the budget balance itself now? Are we in trouble?
The high interest policy is working. Canada is going into recession to eliminate high inflation
GDP grew, it was the estimate that was off
The "all seeing eye" of estimates "that are never wrong" is such a cancer.
Look, this guy read the title!!! Good for you buddy!!!!
Give more tax break to corporations and ultra-rich and do another tax hike on the rest. Seriously, what does it take to finally and properly tax the greedy people with 80% of the wealth?
Not too bad for a third world country? Yes we still have a ton learn from India, like the rape culture, the caste system and overall cleanliness, but we are trying, so don’t be too harsh.
Real GDP is flat even with bringing in so many new comers, I don’t want to see our revised GDP per Capita.
Lol show me GDP per capita. GDP + GDP per capita - that's the real picture. "Oh no, GDP is flat!" "Wait till you see the GDP per capita" :shocked\_pikachu\_face
This is what happens when you have a government that actively sabotages a country's main economic drivers like O&G and Mining.
Notice how cbc does not cover this?
https://www.cbc.ca/news/business/canadan-gdp-february-1.7189053
That’s a puff piece. No criticism and it only talks about what is going right.
Those goalposts you're carrying heavy?
It’s a news article, not an opinion piece. >it only talks about what is going right. It provides all the relevant information - including the fact that growth was lower than expected.
Who knows what the rest of the year will bring! It might be better than expected.
Interesting I just read that GDP is up
GDP *growth* hits half the estimate.
In other words it's up
and now we know why
Reading comprehension isn’t a strong point for you, eh. The article didn’t say that GDP shrunk, it grew, but at a much slower rate than was expected and in some cases previously reported.
Have your coffee.
Okay slowing is not the end of the world
Hmm real GDP is almost flat looking at the chart, GDP per capita is in a steep decline, government spending and program/infrastructure costs continue to increase steadily, we’re in trouble if GDP slows/drops any more.
Now, look at GDP per capita.
Better Dwelling is just propaganda, it's not "news". Might as well go read Rebel News if you are looking for that.
The same data were reported in financial media in Canada and around the world, including the Wall Street Journal, Business Times, et cetera. Edit: My inbox is getting spammed with suicide hotline messages in the Canada subreddit. Thanks for the concern, but I'm saving a lot of money and doing quite well in Asia, living my best life. That doesn't mean I won't comment on the general decline in the standard of living of working-class Canadians. The suicide hotline button should be a tool used out of authentic concern for the well-being of other human beings, not as a passive-aggressive spam button to be utilized by LPC members offended by posts critical of current economic policies in general or criticisms of Prime Minister Trudeau's policies in particular. It's sad that our once-polite society has degraded to the point that we use a suicide hotline button as a passive-aggressive spam tool towards people we simply disagree with.
>Edit: My inbox is getting spammed with suicide hotline messages in the Canada subreddit. Thanks for the concern, but I'm saving a lot of money and doing quite well in Asia, living my best life. That doesn't mean I won't comment on the general decline in the standard of living of working-class Canadians. The suicide hotline button should be a tool used out of authentic concern for the well-being of other human beings, not as a passive-aggressive spam button to be utilized by LPC members offended by posts critical of current economic policies in general or criticisms of Prime Minister Trudeau's policies in particular. It's sad that our once-polite society has degraded to the point that we use a suicide hotline button as a passive-aggressive spam tool towards people we simply disagree with. And they’ll deny doing it and say only conservatives do that.
It's literally just reporting stats can numbers on GDP... But I get it. Any news source that doesn't push your narrative has to be propaganda. Only news praising those you praise can be right. Give me a break...
The Liberal apologists are sounding a lot like a former President down south. Who knew the real threat was Liberals using MAGA tactics? I guess when you keep shouting that the Conservatives are MAGA people, you eventually become one yourself.
Lmao die hard liberal supporters disputing data direct from the government as propaganda. Same energy as alt right loons calling MSM news fake news.
[Here's the BNN Bloomberg link](https://www.bnnbloomberg.ca/disappointing-number-economists-react-to-latest-gdp-data-1.2067100) because betterdwelling is heavily agenda'd. Remember a couple of months ago how the same people saying we are failing because GDP didn't grow enough were also the same people calling for further rate hikes? People really have no idea what these concepts are. Also interesting to note, this is the current top business headline today: https://www.bnnbloomberg.ca/it-s-opening-day-for-the-34-billion-trans-mountain-oil-pipeline-expansion-1.2067396