Comments on: Canada’s GDP Slowed Despite A Population Boom. That’s Bad News

By: Andrew Baldwin

Andrew Baldwin — Tue, 02 May 2023 01:41:08 +0000

It’s about time somebody pointed out that immigration at social-engineering levels with anemic GDP growth is not a winning combination. February saw an increase in real GDP but a 0.13% drop in real GDP per capita (using the LFS active population as the population measure). If March’s preliminary estimate of a 0.1% GDP decline is accurate, then there was a 0.35% decline in real GDP per capita in that month. April, because of the government strikes, could see a similar decline in real GDP per capita to March. In April we may well have had real GDP per capita more than 1% below the real GDP per capita in February 2020, the peak month before we went into recession. It is really a pathetic performance, and it seems that blockbuster immigration growth is part of the problem.

By: Jimbo Manfried

Jimbo Manfried — Sat, 29 Apr 2023 17:06:53 +0000

I distinctly remember looking up statscan population projection for 2020 3 years and it was at 40 million. A year later we have the census and then a year after that we have the census figure of 37 million for 2021.

If Canada’s population was already 40 million at 2020 then the figure at the beginning of the year 2023 is 42 million and the projected increase this year is about 1.2 million. So much people, so few jobs.

By: Biff Boffo

Biff Boffo — Sat, 29 Apr 2023 13:59:18 +0000

So the new ponzis aren’t acting like ponzis.

Little did they know Canada was brutally expensive.

By: Average Man

Average Man — Fri, 28 Apr 2023 19:13:44 +0000

I have, as a nobody who knows nothing but is a keen observer of people, said that the Canadian housing bubble will never “pop.” Instead, it will expand and expand until it starts putting pressure on everything around it, and only once all that has been crushed will housing itself correct. It will be the last thing to go, but when it does, there’s going to be a lot of problems. This is probably still 2-5 years away.

I don’t think we’re going to go full Venezuela or anything that dramatic, but picture Ireland/Spain/Greece in the mid-’00s. We will go from immigration to emigration FRIGHTENINGLY fast. It will take 15-20 years to get back on track.

By: Bob Vila

Bob Vila — Fri, 28 Apr 2023 18:18:19 +0000

Here’s paying the upper limit on your variable rate mortgage while inflation saps 20 percent of your purchasing power in only 2 years. You got the stagflation recession without the housing bust. I think this will be more harmful than allowing housing to correct appropriately to the rate increases. But I’m sure the private banks know what they’re doing managing the economy. Although I think the government is supposed to provide some oversight there.

By: PR

PR — Fri, 28 Apr 2023 17:25:18 +0000

Population growth might need a closer look. A huge proportion of new PR recipients are already temporary residents working and spending money here for some time. It’s just a change of their legal status not freshly added workforce and consumers.
At the same time overseas PR recipients might only show up in Canada in person after some time from receiving their PR cards causing a lag effect in any expected new consumer spending from that cohort.

By: Kevin Logan

Kevin Logan — Fri, 28 Apr 2023 17:09:56 +0000

In reply to Trader Jim.

– tell people abroad they can make money & have a high quality of life
– have them move here and spend all their money on rent
– they don’t have the ability for upward mobility, so they work the worst jobs and we poach their cheap labor

Why does this sound so familiar?

By: RW

RW — Fri, 28 Apr 2023 17:05:55 +0000

We build houses, and sell weed and oil. Somehow people think the people in charge are really good at building an economy, since the average idiot isn’t smart enough to own more than a house.

By: Trader Jim

Trader Jim — Fri, 28 Apr 2023 16:57:58 +0000

Basically trying to hide a contracting economy by averaging up like a degenerate gambler buying more stock at a lower price then bragging about the total value of their holdings.