Canada's Economy Surging ahead.

[CITIZEN_2015]

While Canada had the slowest economic growth during the Harper years latest economic data shows rapidly growing economic growth in combination with low inflation.

GDP rose by 3.7% in the first quarter of 2017 and accelerating as yet Canada's economy grew by 0.6% for the month of May alone, not to mention a consumer price index of only 1% and an unemployment rate of only 6.5%. Both domestic consumer spending and capital investments are rising while Canadian dollar rising as well. All signs indicate solid economy which may not be necessarily good news for borrowers as interest rates rising too by confident Bank of Canada but definitely good for the country. 

[Argus]

39 minutes ago, CITIZEN_2015 said:

While Canada had the slowest economic growth during the Harper years latest economic data shows rapidly growing economic growth in combination with low inflation.

Canada had superior economic performance to all our G7 partners during much of the Harper years. It only slowed towards the end as world commodity and energy prices dropped heavily.

The truth is government can't do a lot to impact our economy except through taxation policy and how much red tape it imposes on business. And the Liberal government has been raising taxes and imposing more and more red tape on business, especially on the resources sector. Provincial governments have been doing the same. That is being more than offset at the moment by higher world energy and commodity prices, but as the cost of doing business in Canada continues to rise I expect our economy to underperform.

39 minutes ago, CITIZEN_2015 said:

. All signs indicate solid economy which may not be necessarily good news for borrowers as interest rates rising too by confident Bank of Canada but definitely good for the country. 

If you think our dollar rising 10% is good for the economy you don't understand how our economy works.

[CITIZEN_2015]

I didn't say rising dollar is a good thing for Canadian economy though it is a SIGN of strong economy (to back up my post on rapid economic growth). In fact our export sector already slow will be hurt even more.

The government can create the environment and confidence in the economy and hence spur consumer confidence and investments and that is what Trudeau government has done and likely why economy is in much better shape than Harper years. Harper government obsessed with eliminating the deficit (for its own political reasons as per promise it made to balance the budget by the end of its term) killed the confidence in economy and hence what was followed a recession at the end of its term

Edited July 29, 2017 by CITIZEN_2015

[-1=e^ipi]

There are always random fluctuations in the economy. Even with a bad government you will have a month with good growth and with a good government you will have a month with bad growth. Also, it might make more sense to look at relative output rather than the growth rate since the growth rates of countries will tend to converge (a country can't have a lower growth rate indefinitely, eventually the catch-up effect becomes too large).

 

Also, if you want to do proper growth or output attribution, you want to take other factors into account (such as interest rates, oil prices & provincial governments).

 

Pakistan has a higher rate of growth than Canada. However, that doesn't mean that the people in charge of Pakistan are better at managing the economy than the people that run Canada.

[-1=e^ipi]

6 hours ago, CITIZEN_2015 said:

I didn't say rising dollar is a good thing for Canadian economy though it is a SIGN of strong economy

It's a sign of the Bank of Canada raising interest rates.

 

The Bank of Canada can't have zero interest rates forever.

[CITIZEN_2015]

dollar rose before interest rates went up by 0.25% to 79 US on the signs of strong economy and Bank of Canada raised the rates because of all the signs that economy is in good shapes by economic numbers which are being released past few months like GDP and Employment growth. Btw, the rate was at 0.5% not zero.

[Argus]

17 hours ago, CITIZEN_2015 said:

I didn't say rising dollar is a good thing for Canadian economy though it is a SIGN of strong economy (to back up my post on rapid economic growth). In fact our export sector already slow will be hurt even more.

Actually the rise in our dollar is more related to a lack of confidence in Tump, and the weakness of the US dollar, than anything else.

17 hours ago, CITIZEN_2015 said:

The government can create the environment and confidence in the economy and hence spur consumer confidence and investments and that is what Trudeau government has done and likely why economy is in much better shape than Harper years. 

Except the economy is NOT in much better shape than in the Harper years. It's just in better shape than the last year or so where oil and commodity prices were sinking. And the government can excude all the confidence it wants. That's not going to make up for higher taxes, higher electricity costs, higher labour costs, and massive red tape standing in the way of resource development.

[Argus]

3 hours ago, CITIZEN_2015 said:

dollar rose before interest rates went up by 0.25% to 79 US on the signs of strong economy

Most currencies have risen compared to the US$ this year. The Euro, despite all the concerns of Brexit and other national elections which threaten to break up the EU is up 9% against the US$ this year.

[drummindiver]

18 hours ago, CITIZEN_2015 said:

I didn't say rising dollar is a good thing for Canadian economy though it is a SIGN of strong economy (to back up my post on rapid economic growth). In fact our export sector already slow will be hurt even more.

The government can create the environment and confidence in the economy and hence spur consumer confidence and investments and that is what Trudeau government has done and likely why economy is in much better shape than Harper years. Harper government obsessed with eliminating the deficit (for its own political reasons as per promise it made to balance the budget by the end of its term) killed the confidence in economy and hence what was followed a recession at the end of its term

Shaddap about Harper being obsessed for political reasons. Your Liberals took it to satanic levels.

https://www.policyalternatives.ca/publications/monitor/beware-canadian-austerity-model

[drummindiver]

Thanks, Liberals. 

"Canada stands out among the OECD countries for reducing deficits and debts through deep and permanent cuts to social programs and public services, at great cost to working families."

