Despite its shortcomings, Canada is not an economic basket case​

[sumdumguy]

Why any sane peoplekind would kill the goose that lays a golden egg is beyond me. Total lunacy to kill Carbon the element that drives life itself. I guess they are masochists.

[rumrocks]

This guy is bang on, Canada is intentionally strangled by red tape and bureaucracy.


understand why Canada is taking in so many immigrants you need to take a closer look at the Canadian economy ( or lack of ).
Canada is a bankrupt country where the only path to wealth creation is real estate, no booming industries , no business investments, capital flight etc… Canada has been in recession since 2018 but has avoided negative GDP growth through massive immigration, by scamming immigrants from all over the world. The government knows that there aren’t any jobs and the only way to keep the Ponzi scheme going is to bring in immigrant scam them out of their life savings. Take a look at the IRCC YouTube channel and you’ll see how they are false advertising Canada. the only path to wealth creation in this country is real estate , immigration industry and that’s it really. The government makes hundreds of millions in application fees, schools makes billions through tuition fees so they can pay the over inflated salaries of their DEI staff , landlords have endless supplies of tenants and whatever little industry is left has access to cheap labour so they can remain profitable.
The United States has an economy, Germany has an economy Sweden and the Netherlands have economies , an actual economy, Canada doesn’t , what is has is an illusion of an economy. Selling houses to each other back and forth isn’t a very smart economic strategy. Canadian economic snapshot in 2022 : real estate was valued at $267 billion followed by manufacturing $193B , natural resources $160B and finally financial services and insurance at $150B. Of course we have secondary industries such and money laundering worth $150B and our fastest growing industry right now is Auto theft but the numbers aren’t out yet on that one.
Money laundering is almost equal to our natural resources industries. That’s a disaster!
I wish our economists and politicians stopped comparing stats between Canada and the US
Canada and the United States, share a border, speak the same language and ford f150 is the number one vehicle sold in both countries that’s where the similarities ends. I moved to the U.S. in 2022 and after working professionally for quit some time now I can tell you that the two countries are not similar so stop comparing the two. As I said America has an actual economy, Germany has an economy but Canadian economy is just a Ponzi scheme being presented as an economy.
First of all Americans love taking risks and have a very high risk tolerance while Canadians are very risk avers , secondly Americans see the government as an obstacle to getting things done while Canadians see the government as an institution to get things done. Canadians core identity is “we are not Americans” or “canada is America’s nicer sister” or other phrases to that effect.
Let me illustrate that:
America is the number one destination for foreign direct investments, in every industry imaginable Americans are either the largest player or one of the largest. Aviation, defense , R&D, tech, agriculture and agribusiness, financial services , insurance, real estate, construction, pharmaceutical, transportation, engineering, retail , wholesale, telecom and the list goes on and on. How many Americans companies are there that have a global presence ? GM, ford , Microsoft , Raytheon , Texas instrument , Apple, Amazon, DeWalt , Milwaukee, Dell , IMB , Google , Tesla , Meta, Boeing , General Electric, general dynamics, the list is endless… For every letter of the alphabet you can find at least 10 major companies that start with that letter.
Remember what I said earlier about risk taking ? America is a startup nation because of that spirit. When they have an idea they have the guts to go after that idea and if they go bust it is part of the game , they accept it and start over again.
Meanwhile Canadians only invest in real estate, because the system is risk averse, getting funding to startup anything other than buying real estate is very difficult. Every sector has a few players who are fiercely protected by the government and endless regulations, red tape and hostility to discourage any attempt to break into that sector.
As I mentioned before Canada’s largest economic sector is Real estate valued at $267 billion dollars, in comparison oil and gas and mining only generate $160 billions annually, heavily underutilized and penalized. Canada is an oligarchy economy, where every sector has a couple of players that are protected by government , hostile to competition , hence the high prices we pay for everything such as telecom , air travel , car insurance , groceries, internet etc…
In comparison Israel, a nation of 8 million people has 9 telecom companies, has the second highest number of startups per capita behind the United States, and their GPD per capita is soon to surpass that of Canada !
United States economy is a different animal altogether. Let’s use Sweden for example now , how many famous Swedish brands are there: Spotify , H&M, IKEA, Bofros, Saab, Volvo, Scania, Electrolux, Ericsson, Sweden is a an export oriented economy. The Netherlands is another example, it is 1/40 of Ontario , yet it produces 14 million tons or cow milk vs Canada 10.3 million tons, it is the 10th largest producer of potatoes in the world 6 million tons ( a country that’s 40 times smaller than Ontario ), Randstad one of the world largest HR firms is also a Dutch company, Shell is another Dutch company a major global oil and gas player.
In 2023, one in ten Dutch enterprises (13%) brought new goods, processes, or services to the Dutch or global market.Majority of Dutch firms are also more technologically oriented than EU peers – almost eight out of ten Dutch firms (78%) employed at least one digital technology in 2023.
Do we even need to talk about Germany ?
Canada would have been a second or even third tier economy, on par with Romania , Albania and Bulgaria maybe even Venezuela ! if we didn’t have the United States as our neighbor. In Canada we can’t even build homes without screwing things up ! A nation of mediocrity and underachievers, no wonder every other country is over taking us. Canadian economy is stuck in the late 90s and refusing to adapt and evolve.?

