Laut Macklem würde der Verlust von CUSMA eine Rezession für die kanadische Wirtschaft bedeuten
https://financialpost.com/news/economy/macklem-loss-cusma-mean-recession-canadian-economy
Laut Macklem würde der Verlust von CUSMA eine Rezession für die kanadische Wirtschaft bedeuten
https://financialpost.com/news/economy/macklem-loss-cusma-mean-recession-canadian-economy
37 Kommentare
In other news Water is wet and Trumps off his rocker.
And for the US economy
Sure, and it will all but collapse the US economy. They desperately need the raw materials & energy. And potash.
TACO anyway.
Canada is already in a recession
We have the highest food inflation in the West & our economy contracted last quarter
and it’s worse than it actually is considering we imported millions to hide this problem and keep housing unaffordable to hide this problem and have a bloated public sector to hide this problem
Mr. Bank of England is a failure
Brother, we’re already in one.
We’ve been in a recession since COVID. Would be nice if they could just be honest for once.
Yeah, and after having watched Joly on ctv, this was my fear, too.
We’re getting closer to China, but seemingly stepping away from CUSMA.
Are we prepared as a country to lose free trade with what has been our largest trading partner?
You’re not selling to China, Europe has their own guys, Malaysians aren’t buying.
Who do small businesses sell to? That is something I am still trying to figure out.
Carney said he’d pursue a deal by the 21st of July, he’s failed us on that front.
All three countries would go into recession, no? This is what our government is preparing for, conditionally.
It’s in place for a 16 year term. We won’t „lose“ it even if nothing is accomplished then the reviews just change from every 6 years, to every year.
The review gives all parties the ability to extend the term another 16 years.
So worst case scenario, we could just walk away from anything Trump wants and it stays as is until 2036, at which point he’ll be dead and hopefully they have somebody in place that doesn’t have a barely sentient sponge for a brain.
We’ve been in a recession for a long time… Anyone that tells you different is lying to you.
First off it’s a review and if none of the countries agree to the terms it goes back to those yearly reviews until 2036, when it actually expires. The only way for CUSMA to be removed is through Congress since its law. I know Congress is inept but I doubt Trump would get the votes he’d need to get CUSMA scrapped.
Tired of pretending that we aren’t already living in a recession
This guy is like booger McFarland from ESPN. He just screams „trump!“ to hide his and Trudeau’s own misdoings. I remember two years ago he said like some neoliberal how automation would raise standards and make people go to better jobs. Now he says how it’s ruined entry level job market. Doesn’t know what he’s doing or anything
What good is a trade deal if the participants involved don’t honour the agreement?
We have been in recession for how long now? Like for real, I think we are not just in a recession, we are in a stagflation.
Trump will not be president forever. All of his bad ideas about U.S. foreign policy can be reversed. They are already being checked. Fatalism can become a self-fulfilling prophecy.
Wow insightful. I had no idea
I’d rather no deal and deal with the consequences than a completely one sided deal. Fuck Trump and fuck MAGA.
So be it.
Well state the obvious
*Gestures vaguely at the economy that was propped up by cheap immigrant labour and exploitation*
We’re already there, bud.
May as well take this opportunity to restructure our trade since our economy is going to be forcibly restructured anyways.
U.S. economy too, but they are already there.
– Well, the automotive aspect is basically dead.
– They’ve been hitting softwood lumber for decades now.
– US is pressuring on supply management (dairy).
And our housing market contributes way too much to our GDP and I’d argue it’s kinda dead right now.
The rest is all commodities which aren’t so hot.
Oh look, the consequences of putting the majority of our trade eggs in a single basket!
Fingers crossed the lesson sticks this time.
All part of the plan
CUSMA is already „lost“.
Trump has made this clear. He’s coming back with demands that link sovereignty issues, arms purchases, and pay-offs, to selling products in America.
It’s over, and yes, there will be a recession in Canada. That’s why the massive layoffs in private and public sectors – to cut costs now, and thereby avoid the awful optics when the shitstorm happens. And of course, to start putting away money to keep afloat.
Trump is dismantling the world wide supply chain that has found efficiencies through trade. It simply doesn’t make sense for all counties to be able to make all things, especially a smaller country (population wise) like Canada
Production and trade will therefore become less efficient. Costs will rise, resulting in fewer people being able to afford products. Factories will slow or close
It only seems like we’re rich because of assets like houses and stocks. But you can’t really create value trading houses back and forth between your citizens. And there isn’t enough real money if people start taking money out of the stock market
We’re unfortunately poorer than we think
The wild card is Trump. If he pushes interest rates through the floor, inflation could skyrocket and the stock market could soar, at least for a time. Keeping your money in cash can therefore be risky too
Newsflash. We are already in a recession.
Macklem has been the wolf crying boy since April. My speculation is he helps on the expectation management for the government.
Once he starts to cry, business and consumer will stop spending and start saving. Essentially, that’s how you get out of a inflation. However, Macklem is also playing a dangerous game. Because more people will only spend on essentials like groceries and gas. Those prices will go up because they are making decent profit while others suffer. Then they will raise the price once again because there’s still room for exploitation.
So people will end up having a low overall inflation but very aggressive one in some sector. It’s a very difficult game for sure.
Lolll can’t be in a recession if you’re already in one
Better recession than subjugation.
Dude CUSMA was dead as soon as Trump was inaugurated.
pretty sure that would mean recession for the american economy as well.
It will definitely be painful. That’s why PM Carney is doing his utmost to work with other countries to mitigate some of the damage from Trump’s tyrannical tantrums.
Many countries have felt the chaos that is the current US government. America will be much more isolated after Trump. That damage will not be easy to repair.
Best start believing in a recession. ‘Cause you’re already in one.
Thanks Captian Obvious
r/NoShitSherlock