Canada’s GDP is on the decline

[megatronprime]

Canada is experiencing a quiet economic decline. Despite headline GDP growth, per capita GDP is falling, meaning Canadians are getting poorer on average. Productivity has stalled, and much of the economy's activity comes from housing transactions and government spending, not real output. With rising debt and slowing private-sector growth, the country faces a shrinking standard of living masked by inflated stats.

[Newbeeee™]

Mark Carney approves this post!

[Incogneeto]

Canada is experiencing a quiet economic decline. Despite headline GDP growth, per capita GDP is falling, meaning Canadians are getting poorer on average. Productivity has stalled, and much of the economy's activity comes from housing transactions and government spending, not real output. With rising debt and slowing private-sector growth, the country faces a shrinking standard of living masked by inflated stats.

You sound like a Canadian Neuro.  

[gcode]

You sound like a Canadian Neuro.  

No, he sounds like a broke Canadian. 

Canada really hurt it's financial sector when the government locked the bank accounts of truckers who were protesting Covid mandates.

That shut the protests down overnight, but it demonstrated to the world that your money is not safe in Canada.
A whole lot of foreign investments cashed out and ran for the door, and have never come back.

[neurosis]

You sound like a Canadian Neuro.  

Ok, that's fuckin funny. 

[Incogneeto]

No, he sounds like a broke Canadian. 

Canada really hurt it's financial sector when the government locked the bank accounts of truckers who were protesting Covid mandates.

That shut the protests down overnight, but it demonstrated to the world that your money is not safe in Canada.
A whole lot of foreign investments cashed out and ran for the door, and have never come back.

Ahem.... Exactly.

"Most Americans can't afford the Basics."

[CNCAppsJames]

Ahem.... Exactly.

"Most Americans can't afford the Basics."

Most Americans lack the intellectual capacity to discern between a "want" and a "need" and tend to lump them together for convenience. 

IJS

 

[gcode]

Most Americans lack the intellectual capacity to discern between a "want" and a "need" and tend to lump them together for convenience.

IJS

yup... and the poorest welfare rat in the US lives better than 85% on the people on the planet.

[neurosis]

Most Americans lack the intellectual capacity to discern between a "want" and a "need" and tend to lump them together for convenience.

IJS

That might be true.

Credit debt is at an all-time high in the US.

[neurosis]

I couldn't let Incog down 

[megatronprime]

No, he sounds like a broke Canadian. 

Canada really hurt it's financial sector when the government locked the bank accounts of truckers who were protesting Covid mandates.

That shut the protests down overnight, but it demonstrated to the world that your money is not safe in Canada.
A whole lot of foreign investments cashed out and ran for the door, and have never come back.

tbh I'm not that broke compared to most Canadians, I've had to bank transfer a few friends so they could make it to next month, but I can't keep doing that..

You make some good points about the erosion in trust in the Canadian banks, the other day I was trying to take out 3 grand cash and they were telling me they didn't have it..

[megatronprime]

That might be true.

Credit debt is at an all-time high in the US.

And in Canada

[gcode]

Credit debt is at an all-time high in the US.

at the current rates they are charging for credit cards and credit lines it is very difficult to pay them off.
even people with excellent credit are paying obscene rates for auto and personal loans.
With ridiculous prices for new cars and high interest rates, $1000 to $1500 /month car payments are
common.   

[neurosis]

at the current rates they are charging for credit cards and credit lines it is very difficult to pay them off.
even people with excellent credit are paying obscene rates for auto and personal loans.
With ridiculous prices for new cars and high interest rates, $1000 to $1500 /month car payments are
common.   

Not to sound too much like Byte, pre covid I had plans to purchase a new vehicle. I figured that I would wait a bit until we got close to the EV mandates in Wa. I don't have the lifesyle that justifies an EV. I considered getting a Hybrid. 

Now, I don't know that I'll ever be able to afford a new vehicle again. Between inflation, vehicle price hikes due to tariffs, rising property tax..  I don't see it getting better from here.

This is coming from someone who has zero debt.

[Incogneeto]

This is coming from someone who has zero debt.

Welcome to the Left Coast.

Get ready for Gas Prices.