Canada set to be fastest growing economy in G7 in 2025, IMF forecasts

[Guest]

2 hours ago, Zeitgeist said:

Well isn’t it interesting that we didn’t have as many of these problems when our taxes were lower, our government was smaller, our public spending was lower, and our government borrowed less?

Reminds me of someone I know who bought a half a million dollar home, a luxury vehicle and makes a fraction of my salary. 

They literally loaned, credit carded and BSed their way into having enough to get it done.

Litterally bankrupting themselves and causing their divorce. To their shock, may I add.

[Zeitgeist]

14 minutes ago, Perspektiv said:

Reminds me of someone I know who bought a half a million dollar home, a luxury vehicle and makes a fraction of my salary. 

They literally loaned, credit carded and BSed their way into having enough to get it done.

Litterally bankrupting themselves and causing their divorce. To their shock, may I add.

Well that’s been the moral hazard of cheap credit.  The federal Liberals cashed in all the chips of previous responsible governments then borrowed big from the casino to up the ante.  Now the next generation is saddled with greater debt servicing charges, which means they’ll have less money for all the services that the socialists borrowed money to implement.  It’s all about winning votes today and leaving the mess for others to clean up.  Poilievre calls it a dumpster fire, which it is.  

Edited July 19, 2024 by Zeitgeist

[Dougie93]

1 minute ago, Zeitgeist said:

Well that’s been the moral hazard of cheap credit.  The federal Liberals cashed in all the chips of previous responsible governments then borrowed big from the casino to up the ante.  Now the next generation is saddled with greater debt servicing charges, which means they’ll have less money for all the services that the socialists borrowed money to implement.  It’s all about winning votes today and leaving the mess for others to clean up.  Poilievre calls it a dumpster fire, which it is.  

money printing is a hidden tax upon the working & middle classes

[ironstone]

On 7/18/2024 at 6:26 AM, BeaverFever said:

Canada set to be fastest growing economy in G7 in 2025, IMF forecasts

Latest outlook puts this country ahead of United States and United Kingdom

Published Jul 17, 2024  •  Last updated 15 hours ago  •  3 minute read

The International Monetary Fund is upgrading its forecast for the Canadian economy, projecting it will now grow by 1.3 per cent this year and by 2.4 per cent in 2025, according to a report released Wednesday.

In both readings, the forecasts were increased by one-tenth of a percentage point from the IMF’s initial world economic outlook released in April.

For 2025, Canada is projected to be the fastest growing economy among the G7 and other advanced economies. The U.S. economy will rank second at 1.9 per cent and the U.K. third at 1.5 per cent growth next year.

The projection for global growth remains the same at 3.2 per cent this year, and slightly higher for next year at 3.3 per cent, revised up from 3.2 per cent growth projected in April.

https://financialpost.com/news/imf-forecasts-canada-fastest-growing-economy-g7-2025

Clearly, Trudeau is to blame. Right?

I think August is right, it's mainly our massive population growth that hides the real picture.

https://www.bnnbloomberg.ca/business/economics/2024/07/19/population-growth-masked-canadas-recession-like-economic-backdrop-rbc/

Though Canada’s economy is not technically in a recession, economists say it “feels like one,” given the current economic circumstances, as high population growth prevented an economic contraction.

Nathan Janzen, RBC assistant chief economist, and RBC economist Carrie Freestone said in a report Wednesday that as per-person output is declining in Canada’s economy, population growth “prevented outright declines in Canada’s gross domestic product (GDP).” The report notes that this is occurring alongside unemployment rate increases that would be expected in a typical recession.

“Higher interest rates alongside decades-high inflation in 2022-23 ate away at household purchasing power. Weaker demand spurred a rise in the unemployment rate of a size that historically only happens in recessions,” the report said.

“But decades-high population growth has masked this recession-like economic backdrop. Canada has added 2.1 million additional consumers since mid-2022.”

[CdnFox]

The cause of our financial hardships has been known for a while. 

