Health vs economy

[dmlfarmer]

Lots of claims on here Canada's economy is toast. Lots of claims the response to Covid has destroyed the economy without providing any health benefits. Lots claim Canada is the worst in the world. The tradeoff between health and economy and the impact of lockdowns discussed in Financial Post column:

https://financialpost.com/opinion/2020-hindsight-george-fallis-scoring-canadas-covid-fight-over-its-first-three-rounds-of-six https://financialpost.com/opinion/2020-hindsight-george-fallis-scoring-canadas-covid-fight-over-its-first-three-rounds-of-six

For those of you too busy to read the analysis, a look at this included chart gives a quick overview of how Canada compares to other 1st world nations

[burnt]

Lots of claims on here Canada's economy is toast. Lots of claims the response to Covid has destroyed the economy without providing any health benefits. Lots claim Canada is the worst in the world. The tradeoff between health and economy and the impact of lockdowns discussed in Financial Post column:

https://financialpost.com/opinion/2020-hindsight-george-fallis-scoring-canadas-covid-fight-over-its-first-three-rounds-of-six https://financialpost.com/opinion/2020-hindsight-george-fallis-scoring-canadas-covid-fight-over-its-first-three-rounds-of-six

For those of you too busy to read the analysis, a look at this included chart gives a quick overview of how Canada compares to other 1st world nations

[ATTACH]7366[/ATTACH]

Makes it a bit more readable?

[dmlfarmer]

thankyou burnt

[Taiga]

So we are the 4th worst country by GDP, what is your point exactly? Does it sound better to you to say we came in 16th out of 20 countries. Are you saying coming in 4th last out of 20 countries is a soaring success?

[dmlfarmer]

So we are the 4th worst country by GDP, what is your point exactly? Does it sound better to you to say we came in 16th out of 20 countries. Are you saying coming in 4th last out of 20 countries is a soaring success?

First, it is change in GDP, not GDP.
Second you are only looking at GDP. The article looks at the trade off between health and economy and the impacts of regulations. Australia locked down faster and harder than Canada and responds quickly in any outbreak and as a result have a death rate per million of 1/8th of Canada yet change in GDP was still -3.8%. compared to Canada of -4.6%. Statistically not even significant.
On the other hand, Sweden which did not lock down had double the death rate of Canada and still a GDP change of -3.0% New Zealand with the strictest lockdowns of all had the least deaths and least change in GDP. Britain had biggest negative change in GDP and triple the death rate. So to see only one criteria in this chart is very narrow minded. Read the analysis

[tubs]

gdp is a false narrative the government spent billions to try to keep the titanic afloat but it will sink as soon as the quit spending money. Think the last number I heard was 380 billion.

[Hamloc]

gdp is a false narrative the government spent billions to try to keep the titanic afloat but it will sink as soon as the quit spending money. Think the last number I heard was 380 billion.

Yes Tubs I agree. A normal Trudeau deficit is $40 billion, so if you take the additional $340 billion out of the GDP total how much has the economy actually shrunk? DML where is your so called B.S detector today?!

[dmlfarmer]

Yes Tubs I agree. A normal Trudeau deficit is $40 billion, so if you take the additional $340 billion out of the GDP total how much has the economy actually shrunk? DML where is your so called B.S detector today?!

Hamloc without a K are you saying Canada is the only country that increased their deficit with Covid payments? Do you think the 3 trillion the US poured into their economy already with another 900 billion in the works hasn't changed their GDP numbers? Government printing has happened in every of these countries and to try and make a case that it somehow only effects Canada GDP is a red herring. If there is BS here it is you and tubs trying to change the numbers of Canada only.

[Austrian Economics]

There's not much to the article in terms of analysis or profound insight. The author is shilling for the one-trick pony that we've seen so much of: if Covid cases go up, it can only be because the lockdowns were not severe enough. So we need to lock down again. And again. Wash, rinse and repeat.

GDP numbers are largely meaningless in terms of the health of the economy. Government borrowing, no matter what it is spent on, adds to GDP. You could pay some people to dig holes, and others to fill them in, and GDP would go up.

We will soon be caught up in a wave of retail bankruptcies that will swamp the ability of any level of government to deal with.

[Hamloc]

Hamloc without a K are you saying Canada is the only country that increased their deficit with Covid payments? Do you think the 3 trillion the US poured into their economy already with another 900 billion in the works hasn't changed their GDP numbers? Government printing has happened in every of these countries and to try and make a case that it somehow only effects Canada GDP is a red herring. If there is BS here it is you and tubs trying to change the numbers of Canada only.

Dml I can’t speak for Tubs but in my case my outlook is very simple, and your correct for pointing this out, every country has increased their deficit, my question is this after you filter out what the government spending added to the GDP numbers what is left of the actual economy? You always claim your trying to filter out the B.S, well really every countries GDP numbers right now are B.S!

[VK58]

Dml I can’t speak for Tubs but in my case my outlook is very simple, and your correct for pointing this out, every country has increased their deficit, my question is this after you filter out what the government spending added to the GDP numbers what is left of the actual economy? You always claim your trying to filter out the B.S, well really every countries GDP numbers right now are B.S!

GDP numbers are used to justify their financial decisions, if the numbers were only for "productive GDP" then it would be a far better indicator of the health of the national economy.

[jazz]

Yes this is very healthy indeed.

https://www.narcity.com/en-ca/eat-drink/canadian-restaurant-closures-reach-10000-in-2020-the-job-loss-numbers-are-shocking Canada Has Said Goodbye To Over 10,000 Restaurants Who Shut Down Forever In 2020

80% of Canadas GDP is govt deficit spending in the last 9 months.

[Oliver88]

Yes this is very healthy indeed.

https://www.narcity.com/en-ca/eat-drink/canadian-restaurant-closures-reach-10000-in-2020-the-job-loss-numbers-are-shocking Canada Has Said Goodbye To Over 10,000 Restaurants Who Shut Down Forever In 2020

80% of Canadas GDP is govt deficit spending in the last 9 months.

Trudeau is the only leader of a country intentionally killing the energy sector which pays for social services across the country.

What point is this thread trying to get across? Dmlfarmer tells us he isn’t a Liberal?

[jazz]

Yes this is very healthy indeed.

https://www.narcity.com/en-ca/eat-drink/canadian-restaurant-closures-reach-10000-in-2020-the-job-loss-numbers-are-shocking Canada Has Said Goodbye To Over 10,000 Restaurants Who Shut Down Forever In 2020

80% of Canadas GDP is govt deficit spending in the last 9 months.

Read that article closer. 10,000 restaurants closed up which equates to nearly 800k people losing jobs or having hours drastically cut.

Thats just restaurants. Says nothing about other businesses like gyms or other small retail outlets that have been cannabalized by Amazon and Walmart. One of the original stats in the summer was 100k small businesses throwing in the towel. Thats 2 lockdowns ago.

Nobody is going to try to start a business in this country again. Capital both human and monetary is being destroyed in front of your eyes. You are a 50 some yr old business owner, are you going to be gung ho to go try and rebuild in the shadow of Amazon? Hell no, cut your losses and move to kelowna. Your kid can work for Skip the Dishes I guess.

See what farmers think of a few yrs of carbon taxation and great reset policies coming our way.