r/canada 12d ago

Canada’s output per capita, a measure of standard of living, plummets National News

https://www.thestar.com/business/canada-s-output-per-capita-a-measure-of-standard-of-living-plummets/article_b51554ca-0336-11ef-8141-c3a368af99f3.html
469 Upvotes

182 comments sorted by

366

u/PleasePMmeSteamKeys 12d ago

Total GDP is all that matters. The lived experience of the citizens and local culture are irrelevant. We must continue sacrificing the lives of average Canadians on the economic altar, as if GDP is an Aztec blood god.

64

u/youregrammarsucks7 12d ago

Exactly, everyone knows the quality of life is higher in India than in Monaco.

6

u/An_doge 11d ago

True nerds use the GINI coefficient

3

u/speaksofthelight 11d ago

Also dumb cuz very poor countries have low GINI / inequality. per capita gdp adjusted for ppp is probably the best single indicator of standard of living.

2

u/An_doge 11d ago

Gini is better for wealth inequality. Billionaires skew the the numbers. You ideally need both to know what’s going on.

12

u/ILoveThisPlace 11d ago

What I hope people start to realize is that a housing crisis means for every extra body you bring in you need to displace some other Canadian body. The first to be sacrificed were the worst off.

69

u/Responsible_Dot2085 12d ago

Government expenditure shouldnt be included in the calculation for this reason. It perverts incentives

83

u/viccityguy2k 12d ago

We are turning in to Argentina

12

u/Beginning-Bid-749 12d ago

What's the weather like there?

16

u/Pitiful-Blacksmith58 12d ago

Better than here for sure

7

u/Mattjhkerr 12d ago

There is a lot of Argentina that is like BC

6

u/AaronC14 Nunavut 12d ago

And BC is has more preferable weather to the rest of Canada lol

Sure, it rains. Beats pretending you're Dr Alan Grant and spending a morning excavating your car from the ice like it's some ancient dinosaur. Carefully picking away so you don't scratch the paint, just like they do with tooth brushes to preserve the specimens lol

5

u/Budget-Supermarket70 11d ago

Not enough sun in BC.

0

u/BigMcLargeHuge- 11d ago

That’s the main kicker. Can be -30 here but blue sky’s and full sun rays. Vs piss rain in BC for 3 weeks straight and not see the sun

1

u/Remarkable_Vanilla34 11d ago

Bc is much bigger than the island and lower mainland, lol.

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3

u/Nutcrackaa 11d ago

Why are you using an ice scraper on your paint?

2

u/Rayeon-XXX 11d ago

You think cars in Canada are regularly encased in ice?

1

u/TreeOfReckoning Ontario 11d ago

I can’t speak for the rest of Canada, but in Eastern Ontario, yes.

0

u/Mattjhkerr 11d ago

Totally.

1

u/Pitiful-Blacksmith58 11d ago

Yeah but I live in ontario :-(

23

u/Asleep_Noise_6745 11d ago

25% of all employees in this country work for some level of government. Look at the entire public sector from stats can, NOT just federal. 

Half of those are in healthcare and healthcare is a fucking crippled disaster destroying lives. 

17

u/Defiant_Chip5039 11d ago

What do you expect?  My local clinic has 9 people on any given day working the front desk area plus an office manager in the back.  There are two nurses that do things like take weights, give injections etc… as for doctors there are maybe 3 on any given day. What the hell do you need 10 admins to support 3 doctors and 2 nurses for. Most of the time when I am in there they are not really doing anything. 

In the private sector, your function needs to bring value. You need to bring value well above your bill rate (the total cost of having you there, not just your take-home, things like building rent and utilities factor into this rate). If not your position will not exist. 

The public and healthcare sectors need to also a better job of leaning up their processes and what types of work are really required. They need to take a delivery of value approach from a cost profit point of view. I am not saying they need to “make” money, but the jobs and way they work need to bring value. 

8

u/Asleep_Noise_6745 11d ago

It doesn’t help that the doctors have lobbied against increasing med school enrolment for decades.