Basically inflation/interest (essentially two sides of a coin),  high taxes/red tape  coupled with very low and now negative business investment. 

The vast majority of these problems are a direct result of Trudeau's spending and immigration. Most of what remains is a result of excessive bureaucracy at various levels of the government.

Panchudo has sent a clear message to business that it is not welcome here. And it has taken that message and for the very first time in history it is leaving Canada. We are seeing business investment not just slow down as it has in the past but actually go into negative numbers as the investment dollars leave the country.

That lowers productivity, that lowers quality of life, that lowers government revenues per capita, it lowers GDP per capita, in short it is a general decline in our country. The solutions are relatively simple, but they're not going to happen overnight

[Zeitgeist]

2 hours ago, CdnFox said:

The cause of our financial hardships has been known for a while. 

Basically inflation/interest (essentially two sides of a coin),  high taxes/red tape  coupled with very low and now negative business investment. 

The vast majority of these problems are a direct result of Trudeau's spending and immigration. Most of what remains is a result of excessive bureaucracy at various levels of the government.

Panchudo has sent a clear message to business that it is not welcome here. And it has taken that message and for the very first time in history it is leaving Canada. We are seeing business investment not just slow down as it has in the past but actually go into negative numbers as the investment dollars leave the country.

That lowers productivity, that lowers quality of life, that lowers government revenues per capita, it lowers GDP per capita, in short it is a general decline in our country. The solutions are relatively simple, but they're not going to happen overnight

Yes, and I would say that the only way back to serious wealth, productivity, and upward mobility is for a radical reduction in red tape, taxes, and government bureaucracy.  What is the value of maintaining monopolies and duopolies that overcharge customers for cell phones, internet, cable, energy, etc.?  The lack of competition and suppliers caused by our regulations and regulators like the CRTC is stifling our economy.  The top-town climate action plans and environmental assessment endless consultations (with the elders???) is laughably ridiculous.

China is 3 D printing infrastructure and manufacturing our goods with dirty coal as we wring our hands over gender pronouns and the patriarchy.  Canada has become a clownish fop on the world stage.  We can’t even spend allocated money for planned military equipment procurements.  We’ve created a useless massive overpaid government managerial class that doesn’t know how to do anything except hire consultants.

Edited July 19, 2024 by Zeitgeist

[CdnFox]

1 hour ago, Zeitgeist said:

Yes, and I would say that the only way back to serious wealth, productivity, and upward mobility is for a radical reduction in red tape, taxes, and government bureaucracy.

That is probably true for the most part. 

 

Quote

What is the value of maintaining monopolies and duopolies that overcharge customers for cell phones, internet, cable, energy, etc.?  The lack of competition and suppliers caused by our regulations and regulators like the CRTC is stifling our economy.  The top-town climate action plans and environmental assessment endless consultations (with the elders???) is laughably ridiculous.

I've heard it argued both ways - i've heard it said that as a country you don't want to lose your ability and independence when it comes to communication, food and content.  I can see that argument, if we're reliant on the US for those things it could put us in a bad position one day.  But the fact is it DOES cost a lot more and there's probably ways to guarantee we don't get wiped out without the level of protectionism we have toady. 

 

 

Quote

China is 3 D printing infrastructure and manufacturing our goods with dirty coal as we wring our hands over gender pronouns and the patriarchy.  Canada has become a clownish fop on the world stage.  We can’t even spend allocated money for planned military equipment procurements.  We’ve created a useless massive overpaid government managerial class that doesn’t know how to do anything except hire consultants.

Without a doubt.   And even at the municiple level it's a mess.  3 years to get projects approved in areas already zoned for it? hundreds of thousands of dollars just for inspections and compliance that has to get passed on to the consumer?   ANd zero effort for provnicial -federal cooperation when it comes to making sure our population immigration growth is supported by infrastructure growth on the ground (houses, hospitals etc). 

