Canada is Becoming Poor, Here's Why...

Рет қаралды 4,520

Күн бұрын

In this video, we speak about why Canada is lagging behind other nations in terms of real GDP per capita growth... Enjoy!
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Video Chapters:
0:00 - Introduction
1:22 - Canadian Economic Growth
2:47 - Real GDP Per Capita
5:05 - Lagging GDP per Capita Growth
10:23 - Improvements on the Horizon?
#canada #GDP #economy
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Пікірлер: 73

@GriffinMilks 4 ай бұрын

Are you feeling the impacts of financial strain as a Canadian? Leave a comment below! 📈 🇺🇸 🇨🇦 Get up to $1,550 in FREE Cash with Moomoo (Stock Broker): j.moomoo.com/00Cwm8 📈 🇨🇦 Open a High-Interest Savings Account with NEO & get 4.00% Interest at all times!: bit.ly/neo-hisa -Griffin

@seolfor4797 4 ай бұрын

Canada is so broken - my 2 kids will never be able to buy a house - they are furious about that

@cuybueno 4 ай бұрын

And that is what the WEF globalists want. They are against private property and want everyone to rent only.

@GriffinMilks 4 ай бұрын

Unfortunate reality for sure!!

@cuybueno 4 ай бұрын

That's what these WEF globalists want. Everyone will rent in the future, no one should buy.

@cuybueno 4 ай бұрын

That's what the globalists want: everyone must rent, and nobody should buy.

@cuybueno 4 ай бұрын

Everyone must rent.

@cakeismtrader4227 4 ай бұрын

When a small house is $500,000 that’s $4,000 mortgage a month and most people only make $35,000 a year after tax… it’s time to move to another country maybe El Salvador

@GriffinMilks 4 ай бұрын

Good luck with the move! Thanks for watching

@jsurette7521 3 ай бұрын

It's shocking. Only a decade ago, Canada had one of the richest middle classes in the world. Median income was near US levels and the economy was still growing. Since then, real GDP per capita has gone nowhere and is now falling meanwhile the US has grown >30% in that same time! We're now a relatively "poor" rich country, and on our way to leaving the club entirely. Worst of all, this is a self-inflicted wound.

@anthonydansereau1076 4 ай бұрын

People need to vote conservative… also mortgage interest rates should be tax deductible like in the usa

@GriffinMilks 4 ай бұрын

Mortgage interest deduction would be amazing… and we dont even have 1031 exchanges either!

@terraineriley 3 ай бұрын

Great video thanks brother

@GriffinMilks 3 ай бұрын

Glad you enjoyed it. Thanks for watching’

@ericd5453 4 ай бұрын

Great video. Appreciate the more nuanced breakdown. Griffin for Prime Minister!

@GriffinMilks 3 ай бұрын

Glad you enjoyed it Eric!

@jessehamlin3420 4 ай бұрын

productivity per worker declining is not good, at least immigration is high - we could have a situation like japan where productivity is lowering and immigration is non existent and that would be even worse - another thing to consider is immigrants do take a few yrs before they start contributing to the economy so hopefully we will see that moving forward - all signs point to a change in government soon which will likely focus more on productivity per worker as well - hope is not lost imo

@GriffinMilks 3 ай бұрын

Thanks for taking the time to share your thoughts Jesse!

@jsurette7521 3 ай бұрын

Immigration is not intrinsically good (or bad, for that matter). But when a small country imports millions of people to depress wages slaving at minimum wage jobs (fast food, Uber) while chasing fake "diplomas"... well, that doesn't really seem good for anyone. Canadian quality of life is eroding and a lot of the newcomers are themselves victims, having been lied to and exploited.

@Dinoknows007 3 ай бұрын

Our economy is too highly dependent on housing relatively to other countries. Also the free trade agreement with US is hurting Canada.This country is just a branch location for business...why locate in Canada when you can serve the Canadian market from the US where cost is lower? Also, we produce graduates that will be poached by US companies. Similarly, our R&D success are bought over by US companies. Compare ourselves to Australia. We pay more in taxes because we get back more in public services, eg healthcare, child benefits etc.

@UltraVega924 11 күн бұрын

No, what you’re talking about is not the result of any free trade agreement. If anything, US companies should have more access. Canada is not as productive and competitive because there is less of an entrepreneurial spirit, less vision, less willingness to take risk, a lack of sufficient investment in R&D, and much less willingness to invest in the means of productivity. Not to mention the scores of immigrants flooding into the country without the infrastructure capacity to absorb them, or the reality that this is not leading to sufficiently increased economic productivity or growth. What we’re seeing is that the economic pie is not getting bigger as more and more people come to sit at the table. The slices are simply getting smaller and smaller. The result is a poorer country. Why wouldn’t workers go to the US? Along with lower productivity compared to the US, per capita GDP is far behind and the gulf is only widening. By 2029, the IMF projects Canada’s per capita GDP to be (USD) $68,441. The US? $100,580.

