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Trudeau Silent as Bank of Canada Warns of Economic Collapse



Canada teeters on the precipice of an economic calamity that threatens our very future. While the Trudeau government fiddles, our productivity burns.

Carolyn Rogers, senior deputy at the traditionally liberal Bank of Canada, sounded the alarm in a bombshell speech criticizing Trudeau for his failed policies. And she’s absolutely right. We’re skidding towards the bottom of the developed world.

Businesses slash investments, innovators flee south, and workers face declining wages that can’t keep pace with rising costs under Trudeau’s leadership.

But even when Trudeau was warned time and time again he fails to properly address the issues at hand and chooses to virtue signal and harm Canadians further through initiatives like the lax immigration policy that played a part in the mess that Canada is in right now.

Are Canadians destined to suffer until Trudeau is well out of office?

Trudeau Fuels an Economic Fire

Productivity growth in Canada has reached crisis levels, threatening future economic prosperity and leaving us vulnerable to inflation.

It’s time to break the glass on this emergency, as Carolyn Rogers, senior deputy governor of the traditionally left-leaning Bank of Canada, warned in a recent speech, our productivity has stagnated compared to the United States and other developed nations.

When general productivity lags, an economy cannot grow quickly and efficiently without prices rising and affordability taking a nosedive. Something that Canadians are already familiar with under Trudeau.

Goes to show that Trudeau will only work hard night and day just to ensure every hard working Canadian faces day to day hardships.

Productivity for Canada’s business sector today is about the same as it was seven years ago.

Canada used to produce 88% as much value per hour as the United States in 1984. Now we only produce 71% as much, and the gap is widening. This slowdown has spanned decades but accelerated recently.

It does not take a genius to deduce that this is not the most favorable trajectory in regards to a first world country’s economy, and that’s why Trudeau probably thinks everything is fine.

While U.S. businesses increased investments in machinery, equipment, and intellectual property, propelling productivity gains, Canadian firms have reduced such spending over the past 10 years.

Canadian investment per worker now lags most G7 nations. We invest less in labour-saving technologies than our international peers. As if the world needed more ammo to laugh at the Canadian liberal circus on display here.

According to Miss Rogers, a country ideally needs two important factors to be in congruence so that it may have a chance at increasing its productivity.

The factors consist of focusing on the industries that generate consistently high value; and focusing on the workers that will drive this successful and high value industry with maximum efficiency and skill.

This lack of investment in physical and human capital drags down productivity growth. Output per hour worked depends on workers’ skills and the amount of capital they use.

Unfortunately for Canada, the liberal government has disappointed on both fronts compared to other developed countries.

And all of this is due to our lovely and corrupt prime minister and his pack of liberal parasites bringing the country back down with them to their level.

How incompetent and inept do you need to be as a prime minister to fail even satisfying and achieving at least one of these factors? Canadians already know the answer but Trudeau’s corruption and general malice has got to great lengths just to hurt the future of Canadians and Canada.

Some blame Canada’s industrial mix for weak productivity, as its economy relies relatively heavily on real estate and natural resources extraction, which are less productive than manufacturing. But industrial composition is only part of the story.

Productivity within most Canadian industries lags as well.

Weak productivity also constraints Canada’s economic potential.

As the Bank of Canada notes, higher productivity allows faster growth without fueling inflation. But with anemic productivity, our economy expands slowly before hitting capacity limits.

In other words, Lackluster productivity caps Canadian prosperity.

Most worryingly, sluggish productivity leaves Canada unprepared for future inflationary pressure.

Demographic changes, climate impacts, and global tensions will all strain prices and general affordability. With poor productivity, even small economic gains could ignite inflation.

We are seeing the effects right now with businesses closing down at higher rates than they had ever due to the lack of incentive and support for high productivity in several volatile industries and especially after a pandemic that Canada has not recovered from when most of the developed world has already gotten up on their feet.

Trudeau Does Not Learn From the Past

You would think that Trudeau and the corrupt liberal establishment would say or maybe even do anything by now to quiet down this economic storm brewing.

You would think Trudeau would do everything he can to hold down business in Canada and increase incentives to further fuel market prosperity.

But you would be sadly mistaken, because Trudeau does not think it is a huge problem that will affect Canadians in the future since he already claims to have solved it back in 2023. Wanna know what his solution was? It was immigration…immigration is the solution Trudeau chose out of everything he could have done.

A solution that not only lacks the means to assist in the Canadian productivity issue; it is also actively making the situation worse, which got us to where we are today.

This little fact was ironically confirmed last year by the former Bank of Canada governor, David Dodge.

Dodge argued back in 2023 how reckless immigration policies, supported by the likes of Trudeau, are undermining Canadian productivity and competitiveness.

The reason lies in Ottawa abandoning our merit-based immigration system that previously prioritized high-skill workers.

Now we mainly admit students and temporary foreign workers with lower skills. This shift would obviously erode productivity and depress wages. And we are seeing the result creeping in just recently.
Dodge highlighted how constant influxes of cheap labor prop up inefficient firms.

Businesses reliant on abundant low-cost hires have little incentive to improve productivity through investment, innovation or automation.

Canada instead ends up with lots of “low productivity businesses hanging on because we provide them cheap labour.” As Dodge noted, that’s no way to build national prosperity.

A key driver that was highlighted was Canada’s lack of business investment in productivity-enhancing research, technology and equipment compared to competitors.

Capital instead flows into housing and other areas that generate less innovation and growth.

Excessive immigration exacerbates these problems.

Raising Canada’s already high immigration intake to unprecedented levels compounds the challenge.

While boosting overall GDP through a larger population, rapid immigration reduces per capita GDP growth.

And the average Canadian worker is now estimated to generate less output than in the past.

Dodge’s words seem scarily accurate to the reality Canadians are facing currently and Trudeau is yet to listen and learn.

The dire conclusions etched by Dodge back in 2023 echo all the way to 2024 as consensus among experts confirm Canada’s dire economic situation.

And the Corruption River Keeps Flowing…

Trudeau is not doing himself any favours in the face of several crises including an economic one, when instead of focusing on rebuilding the industry, he is too busy squabbling about minute issues like cutting the funding for Ontario’s housing plan because it is “not up to standard”.

In a dire economic climate and in times where the housing crisis seems to have no end in sight, Justin Trudeau chose to not cooperate and utilise construction plans that will get people working on building homes. Is the innocent and charming mask fully off now or what?

He is threatening to withhold upwards of $350 million in housing funds from Ontario in a cynical ploy to impose Ottawa’s will on the provinces. All because Ontario is “disappointing” the liberal establishment with how it is not meeting its agreed upon target.

What is infuriating is that this was all a lie by Trudeau and his gang of liberal cronies since Ontario’s plan aligns with original agreements.

Ontario Housing Minister, Paul Calandra rightly countered that Ontario follows a unique model to building houses in partnerships with municipalities, and as such it has reached 60% of its target already while Trudeau sits on his ass all day whining and complaining about phantoms that don’t exist.

After 8 years of Trudeau, Canada has suffered economically.

After 8 years of Trudeau Canada has become a laughing stock on the global stage. It used to be one of the leading first world nations; Now it would be lucky to even sniff the last spot.

After 8 years of Trudeau’s incompetence and corruption, Canadians have had enough.

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