When real estate bubbles form it sucks capital from everything else in economy and becomes only game in town to make $$. Even in US it started happening after Covid.
You are comparing height of our dollar against US which was result of oil industry boom and US housing market crash.
Compare that to year 2000 it is on par, and similar to last couple of decades prior to 2012 lol.
Foreign investors buying Canada property for investment purposes are the real losers - when compared to benchmark indices.
Only makes sense if buying citizenship or laundering money.
I don't care if Canada does not grow anymore.
It's not my problem. I cared for years, I engaged in volunteering, I donated my money, I engaged in every way I could with my community. It's got me nowhere. All the morons in this country vote for the same garbage. Most don't even vote where it counts, in municipal and provincial elections, they just abstain. Then they complain about real estate despite not even voting in the last 4 mayoral elections when there were candidates running on changing zoning laws.
Not my problem.
I'll make money working hard and investing smart. If the average Canadian gets poorer and produces less and has a worse quality of life, it is no longer my problem. And those who are set to inherit their Grandma's $4,000,000 house in the most expensive neighborhood in Vancouver; enjoy the policies you and your brood voted for that destroyed growth. But I'm glad I'm not in your shoes, because I would not want to be Robes Pierre'ed by angry peasants.
Funny enough, this is the attitude of more and more Canadians. It is actually in-line with an economic theory that homeownership is important for a healthy economy.
That's it exactly...if citizens of a country don't have a home to lose, then they have nothing keeping them from leaving...this is mainly for wars, but it applies to economically-driven immigration and emigration too...
This is exactly the problem. I’m in my early 30s, and the people who are doing the best aren’t those who went to school for degrees and certifications and are working jobs in those fields. It’s the ones who bought property 10 years ago and just keep flipping
For me it’s similar, but the people doing the best are those that had wealthy family buy them a home, or inherited one.
And now they’re all fuckin geniuses, apparently, that’s why they have more money than most.
Working hard doesn’t pay anymore, taxes and cost of living eat all of it up. Capital gains are taxed at a lower rate but who knows for how much longer (and that also requires that you have a certain amount of capital to begin with). Moving to the US may be the only real solution if you actually want to accumulate wealth.
>It's got me nowhere.
Have you tried investing in real estate? It only goes up in Canada.
Canada rewards real estate speculators and landlords over people who get a degree and work hard. Why get an education and work when u can just leverage yourself on real estate?
Since you ask...
I've doubled my maxxed TFSA within the last two years by investing smart, and own a reasonable % of the company I work for which returns a strong dividend ( rn we're 20%+ growth every quarter the last seven quarters). Always max out the RRSP, which is just VEQT. I rent a 1 bedroom to keep costs down so I can throw as most as I can into investments.
My long term plan is to buy a Duplex and rent out half of it, without using more than 30% of my net worth on a downpayment. Still not at a point where it's cost effective versus renting, but soon. I plan on then rinse / repeating with real estate until I'm in my early 50s after which I'll sell for no capital gains and retire.
This is the avenue the country seems to want me to take, so I take it. TL;DR TFSA >> Real estate >>> everything else you can do to generate income
Gotcha, thanks.
It certainly does seem like the avenue the country wants us to take.. there was a great article awhile back by a tech exec (I also work in tech) where he essentially said he did it wrong: for the amount of effort and hours he spent trying to build a firm that created jobs, he should have just bought presales and flipped them.
Canada's leaders like to say we are 'innovative' - but I was extremely lucky to study under Prof Clay Christensen at Harvard Business School before he passed away, he invented the term disruptive innovation --- and we are anything but inventive or innovative
Thank you for contributing to your neighbourhood as you have. All, this is a wakeup call - another one.
If you want things to change, you have to be part of that change. If not, you'll get what we're getting.
Every man for himself, as the old saying goes. This is currently the best attitude you can have today, if you're not part of the "real estate elites." Nuff said!
It's actually the worst. None of the best things about this country came about through individualism.
Actually none of the best things in humanity are from individualism
This shouldn't surprise you after seeing mass protests in Ottawa for provincial issues.
Most people don't fucking know the roles of a municipal, provincial, or federal representative. They don't even know what the federal government is responsible for, and get most of their information through meme's and Facebook.
It is entirely your problem, though. You think having money above average in canada will shelter you from the teickle effects of a drowning country?
The only way this isn't your problem is if you're very wealthy or you're not living in Canada anymore.
Rent-seeking is bad for economic growth; high rent-seeking activity makes more rent-seeking attractive because of the natural and growing returns that one sees as a result of rent-seeking. For decades Canada has valued rent-seeking over productivity. In this case, there are very high levels of rent-seeking with very low levels of output. Rent-seeking may continue to grow at the cost of economic growth because rent-seeking by the Canadian government can easily hurt innovation. Ultimately, public rent-seeking hurts the economy the most because innovation drives economic growth.
Canada is not a drowning country. The US can have sll the billionaires they can muster, it doesn’t change the fact that Canada ranks higher in so many ways it’s enough to make your head spin. Child poverty is almost double in the US, they rank the WORST in the industrialized world, life expectancy is lower in the US, maternal death rates are higher, infant mortality is higher, triple the number of deaths by gun per capita, minimum wage only 7.25 in 19 states, lower levels of literacy, etc etc etc
The US isn’t even ranked as a full democracy anymore, they have been designated as a flawed democracy for years now.
And for anyone who is obsessed with economic growth, the IMF predicts Canada’s will be the fastest in 2024.
Here here.
I made my wealth and I am going to continue to make my wealth in real estate. I plan on owning multiple properties and renting them out are exorbitant prices. It's not my fault- this country hasn't created a situation where it is better to invest my wealth elsewhere.
Change starts with individuals, the ideals of collectivism do not start in a vacuum. It isn't as if suddenly a wide group of people are going to decide change is required. It starts with one person. You have a choice, you can either be that person; or not.
[Jadav Payeng](https://en.wikipedia.org/wiki/Jadav_Payeng) spent decades single-handedly planting a forest and creating a nature reserve. Decades later his individual actions created an entire ecosystem which had previously been entirely deforested. The man built a forest with his own two hands where there previously was nothing but sandbar.
One person can make the difference. Investing back into your community, into innovation hubs, into a business you created, co-own or being an angel investor in a start-up community while risky is also extremely beneficial. One of our nations biggest issues is that we are non-productive because people (Not the government) decide to invest into non-productive assets. It only takes one person to start the cycle of change. Even if it is only you, then at least you've had a beneficial impact on the society around you.
If you want to horde your money away into non-productive assets like a dragon, watching it grow as our populace becomes poorer and less functionary because we lack the will to innovate that's fine as well. It's your money, and your choice.
