Canadian economy shrinks 1.6% in 2nd quarter, much higher than expected. ELBOWS UP!!

[CdnFox]

Canadian economy shrinks 1.6% in 2nd quarter, Much higher than expected

As the title says. And the first quarter's growth was downgraded on review. 

""The most concerning aspect of today's report is the seemingly weak momentum that the economy still had towards the end of the quarter and into the start of Q3," wrote Andrew Grantham, a senior economist at CIBC Capital Markets."

which means we're probably in a recession.  we've been in a per capita recession for some time, but it was hidden by immigration.  Now, we'll have both. 

The worst of the tariffs haven't even hit yet. Companies are just about to start doing more serious cuts as they can't hold on much longer. Investment is still fleeing. We will probably see the same or worse reduction next quarter and the gov't will have to respond with more gov't spending at a time when we're already spending more than ever in history by a huge margin. 

Elbows up, pants down. 

 

 

[Aristides]

So what do you suggest?

[BeaverFever]

3 hours ago, CdnFox said:

Canadian economy shrinks 1.6% in 2nd quarter, Much higher than expected

As the title says. And the first quarter's growth was downgraded on review. 

""The most concerning aspect of today's report is the seemingly weak momentum that the economy still had towards the end of the quarter and into the start of Q3," wrote Andrew Grantham, a senior economist at CIBC Capital Markets."

which means we're probably in a recession.  we've been in a per capita recession for some time, but it was hidden by immigration.  Now, we'll have both. 

The worst of the tariffs haven't even hit yet. Companies are just about to start doing more serious cuts as they can't hold on much longer. Investment is still fleeing. We will probably see the same or worse reduction next quarter and the gov't will have to respond with more gov't spending at a time when we're already spending more than ever in history by a huge margin. 

Elbows up, pants down. 

 

 

We knew this would come back in February. We can’t control Trump’s bad decisions we can only decouple from usa as much as we can which will take time. 
 

US Courts just ruled Trump’s tariffs are illegal, the made-in-America problem will have a made-in-America solution especially as American job losses and inflation mount 

[CdnFox]

1 hour ago, Aristides said:

So what do you suggest?

Put in someone competent. 

The solution to the housing crisis is not complex, but opening the FOURTH gov't created NGO to deal with it by LOANING Money is stupid. It will only benefit his friends, it will not build a single new house more than we were going to.  So do a real solution. It's not hard (but it's a separate post entirely to go over what it would look like)

Scrap the stupid tanker laws and anti pipeline laws and REALLY signal to business that we're going to make projects happen, and get shovels in the ground. Deals with germany that basically say someday we'll think about a deal isn't a deal. 

Pull a 'harper' and stop all infrastructure spending except for shovel ready projects and pull them forward. It puts real money in the economy without creating a false economy. 

Cut business taxes and make it worth while to invest in canada. Do PP"s plan for extra tax free savings for people investing in Canadian companies. 

KILL the rest of the carbon tax and carbon tax 2.0 which is about to go into effect. 

 

THat's just to start, that's things that people would see a different over in the next 6 months. 

what we're getting is NOTHING.

[Aristides]

You think this stuff happens over night? BC has had low carbon standards for fuel for several years. The feds are behind on this.

What shovel ready projects are you referring to and who is building them?

Are you suggesting the federal government build pipelines and LNG plants, go into the business of building homes?

The building industry said Trudeau's home building claims were nuts because we simply don't have the trades to build them. That won't happen fast either.

I'm certainly not saying he can't do some things better but they will never be good enough for you.

[SpankyMcFarland]

The person to blame for this does not reside in Canada. 

[Legato]

10 minutes ago, SpankyMcFarland said:

The person to blame for this does not reside in Canada. 

The person was away for 7 years but currently resides in Canada

[CdnFox]

3 hours ago, BeaverFever said:

We knew this would come back in February. We can’t control Trump’s bad decisions we can only decouple from usa as much as we can which will take time. 

We knew this was going to come back in 2024 and it's the liberals who put us here, not trump.  We hadn't even begun to feel the real effect of the tarrifs last quarter, and we underperformed the quarter before that as well, BARELY above zero.

And remember when carney said he'd supercharge our economy to deal with the tariffs? He'd have interprovincial trade solved by July for example? That as going to fix things?  

Yeah. 

[CdnFox]

52 minutes ago, Aristides said:

You think this stuff happens over night? BC has had low carbon standards for fuel for several years. The feds are behind on this.

What shovel ready projects are you referring to and who is building them?

Are you suggesting the federal government build pipelines and LNG plants, go into the business of building homes?

The building industry said Trudeau's home building claims were nuts because we simply don't have the trades to build them. That won't happen fast either.

I'm certainly not saying he can't do some things better but they will never be good enough for you.

I see you're entering 'Deliberately stupid' mode again where you pretend to have the IQ of a tree sloth that's been run over by a tractor trailer.

Let me give you another chance. Do you have any NON stupid questions?  And before answering go read my post again, several of your questions you asked above were answered directly there and you'll look less stupid if you don't repeat yourself. 