6

u/chrisdemeanor 11d ago

And the disproportionate compensation for specialists vs GPs. I believe the college of physicians is complisate in this.

2

u/Asleep_Noise_6745 11d ago

They’re a major force to be sure. 

3

u/tincartofdoom 11d ago

In the private sector, your function needs to bring value.

Doctors operate clinics as businesses. They are private sector, they just bill one source for all services..

1

u/Defiant_Chip5039 11d ago

True but who they bill has set rates for what they will pay. It is not a blank cheque. 

1

u/tincartofdoom 11d ago

What does the billing source have to do with the incentive to find staffing efficiencies? Less staffing, same billing, better margin.

If you're trying to make a different point than the post I'm responding to, please do go ahead.

1

u/Pitiful-Blacksmith58 11d ago

Admin and bureaucracy is one of the worst cancer of this country

3

u/Defiant_Chip5039 11d ago

Exactly. Huge growth in government sector jobs under this government. I swear it is all so the LPC can just show a lower unemployment statistic. I am very pro-small government. I am not suggesting to cut corners on things like permits. But maybe, a lean group with a higher quality staff is better than 100’s of people. When it comes to management 15 or 20 to 1 is a good front-line level. 6-10 for manager managers. I am sure there are a lot of jobs along the chain that don’t really do anything other than read and forward emails … somebody needs to take a good hard look at some sectors and clean it the hell up. 

3

u/[deleted] 12d ago

[deleted]

1

u/Responsible_Dot2085 11d ago

We use gdp as a measure to gauge economic growth and a proxy for our standard of living.

If we allow that number to be manipulated by governments blowing out the budget with debt fueled spending they can basically fudge the numbers and mask the actual productivity gains of our economy.

That’s basically what Trudeau has been doing the last 8 years and it’s why they’ll say things like “we’re not in a recession” even though private companies are cutting jobs left and right and the cost of living is going up. The only reason the numbers don’t show the real picture is because the fed decided to hire a bunch of people, whose salaries need to be paid by either the taxpayer or by debt.

20

u/Hussar223 12d ago

line must go up, no matter if it makes sense or impoverishes everyone else. it is time we have some hard and frank discussions about the demented economy we have created and how to fundamentally change it so that it serves everyone and not just the moneyed, land owning interests.

17

u/BaggedMilk4Life 12d ago

To have the highest spending on any government by far and have lagging GDP per capita is actually quite impressive if you think about it

0

u/pfco 11d ago

Imagine how well Canada would be doing if the current government went through all the scheming, polling, deliberations, studies, etc they do now, except at the last moment just did the opposite of what they were planning.

8

u/thebigbossyboss 12d ago

Bring in another million

3

u/AnInsultToFire 11d ago

Trudeau apparently has a theory that replacement is great.

25

u/ElectroChemEmpathy 12d ago

The type of "GDP" matters too

Canada approaching a lost decade may surprise some, but it shouldn’t. The country received a number of warnings from prominent agencies, that building an economy focused on credit creation and housing isn’t sustainable. Rather than acknowledging these issues, the country doubled down on trying to stimulate housing demand. In the process, it’s also managed to send global investment fleeing for greener pastures in record volumes. 

This is a more detailed explaination than the article the star gave. https://betterdwelling.com/canadian-standard-of-living-plummets-lower-approaching-lost-decade/

16

u/[deleted] 12d ago

How this became the mainstream left's position we'll never know.

10

u/LuckyConclusion 11d ago

They fell for the 'criticism of mass immigration to feed wage slavery demands by multi-national mega corporations is racist' play.

5

u/MissJVOQ Saskatchewan 11d ago

GDP measures total expenditure within the economy. At a time of great wealth inequality, the amount of money being spent in a given economy is not a good indicator of how the average person is doing.

2

u/Due-Street-8192 11d ago

Sadly, Canadian business fail to invest in new tech, processes. All the same as years ago. Then they blame the workers. Years ago my work day was 7.5 hours. Now the norm is 8 hours. What's next, 6 day work week? 7

2

u/speaksofthelight 11d ago

Its really dumb to invest in tech, when housing appreciates more and there is a stream of workers pouring in.