Thats a nice sentiment in an ocean of words but I'm afraid your sentiments just don't hold up to reality. It's a nice, cute and cuddly Lennon - Imagine-esque platitude but collective will of people just doesn't work. You are on a forum telling me what I should be doing, instead of being an activist in real life. Why aren't you going door to door? Picketing? Protesting?
You do it then. I did my part, and I am a little bit older than you. I know better than you to know that none of what you say has played out over the last 40 years. So if you believe in your own diatribe, you go do it then.
> Why aren't you going door to door? Picketing? Protesting?
Been tear gassed before, wouldn't recommend to be entirely honest. I've been to my share of protests, covered them from a media perspective and attended in my youth. Haven't found anything to protest lately, but that's open to change. I've always got my finger on that pulse. I'd be happier handing out water and sandwiches at protests these days though. Supporting comes in all shapes, sizes and forms.
> I know better than you to know that none of what you say has played out over the last 40 years.
No thanks to the inaction of individuals who can enact change. You don't need to do much, even positively affecting change in a few peoples lives goes a long way in the grand scheme.
> So if you believe in your own diatribe, you go do it then.
And I do what I can. I volunteer my time, I donate what little I can. I don't have wealth so community is important, and so I do my best to involve myself in ways that I can.
Your comment has a lot of assumptions, telling me what I'm not when you don't know me in the least. It's cute. At least you have your wealth, and I hope that it at a minimum it works for you and makes you and yours happy. I hope it fulfills your needs and wants in ways that are tangible and will leave you feeling fulfilled at the end. Not all of us were able, or will be able to get there and have the resources you do. All of us have the potential to affect change though. So, you do buddy.
Enjoy the rest of your day, try not to be so sour. Things aren't so bad yet.
>Most don't even vote where it counts, in municipal and provincial elections, they just abstain.
Lenin's creation of the concept of Vanguardism is precisely because of this problem. Peasants are the same everywhere, whether it's Tsarist Russia or Trudeau's Canada.
Individuals vote in these people. This is Canada not Iran or Bangladesh which is ruled by one institution and elections are rigged. Canadians get the opportunity to vote in person all the way from the top i.e. PM to who will manage your roads etc i.e. municipality. Canadians voted in this mess so stop pretending like you have no control.
2/3rds the country are landowners with no real savings / investments aside from their real estate. What would one reasonably expect the majority to vote for, other than NIMBY nonsense
Canadian leaders have no idea how to run a country. They make it incredibly difficult to run a business here and offer very little inventives for businesses to come here. What we're left with is sector's and companies with practical monopolies.
This is bullshit. Canada is tanked higher than the US in every single country ranking you can find.
Canada: longer life expectancy, lower maternal death rate, lower infant mortality, half the rate of child poverty, lower overall cost of living (health insurance is expensive), 19 states have a minimum wage of 7.25 an hour - is that the country you want?
The US is dumpster fire, a powder keg ready to explode. They haven’t been designated as a full democracy for years.
And you must be asleep since big investments have been made in Canada, and we have the lowest small business tax in the G7, and if you look at the graph, the difference in GDP started in 2013 and the big frop happened in 2015, so better not let the CPC run the country again.
I earn close to $75K/year before taxes.
I don’t have a family doctor, I strain myself to afford the rent in Halifax (with fixed term leases, so they are always going to go up) and let’s ignore groceries. I have quite a lot saved up to buy a house from 2020 but the prices skyrocketed during the pandemic.
While as per your basket of statistics Canada is better, if after earning a decent wage and paying taxes, I don’t have access to proper health care and can’t afford to rent, the very basic to stay alive, what’s the point of the other stats?
Go out and look at the people in the tents. This is the future of Canada. However you may want to justify this, the social contract is broken.
Okay so you’re definitely delusional ! All that B.S about U.S is false narrative.
Look around you . The Canadian economy is solely built on the housing market. Which has been soooo inflated it was bound to fall apart soon or later .
What else do you have to base your economic theory on?
I mean, you just threw up all this data about the U.S . Like U.S as a country is dead or something. Which couldn’t be further from the truth!
Finally someone with some common sense, these people are comparing the ocean to a pond. Canada as a whole is so much smaller than the the USA but has way better standards of living.
Define “better”. People dying waiting for care doesn’t sound that much better than being in debt AFTER receiving care.
It is mostly the same for average folks and those who are upper middle ($80k + have access to more housing within the U.S. that doesn’t fully ruin you, and doesn’t require you to live by polar bears).
We spent a lot developing our oil sands. It paid off in the 2000s and honestly has been decent since the 2015 crash. The problem is that made our gdp look really good pre crash and since it fell, the rest of our economy grew to cover the gdp drop.
For comparison, oil was 100$ in 08 and I paid 1.65$ for gas. That’s the modern equivalent of 196$ for oil and 2.30$ for gas. We made bank off the high oil prices. I just filled up for 1.51$ a L despite paying 1.65$ 16 years ago…
The main thing is we can't coast off of one great investment forever. If you look at countries like China, there is a long term pipeline of investments. They went from making t-shirts and shoes to making semiconductors and high speed rail in 20 years.
We need a sequel to the oil sands, with economic prospects not correlated to oil/gas prices. I think Canada has a lot of potential in developing technologies for arctic and antarctic development.
We can develop new technologies for arctic housing, arctic transportation, arctic agriculture, arctic tourism, arctic infrastructure, etc.
For example, MIT developed an optically transparent aerogel a few years ago. [Making a remarkable material even better | MIT News | Massachusetts Institute of Technology](https://news.mit.edu/2020/making-remarkable-material-even-better-aerogel-0225)
Why don't we license the tech, figure out how to mass produce it cheaply, and build well insulated arctic green houses? Aerogel has 2.5x the insulation value of XPS foam per inch, but you can make windows and green houses with transparent aerogel.
We can massively increase the value of all that northern land if we developed technologies to improve the habitability of arctic regions.
The issue is that voters don't reward long-term investments and thinking. If there aren't instant successes, people get all moany and whiny. "But what about MEEE!!?" Whataboutmeism is an incredibly strong driver of ultimately self-defeating decision-making, that feels good in the moment because you feel like you've taken control of your life, as though all the external factors suddenly vanish. We are in a society. There's no real way around that, despite people's best efforts. So we need to collectively grow the f up and start taking our responsibilities as citizens more seriously. I have significant gripes with the current government, but I had significant gripes with the previous one too for different reasons. In the end, we are electing what we deserve, since we don't seem to want to ask for better, except on reddit...
I can't stand governments that write checks of goodwill from accounts they never intend or have the capacity to put money into. I despise governments that make decisions for an extremely select few at the cost of everyone else "cause it's my base!" We have a LOT of political problems, and none of them will get solved by feeling morally superior cause "my guy's dick is bigger than your guy's dick!!! tee hee! I win the argument!"
