Kirk Lubimov- Canada’s week recap:
* Canadians reelected the same people that generated the worst economic stats over the last 10 years just now with Mark Carney as Prime Minister who promised to put Canada even more in debt.
* Deloitte predicts an economic downturn this year.
* Fitch raises the alarm on Canada’s rating standing with Canada’s economy, debt and Mark Carney’s platform.
* Canada’s real GDP grew 1.6% in 2024 with a population growth of 1.8%.
* Real GDP contracted 0.2% in February.
* Canada’s official poverty rate is 10.2%
* Canada’s auto parts compliant with CUSMA won’t be hit with tariffs.
* Canadian direct investment abroad grew by 12% – $264.B in 2024 while foreign direct investment into Canada grew by $77.8B most driven by M&A.
* Young people (25-44) overwhelmingly chose Alberta as interprovincial migration hit a record gain in that demographic with 18,413 people.
* Ontario is leading Canada in losing young workers.
* Quebec is pulling the plug on investing anymore into Lion Electric and will lose about $140M.
Oh and Team Canada still hasn’t attracted a single penny into Canada.
Here’s comes the Carney Crash.
oh the Carnage
I predict a lot of buyers remorse in Toronto when the immigration rate doubles and they -all- come downtown to deliver doordash.
There will never be remorse in Toronto. Only intensified hatred of Alberta.
You assume Torontonians have self-awareness.
They do not.
I mean this seriously. If in the near future Carney does a speech and says “This is the new normal”…..RUN!
Everything he’s proposing and doing is exactly the opposite of how to relieve an inevitable Recession. You can’t spend yourself out of one. That’s been tried and tried and tried. It only complicates the attached and resulting inflation. If I didn’t know better I’d say he’s purposely leading the country towards a “Reset”.
Carney’s own words: “This new hierarchy of values will call for a reset on the way we deal with climate change, which, like the pandemic, is a global phenomenon. No one can “self-isolate” from climate change, so we all need to “act in advance and in solidarity”.” Let me define Carney’s version of “solidarity.” Solidarity = My way.
I believe Carney is going to tank various select industries hoping to replace them with his version of “green energy.” The three core components of the Great Reset: creating conditions for a “stakeholder economy”; building in a more “resilient, equitable, and sustainable” way, utilizing environmental, social, and governance (ESG) metrics; and “harnessing the innovations of the Fourth Industrial Revolution.”
I hate to say it, but I think you guys just let a fox into the hen house. And, he’s the type that’s not used to anyone telling him “No”.
With Carney’s version of green energy, we better pray for rapid climate change, or it’s gonna be a long winter.
No worries … just put on another Canada Goose puffer jacket. With imitation wolf collar.
You all have an extra $3k to “buy Canada”, eh?
ELBOWS UP!
So maybe in a couple of years a Canadian delegation is going to rock up in Washington DC going “Um, we’re a bit skint up here. You remember that 51st state idea … don’t suppose … ?”
Don’t worry, Carney is almost at his majority, now that Elections Canada has flipped a seat for another Liberal MP.
https://archive.is/tBD8K
JD – Elections Canada must not have much sway in Quebec… https://www.theglobeandmail.com/politics/federal-election/article-quebec-riding-of-terrebonne-flips-from-liberal-to-bloc-quebecois/ There could be a recount though.
And Quebec will demand that the rest of Canada, Ottawa, will bail them out of that $140M.