People actually handed their money over to these robber-barons.
Give your heads a shake:
Canadians are pessimistic about their own personal finances and the economic outlook of the country this year, with 82 percent saying Canada is in recession, a new survey shows.While Canada is not technically in recession, which is defined as two consecutive quarters in which the economy declines, the vast majority of Canadians believe it is and don’t expect 2024 to be any better.Pollara Strategic Insights’ annual economic outlook found that 52 percent of those surveyed expect Canada’s economy to worsen in 2024 while 24 percent don’t expect the economy to change. Only 15 percent believe it will improve.
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Groceries are so expensive Canada’s poverty rate is expected to rise this spring, says a Department of Social Development briefing note. Ongoing food inflation sees Canadians pay an extra 14 percent or more year over year for basic groceries like hamburger and peanut butter: “As food prices increase poverty thresholds are likely to follow.”
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“I spoke to a young woman in her 20s this week and it was kinda heartbreaking,” Butler recently posted. “She’s well-educated, has a good job she is striving to get better at and believes she has no economic prospects.”No prospects. What a sad thing to say. But it’s what more and more people are increasingly feeling.“Most poignantly,” Butler adds, “she believes she will never own a home in Canada: her parents are renters so there’s no huge gift coming. And although she lives outside the [Greater Toronto Area] her rent is too high to achieve any meaningful level of savings that might form a down payment.” A number of her friends have already left Canada for these reasons.
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Canada is sitting on top of a massive housing bubble kept inflated by an open immigration policy that is straining every form of infrastructure in the country.
— AnilVohra1962 🇬🇧🇨🇦🇺🇸 (@AnilVohra1962) January 9, 2024
Canada’s Minsky Moment is not far away. https://t.co/HGQwX9YEDv
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