The Economic Decline of Canada

[@visualeconomiken]

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[@jamesau4296]

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[@Vincent-j8u]

Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.

[@nicolasbenson009]

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[@tatianastarcic]

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[@JacobsErick-u8r]

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[@TheAshdan81]

In Canada, we like mediocrity. That’s why we would rather invest in real estate than tech? Why work hard when you can buy a house for it to grow in value just for living in it?

[@billygoatB]

That is the hallmark of socialism. Everyone is equal and the result is mediocrity.

[@nunyabidness3075]

What’s strange is homes are too expensive everywhere. Maybe less in places like Houston where building is easy to do, but it’s still expensive there as well. So while Canada has created problems for builders and developers and it’s very bad, why is it still bad in Houston?

[@jerrellholder8382]

​@@billygoatBthat's not socialism mate go read real socialism is just government doing the basic like keeping food healthcare and energy affordable not welfare and bring in 1 million immigrants every year

[@robertofernandez7773]

@@nunyabidness3075 not comparable. Houston is dirty cheap compared to Toronto and salaries are double, food is also half , so your comparison is oranges to apples. And it's not only in Toronto. All of Canada is extremely expensive, housing wise at least.

[@matthewhungerford1861]

@@nunyabidness3075 US housing is incredibly cheap compared to canada, everyone in the us is complaining about 400,000 to 700,000 dollar homes we Canadians have 1 million to 5 million an thats with the correct currency conversion and that's not even taking into account things like food and what we pay for gas that alot more expensive and lower pay.

[@eliasarches2575]

I lived in Canada from 2016-2024: each year the country got worse and worse. I set down roots in the country, got citizenship, worked, had a family, made many friends. But as life in the country, particularly housing, continued to deteriorate, we left for Australia this year. We couldn’t be happier for the decision, Canada is like a 3 star hotel charging 5 star prices. I do not recommend the country to anyone !

[@TheRoyL]

Well said. Lots of people are planning to do the same.

[@eliasarches2575]

@@TheRoyL I hate to say it as Canada should be the best country in the world. But government mismanagement over the years (on both sides of aisle) but especially in the last decade have messed up the country 😔

[@TheRoyL]

@@eliasarches2575 I know. Every time I meet someone here that thinks they are going to save up for a house or condo or have a nice retirement without a professional degree I wonder if to run the numbers for them. I don’t know how they will save to retire or beat the costs of rent. They won’t make the 200k+ it takes to buy anything with more than 1 bedroom. It seems like they have to live in the now or leave because unless a lot of things change their odds on even an ok life are low.

[@graham1034]

It's sad that Australia of all places has notably more affordable housing than Canada.

[@myheartbelong2oi]

​@graham1034 I mean even if they were economically identical Australia has better weather. The winter in Canada really adds a major damper on your life especially since it lasts so damn long.

[@Jeffery-f2e]

There is an equal market chance associated with each crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.

[@Johnson-m8v]

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[@Johnwestly-l6n]

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[@Fred-w7t]

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[@Johnwestly-l6n]

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[@Robinson-k2s]

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[@ChrisJohannsen]

I left Canada for Australia and it was a major upgrade in cost of living, wages and quality of life.

[@thomasgrabkowski8283]

Not to mention much better weather

[@ChrisJohannsen]

@@thomasgrabkowski8283 yep, 30c in the "cold" part in mid spring today

[@ruskip]

Which city is better for living with family in Australia?

[@ChrisJohannsen]

@@ruskip they're all good.

[@Kaif08610]

You forgot to mention the insane housing prices in Canada, why would someone risk their money on starting a business when they can't even afford a roof above their head?

[@SPAMMAN123456789]

your point is true about regular people. But I think misses the mark. Entrepreneurs are usually very wealthy people already. Not the small business owners at a local bakery or convenient store. The best business in town is our insane housing market. Precisely because of how much our housing has skyrocketed compared to basically any other developed nation. So if you want to make a good investment here. Get a second, or third property or a share holder at a new condo and rent it out. Its precisely cause of this that there has been more clamp downs of foreign owners of property. not saying there has been enough just that the problem you mention IS a rich business mans stable investment in Canada as opposed to actual business that drives economic output.

