Financial Post- Canadian economy headed for recession this year, according to Deloitte outlook
Business investment is expected to fall by 11.5 per cent in the second quarter and by 3.5 per cent in the third quarter, due to uncertainty brought on by the trade war. This is supported by recent surveys by the Bank of Canada, which show 22 per cent of firms plan to back off on their investment plans.
This has always been coming. In December (I think) Stats Can reported that we have been in a defacto recession for some time if not for population growth. I believe what’s coming will be really bad.
I believe it’s why Ford went to the polls a year early, and now is looking to bail for a federal job, before any of the stink of the rotten economy can stick to him. Poilievre might have actually avoided quite the land mine here, as he would have owned this if he had won.
P.Opus … “Poilievre might have actually avoided quite the land mine here, as he would have owned this if he had won.” Totally agree !
I also believe the early euphoria about a PCP majority was merely a statement of hate for Trudeau , but all those boomers etc. who perpetually vote Liberal were never going to vote CPC , and that is what happened.
With regard to Poilievre , the term “controlled opposition” comes to mind. On freedom of speech he forced 3 CPC members to publicly grovel for the dastardly crime of talking with Christine Anderson MEP / Afd (Germany) about freedom of speech. He also never clearly articulated his position on many 3rd rail issues , which only enhanced my feeling that if he had been elected he would have been “controlled opposition” guided by unseen hands.
“controlled opposition”
That is exactly what the few remaining Maxipads are.
I want Ford to be the CPC leader. I want that very badly. The resulting inability to fundraise and subsequent implosion at the polls would be absolutely epic. Probably sewer the party with a worse result than Kim Campbell. He only has a career in Ontario because of the ineptitude of the other parties. I have no idea how, in a province the size of Ontario, they’ve managed to degenerate so far that Blubber Dougie even has a job in the provincial government above janitor.
Keep dreaming Maxipad. Pierre outperformed Ford in Ontario.
Ha! You silly simpletons! Don’t you know the Greatest Economist Ever (TM) has ALL the answers! Why, the only thing really affecting our economy is the bad, orange man. The Greatest Economist Ever (TM) will look him in the eye and the bad orange man will shrink away for sure!
Then, important, economy building steps, will be put in place like:
1> Introducing a home equity tax
2> Taxing your gas powered vehicle
3> Introducing a wealth tax and forcing to pay tax on unrealized gains by marking to market
4> And finally! Killing the oil and gas industry that contributes over 10% to the economy and introducing jobs to wipe Chinese solar panels
The referendum can’t come soon enough
Chris
Addendum to point 3. You’ll pay tax on unrealized gains, but will not be allowed to deduct unrealized losses.
5. Carnage will force cement plants and steel plants to go all electric. This will increase costs for many industries.
Thanks Joe, I forgot that critical issue.
They will be sure to not allow deducting unrealized losses because the market collapse from capital flight will be horrendously massive!
Somehow, family trusts will escape the massive tax increases
Those all electric cement and steel plants will have to fight for their share of the electricity grid with the all electric AI gigi-centres and all electric crypto-currency mining operators.
Shark Tank’s Mr. Wonderful is Building the World’s Largest AI Data Center in Canada
Amazing how that works. Heads you win, tails I lose.
You left out that Trudeau already spent lots of money converting existing primary steel furnaces to electric arc furnaces for “efficiency reasons” meaning that we will continue to export iron ore in order to import steel for the purposes of “finishing”
I mean, it literally says ‘due to the trade war ‘. You know, the one that el Cheeto waged against his country’s closest allies. But of course you self loathers project your own insecurities yet again by blaming the victims here.
Can you people stop being so pathetic for just, like, a single day?
And you wonder why Canada rejected your politics. Again.
Remarkable – nothing to do with debt and deficit over the last decade – destruction of international investment, 50 bill per year in interest payments, but 2 months of Trump.
This is why you keep electing Liberals moron.
Make sure you keep chanting “elbows up!” while you’re waiting in line all day for your daily ration of bugs.
We have been in a recession a long before Trump took the mantle. Bad policy after bad policy has got us to this point.
You are not a serious person.
What Trade War? An entire US Office needs to be created to assess the American content of each vehicle to determine the cost of the tariff.
IN OTHER WORDS – NOTHING will be Tariffed.
IDIOT SELFISH UNSERIOUS BOOMERS.
Your retarded Aunts and Uncles elected this destroyer Carney.
Phuk Ewe from a BOOMER!!
I’ve been too busy witnessing and experiencing the effects of Canada’s decline in virtually every performance indicator except growth in the public sector since 2015 to agonize over American political and cultural wars since January 2025. Apparently Liberal fanboys completely flip that order of focus. electing a Goldman Sachs wanker to find a way to recovery. Isn’t going to happen, Assh*t.
Who are you calling “shelf loafers”?
My guess is that we’re in for a significant world wide recession. The bill from covid overspending is now due and needs to be be paid. Hopefully it’s just a typical 18 to 30 month recession. Tariff wars and other events may make it worse but covid overspending is the root of the problem.
While the Liberals are currently rejoicing the election of globalist / Net Zero proponent Carney , Trump is railing against globalist control and Net Zero lunacy , putting Canada and the US on radically different trajectories.