[CdnFox]

Population growth ‘masked’ Canada’s ‘recession-like economic backdrop’: RBC – BNN Bloomberg

Population growth ‘masked’ Canada’s ‘recession-like economic backdrop’: RBC

Nathan Janzen, RBC assistant chief economist, and RBC economist Carrie Freestone said in a report Wednesday that as per-person output is declining in Canada’s economy, population growth “prevented outright declines in Canada’s gross domestic product (GDP).” The report notes that this is occurring alongside unemployment rate increases that would be expected in a typical recession.

“Higher interest rates alongside decades-high inflation in 2022-23 ate away at household purchasing power. Weaker demand spurred a rise in the unemployment rate of a size that historically only happens in recessions,” the report said.

“But decades-high population growth has masked this recession-like economic backdrop. Canada has added 2.1 million additional consumers since mid-2022.”

Additionally, the report noted that for six of the past seven quarters, real per-person output has fallen alongside rising unemployment. According to the report, per capita GDP has fallen to 3.1 per cent below 2019 levels.

 

 

Basically we're in a recession.

[I am Groot]

On 7/19/2024 at 10:31 AM, ExFlyer said:

Yes, they are statisticians and economists.

But they are smarter than you and me and most posters here. They have the data and we only have uneducated opinions and "feelings" without data.

And once again, in your desperation to defend the Liberal government you are utterly ignoring the clearly drawn facts that the only thing they are measuring is the growth of GDP. And the growth of our GDP is 100% due to the uncontrolled arrival of millions more people over the past few years. Something certain to continue until Trudeau and his little brother are kicked out.

[I am Groot]

On 7/19/2024 at 12:19 PM, Goddess said:

It's bizarre times we live in.

The Left believes crime is the responsibility of society, not the criminal, and so does not want to punish the blameless individual. If someone is stealing or smashing things or shooting at people, it's the fault of society for its systemic racism, for not having enough community centres or for a lack of organized play sessions for children.

The Left ignores human nature. It always has. That's the basis of Communism's repeated failures. It completely ignores human nature. 

If you don't punish crime then people will commit more of it, especially people whose cultural value set was not born in Canada. 

T

Edited July 21, 2024 by I am Groot

[ExFlyer]

1 hour ago, I am Groot said:

And once again, in your desperation to defend the Liberal government you are utterly ignoring the clearly drawn facts that the only thing they are measuring is the growth of GDP. And the growth of our GDP is 100% due to the uncontrolled arrival of millions more people over the past few years. Something certain to continue until Trudeau and his little brother are kicked out.

I don't defend the liberal government at all. Thos is not left vs right. This is IMF professionals using all available date to come to a conclusion.

The IMF made the statement and I am defending them and you are in no way smarter than they are.

I think you believe you are intelligent and smarter than the IMF professionals and we know you are not, not even close. Just a zero with a political agenda LOL

Edited July 21, 2024 by ExFlyer

[CdnFox]

1 minute ago, ExFlyer said:

I don't defend the liberal government at all. Thos is not left vs right. This is professionals using all available date to come to a conclusion.

Please. You are defending that gov't by being selective about the 'facts'. 

The royal bank for example just posted that the economy and gdp has been grossly and falsely inflated by the extreme numbers of immigrants but that gdp per capita is actually way down. 

Cherry picking stats is in fact a defense.  Our economy is horrible and that is being masked by the insane levels of immigration at the moment. 

People's lives are getting worse as is their quality of life. That's where we're at. 

[ExFlyer]

14 minutes ago, CdnFox said:

Please. You are defending that gov't by being selective about the 'facts'. 

The royal bank for example just posted that the economy and gdp has been grossly and falsely inflated by the extreme numbers of immigrants but that gdp per capita is actually way down. 

Cherry picking stats is in fact a defense.  Our economy is horrible and that is being masked by the insane levels of immigration at the moment. 

People's lives are getting worse as is their quality of life. That's where we're at. 

The government did not make the statement. It came from the IMF.

The liberals can take the blame for many things but they cannot take blame or credit for an IMF statement that comes from the data and facts they have gathered.