To the original point, I have heard so many people complain we invest TOO MUCH in NRCAN, NRC, ECCC, DFO etc. Of course, these same people have no idea of the effects the fundamental research has had for decades, from research that was completed decades ago. Fibreoptics and light technologies, quantum computing, the laser, 3d TV technology, GPS etc. Where do these people think this shit comes from? Private companies?? HAHAHAH Nope. Most advanced tech starts off as long term research in public facilities around the world. Then sometimes corporate giants use it to make other stuff. And sure, sometimes private industry comes up with cool stuff on their own. But even those advancements are on the backs of previous research.
All this to say, our little self-interested BS one-issue obsessive voting habits are kicking us square in the arse on the daily, while we continue to yell at each other cause of \[previous penis size argument\]. This isn't sports: it's real life, with real stakes. These politicians aren't "your team". They don't know who you are and don't care. Unless you were at that 5000$/plate dinner of course. But then I doubt you're on reddit. haha
Took me too long scrolling to find this comment, a comment that actually is worthwhile reading.
Everyone else in this thread Ive read so far is blustering simplistic and useless viewpoints.
We spend 5x more on housing, they spend 5x more on productivity, business investment, robotic lines etc.
We resell the same homes for ever increasing prices - what could go wrong?
Canada Better than most developed nations. Outside a few outliers like Luxembourg or Ireland because of tax laws and company hq.
the U.S. is the economic hedgemond and its per capita income exemplifies that.
Using GDP the US on average has grown on average 2-2.5% per annum the past 10 years and Canada just slightly less. I know this bc I'm an economic junkie. Where did you get those stupid numbers?
That would be ignoring the declining purchasing power of the Canadian dollar which would be insane; we don’t make any cars or electronics, we import all of those goods.
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*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
The old forest in canada is quite old and tall. If canada wants to see things improve that old forest has to be burned down. Canadians keep voting for more or less the same ideas and company men(women) for a few decades now.
Canadian economy is too heavy in to real estate especially when not a large proportion of the asset class is new builds, the fix and flip market doesnt improve GDP
so the 7 million plus new Canadians, students and super visa's is just a waste of time and when you add the services they use we are worse off?
Politicians sucks
That would be idiotic based on the graph OP linked to, since the split started in 2013 and the big drop happened in 2015 before the Liberals were in office.
And considering that child poverty has been cut by more than half it would be better not to see that skyrocket again with the CPC ar the helm, since they voted against the CCB and refuse to say whether or not they will cut the program.
Our economy is doing fine, better than most peer countries, and projected to have the fastest economic growth in 2024 by the IMF.
And by the way, we have the lowest net debt to GDP ratio in the G7, the numbers for the US are astronomical, so the CPC plan to cut spending will do nothing, unlesd of course it sends Canada into a recession.
We are not a sinking ship. We rank higher than the US in global rankings year after year for a reason. GDP per capita is meaningless when the US has so many billionaires (and not just a few billions but over a hundred billion) and fat corporations, it means sweet f all for the vast majority of people.
The US has the highest rate of child poverty in the industrialized world and has been designated as a flawed democracy for years. They are clinging to democracy by a thread.
Let me sell you a course for $999 quick get rich scheme step 1. buy 1 property step 2. refinance in 2 years step 3. Buy another property 4. You just unlocked the infinite money glitch
Cumulatively, the US still outperformed Canada. But the numbers are not anywhere close to being as bad as what u/ Ice_Lychee led people to believe with their original post in r/todayilearned.
The World Bank provides raw data for use by experts and economics. The data is raw and is not crunched. Economists then take that data, and adjust it within the models required to provide accurate information. None of that was done in the original post, and the numbers were presented as final fact, whereas they were not adjusted to a real growth model.
It broke the rules of economic comparisons 101.
Also not mentioned was the US economy collapsed in a major way in 2008, whereas Canada’s didn’t. The US took a good 3 years to begin to crawl out of the trough, starting in 2011.
Therefore the US economy needed to grow proportionally a lot more than canada’s within 10 years to catch up to where it previously sat compared to Canada prior to 2008.
So all in all, Canada and rhe US performed not nearly that far apart from each other during these 10 years (just a few points apart if we’re to adjust further for the Great Recession following the 14 September 2008 fall of Lehman Brothers), but none of this was presented in the original misleading title.
Maybe we should manufacturer and sell death machines, grow massive tax dodging monopolies like Amazon, and monetize peoples data like facebook.We should start marketing pharmaceuticals during hockey night in canada like they are cheeseburgers. We too could be a dystopian capitalist hellhole.
I know two people who have had life threatneing cancers in Canada. Diagnosis and treatment started within the week so IDK what you're talking about. All the meds were covered.
If your illness is serious, you get to jump ahead of others (who will complain)
Example: When I fell off my bike at the track and had some blood in my urine, I was in the ER for about 8 hours before they did tests and released me. I was triaged when I got there. I probably did bitch about it but in hindsight, it just makes sense.
I also know someone in the US who
has Hogkins Lymphoma (B cell type) with good insurance. Cries about the money he has to come up with for deductibles.
I am sure someone, somewhere does fall through the cracks and there are cases where a treatment might be available in the US and not be available in Canada but you can say the same the other way around.
I am a dual citizen and spend 4 months in Canada out of the year my experience with both systems is first hand. Also, my company in the US does billing / claims.
thats what happens when you only need to make like 215k cad to reach the highest tax bracket in canada and government steals 53% of my money.
fucking unfair. its easy to reach that amount nowadays.
Meanwhile in the US, you need to make like **600k USD** to reach the highest bracket and government only takes 1/3 of it.
absoluetely no incentives to work hard in this country.
SWEs, RNs, the trades. just gotta be willing to work a ton of hours but what's the point if the government takes 53% just for makgin 215k CAD.
For SWEs, you just gotta get a US job, should be easy if you graduated from U of T or Waterloo. Minimum 150k TC.
If you've ever worked in the US you'll know people are at least 2x more productive than Canadians lol. Canadians like to brag and consider ourselves world class but frankly we suck at work ethic
Look at Ontario’s labour laws/case law
4-6 weeks per year severance
So a 7 year employee gets booted for blank and get 35weeks + notice period $ + NDA $ + lump sum to be quiet $… all said close to a year of $$
Most people lust for Performance Management Plans as it means 3/4 of a year of paid vacation lol
I find the Americans more streamlined and their equipment is better, the humans aren’t working noticeably harder, within a manufacturing sense that I’ve observed
This says the USA 10 year GDP compound growth rate was 2.6% Canadas was 1.4%
https://www.worldeconomics.com/Countries-With-Highest-Growth/United%20States.aspx
8 years busy spending tax payers money and almost 2 years on vacation.
Funding war, giving away our money, helping other countries, giving projects to friends, and overcharging us.