I hate it when you fake being this much of a twat. Try again. 

[Shady]

Don’t worry guys, Carney has a plan. 🤣

 

[Chrissy1979]

22 minutes ago, Shady said:

Don’t worry guys, Carney has a plan. 🤣

 

I bet you wholeheartedly supported Trump. Seeing as you’re thanking him for being an authoritarian. I bet you still do. 
 

 

Girley-men make me sick. 🤢 

[Aristides]

1 hour ago, CdnFox said:

I see you're entering 'Deliberately stupid' mode again where you pretend to have the IQ of a tree sloth that's been run over by a tractor trailer.

Let me give you another chance. Do you have any NON stupid questions?  And before answering go read my post again, several of your questions you asked above were answered directly there and you'll look less stupid if you don't repeat yourself. 

I hate it when you fake being this much of a twat. Try again. 

As usual, you resort to personal insults. Nothing changes with you.

[eyeball]

3 hours ago, CdnFox said:

Pull a 'harper'

The government would have to pull a Xi Jinping to put things into motion at the pace you're demanding.

I wonder if PP shares the level of admiration you apparently have for the sort of basic dictatorship it would take to turn the economy around on a dime like that.

[CdnFox]

8 hours ago, Chrissy1979 said:

I bet you wholeheartedly supported Trump. Seeing as you’re thanking him for being an authoritarian. I bet you still do. 
 

 

Girley-men make me sick. 🤢 

LOL,  you sure do spend a lot of your time fantasizing about others who are making you look dunb don't you   You've got some pretty serious OCD going on there girl    And i'm using "girl" in the loosest possible definition obvious  

7 hours ago, Aristides said:

As usual, you resort to personal insults. Nothing changes with you.

As usual you say something stupid, get called on the stupid, and cannot refute the stupid, and want it to be my fault. 

Do better you twat. 

[CdnFox]

7 hours ago, eyeball said:

The government would have to pull a Xi Jinping to put things into motion at the pace you're demanding.

 

Nope.  Quite easy to put a lot of it in place by now, or certainly very early in September. 

THe problem is carney has no idea what has to be done, and no idea how to do it if he did.  So he relies on "advisors" and gets pulled in numerous directions. We've seen it a million times,  "bad advice from bad advisors" is a common phrase in politics. 

Why would it have been impossible to use the time he spent bringing in his 'magic fairy zone' law which everyone hated to cancel the tanker ban and anti pipeline bill which is what industry wanted to see?  That would have been TOTALLY possible 

He could have announced a housing plan that really worked instead of the piece of crap he did announce which everyone agrees will do nothing to speed up housing.  But he didn't understand the problem. 

Etc etc. 

Easy as pie if you knew the issues. But he doesn't.  ANd his advisors gave him poor advice and he's gone in the wrong direction. 

[paxamericana]

As I have warned, fourth world status for Canada soon. Take this as a lesson next time you all think resisting America is a good idea. Don’t take American generosity for granted eh? There is one, only one way to get out of this hole you’ve all dug for yourself. 51st. For Canada to have a future it will mean getting in bed with America. Give the pants down approach a try next time and be grateful for the opportunity.

Don’t think your retirement is safe either, if this goes on long enough, your pension funds will run out of liquidity and the payments will stop. 
 

“Canada is bleeding capital at the fastest rate since the Financial Crisis. Statistics Canada’s (Stat Can) latest data shows foreign investors pulled billions from the country in Q2, with domestic investors joining the exodus. This goes beyond tariffs—the sheer scale and pace of outflows point to deeper structural cracks and fading confidence in the country’s future.” 

Edited August 30, 2025 by paxamericana

[LinkSoul60]

11 hours ago, Shady said:

Don’t worry guys, Carney has a plan. 🤣

 

I'm confused...  You support Trump and his authoritarian ways yet blame Carney for the consequences of Trump's approach to nationalism with tariffs.  You see no conflict of argument there?

 

[CdnFox]

3 hours ago, paxamericana said:

As I have warned, fourth world status for Canada soon. Take this as a lesson next time you all think resisting America is a good idea. Don’t take American generosity for granted eh? There is one, only one way to get out of this hole you’ve all dug for yourself. 51st. For Canada to have a future it will mean getting in bed with America. Give the pants down approach a try next time and be grateful for the opportunity.

Don’t think your retirement is safe either, if this goes on long enough, your pension funds will run out of liquidity and the payments will stop. 
 

“Canada is bleeding capital at the fastest rate since the Financial Crisis. Statistics Canada’s (Stat Can) latest data shows foreign investors pulled billions from the country in Q2, with domestic investors joining the exodus. This goes beyond tariffs—the sheer scale and pace of outflows point to deeper structural cracks and fading confidence in the country’s future.” 

there is no fourth world.  It's first second and third world 

Why the hell would we want to join a country who can't even teach it's kids to count? (it's like watching the hand grenade scene from Holy Grail all over again.  )