[@perfectlycontent64]

Or why invest in risky capital to increase productivity when you have a much lower risk investing in an asset that always goes up :)

[@koskos758]

That is because there is no land in Canada and there is no lumber /end sarcasm.

[@christopherreynolds1961]

Canadian Entrepreneur here. It's our banks. We only have 5 to choose from and none of them want to take a risk on a business startup. Private Equity and Venture Capital are basically non-existent. High taxes and regulations are strangling our economy to death. We live in a Democratic Communism here. The government has hired so many high salary redundant public sector workers, that as soon as we have a political party that preaches "small government" or cutting the public sector, the entire Public Sector votes en masse for the socialists that will guarantee their job, pension and wages. To pay for this Ponzi scheme they tax the hell out of the successful people in the economy to the point where they want to leave to the USA, where they will make more, get taxed less, and be able to buy a home for half of what it costs in an equivalent area in Canada. Canada will be bankrupt in a decade if this persists.

[@Peglegkickboxer]

There's also corruption with the big companies. The politicians preach globalism and post nationalism but when a foreign company comes in to build infrastructure and create competition they push nationalist narratives and won't let them compete (remember Verizon?). Airlines cannot fly between Canadian cities that aren't westjet or air Canada. Same with banking. Plus the government constantly cripples the natural resource sector. We keep deindustrializing but not replacing it with any innovation.

[@Pete-gs5ii]

100%

[@mosquitobight]

@@christopherreynolds1961 Even if Canada has more banks and trust companies they won't give loans to people who have no job, assets or credit rating.

[@tonycatman]

I have been involved in lots of start-ups, and lived in Canada, UK and NZ. Banks, generally, don't invest in startups. You need a VC or an angel investor.

[@gogob2008]

lol. That is nonsense. We've became way, way less socialistic then we've ever been. And as far as Private Equity and Venture Capital being non-existent... good! Those are just rot and corruption. We don't have federal housing regulations on rent, we decentralized government housing and healthcare departments, kicking more and more responsibility down to the provinces and privatizing it. Its crazy since 1980, we took the neoliberal 'free-market' approach. We privatized CN Rail, Air Canada and much of our major industries. joined free trade agreements etc. Literally everything that host of this video is saying is exactly what everyone who was responsible for the decline. He's preaching the same bullshit that got us into this mess His comment that after 2008 is when government restriction and regulations became increasingly pervasive is just flat out false. And the federal government taxes companies significantly less than other OECD countries with an effective tax rate of 15-18%.

[@pollutingpenguin2146]

When virtue signaling takes priority over everything else

[@calhounmackenzie]

‘xactly… sacrificing the welfare of canadians to look good globally. plus having policies to create more dependency on the state instead of the state focusing on creating policies to decentralize and give more power to the citizens…

[@tonycatman]

Basically - yes. There are truths that are unsayable if your primary goal is virtue-signalling. - Not all immigrants are equal. For example if you import muslims, then the women are less likely to work. With non-muslims, you get an almost 2-for-1 economic contribution. - Not all people are equal. We all rely on a very few gifted entrepreneurs to make us well off. We have to put up with the fact that they are going to earn vast sums of money, and the term "fair share" is childish. High taxes drive them away. - Not everyone or everything should be protected. Inefficient companies need to go out of business, and be forced to compete. - Not all jobs are worth doing. It is almost always the case that fewer government jobs works out better for the economy.

[@mbathroom1]

As a young 22 year old Canadian living through this, I unfortunately am considering moving to the US to get out of here

[@jjred233]

This might be the future for the youth of Canada.

[@abcdedfg8340]

Us will just work you into the hospital at age 65. Maybe we in canada need to demand work life balance as in practiced in germany and france that often have better productivity than the united states. Decent wages, 5 weeks off for even fast food workers, time to see family and friends, and reasonable living costs will all give people real strong reasons to be productive. But working 2 or 3 jobs as many americans or canadians do is not productive they just do a worse job at all 3 due to burnout. Just my opinion.