@Dinoknows007 11 күн бұрын

@@UltraVega924 Canada is not productive because our business are not spending enough on capital equipments. Our people work hard but the owners are not willing to buy the equipment to make us more productive. As a business owner with the goals of expanding into the US, why would you invest in Canada when you can setup in the US at a lower cost later and continue to sell to Canada from your US base? It is important to define 'immigrants' as the new spin by anti-immigration critics is to lump TEMPORARY visitors (ie foreign workers and students) with permanent residents to create the new narrative that immigration is hurting Canada. Foreign students spend billions of dollars boosting consumption. Temporary foreign workers are allowed in because small and medium business demand them. Canada is NOT poor or broken. We are right there in the middle of the pack, even in the coming decade. And we definitely can do better if we stop focusing on real estate and resources as our main economic drivers of growth. We are under investing on STEM sectors and we also don't do enough to protect from being snatched up by US PE/Hedge funds when these companies demonstrate success. We are just happy to become branch operations of US business. The US has been experiencing strong growth in the last three years, thanks to the massive fiscal spending (ie Inflation Reduction Act - $740 billions, CHIPS Act - $280 billion). The impact of those spending will end eventually. If Canada is spending billions to educate our youth, we should not make it easy, through free trade, for the Americans to poach these highly skilled to work in the US. Canada should be training workers for the US. Finally, the cost structure of the US is always going to be lower than Canada because the latter does not provide that level of social spending as we do. That is what make Canada different from the US. If the pursuit of wealth is all that matters, choose the US. If you want more in life, Canada provides immense opportunity. Canada seeks to bring everyone up, instead of just letting the fortunate few soak up the wealth and let the masses struggle to eke up a living. .

@Dermisc 4 ай бұрын

Our lack of ability to efficiently extract, refine and export natural resources is the primary reason for our deteriorating economy. Instead of hugging trees, we need to be building pipelines, refineries and transportation infrastructure. The answer to our environmental problems lies with process improvement, not process elimination. If the world needs more oil and minerals, it needs more oil and minerals. Block businesses from extracting those resources in Canada, and they'll just head elsewhere to satisfy that same inelastic demand.

@GriffinMilks 3 ай бұрын

Thanks for watching and commenting!

@jsurette7521 3 ай бұрын

We'd rather import materials from third world sources with questionable safety, environmental, human rights etc. records than utilize our own resources in a safe and controlled fashion.

@Samuels-nz9em 4 ай бұрын

This has happened before, we'll be back.

@GriffinMilks 4 ай бұрын

I hope so!!

@hexxlaxx2992 4 ай бұрын

Next election will determine our future

@Samuels-nz9em 4 ай бұрын

@@hexxlaxx2992 We need a fiscally responsible government come next elections

@Anthony-lk5dm 3 ай бұрын

And some people will still vote liberal 😂

@alexsdb9712 Ай бұрын

It's time for it to be "pay as you go style". If someone didn't vote Liberal/leftist, then they do not become affected by their ways. For example, supporting open borders and refugees, fine. But the Liberal voters must be the ones to open their homes and help set up shelter for those people, whoever they may be.

@edgrills6650 4 ай бұрын

easy access to social programs disourages productivity

@GriffinMilks 4 ай бұрын

I agree!

@funkspinna 4 ай бұрын

Capitalism creates. Socialism takes.

@KPICWorldwide 2 ай бұрын

Canada will have less productivety growth than both Italy and France, which have far superior climate and lifestyle factors. Retention of the immigrants Canada has relied so heavily upon will be difficult as the quality of life in other developing countries improves comparatively.

@anthony4571 3 ай бұрын

Griffin, I think you just attracted all those Canadians doomers with this one 😂

@GriffinMilks 3 ай бұрын

It's possible haha

@393boss 2 ай бұрын

I AM GOING BROKE PAYING MY BILLS AND I WORK IN THE TRADES

@brianlowe3529 Ай бұрын

When you are next door to USA what do you expect .

@michaelnovytskyi5825 4 ай бұрын

Trudeau. That’s why!

@GriffinMilks 3 ай бұрын

Thanks for watching

@coolbuddydude1 4 ай бұрын

Canada is like Russia but without the ressource extraction and technology

@GriffinMilks 4 ай бұрын

I mean, I still think we’re better off than Ruussia 😅

@abaldwin6059 4 ай бұрын

This is expected in a socialist country.

@GriffinMilks 4 ай бұрын

Becoming more so for sure

@gwarlow 4 ай бұрын

Wages have stagnated, housing prices have soared, and poverty has increased in the United States as well. Do you consider it to be a “socialist” country?

@dominiquetheeasyminimalist 4 ай бұрын

The US is creating more part time low paying jobs with no healthcare, education costs are skyrocketing, and they have the same housing issues. Their economy is growing, but the “average” American is getting poorer. In Canada people in general want the government to take care of everything, without paying the taxes. No free lunch.

@EliF-ge5bu 4 ай бұрын

Yeah, we do have housing issues but not at the same rate as Canada. Compared to Americans, Canadians are paying the equivalent of. New York City houses while they live in Pittsburgh.

@Tobzzzz_ 3 ай бұрын

We have carbon tax, fuel tax, income tax, provincial tax, harmonized tax, goods and services tax, property tax, tax, tax, tax😭😭😭😭

@UltraVega924 11 күн бұрын

This video is about Canada though 😂. See, this whataboutism is the problem with Canada and it has infuriated me since childhood. It reminds me of Matthew 7:3 which says, “Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye?”