[cropgrower]

what will it take to get the criminal thieves convicted ?

[sumdumguy]

Hmmm, I wouldn’t bet on RCMP even opening the box.

[jazz]

This guy is bang on, Canada is intentionally strangled by red tape and bureaucracy..?

That is bang on, but he misses the reason why. If Canada were to realize its potential, that means opening up our resource sector much more. Doing that would flow power away from Ottawa and into Sask/Ab. Alberta would have 14m people, not Ontario and Quebec and we cant have that.

The economy of Texas is as large as Canada and they have a smaller population.

[chuckChuck]

So how is little PP going to bring down the price of houses especially when most house owners really like high prices when they retire and sell?

He is going to cut taxes and program and supports to low income earners that will cut jobs.

He has made it clear that he prefers to support well off Canadians with reducing the capital gains inclusion rate for gains over $250,000.

Just like Trump cut taxes for the rich.

So how does this square with his lie he is going to take of low income low net worth Canadians?

[AlbertaFarmer5]

From the article rum rocks posted:

Canada doesn’t , what is has is an illusion of an economy. Selling houses to each other back and forth isn’t a very smart economic strategy.

Hits the nail on the head.
Why anyone would celebrate this illusion of an economy is beyond me.

Apparently forage is not going to defend his economic theory that selling houses to each other will increase our economic productivity.

[AlbertaFarmer5]

So how is little PP going to bring down the price of houses especially when most house owners really like high prices when they retire and sell?

He is going to cut taxes and program and supports to low income earners that will cut jobs.

He has made it clear that he prefers to support well off Canadians with reducing the capital gains inclusion rate for gains over $250,000.

Just like Trump cut taxes for the rich.

So how does this square with his lie he is going to take of low income low net worth Canadians?

Chuck, for future reference, when you are responding to the voices in your head, it would be much appreciated if you could post both sides of the conversation so we know the background of the argument you are having with yourself. When you only post one side and it has no relevance to the topic at hand, it is confusing.
Out of the blue you started talking about Pierre Pollievre and capital gains tax.
I get the impression you are losing an argument with yourself about the leader of the opposition, and you decided this was the best thread to post a response to the voices in your head. But for those of us who missed the rest of the conversation, can you fill us in?

[jazz]

Canada has started swirling the bowl. 129% debt to gdp is the economic death rattle.

[fjlip]

The gallows for those causing the collapse!

[WiltonRanch]

Chuck, for future reference, when you are responding to the voices in your head, it would be much appreciated if you could post both sides of the conversation so we know the background of the argument you are having with yourself. When you only post one side and it has no relevance to the topic at hand, it is confusing.
Out of the blue you started talking about Pierre Pollievre and capital gains tax.
I get the impression you are losing an argument with yourself about the leader of the opposition, and you decided this was the best thread to post a response to the voices in your head. But for those of us who missed the rest of the conversation, can you fill us in?

Typical squirrely Sask ndp. I will give Chuck credit though for calling bs on earth muffins nonsense on other social media. The position he takes here in supposed anonymity is a far cry different when an actual name and identity is associated.

[sumdumguy]

If Chuck can’t see the writing on the wall, he is just plain dense. It can’t be clearer that the charts posted. He can’t be that dense!

[shtferbrains]

The economy of Texas is as large as Canada and they have a smaller population.

Canada and Texas each produce about 5.6 MBD of oil.

The world production is about 100 MBD + for easy figuring.

Canada has the 3rd largest reserves in the world but only produces 5.6% of world production.

All the oil produced in the world has a buyer.

To some it would appear we may have a competitive advantage in that market?

But some say;

[jazz]

Like to see chuck refute this chart. This shows the exodus of capital from Canada in the last decade. Everyone is investing in the US.

[rumrocks]

Like to see chuck refute this chart. This shows the exodus of capital from Canada in the last decade. Everyone is investing in the US.

Bell is a good example, they shovel money hard to keep competitors out of their club.