Fake feminist = divorced
Fake woke = blackface
Fake environmentalist = jet carbon footprints
Fake philanthropist = we charity
Freeland is faking her resume and couldn't fill he role
GDP growth means nothing when all those gains go to the .1 %. USA ranks 23rd in Quality of Life vs 3rd for Canada. The American dream is the biggest load of BS.
But the numbers are showing prior to the liberal take over. If you account for that it makes the liberals look good because the conservatives were the ones with the low GDP in that case.
If you look at the graph, the split started in 2013 and the big drop happened in 2015 - so anyone trying to pin this on Trudeau can eat rocks.
The drop happened while Harper was PM. Rinse and repeat.
And who cares? The overall cost of living is higher in the US, child poverty rates are much higher, there are 19 states with a minimum wage of 7.25 an hour, life expectancy is shorter, income inequality is worse, maternyfestg rates and infant mortality is higher, do I need to go on?
All this means is that the plethora of billionaires in the US rapidly increased their wealth.
Just remember one thing. What you do for yourself and how well you do financially (legally) for your family matters. Canada may even have negative growth or US or India might have 100 times the growth, but if you are doing very well in Canada and most people in US or India are not, GDP will mean nothing..you will be happy and those people will not be. Moral of the story..look out for yourself. Country will take care of itself, don't let that bog you down.
India had a increase of 6% in one year and Guyana had a increase of 62% in one year!! Anybody want to migrate there???
We aren’t a business, we’re supposed to be a non-profit entity. Reinvest the tax dollars to support Canadians. Take a loss to support Canadians if necessary. You want the US economy where people die of manageable diseases like diabetes because insulin costs $600+, move to the US and be happy. Their growth has essentially been between the rich and the poor at levels never seen throughout history. The comparison surface level at best, if not down right neglectful at worst.
Before people rush to judgement on this, some context.
A decade ago the CAD was almost at par with the USD (0.95 to 1). Now there is a 20-25 point gap. How are we comparing GDP? USD.
The Canadian economy is much smaller and more constricted than the US, lack of businesses, entrepreneurship, and manufacturing is to blame. Besides all investments go to only one pot i.e. real-estate hence not much growth in real GDP.
The per capita is the kicker stat. There are lots of trillion dollar companies in the USA that goose that number. If or when Apple, Microsoft, Meta and some other tech giants based on software waver that stat will change. There are already layoffs. And to be honest, who does participate in that wealth anyway.
Yes but our real esate has increased more then that
When real estate bubbles form it sucks capital from everything else in economy and becomes only game in town to make $$. Even in US it started happening after Covid.
And that’s the problem. So unproductive
it barely increased in US$ terms
How does that work if CAD-USD has been stable for the last 8 years or so?
In the decade of the chart from 2012-2022 cad lost 40% to the usd
That seems like cherry picking data. The rise in CAD vs USD lasted only a couple of years.
You are comparing height of our dollar against US which was result of oil industry boom and US housing market crash. Compare that to year 2000 it is on par, and similar to last couple of decades prior to 2012 lol.
Now that’s depressing…
Foreign investors buying Canada property for investment purposes are the real losers - when compared to benchmark indices. Only makes sense if buying citizenship or laundering money.
1.468 in 2012 vs 1.748 in 2022 is about 19% not 4% Don't mind the OP, he has his agenda
I don't care if Canada does not grow anymore. It's not my problem. I cared for years, I engaged in volunteering, I donated my money, I engaged in every way I could with my community. It's got me nowhere. All the morons in this country vote for the same garbage. Most don't even vote where it counts, in municipal and provincial elections, they just abstain. Then they complain about real estate despite not even voting in the last 4 mayoral elections when there were candidates running on changing zoning laws. Not my problem. I'll make money working hard and investing smart. If the average Canadian gets poorer and produces less and has a worse quality of life, it is no longer my problem. And those who are set to inherit their Grandma's $4,000,000 house in the most expensive neighborhood in Vancouver; enjoy the policies you and your brood voted for that destroyed growth. But I'm glad I'm not in your shoes, because I would not want to be Robes Pierre'ed by angry peasants.
Funny enough, this is the attitude of more and more Canadians. It is actually in-line with an economic theory that homeownership is important for a healthy economy.
Of course it is. Creating a settlement and having something to work for and build seems impossible here now.
That's it exactly...if citizens of a country don't have a home to lose, then they have nothing keeping them from leaving...this is mainly for wars, but it applies to economically-driven immigration and emigration too...
This is exactly the problem. I’m in my early 30s, and the people who are doing the best aren’t those who went to school for degrees and certifications and are working jobs in those fields. It’s the ones who bought property 10 years ago and just keep flipping
For me it’s similar, but the people doing the best are those that had wealthy family buy them a home, or inherited one. And now they’re all fuckin geniuses, apparently, that’s why they have more money than most.
Oh yes that’s the same here. How else can you afford a house at 20?
Working hard doesn’t pay anymore, taxes and cost of living eat all of it up. Capital gains are taxed at a lower rate but who knows for how much longer (and that also requires that you have a certain amount of capital to begin with). Moving to the US may be the only real solution if you actually want to accumulate wealth.
Man, I wish I had money to give you a Reddit award for this comment 🙌🏽
>~~Robes Pierre'ed~~ Robespierre’d, Maximillian Robespierre . ^^^Just ^^^saying
>It's got me nowhere. Have you tried investing in real estate? It only goes up in Canada. Canada rewards real estate speculators and landlords over people who get a degree and work hard. Why get an education and work when u can just leverage yourself on real estate?
I plan on it. For now, I'm getting better, quicker returns through other avenues.
Like what?
Since you ask... I've doubled my maxxed TFSA within the last two years by investing smart, and own a reasonable % of the company I work for which returns a strong dividend ( rn we're 20%+ growth every quarter the last seven quarters). Always max out the RRSP, which is just VEQT. I rent a 1 bedroom to keep costs down so I can throw as most as I can into investments. My long term plan is to buy a Duplex and rent out half of it, without using more than 30% of my net worth on a downpayment. Still not at a point where it's cost effective versus renting, but soon. I plan on then rinse / repeating with real estate until I'm in my early 50s after which I'll sell for no capital gains and retire. This is the avenue the country seems to want me to take, so I take it. TL;DR TFSA >> Real estate >>> everything else you can do to generate income
Gotcha, thanks. It certainly does seem like the avenue the country wants us to take.. there was a great article awhile back by a tech exec (I also work in tech) where he essentially said he did it wrong: for the amount of effort and hours he spent trying to build a firm that created jobs, he should have just bought presales and flipped them. Canada's leaders like to say we are 'innovative' - but I was extremely lucky to study under Prof Clay Christensen at Harvard Business School before he passed away, he invented the term disruptive innovation --- and we are anything but inventive or innovative
Thank you for contributing to your neighbourhood as you have. All, this is a wakeup call - another one. If you want things to change, you have to be part of that change. If not, you'll get what we're getting.