The royal bank statement is based on their singular point of view with prejudiced and profit  to their business. The IMF could not care less about the royal bank.

Please, you are smarter than that LOL

Edited July 21, 2024 by ExFlyer

[herbie]

On 7/18/2024 at 10:52 PM, CdnFox said:

That's your brain worm, we can't do much about that

It's yout brainworm cuz you said it's our brainworm.

FFS they must've let a 9 year old program this bot. Didn't even include a learning algorithm still the original handful of programmed responses.

"You have been eaten by a Grue."

Edited July 21, 2024 by herbie

[I am Groot]

1 hour ago, ExFlyer said:

I I think you believe you are intelligent and smarter than the IMF professionals and we know you are not, not even close. Just a zero with a political agenda LOL

You're a Trudeau fan down to your socks, boy. Every time anyone criticizes anything you're rushing forward to defend them. I understand why you're embarrassed about it, but we can all see it.

[ExFlyer]

11 minutes ago, I am Groot said:

You're a Trudeau fan down to your socks, boy. Every time anyone criticizes anything you're rushing forward to defend them. I understand why you're embarrassed about it, but we can all see it.

I don't defend, I deal with facts and you have none.

Oh, I forgot...you are an economist and statistician and hacked the IMF database.

I should have known. LOL

Your political whining is getting real old LOL

[I am Groot]

Just now, ExFlyer said:

I don't defend, I deal with facts and you have none.

 

I presented the facts. You ignored them. You do that every time the facts point out what a bad choice you made in supporting Trudeau for nine long years.

[suds]

So basically you can increase a country's GDP growth by 1) increasing the productivity of the workers you already have, or 2) increasing the number of workers. But as we've found out, drastically increasing population through immigration etc, increases the GDP numbers but causes a whole host of other problems such as doctor and housing shortages.  And how does inflation, debt, and rising unemployment fit into all of this? With the situation we're in now, increasing the productivity of workers we already have seems to make more sense but it's obviously something that can't be done overnight. In the 60's, one income families were the norm and then governments have gradually encouraged women to join the workforce to increase productivity (which didn't cause things such as housing and doctor shortages). So what do we do now?

Edited July 21, 2024 by suds

[ExFlyer]

1 hour ago, I am Groot said:

I presented the facts. You ignored them. You do that every time the facts point out what a bad choice you made in supporting Trudeau for nine long years.

groot, you presented diddily squt LOL.

IMF produced a document with proof. Come up with something, anything that refutes that with real data and facts.

Oh, you cannot. What a surprise that is LOL

Read it and be slayed with actual facts   LOL

https://financialpost.com/news/imf-forecasts-canada-fastest-growing-economy-g7-2025

Please demonstrate your superior intelligence and knowledge and list all things in the report that are false, lies and incorrect. I suspect we will be waiting a long time LOL

Your only claim is that I support trudeau which is also false so, like a few others, you are an outright liar LOL

I support facts...not rhetoric or assumptions or BS from you. LOL

If you wish to start something, be prepared for a loooong and embarrassing for you debate.,

Edited July 21, 2024 by ExFlyer

[CdnFox]

2 hours ago, ExFlyer said:

The government did not make the statement. It came from the IMF.

Nobody said the gov't made the statement.  But the statement is about the gov't no matter how you slice it. 

I said you're defending the gov't, not that the gov't made the statement. 

Quote

The liberals can take the blame for many things but they cannot take blame or credit for an IMF statement that comes from the data and facts they have gathered.

The IMF didn't make a statement. They changed their forecast for canada. Canada will do a 10th of  a percent better than previously expected in GDP growth this year.

The Financial Post made a comment that this means canada will be the fastest growing gdp this year. 

Beaver made the sardonic suggestion that this was a good thing and trudeau should get the credit. 

That's how we got here.   But it's not a good thing.

 

Quote

The royal bank statement is based on their singular point of view with prejudiced and profit  to their business. The IMF could not care less about the royal bank.