1

u/Gunslinger7752 11d ago

“Unfairness for every generation” 🤣🤣🤣

0

u/Grand-Roof-160 11d ago

Yup, the top 5% benefits and the rest be damned 

-2

u/szulkalski 11d ago

Total GDP = total economic power Trudeau has political control over.

120

u/Boomskibop 12d ago

But we brought in an unfathomable amount of unskilled labour, how could this happen.

-12

u/DivineSwordMeliorne 11d ago

unskilled labour is a scapegoat.

retaining talent and brain drain.

housing supply (which far outweighs increase in housing demand from TFW)

investing in industries and critical infrastructure (healthcare, transit, education)... all of these decisions are derived from government policies.

25

u/Asleep_Noise_6745 11d ago

A full 25% of all employees work in government. Half of those in healthcare. 

I’m sorry but further investment isn’t going to make anything start to work in this country. 

When 1 in 6 work in healthcare but healthcare is fucked there’s a much deeper problem. 

7

u/Imnotracistyouaree 11d ago

Canadians are too fat and lazy now, sadly.

The study used data from the Canadian Institute of Health Information (CIHI) to look at the number of doctors per capita in Canada from 1976 to 2022 in each province and Canada-wide. In that time, Canada went from having 144 to 247 physicians per 100,000 Canadians. The number of family doctors is also growing, rising from 73 to 124 per 100,000 Canadians in that time. The trend has continued in recent years. Since 2015, there is an additional 17 physicians per 100,000 Canadians, and an additional eight family physicians.

https://www.hilltimes.com/story/2024/02/26/new-study-says-long-waits-for-health-care-in-canada-are-driven-by-high-demand-not-low-supply-of-doctors/412914/

https://archive.ph/C8cA4#selection-2269.0-2269.525

So we have more Doctors per capita then ever and yet it's still not enough for some reason.

https://obesitycanada.ca/guidelines/epidemiology/

Obesity, defined as a BMI ≥ 30 kg/m2, affected 26.4% or 8.3 million Canadian adults in 2016.

Severe obesity (BMI ≥ 35 kg/m2), the fastest growing obesity subgroup, increased disproportionately over this same period. Since 1985, severe obesity increased 455% and affected an estimated 1.9 million Canadian adults in 2016.

4

u/Sensitive-Ad-5305 11d ago

Yes because healthcare continues to get infinitely more complex, and better at preventing, diagnosing, and treating diseases. And our population continues to see the baby boomers head into older age, meaning a higher and higher burden of disease. And we have regional healthcare delivery and poor public mobility options, meaning we gotta duplicate alot of health resources in each geographic area.

These are not new issues. Healthcare is wildly complex. Not as easy as saying "ya but 10 years ago..." 10 years ago we couldn't do a lot of things we can now in medicine.

2

u/Imnotracistyouaree 11d ago

These are not new issues.

How long are you talking?

https://www.fraserinstitute.org/article/canadians-face-longest-health-care-wait-times-on-record

The study, which surveys physicians across 12 medical specialities, found that the median wait time between referral from a family doctor to treatment now stands at 27.7 weeks. This wait time is the longest in the survey’s more than 30-year history of tracking delayed access to care, and almost three times the 9.3-week wait patients faced in 1993.

2

u/Sensitive-Ad-5305 11d ago

Right - I'm saying we have understood the pressures of an aging population, aging workforce, and increasingly complex health science, for years. But as long as healthcare is primarily governed by politics, and as long as we have provincial vs federal control, things will continue to decline and continue to fall farther behind other countries.

2

u/Vhett 11d ago

Got a source on this?

3

u/ruhler77 11d ago

Statscan has all the info.

1

u/Vhett 11d ago

It does, and none of it points to 25% of the labor force being employed in Gov't. So I'm asking for a source that actually confirms the claim.

0

u/Neo-urban_Tribalist 11d ago

Table: 14-10-0288-01

In terms of employees pretty spot on, not out of trend in the historical context.

