Hello, this is the first RU-vid video I've seen that tells it like it is. Some of us may have suspected this, but many commentators are afraid or unwilling to voice how dire things have become in Canada. We've had just terrible government management at all 3 levels (and in most provinces) that has focused on feel-goodism and ever-increasing bureaucracy and taxation, while doing nothing at all to foster business growth, innovation and dynamism, which are the ultimate source of prosperity and therefore, of taxes as well. They have drained the country's capital and income while doing nothing to replenish these. Hence, the mess we're in. The Trudeau government's legacy has been to prioritize easy, "soft" things that sound good (such as more equity, more inclusionism, etc.), bloat the civil service, and impose more and more regulations on businesses and individuals. The provincial and minicipal governments have followed suit. The housing crisis has been a slow-burn disaster that took years to get to this point, and was completely exacerbated by the utterly ridiculous immigration situation of the last few years. This too will take a long time to fix. If you compare Canada's situation to other countries internationally, you see just how terribly the country has been performing. The fact that the U.S. also has serious problems shouldn't make us feel better or superior in any way. There's a lot that needs fixing and I don't currently see any leadership talent that could do what it takes.
And don't get me started on the capital gains tax increase. 🫣 What, exactly, does the government in its wisdom think will happen? The wealthiest, most productive individuals will seriously consider leaving Canada (many will), leaving behind less talented and less productive individuals, those requiring more assistance, etc., and the available income to be taxed shrinks, leading to more government borrowing, Canada being seen as a bad place to live, invest and have a future in, etc. etc. It's a spiral that's already starting to happen.
The government's crisis response played a pivotal role in alleviating market concerns. Both the U.S. and other nations' economies were affected by a lack of transparency and diminished public trust. This leads me to question the moral appropriateness-and even the safety of relying solely on analyses from these purported experts. I sincerely hope we can avoid a recurrence considering the direction we're headed.
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Excellent comments from your guest. Very sound fiscal discussion. I liked that his comments were non political and more based on macroeconomics. He shed a lot of light on what we are seeing and feeling in Canada and other G7 nations. We need to get economists and fiscal decision making not self serving political decision making that is void of economics like we have had for decades under various governments. Productivity in Canada is low. Like the guest speaker said we need to promote Canada as a stable place to invest Capital long term and have attractive economic policies. Very simple. No fighting between provincial and federal government. This scares investors away. Political retoric needs to dial down. Politicians need to be honest, shut up and problem solve with economics advisors and be prepared to deliver and explain the truth to the citizens so we understand what the plan is.
Maxime Bernier is an economist, and a true Canadian. Something these boomers or yourself could NEVER claim. Godless and living in Canadian boomer excess? I say god bless!
What if StatCan has been wilfully or unknowingly omitting the immediate outflows of immigrants from the airports in Toronto? And have been doing so for the past three decades or more?
Der Freelander constantly claims great outcomes measured against the G7 . But she includes in the GDP Canadian pension plan. Measured against the OECD, which doesn't use the cpp as a government asset . It is owed and was paid for by the pensioners, OECD says we are last. But the government has maket capture of the media by government subsidies. So this is never " noticed ".
No Because Japan has spent massive Capital modernizing and improving their production output per person, Where Canada has not. SO our investment, productivity and capacity would take a decade to solve. Japan has population decrease plus the unique attitude for westernized nations of Gaijin. Or Foreigner. That can never really become Japanese, You can become Canadian regardless of where you come from. If you fight for and support Canada first.
It’s got to do with NAFTA that Trump shifted to America’s favour in 2019. As a former board member of a forestry company, it has been best to sell to Americans and large Canadian companies in the Lower Mainland. Fiber prices are fluctuating and money talks. I know from my logging truck companies are driving logs from Quesnel, Prince George, Castlegar, to mills in Washington state in raw log forms;; due to NAFTA negotiations that floundered under Trump. Trump took NAFTA negotiations from a major slow down to just being a mild speed bump.
I Think it has more to do with old Stumpage fee's in British Columbia vs the exported processed product and the mismanagement of it under the NDP during the USMCA renegotiation of NAFTA.
Tax being a deterrence for bad behavior, what does that mean for the Goods and Services Tax and the provincial taxes? Was that an implicit message to abandon all hope ye who linger here (in Canada)? 😆
