Canada's debt to gdp

[BreadWinner]

Thats all a bunch of lies!!!!
Our great leader told me that the Economy comes from the HEART and the budget will balance itself.

[errolanderson]

Canadian government deficit spending is now the key driver of Canada's economy. Our economy has yet to get off its training wheels. Reality is going to come with a mighty punch to the consumer . . . .

[hobbyfrmr]

Thats all a bunch of lies!!!!
Our great leader told me that the Economy comes from the HEART and the budget will balance itself.

You had to remind us of the election winning quotes from selfie.
Are the bankers going to tell citizens that they just didnt have enough heart when the citizens are turning in the keys to their SUVs and houses?
That last sentence seems to be an absurdly impossible scenario but somehow the odds are in that direction.

[Hamloc]

Klause, back to your original statement. Germany has a 300 billion dollar trading surplus with the world. They tried to take over the world by force in WW2, now they are doing it with business. They simply have a better work and design culture than the rest of the world. I read an interesting article about Elon Musk and his mastery of the fake economy in the financial post. The most celebrated entrepreneur in the US and his business model DEPENDS on government subsidy. Any jurisdiction that eliminates it's electric car subsidy also eliminates Tesla car sales. He has a creative mind but his business model is built on BS. Canada is more interested in embracing the fake economy than we are in being real builders like Germany. Think about it, most Governments in Canada want to shut down the fossil fuel industry and replace it with Chinese made solar panels and corporate marijuana grow ops. They think this is the future! In contrast in Germany they try to figure out what the world needs and then build it better than anyone else, who do you think will come out on top?

[Oliver88]

And the cutting of trees, the growing of food, the catching of fish, the trapping of furrs... the extraction of minerals is the only way that money is ever given value... Everything else is simply moving money in circles.

I was told by Liberals that the industries you listed are "old industries" Klause. Also taxing the hell of the industries you listed with a carbon tax will be good for the economy. Than also scrutinize all corporations in these sectors to see if governments can extract more income taxes.


The environmental activists say the good news is there will be "green" jobs that will replace all these old and dirty jobs.

[chuckChuck]

I am surprised that you credit Germany for a solid economy? They have invested heavily in renewable energy using subsidies. They have strong social programs and longer holidays and better benefits for many workers because of strong unions. They have taken the largest share of refugees in the world.

How do they manage a successful economy without all the natural resources that a country like Canada depends on? Could it be that our over reliance on natural resources makes us less innovative and productive? Not to mention vulnerable to commodity price swings over which we have no control.

BTW Canada currently has the top or near the top growth rate in the G7.

[blackpowder]

Germanys' greatest resource has been its culture of industry and manufacturing.
Relying in part on access to an abundance of cheap electricity.
We at present lack the culture and the base. And now of course, we lack access to cheap, abundant electicity.
Stop hiding behind cheap politics.

[samhill]

Canada's debt

One other problem is our smartest brightest are employed in the USA and other countries. No way we can keep them here.

[errolanderson]

I am surprised that you credit Germany for a solid economy? They have invested heavily in renewable energy using subsidies. They have strong social programs and longer holidays and better benefits for many workers because of strong unions. They have taken the largest share of refugees in the world.

How do they manage a successful economy without all the natural resources that a country like Canada depends on? Could it be that our over reliance on natural resources makes us less innovative and productive? Not to mention vulnerable to commodity price swings over which we have no control.

BTW Canada currently has the top or near the top growth rate in the G7.

Canada's amazing growth rate is sponsored by out-of-control government deficit spending. Soon, a reality check, as the piper will have to be paid . . . .

[chuckChuck]

Canada's amazing growth rate is sponsored by out-of-control government deficit spending. Soon, a reality check, as the piper will have to be paid . . . .

Does not Canada have a triple A credit rating? If so this indicates that credit rating agencies consider Canada to be in relatively good financial position. While government debt levels are a concern we are in better shape than many other countries. Better than the US.
Consumer debt and housing prices would be of greater concern because incomes are not rising as fast. Rising interest rates will be a big issue for many consumers as many have over spent on housing and vehicles.

