In 2021, Prime Minister Justin Trudeau infamously said, “You’ll forgive me if I don’t think about monetary policy.” Unfortunately, Trudeau was being absolutely honest. He doesn’t think about monetary policy and the cost for the prime minister’s willful ignorance will be borne for generations. No, we shouldn’t forgive him. We should be trying to find a way to get that incompetent, unprincipled man out of office as soon as possible.The economic canary in the coal mine has been dead for years. The warnings were clear Canada was on a path to economic catastrophe but the Trudeau government ignored the signs and charged ahead with their agenda of mass spending coupled with mass immigration.As the government continued to borrow money and pour it into the economy, inflation followed. That’s economics 101 but unfortunately, Trudeau doesn’t think about monetary policy..The Trudeau government is on the rocks. Support levels indicate a pending electoral blowout such as none seen since 1993. Instead of re-evaluating what has gone wrong and trying to make changes though, the Trudeau government just keeps doubling down. To try and counter the inflation problem, the Bank of Canada has been cranking up interest rates. While that slows inflation, it also slows the economy as businesses defer capital investment and housing starts and sales slow down.To counter the economic slowdown and risk of a recession, the government has opened the floodgates to mass immigration. While new immigrants bring skills and resources that indeed spur the economy, they also consume resources. The influx of new Canadians has led to a housing crisis among other shortages in goods and services.With interest rates rising and housing prices going through the roof, mortgage delinquency rates are soaring. In Ontario alone, they have shot up 135.2%. Those are people about to lose the homes into which they put a lifetime of savings and investment.Younger people can’t even consider buying a home with current prices. They are forced to rent. Rents have been rising as fast as home prices though and people are being forced to bunk up. Between the skyrocketing cost of living and the addiction epidemic, homelessness has become chronic and is growing.In every province in the country, the healthcare systems are overwhelmed. Waiting times for hospitals and procedures are reaching new highs every month. Schools are under pressure too as immigrants pour into the system faster than the system can expand to accommodate them.In January 2024, business insolvencies in Canada went up 129.3% over January 2023. The taxes, regulations, interest rates and anti-business climate in Canada is crushing enterprises.Canada is becoming an investment pariah. While the prime minister may have no idea what he is doing to the economy, business leaders do. They won’t put funding into the economic basket case of Canada. It’s a global market and we're being left behind.It’s not just the bad monetary policies keeping investment out of Canada. It’s the attacks on businesses themselves. Grocers and oil company executives alike have been dragged before parliamentary committees where they are questioned on their business decisions. It is rather Soviet-like in feel which isn’t surprising considering Trudeau has partnered with a socialist to remain in power. How could any business leader want to set up shop in an environment like that?Having the government constantly attacking and shutting down proposed resource developments certainly isn’t helping either. It doesn’t matter if the nation sits on massive natural resource reserves if the government won’t allow it to be developed.The most frightening indicator of just how far up the economic creek Canada has gone is the GDP per capita ratio. To put it in lay terms, that’s adding up all the economic output in Canada and dividing it by the population. That ratio has dropped steadily for the last six-quarters and will continue to do so.The GDP per capita in the USA is about US$70,000. In Canada it’s US$52,000 and falling. The entire nation is becoming poorer and quickly.Trudeau has been on a mass hiring binge of civil servants but that only helps the unemployment figures. Civil servants don’t contribute to the economy. They drain from it.Canada has faced depressions and recessions before. Hard times have come and gone. What’s happening right now is different though.Canada’s economy is being dismantled and destroyed by the most incompetent and ideologically driven government we have ever seen.The only question we have is how long will we let it go on before pressuring the administration out of power? Trudeau isn't alone in not liking to think about economic policies.Apathy and ignorance of the economy are leading Canadians to disaster. People should be flooding the streets in protest as they see third-world economic status looming only a generation away. Instead, they are locked into watching their favourite reality TV shows.Until immigration and spending are reduced to realistic levels, the hole we are facing will only get deeper and those things won’t be happening as long as Trudeau remains in power.
