GDP lagging

[shtferbrains]

https://www.visualcapitalist.com/mapped-gdp-per-capita-worldwide/

I find this article that places my Canada at #19 in GDP per capita very disappointing.

We are now comparable to a rotting old socialist France.
I bet Mr Treudau sees that as about right.

Australia is # 11. The only advantage they have is better government.

We used to be very comparable to Denmark in many ways. They are still top 10.

Where do we go from here

[burnt]

Rhetorical question. Or maybe you answered it by way of mentioning the reason for Australia's performance.

[bucket]

Canada has oil, gas, wheat, durum, canola, barley, potash, rare elements, gold, etc etc etc

What we don't do is process to a higher value very well.

And we are losing ground . Why???????????????

What company doesnt want to come to Canada , even with Trudeau as leader, with the safety of building here.

[ajl]

The top reasons why value added has never been a big thing is that we are far away from major markets and the government wastes most peoples' time by employing them for political purposes resulting in a perpetual labor shortage.

[WiltonRanch]

The value added conundrum reminds me of the story about the mice wanting to put a bell on the cat’s neck. They had a great idea but no one would do it.

[bucket]

The top reasons why value added has never been a big thing is that we are far away from major markets and the government wastes most peoples' time by employing them for political purposes resulting in a perpetual labor shortage.

I don't know, Quebec just shitcanned using western Canadian natural gas into LNG so where is the win for that.

The other thing is something like potash that is produced within driving range of alot of farms and yet its priced so its not used . Same with the originally government funded saskferco and now we pay NOLA prices.

It costs about 150 bucks a tonne to get potash into a rail car. Not much more for urea at Belle plaine

[blackpowder]

Believe i read years ago that certain large foreign investment funds canned Canada. Too slow, regulated, disorganized, over governed, over taxed.

General public oblivious.
Trudeau so close to his dream.

[jazz]

Where do we go from here

I think you know that Canada peaked under Harper and its straight downhill from here.

Canada has been masquerading as a G7 country for some time. We will be something akin to a G30 or something as there are half a dozen countries that will over take us mostly due to population disparity.

[Hamloc]

Actually quite interesting when you look at it. Certain countries surprised me. Ireland and Switzerland both small countries by land base, both had roughly double the GDP per person that Canada does. Ireland population roughly 4.9 million people, not many more than Alberta, certainly makes one think!

Australia fascinates as well, I have relatives that live there. In some ways a very demanding climate.

[bucket]

Actually quite interesting when you look at it. Certain countries surprised me. Ireland and Switzerland both small countries by land base, both had roughly double the GDP per person that Canada does. Ireland population roughly 4.9 million people, not many more than Alberta, certainly makes one think!

Australia fascinates as well, I have relatives that live there. In some ways a very demanding climate.

All close to population and or easier freight advantages.

[Austrian Economics]

GDP is a completely phony means of measuring economic growth. It merely adds up all the spending in an economy. So if the government borrows to spend on subsidies and grants to money-losing boondoggles, GDP goes up. GDP does not differentiate between spending that earns a return on invested capital and spending which destroys capital.

[shtferbrains]

Believe i read years ago that certain large foreign investment funds canned Canada. Too slow, regulated, disorganized, over governed, over taxed.

General public oblivious.
Trudeau so close to his dream.

There are a variety of ease of doing buisness index's.
According to the one on wiki in around 2007 USA was #3 and Canada #4 but more recently USA dropped to #6 with Canada dropping to #23.
It appears when Mr Treudau came in 2015 we improved for a couple of year but about the time that IMHO Justin started running the country we started dropping like a rock.
Bad enough being much lower than the USA but more concerning is that we seem to be happy or oblivious of the fact we are going the wrong way.
I assume Justin doesn't even know there are indexes as he seems to consider virtue signaling as the key to attracting new industry.

I no longer consider Wiki as a reliable reference as the woke segment seems to have taken over edits.

[Hamloc]

I was just reading an interesting article by Jack Mintz in the financial post. It had a few interesting numbers that apply to this topic. In 2015 the GDP per capita in Canada was $50400 USD. That same year in the U.S. it was $52000 USD. By 2019 in the U.S. it had risen to $55900 USD. While in Canada in 2019 it had dropped to $48617, the same level as 2007. Justin Trudeau didn’t manage our economy near as well as Donald Trump in the U.S., and I was not and am not a Trump fan. Imagine our productivity is below 2007 when you consider inflation, very sad!

[AlbertaFarmer5]

GDP explained.
I collect $100 of CERB from the government for not doing or creating anything.
I pay that $100 to Jazz to do my nails.
Jazz pays that $100 to Hamloc to pick out the colors for the renovations to his Yoga studio.
Hamloc pays that $100 to Austrian Economics for a perm and color.
AE pays $100 to ajl for a leg wax.
ajl hires Wilton Ranch to polish his Dodge Neon for $100
Wilton hires Burnt to hem his new dress for $100
burnt pays shtfrbrains $100 to babysit his kids
Who pays blackpowder $100 to choose curtains for his powder room.
Who spends it at Walmart on Chinese junk.

We have just added $1000 to GDP, without creating or value adding, or exporting or extracting anything, in the end it was a transfer to a foriegn country, and every step of the way there was leakage.

GDP is completely meaningless.

[jazz]

GDP is completely meaningless.

Hence Canadas largest contributor to GDP is financing and selling houses to each other.