The Problem with Canada’s Economy | Canadian Economy

Despite being one of the wealthiest economies globally, Canada has struggled with stagnating growth in recent years. The country has experienced little to no economic growth in recent years, and this trend seems to be continuing. This lack of growth has been linked to various factors, including a decline in oil prices and a lack of innovation and investment in various sectors. Its economy is also struggling with low productivity and innovation. The OECD forecasts that the country will stagnate and have the lowest growth of any advanced economy over the next 5 years. So, why is Canada struggling to grow, and what can this tell us about other advanced economies?

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#economy #canada #recession

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[econYT]

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[Greggsberdard]

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my retirement savings .

[ericmaceachern]

The Canadian Dream is having someone else pay your mortgage with their rent.

[Raymondjohn]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[gingerkilkus]

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Canada.

[Neverender]

The last time my landlord came to collect rent, I invited him to come up to my apartment to show him I was taking good care of the place (and to hopefully discourage him from renovicting me at some point in the future). He said he didn't have time, as he had to go collect rent from 11 or 12 of his other properties around the city. He also mentioned that he had never seen the inside of my apartment before (despite the fact that he owns it). He has only been in the country for a few years, but apparently he already owned a lot of land here before immigrating. He's a very nice guy, but I can't help but feel that there's something seriously wrong with this picture. We can't base our entire national economy on selling our land and resources to rich foreigners while we produce nothing of actual value.

[mattt]

The brain drain part really struck a cord with me. Canada spent tens of thousands of dollars subsidizing my education only for me to leave in my mid 20s to seek better opportunities in the US and get away from their housing crisis. I tried to stay in Canada but even the top companies had vastly lower pay compared to what I could find in the US relative to the cost of living. The biggest difference I've noticed living in Canada and the US is in Canada the smartest people I know are investing in unproductive real estate and in the US they are hustling to start/grow STEM startups. In my view, the worsening housing crisis in Canada will only exacerbate some of these stats in the coming years.

[alicegomez]

Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.

[jessicamoore]

I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job or should force early retirement. All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.

[SofaMuncher]

This country seemed like a paradise when I was growing up, our family had a doctor, we could get healthcare access quickly, my parents bought a beautiful home for cheap, and my dad started a successful company, while my mom was able to stay home and raise us.

These days both partners need to relentlessly work to even afford a place where raising a family is extremely difficult, healthcare treatment takes hours of waiting, and costs of basic services are through the roof. In BC we have only 1 government-run car insurance corporation, and they charge me $500 a month for my work vehicle, despite me having a nearly clean record.

[Asmodai]

Canada is a real estate banana republic. Real estate is an unproductive asset to the general economy. It's dependent on low borrowing rates which encourages asset price inflation and the exploitation of those who are unwilling to participate or those unable to afford barriers to entry. This perpetual cycle of borrowing, buying and exploiting, has its upper limitations. Eventually everyone loses as debts are insurmountable and rent becomes unaffordable. When a recession occurs due to lack of spending, job losses will occur and a deleveraging will be soon to follow.

[JefferyDuns]

Our economy is worse its like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[Rochelletrem]

The news about Canada's economy collapse is not new. the media are currently being inundated with the news of economic meltdown. It takes a lot to look past the sea of ​​headlines and focus on what's important: No matter how low stock prices fall, they keep rising. I completely ignore all news and continue to invest. I recently set aside $40, 000 to invest in the market as we anticipate a collapse. Do you have any suggestions?

[rockmanxdi]

This is so relatable. I was earning 60k CAD in Vancouver, living in an one bedroom condo and had no investment. Then I moved to Seattle (3 hours from Vancouver), now making 170k USD, owning two real-estate properties. I don't want to move back to Canada anymore, because the life there is very expensive, why do I pay so much tax and still can not have a decent life?

[janellejacob]

I used to think every investor went broke during recessions, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $145k to invest for future, unfortunately l'm a complete noob.

[hersdera]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[Sheil-hard]

Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.

[uchuynguyen]

I was an international student in Canada and am now a neutralized Canadian. In the last 5-6 years, Canada has increased their immigration target every year. A lot of people coming in boosted the housing price, additionally, putting a burden on healthcare

[fjskj]

As a Canadian, I wholly agree with this video.

Wish people would invest anywhere else but in housing. One of the most basic necessities of life as a commodity creates an imbalance. Rents are high and so are property prices.

Im an older Millennial, so all Ive heard and seen to start my professional working life was properties only go up. I honestly thought it was never going to be a reality. I got in just on time 5 yrs ago, but Im not sure what Gen Zers are facing now. Maybe never.

It's pure insanity when it accounts for 13% of a country's GDP. We might as well put a text on our flag saying "land for sale 24/7”

[graceocean]

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.