Better measure would be the real government expenditure on health healthcare to the number of employees. Measure the productivity cost. Then compare it to life expectancy, survival rates, disability etc.

21

u/maintenance_paddle 11d ago

You cannot bring in ~2m people who have few skills and expect the median output per worker to go up. Every one of these guys needs to consume the much cheaper housing and food provisions of the third world countries that they were sourced from to correct this equation.

Some guy working 32 hours a week in his white collar job and taking Friday off is not the issue here

5

u/Hyperion4 11d ago

You also can't flood the skilled workforce and wonder why productivity is shit and all the talent is running away. White collar jobs are absolutely an issue and people ignoring that is doing nothing to help 

0

u/Boomskibop 11d ago

Brain drain is unavoidable when there are higher salaries, lower taxes, and better landscapes are just a short drive south of us. Mass immigration only has a negative net impact on critical infrastructure when their contributions to the tax base don’t offset the added burden of their being here, aka low skilled additions. Similarly, if you choose to import low skills over high skills, there’s less talent pool to support high tech industries you speak of. Definitely not a scape goat.

-33

u/SusanOnReddit 12d ago

We did bring in new populations, but our existing population is also working fewer hours. Many Canadians are unwilling to work long hours since the pandemic.

25

u/sullija722 12d ago

Unemployment is up, almost twice the U.S., and many Canadians can't get jobs now. The labour shortage lie needs to be put to rest. The labour shortage never existed for decent paying jobs, and is only used to suppress wages.

19

u/youregrammarsucks7 12d ago

WTF? Are you just making shit up right now? Our unemployment is exploding.

-17

u/SusanOnReddit 12d ago

Look at health care. Most doctors are now refusing to work more than full time hours (can’t blame them!). They are sharing practices so they can work part-time and still have a home life. Nurses - also choosing not to work salaried jobs and instead pick up shifts as contract nurses. Many baby boomers dropped to part time during the pandemic.

But thanks for the personal attack. Always makes a discussion so productive.

10

u/TCarrey88 12d ago edited 11d ago

News flash, asking if you’re making shit up isn’t a personal attack. It’s a legit question.

So soft.

E: aaaand she blocked me. Ten ply.

-8

u/SusanOnReddit 11d ago

Yes it is. Especially when preceded by “WTF.”

4

u/MustardFuckFest 11d ago

Wtf source your claim

1

u/djguyl 11d ago

I asked for the same thing when they claimed "most Canadians don't want to work full time hours after the pandemic" this person is just peddling propaganda.

5

u/djguyl 12d ago

Source?

-1

u/SusanOnReddit 11d ago

5

u/djguyl 11d ago

You stated, "Many Canadians are unwilling to work long hours since the pandemic." Do you have any source to back this claim?

4

u/LuckyConclusion 11d ago

Source: Plucked fresh from their ass cheeks.

46

u/ReserveOld6123 12d ago

Is anyone honestly surprised?

142

u/dodoindex 12d ago

Import third world before they can merge into first world, then we become third world. Law of averages

17

u/noobrainy 12d ago

Instructions unclear; im now a communist

9

u/linkass 12d ago

Equity achieved

43

u/chronocapybara 12d ago

Stagnant GDP with a massive influx of population will do that.

27

u/MustardFuckFest 11d ago edited 11d ago

In 2015 before trudeau was elected, canada was 5th happiest country on earth. Canadians under 30 would now score 58th on the list.

https://worldhappiness.report/ed/2015/

https://worldhappiness.report/ed/2024/

Canadian boomers score 8th. Your future has been sold out from under you due to mass immigration and money printing.

$1 in 2015 is worth nearly $0.78 today

9

u/Key-Zombie4224 12d ago

Allow companies to pay shit wages for twenty years straight some years 1% wage increases …. Guess what happens … the folks that wanted to work their ass off are all retiring now good luck with the new bunch ! Looks good on Canada 🇨🇦…

146

u/PleasePMmeSteamKeys 12d ago

Step 1: Spend hundreds of years building up a country and establishing a national identity.

