Why Canada’s Economy is Doing Surprisingly Badly

In this video, we’re going to take a look at Canada’s economy; why things are getting worse;

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[todo]

It's not surprising to anyone in Canada trust me.

[conradkolo]

As a Canadian, yeah, things are pretty grim here. Food's mad expensive. We have this weird culture of normalized corruption, like how all of our bread had it's prices artificially hiked for decades. So far a national grocer was fined 500mil, but that's a drop in the bucket compared to their profits. Everyone here has general apathy about the state of the country and the chips are down. Also, about housing, the video failed to mention that Canada has about a 60% owner/occupancy rate. Meaning 60% of people own their home. If we build up enough houses and solve our crisis, their speculative prices will drop. They don't want that. No leader wants to fully get rid of the housing crisis or reduce immigration. Even the conservatives, our "right" leaning party has no desire to change the immigration policy. So essentially, no elected official want to tank the value of 60% of the population's most valuable asset, and none want to reduce immigration because then our economy built on fairy-dust will be revealed for the walking corpse it is. We're essentially in a death-spiral and no elected leader wants to address any of the root causes because it'll hurt their re-election odds.

Pour one out for the great white north.

[backbeat]

Canada's standard of living on track for worst decline in 40 years

[Michael-pgrv]

I am Canadian and that immigration number that you outlined only scratches the surface. We added roughly 500K immigrants last year but that does not include international students which account for even more. We are predicted to bring in 1.3M people this year. Our housing which was already struggling before this policy change is not completely messed up and our infrastructure including our healthcare is strained.

[yvtkm]

As a Canadian its getting pretty bad. Rent, food, and other costs of living are getting quite literally unaffordable. Once I finish University I have no plans to stay in Canada

[MrDadyD]

I dont think I have seen a single Canadian youtuber or video about Canada where ppl are happy about the living situation for at least 7-10 years

[axeldenault]

As a Canadian things are not going well. Small business are closing everyday, inflation is super high and only seems low because of oil price. All the growth is in the hands of big compagnies and rich people.

[Matt-YT]

Made a mistake. CmHC said we need 5.8m new home units. 3.5 MORE than forecasted to bring back affordability

[tatianastarcic]

It's sad how difficult things have become in the present generation. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.

[Erilithia]

20yo Canadian here. Myself and my peers will consider ourselves lucky if we can ever afford to own a home that we didn't inherit. Myself and 5 other students split rent on an old unmaintained house in a "cheap" neighborhood and we can barely afford the rent.

[geoff]

Canada has basically rejected the type of economy it is built on. We are a country built on primary industry (mining, lumber & agriculture) with a relatively small secondary/tertiary industry. While we have continued to introduce legislation that makes primary industries more expensive, there has been little or no effort to increase secondary and tertiary industries. That's why companies aren't moving to Canada and why wages haven't increased as these industries don't see the profits needed to keep up with the economy. This added with a lack of trust-busting which sees large companies create cartels over certain industries like groceries and telecommunications

[mrsupremegascon]

Mass migration only serve billionaires.

- Their properties values go up.
- They can hire plenty of workers with lower wages.
- Workers from poorly educated countries are not political and don't ask for better labour conditions.
- People are turning on each others instead on them.

The mass migration policies we saw in the West during the last 40 decades were driven by them. The result ? They are now way wealthier, while regular westerners have to cope with all the effects.
Funny thing is that, in the end, the billionaires children will suffer too, as western countries become less and less functionning.

[the_ikiru]

The immigrants number is wrong. 400, 000 permanent and over a million students. And students can stay after graduation.

[monkey_d_taha]

Productivity is low because all we do is invest in unproductive assets like existing homes. The real estate market is draining our ability to invest into business that generate wealth. The Canadian mentality is to recycle existing wealth rather than generate it. Both our culture and government are to blame. It's too hard to start a business here and Canadians are risk averse and would rather work a government job while saving to buy a home to rent out to students.

[robertdobie]

American citizens, one of our favorite places to visit is Montreal and have visited the city over a half-dozen times in the last 25 years and always loved it. But on a visit to Montreal this summer, we were shocked at how shabby and derelict the city looked compared to the last time we were there (2018) - shuttered store fronts, abandoned, dilapidated buildings even in the chic areas. Very sad. As a Canadian friend of ours said, Canadians have to deal with West Virginia salaries but Los Angeles prices.

[Steadyaim]

My experience of the last 10 years as a Canadian:
1.) Grow up in under-developed rural area with almost no services running my parents' subsistence farm while they go to work. Off and on school/versus self-taught homeschooling
2.) Go to university in the city on scholarships.
3.) Graduate, go do my Master's & PhD in Toronto.
4.) Get $120k job in finance right out of PhD in Toronto, try for a few years but still taking on debt to live in a 1 bedroom with my dog.
5.) Give up, go back to the Maritimes, get a $55k job outside my field, a crappy house with some land, and raise ducks - Have a better life now.
6.) I think this says a lot about Canada in the last 10 years. Its better for my quality of life to return to subsistence farming and throw away my years of education than it is to use all that human capital I have the potential for. What does it do for the future of an economy when its young professionals have no hope and just give up on the system? Many of my friends gave up on Canada as a whole and moved to places like Florida and Texas for the more affordable living and opportunities (absolutely astonishing sentence, that is). Yet we continue to just open the gates more and more for immigration, a primary cause of the cost of living crisis that is driving so many of us who live here out of the country. Its all good though I guess, our 1 bedroom apartments will get filled up by a group of 6 Indian guys willing to share inflatable mattresses in the living room....

[buehlerdragongaming]

I am Canadian and it sucks out here lol

[Andrew-gnqp]

Mass immigration. We're consistently told we have a labour shortage when our unemployment rate is 6%, we're destroying prime farmland for suburban sprawl, housing is unaffordable for many, and entire towns and cities now resemble India.

[helpmom]

As a Canadian a lot of this sits on Justin’s shoulders. He is famous for saying budgets balance themselves and a finance minister who said cancelling Disney plus would solve families financial problems. All while adding more taxes i.e. carbon tax and loosing money like the WE scandal. Happy to chat if you want more.

[strwtaegbrdgxfd]

Things arent looking great. Many young people are looking to leave