So when it's the IMF - who's all about business btw  -  it's experts offering expert opinions based on fact. 

But when it's the Royal bank of canada - it's bias and the facts don't matter  

And you're wondering why people are suggesting you're unreasonably defending the gov't. 

Every single economist knows  that gdp per capita is the number that matters when you're looking at how well an economy is doing, with the growth in debt offsetting that where applicable. 

The growth in gdp is not good news at all if the growth  in gdp per capita is going down OR if the debt to gdp ratio is going up. 

And yes, it IS justins fault. 

[sharkman]

5 hours ago, I am Groot said:

And once again, in your desperation to defend the Liberal government you are utterly ignoring the clearly drawn facts that the only thing they are measuring is the growth of GDP. And the growth of our GDP is 100% due to the uncontrolled arrival of millions more people over the past few years. Something certain to continue until Trudeau and his little brother are kicked out.

You can see that Trudeau needs to get kicked out but you can’t see that Biden is worse than Trudeau.  Too bad about that, but you’re certainly not the only one to get programmed by various media sources.

[I am Groot]

3 minutes ago, sharkman said:

You can see that Trudeau needs to get kicked out but you can’t see that Biden is worse than Trudeau.  Too bad about that, but you’re certainly not the only one to get programmed by various media sources.

I'm not programmed, son, I'm knowledgable. Almost everything that's wrong in America was wrong under Trump, too, and he didn't do a thing about them. He didn't even stop the mandatory DEI re-education courses for public servants until he was already in his re-election campaign. And he did nothing about the border until the Democrats took the House and he could use it as a weapon against them. Trump is not a conservative. He's a very old man afflicted by dementia who spouts lines like the sales guy he's always been, always looking for a sale and trying to stay out of jail.

[I am Groot]

2 hours ago, ExFlyer said:

groot, you presented diddily squt LOL.

IMF produced a document with proof. Come up with something, anything that refutes that with real data and facts.

Everyone has already patiently explained to you that all he IMF found was that our economy was growing fast - because Trudeau is pouring millions of people into it. Several people have posted cites from the banks saying as much. I don't know why you seem incapable of understanding that.

 

2 hours ago, ExFlyer said:

If you wish to start something, be prepared for a loooong and embarrassing for you debate.,

LOL. I'm not going to waste time arguing with a guy when everyone in the room has already told him he's wrong. It's not an argument I need to make nor, evidently, one you'll understand. 

And the only people who swagger and brag about their proficiency in debate are those everyone else laughs at.

[BeaverFever]

Trump is 78 years old, and he will officially be the oldest candidate on the presidential ballot in US history as Biden was only 77 back in 2020.  Back then Republicans said that was too old, there ought to be an age limit, nobody that age can possibly be trusted to run the country. I guess in hindsight they were actually right about something or once.  
 

What’s with Republicans and their ancient candidates they’ve running i the last 3 elections does he wear diapers? 😂

[CdnFox]

14 minutes ago, BeaverFever said:

Trump is 78 years old, and he will officially be the oldest candidate on the presidential ballot in US history as Biden was only 77 back in 2020.  Back then Republicans said that was too old, there ought to be an age limit, nobody that age can possibly be trusted to run the country. I guess in hindsight they were actually right about something or once.  

Oh look.  Once again the dems suddenly switch their tune and rewrite history to try to cope with the fact they lied and covered things up.

Biden is mentally gone. Period. That's why he can't run again. The guy has dementia and parkinsons.  He's not fit.  I don't care if he's 20 years old or 200 - the guy can't do the job. 

Trump is lucid, trump can still walk up stairs and trump does not have a mental impairment. Trump can run for president. 

If you think there should be an age restriction then you should have been agreeing LAST time when it was YOUR guy.  BUT - you don't get to disagree and say Naaaaawww it's fine and THEN demand there should be an age restriction when it suits you. 

I think there really should be an age restriction but Dems said no.  Maybe they'll rethink after this - enjoy trump for 4 more years. Good news is that unlike biden he won't try to run again.