In 2021, Prime Minister Justin Trudeau infamously said, “You’ll forgive me if I don’t think about monetary policy.” Unfortunately, Trudeau was being absolutely honest. He doesn’t think about monetary policy and the cost for the prime minister’s willful ignorance will be borne for generations. No, we shouldn’t forgive him. We should be trying to find a way to get that incompetent, unprincipled man out of office as soon as possible.The economic canary in the coal mine has been dead for years. The warnings were clear Canada was on a path to economic catastrophe but the Trudeau government ignored the signs and charged ahead with their agenda of mass spending coupled with mass immigration.As the government continued to borrow money and pour it into the economy, inflation followed. That’s economics 101 but unfortunately, Trudeau doesn’t think about monetary policy..The Trudeau government is on the rocks. Support levels indicate a pending electoral blowout such as none seen since 1993. Instead of re-evaluating what has gone wrong and trying to make changes though, the Trudeau government just keeps doubling down. To try and counter the inflation problem, the Bank of Canada has been cranking up interest rates. While that slows inflation, it also slows the economy as businesses defer capital investment and housing starts and sales slow down.To counter the economic slowdown and risk of a recession, the government has opened the floodgates to mass immigration. While new immigrants bring skills and resources that indeed spur the economy, they also consume resources. The influx of new Canadians has led to a housing crisis among other shortages in goods and services.With interest rates rising and housing prices going through the roof, mortgage delinquency rates are soaring. In Ontario alone, they have shot up 135.2%. Those are people about to lose the homes into which they put a lifetime of savings and investment.Younger people can’t even consider buying a home with current prices. They are forced to rent. Rents have been rising as fast as home prices though and people are being forced to bunk up. Between the skyrocketing cost of living and the addiction epidemic, homelessness has become chronic and is growing.In every province in the country, the healthcare systems are overwhelmed. Waiting times for hospitals and procedures are reaching new highs every month. Schools are under pressure too as immigrants pour into the system faster than the system can expand to accommodate them.In January 2024, business insolvencies in Canada went up 129.3% over January 2023. The taxes, regulations, interest rates and anti-business climate in Canada is crushing enterprises.Canada is becoming an investment pariah. While the prime minister may have no idea what he is doing to the economy, business leaders do. They won’t put funding into the economic basket case of Canada. It’s a global market and we're being left behind.It’s not just the bad monetary policies keeping investment out of Canada. It’s the attacks on businesses themselves. Grocers and oil company executives alike have been dragged before parliamentary committees where they are questioned on their business decisions. It is rather Soviet-like in feel which isn’t surprising considering Trudeau has partnered with a socialist to remain in power. How could any business leader want to set up shop in an environment like that?Having the government constantly attacking and shutting down proposed resource developments certainly isn’t helping either. It doesn’t matter if the nation sits on massive natural resource reserves if the government won’t allow it to be developed.The most frightening indicator of just how far up the economic creek Canada has gone is the GDP per capita ratio. To put it in lay terms, that’s adding up all the economic output in Canada and dividing it by the population. That ratio has dropped steadily for the last six-quarters and will continue to do so.The GDP per capita in the USA is about US$70,000. In Canada it’s US$52,000 and falling. The entire nation is becoming poorer and quickly.Trudeau has been on a mass hiring binge of civil servants but that only helps the unemployment figures. Civil servants don’t contribute to the economy. They drain from it.Canada has faced depressions and recessions before. Hard times have come and gone. What’s happening right now is different though.Canada’s economy is being dismantled and destroyed by the most incompetent and ideologically driven government we have ever seen.The only question we have is how long will we let it go on before pressuring the administration out of power? Trudeau isn't alone in not liking to think about economic policies.Apathy and ignorance of the economy are leading Canadians to disaster. People should be flooding the streets in protest as they see third-world economic status looming only a generation away. Instead, they are locked into watching their favourite reality TV shows.Until immigration and spending are reduced to realistic levels, the hole we are facing will only get deeper and those things won’t be happening as long as Trudeau remains in power.