 

[CITIZEN_2015]

3 hours ago, drummindiver said:

Shaddap about Harper being obsessed for political reasons. Your Liberals took it to satanic levels.

https://www.policyalternatives.ca/publications/monitor/beware-canadian-austerity-model

I voted for Mulroney in 1988 though his failure on Meech Lake Accord and disastrous economy he left us by 1993, I voted for Liberals afterwards.

Paul Martin's cuts were the necessary evil at the time. Canada would have remained in recession forever with rising deficits in a vicious circle of higher deficits and unemployment exactly the way it performed between 1882 to 1992. There was no such evil in 2012 other than getting Harper re--elected 3 years later which fortunately did not happen because of his disastrous campaign.

Edited July 30, 2017 by CITIZEN_2015

[Argus]

17 hours ago, CITIZEN_2015 said:

I voted for Mulroney in 1988 though his failure on Meech Lake Accord and disastrous economy he left us by 1993, I voted for Liberals afterwards.

I am not a fan of Mulroney, but once again you are blaming a Conservative PM for a world economic collapse which was not his responsibility. Furthermore he inherited a massive deficit created by the Liberals and was forced to pay tens of billions every day just to service that debt. Were it not for the debt load he would have had so much more room to operate back then...

Quote

Paul Martin's cuts were the necessary evil at the time. Canada would have remained in recession forever with rising deficits in a vicious circle of higher deficits and unemployment exactly the way it performed between 1882 to 1992. 

I don't disagree they were necessary evil, but no, our economy returned to normality and budgetary surplus only after the world economic recession ended, and not because of what Martin did. In fact, the return to budgetary balance owed as much to Mulroney's cuts to operating costs and his implementation of the GST as to anything Martin did.

Quote

There was no such evil in 2012 other than getting Harper re--elected 3 years later which fortunately did not happen because of his disastrous campaign.

The deficit Martin faced was because of a world-wide recession. Why then was there more urgency when we knew the recession would end and we could make cuts and get back in balance afterward? On the other hand, Harper started cutting after the recession ended, which is what you're supposed to do. Thus his cuts were nowhere near as deep or wide. They were necessary, however. If you're not going to balance the budget during good times then... just when ARE you planning on balancing the budget?

A question that might be asked of the son of the man who created Canada's deficit, both named Trudeau.

Edited July 31, 2017 by Argus

[August1991]

On 7/29/2017 at 4:39 PM, CITIZEN_2015 said:

GDP rose by 3.7% in the first quarter of 2017 and accelerating as yet Canada's economy grew by 0.6% for the month of May alone, not to mention a consumer price index of only 1% and an unemployment rate of only 6.5%.... 

Our GDP numbers are remarkable. And I think "sunny ways" have an effect.

As to our unemployment rate,  as Tip O'Neill said: "Politics are local." - Translated into Canadais: "Federal politics are provincial."

[PIK]

On 7/29/2017 at 7:07 PM, CITIZEN_2015 said:

I didn't say rising dollar is a good thing for Canadian economy though it is a SIGN of strong economy (to back up my post on rapid economic growth). In fact our export sector already slow will be hurt even more.

The government can create the environment and confidence in the economy and hence spur consumer confidence and investments and that is what Trudeau government has done and likely why economy is in much better shape than Harper years. Harper government obsessed with eliminating the deficit (for its own political reasons as per promise it made to balance the budget by the end of its term) killed the confidence in economy and hence what was followed a recession at the end of its term

Just wait till the full effect of carbon pricing and higher corporate taxes take over, then you willl see the numbers drop. Billions of investment dollars have already left the country.

[Argus]

1 hour ago, PIK said:

Just wait till the full effect of carbon pricing and higher corporate taxes take over, then you willl see the numbers drop. Billions of investment dollars have already left the country.

Not to mention the new Liberal approval process for the resource industry. Want to open a new mine? Want to build a pipeline or explore for oil? Here's this seventeen million page form for you to fill out. After that you can look forward to ten years of hearings and will be required to placate every native group living within two thousand miles of the project and pay a fine for intruding into our pristine wilderness equivalent to 110% of any gross profits you might otherwise have made. Then, if cabinet agrees (better start making donations now) you can start work.

[Cum Laude]

2 hours ago, Argus said:

Not to mention the new Liberal approval process for the resource industry. Want to open a new mine? Want to build a pipeline or explore for oil? Here's this seventeen million page form for you to fill out. After that you can look forward to ten years of hearings and will be required to placate every native group living within two thousand miles of the project and pay a fine for intruding into our pristine wilderness equivalent to 110% of any gross profits you might otherwise have made. Then, if cabinet agrees (better start making donations now) you can start work.

I had given up on the Canadian people waking up for the longest time. The vast majority of them seemed fine with the whole scam of the system because they all thought that their boat was coming in soon. If they just worked hard enough, they too would be welcomed into the predators’ den with open arms, then they could prey on those beneath them. That carrot was hung out for decade after decade and generations of people bought into it. These days the carrot has rotted away and people are now seeing it’s just a string. Many still haven’t looked up the string then down the pole to see who is holding it. But they are at least realizing that the story they bought was bullshit. Well, many more than in the past.

We will see if the realization of the Canadian Dream’s demise reaches a critical mass. Then, if it does reach critical mass, will it turn into anger or apathy. I would venture that if there was a way to just drop out of this parasite-laden system, many would choose that option. But thus far the parasites have a tight hold on their hosts. That hold may slip in the years ahead. I am watching, waiting and trying to stay ahead of, and away from, The Mob. For when The Mob starts moving, that is when things could get really ugly and happen quickly.