Canadas GDP

[blackpowder]

Cannot agree more.
The most alarming fact is that no one is alarmed.

[Guest]

My greatest concern is that much of the drop in GDP is the result of the shutdown and/or downsizing of productive businesses impacted by the lockdown. Most of these businesses were producing goods at a profit that consumers demanded and actually had the means to pay for. Now that Naomi Klein is effectively running the country, this productive business activity will be replaced by money-losing "green" concerns that churn out goods at a loss for consumers who would prefer not to buy them if allowed to objectively evaluate their choices.

The government's reaction to the pandemic at all levels has been to borrow and destroy staggering amounts of productive capital. They are basically paying some people to dig holes and others to fill them in. Because of the current definition of GDP, would count as growing the economy, and they are just getting started. The CERB cheques and the obsession with Universal Basic Income are evidence of this.

exactly , why not build , rail lines , roads , infrastructure ????????
put people to work progressing canada?

[ajl]

Comparing the canuckistani and US economies is comparing an apple to an orange. As Austrian alluded to there is far too much government activity included in the GDP figure of canuckistan vs the US. There is some in the US figure to be sure, but there is next to nothing left of the real economy in canuckistan. You have to ask yourself if what you are producing is something a willing consumer would chose to buy and is the price set in a free market environment. So food production for most part is in but a tax audit is not included in the real economy. Neither is most of the activity of lawyers, accountants, compliance officers etc.

[furrowtickler]

And under the financial genius of Trump the second quarter GDP in the US dropped by 32.9%, the worst ever quarter in the US. https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter Third quarter coming up and likely worst than Canada's due to second wave of Covid hurting US more than Canada.

We live in Canada , who cares if the US is better or worse ...
we have a major problem here as well , why not admit it instead of “ya but Trump ... “
Talk about zero credibility when the only response is “ya but Trimp “