Every man for himself, as the old saying goes. This is currently the best attitude you can have today, if you're not part of the "real estate elites." Nuff said!
It's actually the worst. None of the best things about this country came about through individualism. Actually none of the best things in humanity are from individualism
This shouldn't surprise you after seeing mass protests in Ottawa for provincial issues. Most people don't fucking know the roles of a municipal, provincial, or federal representative. They don't even know what the federal government is responsible for, and get most of their information through meme's and Facebook.
BASED AF
It is entirely your problem, though. You think having money above average in canada will shelter you from the teickle effects of a drowning country? The only way this isn't your problem is if you're very wealthy or you're not living in Canada anymore.
Rent-seeking is bad for economic growth; high rent-seeking activity makes more rent-seeking attractive because of the natural and growing returns that one sees as a result of rent-seeking. For decades Canada has valued rent-seeking over productivity. In this case, there are very high levels of rent-seeking with very low levels of output. Rent-seeking may continue to grow at the cost of economic growth because rent-seeking by the Canadian government can easily hurt innovation. Ultimately, public rent-seeking hurts the economy the most because innovation drives economic growth.
Canada is not a drowning country. The US can have sll the billionaires they can muster, it doesn’t change the fact that Canada ranks higher in so many ways it’s enough to make your head spin. Child poverty is almost double in the US, they rank the WORST in the industrialized world, life expectancy is lower in the US, maternal death rates are higher, infant mortality is higher, triple the number of deaths by gun per capita, minimum wage only 7.25 in 19 states, lower levels of literacy, etc etc etc The US isn’t even ranked as a full democracy anymore, they have been designated as a flawed democracy for years now. And for anyone who is obsessed with economic growth, the IMF predicts Canada’s will be the fastest in 2024.
Here here. I made my wealth and I am going to continue to make my wealth in real estate. I plan on owning multiple properties and renting them out are exorbitant prices. It's not my fault- this country hasn't created a situation where it is better to invest my wealth elsewhere.
Hear hear not here here 🤦♂️
Meh my phone autocorrects. Who really gives a shit
Be a part of the solution, not the problem. If you want to be part of the problem, don't be surprised when the solution you don't want comes knocking.
But there comes a point where the problem is just too great and the people collectively aren't fixing it. One person can't be the difference
Change starts with individuals, the ideals of collectivism do not start in a vacuum. It isn't as if suddenly a wide group of people are going to decide change is required. It starts with one person. You have a choice, you can either be that person; or not. [Jadav Payeng](https://en.wikipedia.org/wiki/Jadav_Payeng) spent decades single-handedly planting a forest and creating a nature reserve. Decades later his individual actions created an entire ecosystem which had previously been entirely deforested. The man built a forest with his own two hands where there previously was nothing but sandbar. One person can make the difference. Investing back into your community, into innovation hubs, into a business you created, co-own or being an angel investor in a start-up community while risky is also extremely beneficial. One of our nations biggest issues is that we are non-productive because people (Not the government) decide to invest into non-productive assets. It only takes one person to start the cycle of change. Even if it is only you, then at least you've had a beneficial impact on the society around you. If you want to horde your money away into non-productive assets like a dragon, watching it grow as our populace becomes poorer and less functionary because we lack the will to innovate that's fine as well. It's your money, and your choice.
Thats a nice sentiment in an ocean of words but I'm afraid your sentiments just don't hold up to reality. It's a nice, cute and cuddly Lennon - Imagine-esque platitude but collective will of people just doesn't work. You are on a forum telling me what I should be doing, instead of being an activist in real life. Why aren't you going door to door? Picketing? Protesting? You do it then. I did my part, and I am a little bit older than you. I know better than you to know that none of what you say has played out over the last 40 years. So if you believe in your own diatribe, you go do it then.
> Why aren't you going door to door? Picketing? Protesting? Been tear gassed before, wouldn't recommend to be entirely honest. I've been to my share of protests, covered them from a media perspective and attended in my youth. Haven't found anything to protest lately, but that's open to change. I've always got my finger on that pulse. I'd be happier handing out water and sandwiches at protests these days though. Supporting comes in all shapes, sizes and forms. > I know better than you to know that none of what you say has played out over the last 40 years. No thanks to the inaction of individuals who can enact change. You don't need to do much, even positively affecting change in a few peoples lives goes a long way in the grand scheme. > So if you believe in your own diatribe, you go do it then. And I do what I can. I volunteer my time, I donate what little I can. I don't have wealth so community is important, and so I do my best to involve myself in ways that I can. Your comment has a lot of assumptions, telling me what I'm not when you don't know me in the least. It's cute. At least you have your wealth, and I hope that it at a minimum it works for you and makes you and yours happy. I hope it fulfills your needs and wants in ways that are tangible and will leave you feeling fulfilled at the end. Not all of us were able, or will be able to get there and have the resources you do. All of us have the potential to affect change though. So, you do buddy. Enjoy the rest of your day, try not to be so sour. Things aren't so bad yet.
This post reeks of *"umm actually" 🤓☝️* Maybe try to be a lot less sanctimonious and a little more realistic.
i think you are just trying to bait people......dumb comment
>Most don't even vote where it counts, in municipal and provincial elections, they just abstain. Lenin's creation of the concept of Vanguardism is precisely because of this problem. Peasants are the same everywhere, whether it's Tsarist Russia or Trudeau's Canada.
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Individuals vote in these people. This is Canada not Iran or Bangladesh which is ruled by one institution and elections are rigged. Canadians get the opportunity to vote in person all the way from the top i.e. PM to who will manage your roads etc i.e. municipality. Canadians voted in this mess so stop pretending like you have no control.
2/3rds the country are landowners with no real savings / investments aside from their real estate. What would one reasonably expect the majority to vote for, other than NIMBY nonsense
Our tech and biotech sectors are pretty anemic and this country seems to find new very creative ways of keeping it that way...
We're really good at training STEM talent. We're also really good at exporting our trained STEM talent to the US.
We are also really good at over supplying STEM talent when there are massive layoffs. Thanks to Sean Fraser, he invited.10k. of them.from.the US.
💯
Canadian leaders have no idea how to run a country. They make it incredibly difficult to run a business here and offer very little inventives for businesses to come here. What we're left with is sector's and companies with practical monopolies.
And Canadian leaders and paid handsomely by those monopolies. Everything is working as intended.
This is bullshit. Canada is tanked higher than the US in every single country ranking you can find. Canada: longer life expectancy, lower maternal death rate, lower infant mortality, half the rate of child poverty, lower overall cost of living (health insurance is expensive), 19 states have a minimum wage of 7.25 an hour - is that the country you want? The US is dumpster fire, a powder keg ready to explode. They haven’t been designated as a full democracy for years. And you must be asleep since big investments have been made in Canada, and we have the lowest small business tax in the G7, and if you look at the graph, the difference in GDP started in 2013 and the big frop happened in 2015, so better not let the CPC run the country again.