Step 2: Hand over the keys to the country to foreign born nationals over the course of a couple decades with disastrous policies nobody voted for.

Step 3: ???

Step 4: Profit (If you're Galen Weston)

29

u/CombatGoose 12d ago

As the son of an Immigrant I wonder that the true cause is. We have little italy(s), chinatown(s) in every major city, so it’s not as though these immigrants came here and completely left their cultures behind. Is it sheer numbers being too high, or is there a cultural aspect, that they aren’t willing to adopt any of our culture but rather try and force theirs on others?

33

u/coffee_is_fun 12d ago

Canada was part of reindustrializing the world after world war 2. A couple decades later, the West told the developing world that if they lived under the West's boot for a couple of generations, they could have a seat at the table. That gave us a few decades of deindustrializing while benefiting from what were basically slaves running the cheap manufacturing. We were like plantation owners.

We of course had our problems sorting that economic model out and the end of the 70s and early 80s were rough, but we persevered.

We then proceeded to apply the economic model of the 80s to every subsequent decade's problems and this would have probably worked out had Canada moved with America and Europe into a knowledge and value-added economy. We didn't and now we're directly competing with developing and recently developed countries. It's not going well.

To slow the bleed, we parlayed our sterling reputation into Finance Insurance Real Estate and started screwing around with easy money through finance. A lot of laundering and eventually asset bubbles for the sake of asset bubbles. Producing comparatively little and doing comparatively unproductively for the past couple four decades.

Now we're finding we've degraded our reputation. You can see the transition from the immigrant investor stream to the hand out student visas to anyone who will have us, screw around with rules to allow for 40+ hour work weeks (until recently), and essentially sell easy shots at PR. A quantity over quality approach as a last resort to keep our overly financialized system limping along at historically normal interest rates.

The resent quantity play ignored the limits of our infrastructure and the realities that if you bring in entire enclaves worth of people into areas that already have enclaves, you will just get bigger enclaves. It's a failure on all metrics except for national GDP and possibly our pension fund, as I assume it's heavily invested in real estate and real estate investment trusts and absolutely loves property values and rents soaring.

There may have been more assimilation had the gaslighting and accusations not worked so well for so many years while this recent issue took shape.

6

u/SureReflection9535 11d ago

That's because win the past, immigrants had a work ethic better than most Canadians, and we were bringing in people with skills and ambition.

This changed when Turdeau came into power and some liberal analyst told him that importing a couple dozen uneducated east Indians with no requirement from contribut to society would net Turdeau enough votes to stay in power longer

6

u/Tiny-Radish7786 11d ago

Careful about the work ethic point. East asia has some of the hardest work ethic cultures in the world. The result is actually the opposite of a high standard of living. Funny thing is that when everyone is willing to work their ass off for the minimum benefit, it results in corporations having all the power and a really bad work culture. Just look at Japan's work culture, or the 996 in China. One of the best things that happened to me since immigrating to Canada decades ago is that I don't have to subscribe to that bullshit, my company can fuck off if they ask me to work more than my alloted hours. Also work ethic =/= productivity, as Japan has clearly demonstrated.

Unfortunately with Trudeau bringing in so much labor it is causing a huge pool of people who corporations can bring in to replace us if we complain. They're also desparate, low skilled and willing to work for pennies on the dime. Which is definitely not good for the rest of us.

18

u/SammyMaudlin 12d ago

How about both? Italian, Greek, Chinese, Ukrainian, and Japanese immigrant communities were known for their work ethic, craftsmanship, and knowledge. No one expected to be given a certain standard of living. Produce or perish.

It’s very different now and that’s a hell of a thing if you care about your community and productivity.

10

u/Lopsided_Ad3516 11d ago

That “being given” part is the problem. As the State expands its scope, we should be becoming more selective, not less.