The US is in decline and Trump is intent on imposing sanctions and tariffs in a futile attempt to maintain US hegemony and destroy China financially. Prior to Trump’s tariffs , China had already replaced pork , wheat , and soybean imports from USA/Canada with those from Brazil … so where is Canada going to find a new market? No doubt Carney will solve that problem quickly.
Carney has stated that he will remove Canada from the USMCA , which is exactly what Trump wants. With trade geniuses like Doug Ford backed by globalist Carney , we can look forward watching Ontario being royally screwed during subsequent trade negotiations with the US. Don’t forget that Trump wants to force the auto manufacturing to move back from Ontario to USA.
If you look at the electoral map , the West is totally opposed to Carney … have a nice term Mr. Carney.
Rather than rejoicing , the Liberals should actually have wished for a Poilievre win as the upcoming disaster is now on them.
July 1980 interest rates on farm machinery purchases was @ 10%.
March 1981 24%.
I believe this is coming again.
Expand the money supply…then shrink it with high rates. Production and wealth sucked up via interest, leaving the debt unplayable because there isn’t enough in circulation to cover it.
Dislocation, foreclosure and bankruptcy follows.
Impacting individuals and governments (you and me).
Carnage is the bankruptcy officer for the globalists.
The entire world is now entering a recession. It’s been coming ever since the pandemic spending spree. You can see it in growth figures since 2020 which can be characterized as economies that forgot how to grow. Now the growth is moving from barely positive to outright negative. The exponential rise in the debt burden is now becoming unsupportable which is going to be dealt with by a collapse in interest rates.
Funny that people don’t seem to realize that the fix is in between Trump and Carney.
They have a past, as it were.
Nefarious I’m sure.
Watch closely when they meet, they’ll each count their fingers after shaking hands.
We are going to have a recession?? LOL Government borrowing is the only thing hiding our previous 10 year depression. Remember modern economic theory would create no inflation? Well, the cat comes back,but sometimes it isn’t the next day.
https://financialpost.com/opinion/canada-worst-decade-real-economic-growth-since-1930s#:~:text=Philip%20Cross:%20Canada's%20worst%20decade%20for%20real%20economic%20growth%20since%20the%201930s,-Causes%20of%20our&text=Over%20the%20last%20ten%20years,growth%20are%20domestic%2C%20not%20external.
Impossible, there’s this oh-so-smart mortician who has just been elected. With his EU aristocratic-socialist experience, he will solve everything. Plus, he has the capable and competent team from Trudeau’s time. What can go wrong?!?
FILTHY LIBERALS
RETARDED BOOMERS needed to elect this “FINANCIAL GENIUS” to run up $300,000,000,000 deficits.
Why didn’t we just keep the chick that looked like a Garden Gnome Temu Barbie…only shorter?
LET ME BE CLEAR, MISTER SPEEEEEKER, Her deficits were way more awesome than Carneys
FILTHY LIBERALS
Again (from a not so retarded BOMMER) go phuk yer hat!!
I would say that, so far this week, the stock market’s reaction to the election has been cautious, as if it’s waiting to see what Carnivore is going to do.
It’s behaviour appears to be influenced more by what New York does and the roughly 200-point drop today isn’t unusual. It’s the end of the month plus today’s the deadline for filing one’s income tax return in this country. Tomorrow is May 1 and there’s the traditional saying of “sell in May and go away”, as it can get quite choppy.
The market can handle bad news. It loves good news. What it doesn’t like is uncertainty.
How can anybody not have seen a recession coming? Nobody needed Deloitte or (worse yet) CTV talking heads to tell them that.
Looks like Narco money laundering is the only viable industry remaining in Canada? Oh well …
Hate the Boomer!
Even better than Hate the Jew!.
This kleptocracy is collapsing,Other Peoples Money is in very short supply.
Our Dear Leaders are addicted to O.P.M,their sickness makes a Crackhead look like a model citizen.
One of the last,unlooted, pool of wealth is the property of Canadians at the end of their earning years.
What little we have been able to keep after decades of theft,waste and destruction.
The propaganda painting Boomers as the cause of our fiscal collapse,is deliberate.
The parasites want to steal that money,they must have their fix..OPM..
And there is no “low” in how low will they go.
So do the envious losers.
Not all aged Canadians practised basic economic sense..
Delayed gratification.
Do not spend what you do not have.
Keep some for a rainy day,for bad times will occur.
The crabs in our crab bucket,best described by the tale of the grasshopper and the ant.
It is the fault of the thrifty and industrious that some people partied all their lives and have nothing..
just ask any Progressive.
I include our Progressive Conservatives here..
It was Harper who passed legislation permitting your bank to steal your money,if they needed to..
Freezing your BankAccounts, comes from the same ethical standards.
Same bird different wing.
The Uni-Party has looted Canadians all my working life.
No politician campaigns on “Stop the Steal”,instead they run on “Managing the Theft better”.
When I started voting,ethics and conflict of interest were perceived as values.
Yet State Employees voting is the most basic conflict of interest in Government.
Unionized Government Employees having any say in taxation politics is criminal conflict.
Observe the “Wage negotiations” full on farce..
No one serves the tax payer.
Hence a large percentage of Canadians do not vote.
if voting would change anything,it would be forbidden.
All hail our great kleptocracy.
As the end stage become The State of Thuggery.