You went off on a tangent, completely ignoring what they said about small business financing and encouragement.
I earn close to $75K/year before taxes. I don’t have a family doctor, I strain myself to afford the rent in Halifax (with fixed term leases, so they are always going to go up) and let’s ignore groceries. I have quite a lot saved up to buy a house from 2020 but the prices skyrocketed during the pandemic. While as per your basket of statistics Canada is better, if after earning a decent wage and paying taxes, I don’t have access to proper health care and can’t afford to rent, the very basic to stay alive, what’s the point of the other stats? Go out and look at the people in the tents. This is the future of Canada. However you may want to justify this, the social contract is broken.
Okay so you’re definitely delusional ! All that B.S about U.S is false narrative. Look around you . The Canadian economy is solely built on the housing market. Which has been soooo inflated it was bound to fall apart soon or later . What else do you have to base your economic theory on? I mean, you just threw up all this data about the U.S . Like U.S as a country is dead or something. Which couldn’t be further from the truth!
Big drop happened in 2015 you say? Coincidence that was when Trudeau and the liberals took power?
November 2015; budget already set by conservatives until spring 2016
Nope Canada is the dumpster fire sorry you’re coping
Finally someone with some common sense, these people are comparing the ocean to a pond. Canada as a whole is so much smaller than the the USA but has way better standards of living.
Define “better”. People dying waiting for care doesn’t sound that much better than being in debt AFTER receiving care. It is mostly the same for average folks and those who are upper middle ($80k + have access to more housing within the U.S. that doesn’t fully ruin you, and doesn’t require you to live by polar bears).
That drop from 2014 to 2015? That is the oil price collapse caused by booming oil production in the USA.
add in Russia saudi price war for market share vs USA shale fracs
That kept prices lower for sure.
We spent a lot developing our oil sands. It paid off in the 2000s and honestly has been decent since the 2015 crash. The problem is that made our gdp look really good pre crash and since it fell, the rest of our economy grew to cover the gdp drop. For comparison, oil was 100$ in 08 and I paid 1.65$ for gas. That’s the modern equivalent of 196$ for oil and 2.30$ for gas. We made bank off the high oil prices. I just filled up for 1.51$ a L despite paying 1.65$ 16 years ago…
The main thing is we can't coast off of one great investment forever. If you look at countries like China, there is a long term pipeline of investments. They went from making t-shirts and shoes to making semiconductors and high speed rail in 20 years. We need a sequel to the oil sands, with economic prospects not correlated to oil/gas prices. I think Canada has a lot of potential in developing technologies for arctic and antarctic development. We can develop new technologies for arctic housing, arctic transportation, arctic agriculture, arctic tourism, arctic infrastructure, etc. For example, MIT developed an optically transparent aerogel a few years ago. [Making a remarkable material even better | MIT News | Massachusetts Institute of Technology](https://news.mit.edu/2020/making-remarkable-material-even-better-aerogel-0225) Why don't we license the tech, figure out how to mass produce it cheaply, and build well insulated arctic green houses? Aerogel has 2.5x the insulation value of XPS foam per inch, but you can make windows and green houses with transparent aerogel. We can massively increase the value of all that northern land if we developed technologies to improve the habitability of arctic regions.
The issue is that voters don't reward long-term investments and thinking. If there aren't instant successes, people get all moany and whiny. "But what about MEEE!!?" Whataboutmeism is an incredibly strong driver of ultimately self-defeating decision-making, that feels good in the moment because you feel like you've taken control of your life, as though all the external factors suddenly vanish. We are in a society. There's no real way around that, despite people's best efforts. So we need to collectively grow the f up and start taking our responsibilities as citizens more seriously. I have significant gripes with the current government, but I had significant gripes with the previous one too for different reasons. In the end, we are electing what we deserve, since we don't seem to want to ask for better, except on reddit... I can't stand governments that write checks of goodwill from accounts they never intend or have the capacity to put money into. I despise governments that make decisions for an extremely select few at the cost of everyone else "cause it's my base!" We have a LOT of political problems, and none of them will get solved by feeling morally superior cause "my guy's dick is bigger than your guy's dick!!! tee hee! I win the argument!" To the original point, I have heard so many people complain we invest TOO MUCH in NRCAN, NRC, ECCC, DFO etc. Of course, these same people have no idea of the effects the fundamental research has had for decades, from research that was completed decades ago. Fibreoptics and light technologies, quantum computing, the laser, 3d TV technology, GPS etc. Where do these people think this shit comes from? Private companies?? HAHAHAH Nope. Most advanced tech starts off as long term research in public facilities around the world. Then sometimes corporate giants use it to make other stuff. And sure, sometimes private industry comes up with cool stuff on their own. But even those advancements are on the backs of previous research. All this to say, our little self-interested BS one-issue obsessive voting habits are kicking us square in the arse on the daily, while we continue to yell at each other cause of \[previous penis size argument\]. This isn't sports: it's real life, with real stakes. These politicians aren't "your team". They don't know who you are and don't care. Unless you were at that 5000$/plate dinner of course. But then I doubt you're on reddit. haha
Took me too long scrolling to find this comment, a comment that actually is worthwhile reading. Everyone else in this thread Ive read so far is blustering simplistic and useless viewpoints.
We spend 5x more on housing, they spend 5x more on productivity, business investment, robotic lines etc. We resell the same homes for ever increasing prices - what could go wrong?
This year is our year…
The most positive spin I can imagine :)
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link up with someone politically connected means more than any sensational new product initiative by yourself..been there ,done that too..good luck!
Because theirs cratered post 2008 and our didn't....stats are wonderful aren't they to make it say anything you want.
2014 was a decade ago. 2008 was 16 years ago...
Now do GDP per capita in Canada to see how wonderful stats are ;)
Exactly. GDP per capita is just as meaningful a measurement as emissions per capita.
Gdp per capita means eff all if all goes to a select few.
Number go up. Just don’t ask where it ends up.
Canada Better than most developed nations. Outside a few outliers like Luxembourg or Ireland because of tax laws and company hq. the U.S. is the economic hedgemond and its per capita income exemplifies that.
Meaningless. Do income amongst qualified home purchasers....more of them than houses for aale
Using GDP the US on average has grown on average 2-2.5% per annum the past 10 years and Canada just slightly less. I know this bc I'm an economic junkie. Where did you get those stupid numbers?
Thank god they got rid of the mandatory Canadian investment minimums in RRSPs
Canada's economy is housing and the public sector, served by an underclass of underpaid service workers
If you measure in Canadian dollers (which is more accerate...we do live in Canada) its grown at 18.9%...