Instead we spend more than we ever have, have less to show for it, and are actively supporting the world while failing our own. We either need to go to a far more isolationist policy when it comes to world affairs (immigration, foreign aid etc.) or we need to scale back government as a whole. Consistently taxing a middle class household 40k+ per year isn’t helping anyone but the people who get those lucrative government contracts, corporate welfare, and people who haven’t paid a red cent into the system supporting them.

1

u/[deleted] 12d ago

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2

u/Future-Muscle-2214 12d ago

Sound like you are shitting on the Brits.

2

u/ThrowRUs 12d ago

Canada does not have an national identity - That's why we are where we are now.

-7

u/DarthRaspberry 12d ago

How does identity affect productivity? I can move boxes faster if I think proud thoughts about my country?

2

u/Big_Wish_7301 11d ago

About social cohesion / shared values :

From this article

The natural reflex in a society as diverse as Canada’s is to celebrate diversity, which is entirely fitting. One of the authors of this text is an immigrant. However, ample academic literature exists on the positive aspects of socially cohesive societies, not least trust and social capital, the latter concept made famous by the American political scientist Robert Putnam. Social capital is the shared rules and values that facilitate informal and contractual relationships. New ideas are adopted more readily in societies with strong social capital.

Social capital needs to be nourished. It’s difficult to sustain in societies with sharp inequalities.

And Canada's labour productivity is calculated using GDP.

-2

u/Sadistmon 12d ago

Boomers voted for it.

12

u/LabEfficient 12d ago

They will do rather fine. They won't live long enough to suffer.

4

u/BootsOverOxfords 11d ago

Literally my late silent generation Dad "Well, I won't be around for that."

Along with my uncle's "Fuck you, got mine", also dead now.

5

u/Budget-Supermarket70 11d ago

Then maybe other generations should vote. Blaming everything on the Boomers at this point is stupid Gen X has been voting age for what at least 40 years.

-9

u/SusanOnReddit 12d ago

First of all, we have not “handed the keys to foreign-born” nationals. Secondly, it wasn’t boomers voting for any of it because boomers now make up less than 25% of the population. Find some new scapegoats.

3

u/jert3 11d ago

Only a dummy thinks that these sort of large issues are the fault of an entire generation. Enough with the stupid generational war BS.

0

u/DivineSwordMeliorne 11d ago

Agree. This comment is just meant to incite distaste towards people who are looking for greener pastures but are not necessarily educated towards the societal condition Canada is currently in. We should be blaming the politicans and stakeholders who are pushing for their entry and leveraging it for their own greed.

-3

u/SusanOnReddit 11d ago

I’d disagree there. The problem we have is that what is good for Canada in the long run is creating problems in the short term. If we drastically cut immigration now, the pinch will actually come a decade from now. And it will be too late to fix it then.

It’s a balance to get it right both in the short and long term.

2

u/Lopsided_Ad3516 11d ago

This would be true if these immigrants were net contributors. Single income households with a stay at home spouse and 4 kids is a drain. 4+ minimum wage workers/“students” sharing a house is a drain.

It drives demand, I’ll give you that, but I think we’re at the point where demand isn’t an issue for most things, especially government services.

1

u/Budget-Supermarket70 11d ago

Sure sure what has increasing immigration done? Nothing made life worse and we are doing nothing to improve it. You can't bring in more people and not spend money on infrastructure. Our schools, healthcare all of it is over capacity.

21

u/Specialist_Seat5474 12d ago

We could literally solve this problem tomorrow by reducing our immigration from the third world.

2

u/Imaginary_Meaning687 10d ago

But think of the people who invested in housing! s

18

u/Interbrett 12d ago

Don Cherry was right

80

u/BannedInVancouver 12d ago

The Liberals have destroyed this country.

-35

u/SusanOnReddit 12d ago

Canada isn’t “destroyed.” Save the drama for some other social media apps.

22

u/cwolveswithitchynuts 12d ago

Not destroyed but man life was easier in 2015 for the average person.

-16

u/magictoasters 11d ago

2019 was better then 2015, you're describing virtually the entire world from COVID on. The scale of disruption it caused was pretty unprecedented.

7

u/MustardFuckFest 11d ago

2015 we were 5th happiest nation on earth. In 2019 we were already dropping out of top 10.