[grassfarmer]

Oh heck no, The largest sector of Canada's economy right now, at just over 12% is Real estate & rental services... Let that sink in... Our economy is built on trading houses worth 10% of what they are selling for.

We will never have a manufacturing industry here... unions have made it too expensive, and Canadian workers are some of the most inefficient in the world (according to a HR guy I know at a multinational)

Another good topic Klause and shame it got derailed into partizan politics because I don't think for a minute there has been a noticeable change in types of trade carried out by Canada and Canadians since the Liberals took over from the Conservatives.
These are societal changes and part of the "global trade" holy grail that so many reach for. People in first world countries no longer want to do the production stuff because production is dirty, hard work and gets done cheaper in the 3rd world so we export the production. We've got fat and lazy as citizens and consumers and want everything we buy to be cheaper ignoring the environmental and human costs that often imposes on 3rd world countries.

Britain was ahead of Canada in this regards by probably 20 years plus. Used to have an economy built on production - coal, steel, ship building, cars, aircraft and these are largely all gone now. It amazes me how many jobs they have been able to create in the service sector - countless kids going to university to get a degree in "hospitality management"

I don't think it's purely a Canadian problem, a union caused problem and certainly not a Liberal versus Conservative problem. It's societal change in the very fake world we live in.

[furrowtickler]

And the cutting of trees, the growing of food, the catching of fish, the trapping of furrs... the extraction of minerals is the only way that money is ever given value... Everything else is simply moving money in circles.

That is exactly right 👍👍
The rest of the economy is just circulating existing money . JT is going to kill the industries that create money - if anyone can't see that they are just plain stupid

[Klause]

Another good topic Klause and shame it got derailed into partizan politics because I don't think for a minute there has been a noticeable change in types of trade carried out by Canada and Canadians since the Liberals took over from the Conservatives.
These are societal changes and part of the "global trade" holy grail that so many reach for. People in first world countries no longer want to do the production stuff because production is dirty, hard work and gets done cheaper in the 3rd world so we export the production. We've got fat and lazy as citizens and consumers and want everything we buy to be cheaper ignoring the environmental and human costs that often imposes on 3rd world countries.

Britain was ahead of Canada in this regards by probably 20 years plus. Used to have an economy built on production - coal, steel, ship building, cars, aircraft and these are largely all gone now. It amazes me how many jobs they have been able to create in the service sector - countless kids going to university to get a degree in "hospitality management"

I don't think it's purely a Canadian problem, a union caused problem and certainly not a Liberal versus Conservative problem. It's societal change in the very fake world we live in.

I completely agree with you grass.


This is a glutton and entitlement problem. Somehow the Scandinavians and Germans have been able to get away from it at least in part.


The decadence over entitlement and belief that a person is too good for a job is the reason we have no manufacturing and no industry.


A philipino is happy to work at a fert plant make his $20 per hour and go home to his family. A "Canadian" needs twice that, doesn't do half the work, is always using some sort of 'leave' to get out of work and wants- no believes he needs to own a fancy pickup a fancy camper and 3 quads plus a house at the lake.

[ajl]

It helps Germany that the loser members of the EU keep the currency cheap helping German exports. If they were using the Duetsch mark today, German exports would be lower.

[chuckChuck]

I completely agree with you grass.


This is a glutton and entitlement problem. Somehow the Scandinavians and Germans have been able to get away from it at least in part.


The decadence over entitlement and belief that a person is too good for a job is the reason we have no manufacturing and no industry.


A philipino is happy to work at a fert plant make his $20 per hour and go home to his family. A "Canadian" needs twice that, doesn't do half the work, is always using some sort of 'leave' to get out of work and wants- no believes he needs to own a fancy pickup a fancy camper and 3 quads plus a house at the lake.

It is a mistake to say we have no manufacturing and industry. A few years ago you couldn't find an employee because there was too many jobs going unfilled in Western Canada. We still have alot of ag manufacturing, aerospace, construction, tech jobs many of them in Western canada. We are short of skilled computer programmers. What about all the construction jobs as we replace aging infrastructure and housing?

We are overly dependent on resources. Commodities go up and down with supply and demand. We have seen this before and survived. Did anyone expect the out of control hyper boom to last for ever? That was unsustainable growth and not the norm. Our economy is still growing.