Canadas GDP

[jazz]

First quarter (blockades, start of covid), down 8.2%
2nd quarter, (overreaction lockdown), down 38.7%
3rd quarter coming up...

And our new green socialist deal is supposed to bring us back from the brink. Without robust oil and natural resource exports, Canada is sunk.

https://globalnews.ca/news/7303230/canada-gdp-q2-2020/ Canada’s GDP dropped 38.7% between April and June: Statistics Canada

[dmlfarmer]

And under the financial genius of Trump the second quarter GDP in the US dropped by 32.9%, the worst ever quarter in the US. https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter Third quarter coming up and likely worst than Canada's due to second wave of Covid hurting US more than Canada.

[AlbertaFarmer5]

So, the question is, is this an unintended side effect, or an intentional consequence? Given the political leanings of some key figures in Canada's current government, I would suggest the latter.

[blackpowder]

You guys are such dinosaurs.
There's a machine now that just spits it out.

[dmlfarmer]

So, the question is, is this an unintended side effect, or an intentional consequence? Given the political leanings of some key figures in Canada's current government, I would suggest the latter.

And since the drop in US is statistically comparable to Canada, I am sure you are asking the same question of Trump and the Republican government there.

[jazz]

Time for dmls education.

This is the TSX vs S&P. Remember, our economy relies on 90% of its trade with the US. We are inextricably linked to it and it still got fcked up by Trudeau and gang.

TSX was lagging by 10% before covid, crashed 10% harder and now lags the US by 20% in the post lockdown.

US just put its economy on course for the stratosphere. Ours heading into the green ditch.

[dmlfarmer]

Time for dmls education.

This is the TSX vs S&P. Remember, our economy relies on 90% of its trade with the US. We are inextricably linked to it and it still got fcked up by Trudeau and gang.

TSX was lagging by 10% before covid, crashed 10% harder and now lags the US by 20% in the post lockdown.

US just put its economy on course for the stratosphere. Ours heading into the green ditch.

[ATTACH]6544[/ATTACH]

And for your education, the S&P index is not a sign of the health of the economy, it is a reflection of the value of a small number of stocks, the price of which was artificially inflated by the 5 trillion or so Trump has printed and pushed into the economy in the last few months.

[jazz]

And for your education, the S&P index is not a sign of the health of the economy, it is a reflection of the value of a small number of stocks, the price of which was artificially inflated by the 5 trillion or so Trump has printed and pushed into the economy in the last few months.

Trudeau printed 500B, where did it go?

When the Q3 US GDP number come in along side Canada you will fall off your chair. Its going to be a blow out.

You can educate us all then.

https://www.msn.com/en-ca/news/canada/fitch-ratings-issues-new-warning-over-federal-spending-government-debt/ar-BB18rrW0?ocid=spartan-ntp-feeds Fitch says in a note that gross government debt will be 120 per cent of economic output, which is "significantly higher" than the median for a double-A rating.

[AlbertaFarmer5]

And since the drop in US is statistically comparable to Canada, I am sure you are asking the same question of Trump and the Republican government there.

Yes, definitely asking the question if it is intentional or not, on both sides of the border. Also asking if the instigators are the ones in power or not, and it would seem that the answer is different in each case, what do you think?

[Austrian Economics]

My greatest concern is that much of the drop in GDP is the result of the shutdown and/or downsizing of productive businesses impacted by the lockdown. Most of these businesses were producing goods at a profit that consumers demanded and actually had the means to pay for. Now that Naomi Klein is effectively running the country, this productive business activity will be replaced by money-losing "green" concerns that churn out goods at a loss for consumers who would prefer not to buy them if allowed to objectively evaluate their choices.

The government's reaction to the pandemic at all levels has been to borrow and destroy staggering amounts of productive capital. They are basically paying some people to dig holes and others to fill them in. Because of the current definition of GDP, would count as growing the economy, and they are just getting started. The CERB cheques and the obsession with Universal Basic Income are evidence of this.

[blackpowder]

Cannot agree more.
The most alarming fact is that no one is alarmed.

[Guest]

My greatest concern is that much of the drop in GDP is the result of the shutdown and/or downsizing of productive businesses impacted by the lockdown. Most of these businesses were producing goods at a profit that consumers demanded and actually had the means to pay for. Now that Naomi Klein is effectively running the country, this productive business activity will be replaced by money-losing "green" concerns that churn out goods at a loss for consumers who would prefer not to buy them if allowed to objectively evaluate their choices.

The government's reaction to the pandemic at all levels has been to borrow and destroy staggering amounts of productive capital. They are basically paying some people to dig holes and others to fill them in. Because of the current definition of GDP, would count as growing the economy, and they are just getting started. The CERB cheques and the obsession with Universal Basic Income are evidence of this.

exactly , why not build , rail lines , roads , infrastructure ????????
put people to work progressing canada?

[ajl]

Comparing the canuckistani and US economies is comparing an apple to an orange. As Austrian alluded to there is far too much government activity included in the GDP figure of canuckistan vs the US. There is some in the US figure to be sure, but there is next to nothing left of the real economy in canuckistan. You have to ask yourself if what you are producing is something a willing consumer would chose to buy and is the price set in a free market environment. So food production for most part is in but a tax audit is not included in the real economy. Neither is most of the activity of lawyers, accountants, compliance officers etc.

[furrowtickler]

And under the financial genius of Trump the second quarter GDP in the US dropped by 32.9%, the worst ever quarter in the US. https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter https://www.bloomberg.com/news/articles/2020-07-30/u-s-economy-shrinks-at-record-32-9-pace-in-second-quarter Third quarter coming up and likely worst than Canada's due to second wave of Covid hurting US more than Canada.

We live in Canada , who cares if the US is better or worse ...
we have a major problem here as well , why not admit it instead of “ya but Trump ... “
Talk about zero credibility when the only response is “ya but Trimp “