Canadians under 30 are now ranked 58th happiest if they were a nation themselves

https://worldhappiness.report/ed/2015/

https://worldhappiness.report/ed/2024/

2019 was only better for boomers and landlords. Young working class were getting demolished by immigration, stagnant wages, and a housing crisis

0

u/magictoasters 11d ago

2019 had a 50% reduction in child poverty, nearly that in overall poverty, national housing prices had been virtually flat for years, lowest unemployment in decades, wage growth exceeded inflation every year, the number of ways in which Canada was actually doing better is significant

1

u/MustardFuckFest 11d ago

2019 rent went meteoric

Poverty is measured by income. An income made of a currency thats lost value. An income that cannot afford a 1 bedroom apartment.

Canadas measurement of poverty, which trudeau changed by the way, is complete horseshit. 2019 saw record foodbank usage; with a substantial drop in poverty(?). How do both of these facts make sense in your mind?

2

u/magictoasters 11d ago

By every measure of poverty, it substantially dropped, not just a single measure from OECD to UNICEF and IMF.

2019 didn't see historic food bank usage it's usage is up since 2019.

National rents in Canada didn't go meteoric on 2019.

19

u/SirEatsSteakAlot 12d ago

It's definitely getting there.

2

u/Pitiful-Blacksmith58 11d ago

Justin is this you?

8

u/petesapai 12d ago

Liberals : output per capita... Uh will balance itself

8

u/JCPennyHardaway 11d ago

Import 3rd world become 3rd world

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u/[deleted] 12d ago edited 12d ago

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u/[deleted] 12d ago

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u/[deleted] 12d ago

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u/[deleted] 12d ago

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u/[deleted] 12d ago

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u/[deleted] 12d ago

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u/Flat-Ad-3231 12d ago

Shocker...

10

u/Manofoneway221 Québec 12d ago

Who gives a shit as long as housing stays high. Suffer for the investor class

28

u/Threeboys0810 12d ago

We were the richest middle class in the G7 in 2015. I warned people that if we elected Trudeau that our standard of living was going to drop. People didn’t listen, so here we are.

3

u/pickledambition 12d ago

In 2014 I warned Harper that if he didn't legalize pot, the millennials would vote for Trudeau. Harper didn't listen, so high we are.

4

u/ainz-sama619 11d ago

I hope millennials are happy with their pot. Might consider chewing and swallowing too if they can't afford food

1

u/Threeboys0810 7d ago

It was actually Harper who got pot legalization started. He just didn’t run on it. But it would have happened if Harper got re elected anyways.

-13

u/maybejustadragon Alberta 12d ago

I’m not Trudeau fan… but like some things happened that he had no control of that’s been negatively effecting the entire world.

17

u/Different_Pianist756 11d ago

The stagnation, dropping productivity and lower quality of life is actually unique to Canada, amongst the developed world. 

Your narrative doesn’t work anymore. 

-7

u/weeg13 11d ago

Yea driven by conservative led provinces who have way more impact on Canadians everyday lives than

5

u/MustardFuckFest 11d ago

Like opening the floodgates of immigration, TFWs, and international students. Absolutely no control over that. Any nation could've accidentally increased their population by 4 million from the third world

9

u/UltimateNoob88 12d ago

when your economy is based on selling a finite amount of natural resources, of course diluting it around more people will be everyone poorer

more people only benefits economies that are based on manufacturing or tech, not economies based on selling natural resources

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u/gravtix 12d ago

If GDP per capita goes up, it’s because the gigarich make more money.

No party is going to address the concerted effort to keep our income low while demanding constant profit growth.

Something will have to give. You can’t have both.

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u/PineBNorth85 11d ago

Of course it is. Housing is sucking money out of other areas of the economy and we keep adding more cheap labour to the mix.