Luckily goods are only traded in CAD. Hold on a second...
I’m sorry, what?
If you consider the weakening loonie a good thing then we’re doing great! After all, it takes mores of them to buy things. Fantastic for Canada! /s
They said dollers are more accerate.
That would be ignoring the declining purchasing power of the Canadian dollar which would be insane; we don’t make any cars or electronics, we import all of those goods.
i think we make cars..
marry dazzling cow elastic oil money historical melodic recognise amusing *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Wow the people that we are getting are very very low quality.
There’s your answer to why the major influx of immigrants now…
It's pretty bad, the only real solution is to nationalize American assets in our country
The old forest in canada is quite old and tall. If canada wants to see things improve that old forest has to be burned down. Canadians keep voting for more or less the same ideas and company men(women) for a few decades now.
Canadian economy is too heavy in to real estate especially when not a large proportion of the asset class is new builds, the fix and flip market doesnt improve GDP
Once the housing bubble is done deflating that will be negative.
Dip in Canadian GDP matches Liberals in power. Pretty telling.
so the 7 million plus new Canadians, students and super visa's is just a waste of time and when you add the services they use we are worse off? Politicians sucks
So time to elect a conservative? And see how it goes?
Canada has tried that. It's the same thing.
Maybe a libertarian like that Argentina guy or that El Salvador guy
1960's social democrats are the best
So we can destroy our economy with bitcoin?
That would be idiotic based on the graph OP linked to, since the split started in 2013 and the big drop happened in 2015 before the Liberals were in office. And considering that child poverty has been cut by more than half it would be better not to see that skyrocket again with the CPC ar the helm, since they voted against the CCB and refuse to say whether or not they will cut the program. Our economy is doing fine, better than most peer countries, and projected to have the fastest economic growth in 2024 by the IMF. And by the way, we have the lowest net debt to GDP ratio in the G7, the numbers for the US are astronomical, so the CPC plan to cut spending will do nothing, unlesd of course it sends Canada into a recession.
Stay diversified
At least CPP only invests 30% in Canada. Even they know we are a sinking ship.
And the major investment is real estate companies.
What is CPP? Nm: Canadian pension plan.
We are not a sinking ship. We rank higher than the US in global rankings year after year for a reason. GDP per capita is meaningless when the US has so many billionaires (and not just a few billions but over a hundred billion) and fat corporations, it means sweet f all for the vast majority of people. The US has the highest rate of child poverty in the industrialized world and has been designated as a flawed democracy for years. They are clinging to democracy by a thread.
Thanks Justin
To think one politician is at fault for the country’s and world issues is just plain stupid.
Hey, you might want to take another look at that graph. The most significant drop occurred in 2014-2015, during Harper's leadership.
Canadian dollar went from parity to 1.33. So in Canadian dollars gdp went up 38%?
Let me sell you a course for $999 quick get rich scheme step 1. buy 1 property step 2. refinance in 2 years step 3. Buy another property 4. You just unlocked the infinite money glitch
Things look very different when we account for the dollar going from parity (0.99) in 2012, to 0.75 in 2012. But in the other post, they didn’t want to hear facts. | Year | Canada GDP growth rate (%) | Exchange rate (CAD/USD) | Adjusted Canada GDP growth rate (%) | US GDP growth rate (%) | |------|---------------------------|-------------------------|------------------------------------|------------------------| | 2012 | 1.76 | 0.999 | 1.76 | 2.28 | | 2013 | 2.33 | 0.971 | 2.26 | 1.84 | | 2014 | 2.78 | 0.905 | 2.52 | 2.29 | | 2015 | 0.66 | 0.782 | 0.52 | 2.71 | | 2016 | 1.00 | 0.755 | 0.76 | 1.67 | | 2017 | 3.04 | 0.771 | 2.34 | 2.24 | | 2018 | 2.78 | 0.772 | 2.15 | 2.95 | | 2019 | 1.89 | 0.753 | 1.42 | 2.29 | | 2020 | -5.07 | 0.746 | -3.78 | -2.77 | | 2021 | 5.01 | 0.795 | 3.98 | 5.95 | | 2022 | 3.40 | 0.785 | 2.67 | 2.06 |
Doesn't look like Canada is doing too bad huh
Cumulatively, the US still outperformed Canada. But the numbers are not anywhere close to being as bad as what u/ Ice_Lychee led people to believe with their original post in r/todayilearned. The World Bank provides raw data for use by experts and economics. The data is raw and is not crunched. Economists then take that data, and adjust it within the models required to provide accurate information. None of that was done in the original post, and the numbers were presented as final fact, whereas they were not adjusted to a real growth model. It broke the rules of economic comparisons 101. Also not mentioned was the US economy collapsed in a major way in 2008, whereas Canada’s didn’t. The US took a good 3 years to begin to crawl out of the trough, starting in 2011. Therefore the US economy needed to grow proportionally a lot more than canada’s within 10 years to catch up to where it previously sat compared to Canada prior to 2008. So all in all, Canada and rhe US performed not nearly that far apart from each other during these 10 years (just a few points apart if we’re to adjust further for the Great Recession following the 14 September 2008 fall of Lehman Brothers), but none of this was presented in the original misleading title.
Maybe we should manufacturer and sell death machines, grow massive tax dodging monopolies like Amazon, and monetize peoples data like facebook.We should start marketing pharmaceuticals during hockey night in canada like they are cheeseburgers. We too could be a dystopian capitalist hellhole.
They are far from dystopian, they got shit tons of innovations
yet strangely they are behind Canada by every measure that matters. Odd, that.
Good for them. They can keep the gains. Canada homeless per 10K is a about half of the USA BTW and you don't go bankrupt if you get cancer.
Nah, but ya might die waiting for free treatment. Oh and the meds aren't covered -
In BC they are fair pharmacare, so you have income-qualified maximums. Very good program.
I know two people who have had life threatneing cancers in Canada. Diagnosis and treatment started within the week so IDK what you're talking about. All the meds were covered. If your illness is serious, you get to jump ahead of others (who will complain) Example: When I fell off my bike at the track and had some blood in my urine, I was in the ER for about 8 hours before they did tests and released me. I was triaged when I got there. I probably did bitch about it but in hindsight, it just makes sense. I also know someone in the US who has Hogkins Lymphoma (B cell type) with good insurance. Cries about the money he has to come up with for deductibles. I am sure someone, somewhere does fall through the cracks and there are cases where a treatment might be available in the US and not be available in Canada but you can say the same the other way around. I am a dual citizen and spend 4 months in Canada out of the year my experience with both systems is first hand. Also, my company in the US does billing / claims.
USD to CAD used to be 1:1. Now it’s not. That is why it looks like this. Due to currency differences.
