In Kanada ist das Wachstum ins Stocken geraten; Kanadas Produktivitätsleistung ist schwach, unsere Innovation ist unzureichend und wir scheinen zu pessimistisch in die Zukunft zu blicken.
https://www.hilltimes.com/story/2024/05/02/growth-has-stalled-in-canada/420423/
42 Comments
Hmm and who has been steering the ship into this mess?!?!?!?!!!??
Who could have predicted that importing millions of uber drivers was a bad idea?
Vote Liberal / NDP coalition for more of the same!
Not much to be optimistic about really
I am confused, does the Canada govt have technical people who are familiar with finance and economics?
Entrepreneurship is dead, it is too risky and heavily taxed, may as well take out a loan and invest in real estate.
It’s impressive we’ve managed to stall economically at a time when our biggest trading partner is thriving.
Because you’d have to be an absolute masochist to open a business and conduct innovation in this country when you can do so in the US and immediately eliminate dozens of barriers out of the gate.
And why would we improve our productivity when the government imports hundreds of thousands of people for cheap labour? There’s no reason to invest in technology like robotics and automation to improve productivity when there’s a lineup of people down the block for every job. Just throw human meat at the problem until it goes away.
Or maybe I’m being too pessimistic about the future..and present 🤔
Companies don’t want to invest in Canada or move operations here. Our government requires businesses to endure an obstacle course of red tape, and conduct years of endless surveys, impact studies, essays to ensure their operations don’t have even a tangential or perceived impact on anything or anyone.
Our economy is on life support, and we still make it as unappealing as possible for businesses to consider moving their operations here.
The best I can offer is depressive sarcasm and passive agressive ranting.
If you want to look into Canada’s future, just look at Argentina.
What a tone deaf article
We lose our best grads to the US. We bring in refugees who have no life ambition other than procreation by the thousands. And we don’t have sufficient venture capitalism to promote innovation. Banks’ insane profits just make the wealthy board of directors wealthier so they can spend half their time in the Bahamas instead of helping to finance startups. And we bring in temporary workers for wage suppression instead of forcing companies to innovate.
It’s been like this for 20 years. NOBODY could see it coming?! Anyone with a thinking brain shouldn’t be surprised.
Our risk aversion has created a political environment that frameworks OSFI into mandating our banks to be only real estate lenders.
While that makes our banking system extremely stable, the cost is that our growth companies have limited access to relatively cheap debt financing.
The absolutely stifles innovation, productivity and growth.
But don’t worry. Our government will move heaven and earth to ensure house prices remain elevated, and going ever-higher. They’re not quite paying your mortgage, yet, but if the only cylinder of the economic engine that’s still firing, starts faltering, rest assured that option will be in play, too. Right after infinity-length mortgages, and lowering the requirements to get one to something like ‘can you fog a mirror?’
This is what you get when you have 2-3 generations of people who believe that housing is the surefire path to risk-free wealth, give the asset a preferential tax treatment, which diverts investment dollars from productive assets into it, and build an entire economy around it.
With all the engineers and doctors we’ve immigrated? How is that possible?
Maybe it’s something to do with the 8 years of extreme government deficits with no economic improvements to show for it?
Pay people better and maybe they’ll be more productive and innovative perhaps? Crazy idea, I know.
If every single Canadian worked five times harder, the government would provide zero reward for our effort. The system is broken, fuck em.
We need to cut income tax significantly to stimulate the economy and innovation.
“Seem to pressimistic” I’d say for once my expectations are being met, I’d call that realistic
More door dash workers are coming
Is it really pessimism if it’s just actually realistic
Now lets watch employers try and reduce wages even further forgetting that people don’t work for free and stagnant wages means stagnant productivity.
Just like this article / post.
TOO pessimistic? Maybe people are no longer accepting being gaslit 24/7.
Every bit of spare capital is invested in residential and commercial real estate, which produces no goods.
And we can’t figure out why productivity is flat
They pretend to pay us, so we pretend to work
We are being asked to do more, faster and better for less. People are just gonna give up soon and most already have.
We’re supposed to be optimistic about a bunch of corrupt plutocrat dick sucking hacks carving up Canada for their donors?
Lack of services, manifold.
People just go south and double or triple the income after tax.
It reminds me of a joke, a pessimist is a well informed optimist
Pessimistic? You mean realistic. Look out the fucking window.
You could increase our wages for the productivity gains that have already occurred between the 80s and today. Maybe even more to make up for the extra costs pushed to laborers. Until then why exactly would a laborer give a shit about productivity since the rewards of it only go to the top. Next you will try to convince us that the GDP actually matters to people actually creating the goods and services.
Weak Prime Minister, so goes the nation.
We need to take lessons from Germany, not the losing world wars part but the manufacturing part.
Thats what happens when you value capital higher than labour
Sounds like a management issue, don’t invest in training, hire outside the company instead of promoting with in, low wages. We clearly need more productive management.
I actually contend this productivity imbalance is a feature of the current global order. Look anywhere in the western world and issues are pretty much the same. Hell I know with regard to immigration, housing, and productivity you could just swap out australian or UK news. Basically the americans are sucking up the investment, and we get the worst of it due to our proximity.
It’s been that way for almost 50 yrs.
In my opinion, it’s time for revolution in the form of eliminating all taxes in Canada and replacing them ALL with a single Land Value Tax.
[https://en.wikipedia.org/wiki/Land_value_tax](https://en.wikipedia.org/wiki/Land_value_tax)