Canada has been in recession for over a decade. It has just been masked by mass immigration. Do the math yourself, look at population growth, take that percentage, subract it from GDP growth. It's right there in front of your eyes.
🇨🇦: Ontario's internal auditor is only activated over gov corruption. None of your business, says that same gov.
Remember in 2022 when I made a stink over Toronto's corruption? ON gov blocked 3rd party municipal audits a few months later.
Kids. Run.
https://t.co/CmkD8EQGws
@RichardDias_CFA Wait, are you saying all our growth over the past 10 years was to immigrants borrowing our money for mortgages with fake income? 😬🤯😬🤯😬🤯😬🤯
Can't believe I'm about to defend Carney, but it has to be said. Blaming him for this past year of weak-to-zero growth is dumb.
The past 10 years of Canada's GDP growth have been 'fake'. It was due to immigration, which accounted for 75% of the growth in headline real GDP.
Carney has ended the open-borders experiment, which is a good thing, and I applaud him.
But that means that growth will be tied to productivity growth, which is in the toilet. Canada's productivity growth is in the toilet, in part because of many of the policies Carney championed, namely, the destruction of the global fossil fuel industry. If you are going to slag him off, I implore you to be more precise.
BREAKING 🚨: Canada
Canada's economy shrank in Mark Carney's first year as prime minister—the worst economic start for any Canadian PM in over 60 years 🤯 👀
🚨 David Rosenberg predicts the Canadian dollar could collapse to just 62 cents USD.
That would be its lowest level in 24 years — back to 2002 lows.
From the 2021 highs, this would erase a full 25% of its value 👇
I’ve had many owners who bought in 2021/22 contact me over the past couple of years who’re under water and looking for a miracle
Lately I’m seeing 2023/24 and even 2025 purchasers who thought they bought a deal but are trapped and can’t get out
This is far from over