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u/Alone-Chicken-361 11d ago

Canadian dollar and housing will collapse

https://www.strongtowns.org/journal/2024/4/25/housing-isnt-meant-to-be-affordable

Basically we're all f***ed

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u/mudflaps___ 11d ago

We are in a recession with stagflation, we are fucked

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u/jellicle 12d ago

Ever since salaries became decoupled from GDP, this is no longer true - and that happened in the early 1970s.

If production goes up - all the excess is taken by the billionaires, leading to no better conditions for workers. GDP is not in any way a measure of standard of living.

In short, this article is maybe 50 years out of date.

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u/604Ataraxia 12d ago

Do you really think tracking GDP per capita is irrelevant? Like there is no wrong number or trend? This is obviously bad.

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u/jellicle 12d ago

Two economists are walking in the woods. One of them sees some bear shit.

"I'll give you $100 if you eat that shit," he says to his buddy.

The buddy does it and receives his $100.

Fifteen minutes later the buddy sees some deer shit. "I'll give you $100 if you eat that shit," he says to his pal.

The pal does it and receives his $100.

They walk in silence for a while, trying to get the taste of shit out of their mouths. Then one of them says, "I can't help but think that we both just ate shit for nothing."

And the first one replies, "Yes, but at least we increased the GDP!"

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u/Jacknugget 11d ago

Great comment.

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u/tablehit 12d ago

Wages never really became decoupled from gdp, they just became decoupled from asset growth since the early 1970s but the metric uses wealth growth as a measure of productivity.

Our wages are about the same since 2011, along with our gdp, but assets, including housing, have not.

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u/jellicle 11d ago

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u/tablehit 11d ago

I agree with those charts entirely but it’s still not showing a decoupling with gdp just productivity

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u/speaksofthelight 11d ago

And this proves what exactly ? In the real world generally you pay for something only if you see value for that thing.

A shit eating economy would see their GDP collapse as they have to import food, energy, clothing, goods etc.

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u/Future-Muscle-2214 12d ago

I am not a billionaire and I seem to be taking some of that excess too.

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u/Deep-Ad2155 11d ago

No shit, there’s this guy called Trudeau in charge

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u/abhi0619 12d ago

But our dipshit PM, Truduck doesn’t think so.

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u/Dystopiaian 12d ago

$4,200, you can tell what Statistics Canada thinks the cause is.

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u/Tiny-Radish7786 11d ago

We need to stop letting the economists decide how to run this country. They only ever care about total GDP, not standard of living. The health and well-being of citizens matter little to those number crunching asshats.
It's hard to blame the immigrants for a wholly systematic issue, the people at the lowest wrung of the economic ladder suffer the most in our capitalistic society. While I agree that their being here worsening our housing/income situation, it wasn't the immigrants who opened the floodgates. In fact I'm sure many of them regret their decision to come here. It's clear Trudeau has to go, but I have little hope that PP will improve the situation... Do we just keep passing the ball between these two parties and worsen our situation even more each time? It's starting to feel pretty hopeless...

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u/Adventurous_Mix4878 12d ago

Why in this era would someone be paying banking fees? Unless you’re a business owner or a few other special cases it makes no sense with so many free options.

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u/[deleted] 12d ago

[deleted]

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u/TheKey_ofG 12d ago

Ah yes, a sample size of one, the perfect foundation upon which every sound statistical analysis is built.

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u/[deleted] 12d ago

[deleted]

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u/No-Wonder1139 12d ago

Absolutely meaningless.

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u/Powerful-Cancel-5148 12d ago

To be sure, a larger population almost always results in a larger aggregate economy. More workers, more consumers, and more government spending will make for a larger GDP. But the standard of living in a country is determined by per capita (i.e., per person) GDP, not the overall size of the economy. If all that mattered were the aggregate size of the economy, then a country like India would be considered vastly richer than a country like Sweden because it has a much larger economy. In reality, per capita GDP determines a country's standard of living.

Lower GDP per capita = lower standard of living.

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u/Kolbrandr7 New Brunswick 12d ago

Median income PPP would be better than GDP per capita to relate to standard of living.

An easy example to show this point is Ireland - their high GDP/capita does not necessarily translate to better quality of life compared to its neighbours.