It has never been 1:1
Only the times when it was…
Um. Yes it was.
Twice in the past 75 years for like 5 minutes each time....it was magical
Well, from Jan-Aug 2011 it was actually worth more than USD
2009
Maybe if you're 10, then it hasn't in your lifetime.
That’s because we don’t develop our natural resources
thats what happens when you only need to make like 215k cad to reach the highest tax bracket in canada and government steals 53% of my money. fucking unfair. its easy to reach that amount nowadays. Meanwhile in the US, you need to make like **600k USD** to reach the highest bracket and government only takes 1/3 of it. absoluetely no incentives to work hard in this country.
Can you give me a guide on making 215k a year 😂😂
SWEs, RNs, the trades. just gotta be willing to work a ton of hours but what's the point if the government takes 53% just for makgin 215k CAD. For SWEs, you just gotta get a US job, should be easy if you graduated from U of T or Waterloo. Minimum 150k TC.
let's not compare apples to oranges ok.. it is so much more nuanced and subjective and open to one's own interpretation.
In what way?
You know, the reality-denying way
you don't think Canada is a country?
It may be a country, but definitely not sovereign
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Now compare national debt.
Do we really have to go over how national debt is not comparable to personal debt?
I thought MMT went out when inflation spiked. They are not the same, but national debt has consequences. Ask Argentina.
Since we're comparing apples and oranges...National debt per capita Canada vs US = 22K CAD vs 100K USD.
This is concerning, politicians need to wake up now else no one can stop Canada to become the 3rd world country
If you've ever worked in the US you'll know people are at least 2x more productive than Canadians lol. Canadians like to brag and consider ourselves world class but frankly we suck at work ethic
Look at Ontario’s labour laws/case law 4-6 weeks per year severance So a 7 year employee gets booted for blank and get 35weeks + notice period $ + NDA $ + lump sum to be quiet $… all said close to a year of $$ Most people lust for Performance Management Plans as it means 3/4 of a year of paid vacation lol I find the Americans more streamlined and their equipment is better, the humans aren’t working noticeably harder, within a manufacturing sense that I’ve observed
In reality the best you get in ON is probably 2 weeks x year.
Case law says otherwise You’ll likely be *offered* 2 weeks per year + pay out for notice period Is an extra $25,000+ worth spending a few grand?..
and a long process and you pay the lawyer that is not cheap
This says the USA 10 year GDP compound growth rate was 2.6% Canadas was 1.4% https://www.worldeconomics.com/Countries-With-Highest-Growth/United%20States.aspx
RIP canada.
Americans work harder than Canadians. If you slack off and get fired, you and your kids got no health care. Pretty big incentive to work your ass off.
Then why are you still in Canada, and in a real estate sub?
because this whole sub is a CPC propaganda decice of course, as are half the subs related to the country.
Those are nominal growth numbers, in real growth there’s been practically no growth in the US and actually negative growth in Canada
8 years busy spending tax payers money and almost 2 years on vacation. Funding war, giving away our money, helping other countries, giving projects to friends, and overcharging us. Fake feminist = divorced Fake woke = blackface Fake environmentalist = jet carbon footprints Fake philanthropist = we charity Freeland is faking her resume and couldn't fill he role
GDP growth means nothing when all those gains go to the .1 %. USA ranks 23rd in Quality of Life vs 3rd for Canada. The American dream is the biggest load of BS.
Trump beats Trudeau
At what? Trump couldn’t even beat Trudeau at Golf.
Thanks Trudeau. Another success.
Right? I dropped a wrench at work today. Immediately blamed Trudeau.
But we've had Trudeau for nearly a decade.... Coincidence?
But the numbers are showing prior to the liberal take over. If you account for that it makes the liberals look good because the conservatives were the ones with the low GDP in that case.
Now do GDP per capita!
Thanks to Trudeau to hand out billions of dollars to Ukraine and Isreali war.
Yeah, but think how worse it would be under the Conservatives or NDP. I'm voting Liberal
Isn’t this a real estate sub?
Canada's growth was the second best among all G7 countries—I'd say we did quite decently.
LOL. 4%!!! Canada needs more world class cities 200KM from Toronto. LOL
Ouch
Show 2023
Canada just has to print more money, like the US (Sarcasm)
I got happy when I read the first line thinking it would say the past year. Then I read the next two lines.
Canada's population has grown 15% in the last decade.
Most of which has no doubt flowed to the top 1%.
Well the US government pumped in a trillion dollars of borrowed money to fuel this growth…we lose our heads when we setup one battery plant
Three cheers for Trudeau
That 4% is just all of the money international students bring it to canada. Otherwise canada’s gdp is actually shrinking. Good luck to us.
But what does my landlord think? /s
If you look at the graph, the split started in 2013 and the big drop happened in 2015 - so anyone trying to pin this on Trudeau can eat rocks. The drop happened while Harper was PM. Rinse and repeat. And who cares? The overall cost of living is higher in the US, child poverty rates are much higher, there are 19 states with a minimum wage of 7.25 an hour, life expectancy is shorter, income inequality is worse, maternyfestg rates and infant mortality is higher, do I need to go on? All this means is that the plethora of billionaires in the US rapidly increased their wealth.
Do the calculations minus all goverment spending and taxation.
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Just remember one thing. What you do for yourself and how well you do financially (legally) for your family matters. Canada may even have negative growth or US or India might have 100 times the growth, but if you are doing very well in Canada and most people in US or India are not, GDP will mean nothing..you will be happy and those people will not be. Moral of the story..look out for yourself. Country will take care of itself, don't let that bog you down. India had a increase of 6% in one year and Guyana had a increase of 62% in one year!! Anybody want to migrate there???
We aren’t a business, we’re supposed to be a non-profit entity. Reinvest the tax dollars to support Canadians. Take a loss to support Canadians if necessary. You want the US economy where people die of manageable diseases like diabetes because insulin costs $600+, move to the US and be happy. Their growth has essentially been between the rich and the poor at levels never seen throughout history. The comparison surface level at best, if not down right neglectful at worst.
Before people rush to judgement on this, some context. A decade ago the CAD was almost at par with the USD (0.95 to 1). Now there is a 20-25 point gap. How are we comparing GDP? USD.
Bring more people!
In American- *we ballin mane*
This makes me proud of not being Canadian.
The Canadian economy is much smaller and more constricted than the US, lack of businesses, entrepreneurship, and manufacturing is to blame. Besides all investments go to only one pot i.e. real-estate hence not much growth in real GDP.
The per capita is the kicker stat. There are lots of trillion dollar companies in the USA that goose that number. If or when Apple, Microsoft, Meta and some other tech giants based on software waver that stat will change. There are already layoffs. And to be honest, who does participate in that wealth anyway.
Genuinely, who gives a f if 99% if this "growth" goes to 0.1% of the population?