Today's discussion:

Canada’s economic future is looking grim—especially when compared to the U.S.

Despite population growth and a market size now topping 40 million, we remain, compared to the U.S., a relatively non-competitive and closed business market dominated by duopolies and oligopolies.

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Comments (23)

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The Hub Staff

Thank you for participating in Hub Forum. For more on Canada versus U.S. economies, check out David Frum’s dialogue on the topic: https://thehub.ca/2023-12-08/should-we-really-be-so-pessimistic-about-the-economy-david-frum-on-the-u-s-and-canadas-diverging-economies/

16th January 2024 at 1:50 pm
Mark

My only worry about Canada’s immediate future is that if Poilievre can win his majority and then start to dismantle all of the ridiculous and woke policies and nonsensical legislation that JT had passed, Canada will undoubtedly reap the ire of the WEF, and there will be a landslide of attempts to upset this new government. I sincerely hope that despite this Poilievre stays the course, and reverses many of the bills that have infringed on Canadian’s rights and freedoms, and hopefully that will help Canada move forward.

16th January 2024 at 7:02 am
Eric

“reap the ire of the WEF”

I hope most Hub readers are above this level of discourse.

16th January 2024 at 7:35 am
Michael F

If you’ve been here for a while you’d know that this is the level of discourse here for the most part. It’s the same vitriol as the National Post with a bit of lipstick.

16th January 2024 at 9:21 am
Ray Howarth

The fact that anyone ‘down-votes’ this comment is, in itself, very worrying!

16th January 2024 at 9:00 pm
Richard Courtemanche

Would you prefer feeding the alligators as long as possible hoping to be eaten last? Take a good look at the demented oligarchs taking global control! Only slavery and death are possible by submitting to evil. Next time there’s a Freedom Convoy or pro-nationalist movements, join in.

16th January 2024 at 12:07 pm
John Bucher

Next time there is a Convoy ( hardly a freedom convoy but a conspiracy theory convoy) I hope the police will remove the trucks immediately into a very large dumpster and save normal thinking folk from having to put up with all the convoy BS.

16th January 2024 at 7:58 pm
Richard Courtemanche

Quite sinister, indeed. Some call this the Argentinization of the nation! Canadians are burdened by two Schwab mentees and a horde of cowardly Liberals and socialist New Democrats with no loyalty to Canada, too many of whom in government have foreign allegiances. Lots of wolves in the house.

Has this government debacle gone too far for a new party to fix? Have too many politicians of all stripes already submitted to the NWO, WEF, etc.? Are Canadians generally too passive to fight?

It is sad and revolting that in a nation of supposedly intelligent and competent professionals, traitorous fools cannot be weeded out and prosecuted for treason and other crimes. Shame on us!

16th January 2024 at 11:55 am
Michael F

You need help. Seriously. Even Mulroney gave Trudeau a tip of the cap for his stewardship during the pandemic.

16th January 2024 at 7:55 pm
Richard Courtemanche

A Liberal who won’t identify himself. I know, it’s shameful.

“Even Mulroney gave Trudeau a tip of the cap for his stewardship during the pandemic.” What does that matter in the whole scheme of things? The nation has never seen such deterioration of the loss of freedoms, censorship, economic sabotage, etc., under cultural Marxism.

How could so many people be so naive, indifferent, indoctrinated…

16th January 2024 at 8:32 pm
Michael F

Have most of your family stopped talking to you because of your paranoid delusions? Maybe take that as a clue that you need help.

16th January 2024 at 8:56 pm
Mark S

Today’s article on Canada’s economic future presents in my view an accurate assessment of Canada’s past
economic performance and future challenges. I agree we have to focus far more on per capital GDP growth
then national GDP growth. The federal government has mismanaged the controls on the influx of people
into Canada which is noted in a report from the National Bank which was reported in the Globe and Mail
(business section) in two articles on January 16. Our immigration system was broadly supported by most
Canadians however the influx of foreign students and individuals on temporary work permits was not
properly considered by the federal government despite concerns raised by the civil service in 2022.

16th January 2024 at 10:28 am
Daryl Watt

As long as the Trudeau government keeps putting up roadblocks to development and increasing taxes on almost everything we need to run a business, there will be a very grim future for Canada.

16th January 2024 at 6:53 pm
Paul Attics

Does Per Capita GDP trends accurately predict standard-of-living changes. Is the growing differential between the US and Canada inherently negative? That is, is the current trend really “dire”?

On population: Does the inclusion of 800K foreign students each year depress/skew this metric (i.e. spread out the GDP among more people that are not producing much as they are in school)?
On economic growth: Does 800K foreign students depress ‘intensive growth’ enough to explain some of the lower GDP-per-capita decline?
On Capital Investment: Again, temporary, and low productivity population (workers and students) lowers the per-capita GDP. As such, would the total capital investment be more salient than the per-capita capital investment metric?
On R&D: Unsurprisingly, chronically declining spending on R&D is going to hurt GDP over the medium to longer term.

On Structural Economic Issues: We seem to pay an obscenely huge premium to our duopolies and oligopolies for what benefit?
On Policy Environment: The resources and opportunities lost to intra-government squabbling over the single source of money (citizens) is a long-term disgrace.

Bottom Line: Along with the mismatch between population growth and infrastructure (particularly housing), these two previous issues seem to be depressing our standard-of-living the most, no?

16th January 2024 at 9:39 am
Paul Crawford

A good indicator is US manufactured food products disappearing from Cdn shelves, manufacturers from the USA find they cannot make a profit after shipping costs, ie Kleenex, Skippy peanut butter, some cereals. Shipping costs of all products around the world, will double and triple. We ain’t seen nothing yet, as they say!

16th January 2024 at 1:46 pm
Michael F

Kleenex pulled out of the Canadian market because they couldn’t compete with the comparable Canadian product. The parent company still distributes toilet paper and wipes here.

16th January 2024 at 7:54 pm
A.Chezzi

🇩🇪 0.3%. How much Germany’s economic output contracted last year, making it the worst performing major economy of 2023. Elevated energy costs and high interest rates were driving factors.
So, is Canada as desperate as we are led to believe?

16th January 2024 at 8:38 am
Paul H

Read the article again. This article is a comparison of the real GDP of the USA and Canada not Canada and Germany.

16th January 2024 at 8:57 am
Kim Morton

Actually, it is much worse than the sugarcoated information we get would suggest.

16th January 2024 at 9:45 am
Paul Attics

A delightfully dense analysis. I’ve got nothing further to say until I read it again!

16th January 2024 at 8:00 am
Michael F

The doom and gloom squad is at it again with their daily everything is terrible reporting.

16th January 2024 at 9:22 am
BobSt

Well doesn’t reality suck Michael…. I have to assume you much prefer the rainbow and unicorn reporting of the MSM. And by the way, if you dislike the vitriol spewed here so much why do you read it?

16th January 2024 at 9:37 am
Michael F

Because unlike you lot I read news that I don’t agree with too.

16th January 2024 at 10:09 am