[@thecomment9489]

A better suggestion is that Canada should just declare itself an autonomous region of USA. For all practical purposes they are and just formal declaration of that needs to be made.

[@manofsan]

But what are your skills?

[@CANADAFIRST-4-TRUMP]

CANADA HAS LIMITED OPPORTUNITIES . PERIOD AND WE ARE UNDERPAID .75 CENTS ON A DOLLAR .

[@Blueberry954]

27 year old Canadian engineer here in Calgary, Alberta. EVERYTHING this guy says is true. Foreign investment is DOWN. Our regulatory system is highly uncertain. We’ve had almost half a trillion dollars of oil and gas investment disappear in the past 10 years. Nobody wants to come here and try and get their project built because the regulatory system is outrageous. Look up the northern gateway pipeline, British Columbian natural gas, the energy east pipeline, the list goes on and on!!!

[@AG-er5vmTG]

It’s also the mindset of Canadians. The only thing Canadians want to invest in is real estate. It’s basically our whole economy. We produce nothing, just speculate on real estate

[@davesiow3590]

This is not too dis-similar to Australia. Speculation and property investment has now collided with social problems of unaffordable housing for mainly young people. Australia does export, like Canada, minerals and agriculture. Tertiary education is also an export but this too is being clipped. But manufacturing has been virtually non-existent for a long time…

[@AK-hi7mg]

Canada still has a strong middle class manufacturing sector. Many special parts are build in canada . For example breaks for Harbour cranes . Also lumber is still big. I work in Germany and while we export large machinery to Canada, I come across canadian products quite often in my line of work.

[@slothsarecool]

Same as the UK and many other places

[@freedan48blackstar35]

I have lived here in Canada my whole life(40 yrs), sure the conservative government in the 2000s to mid-2010 did alright... but ever since our liberal government came in... let's just say they don't understand our economy and infrastructure can't handle the flood of immigrants that have been coming in under Trudeau. It's not even immigrants' fault... I feel sorry for them, and it feels like our government is lying to these poor people about the opportunities here at the moment.

[@ruskip]

Spot on

[@NorrthStar]

I’m in Edmonton and there are no jobs. Not even fast food. I’m leaving the country now back to Europe

[@boci11]

What country in Europe?

[@Tribuneoftheplebs]

9% unemployment with closer to 15% for migrants in Edmonton.

[@theracer6882]

If you are European why come to canada? Should have gone straight to usa 🇺🇸

[@NorrthStar]

@@theracer6882 no way into the USA

[@Justfrank_0]

@@NorrthStar why

[@egg174]

Trudeau has gotta go

[@IshmaelPrice]

Most of the issues are the fault of provincial governments, municipal governments, general economic trends worldwide, and the terrible culture of Canada where people would rather engineer a housing shortage than allow affordable housing. Trudeau has been mediocre, no worse, no better.

[@TheRoyL]

@@IshmaelPrice Theres a global trend that caused over taxation, over regulation and bad healthcare in Canada?

[@graham1034]

@@TheRoyL Healthcare is a provincial responsibility. And despite what this video states, taxation and regulation are largely unchanged over the past 20 years. The only area where they have increased is around environmental protection of resource extraction industries.

[@TheRoyL]

@@graham1034 this is simply false. Please just look it up. Don’t just say things someone might read it and think you are actually saying the truth.

[@guardianoffire8814]

​@@IshmaelPrice Trudeau's has damaged the Liberal party. A party that was once centre left to further left of political spectrum in line with National Democratic Party (NDP). If he stays as leader the other political parties will gain several seats in parliament at the cost to the Liberal party.

[@agodelianshock9422]

Most of the problem is the KIND of immigrants a country takes in. We aren't getting the doctors and engineers that were promised. We're getting Uber drivers and Subway sandwich makers. Making our minimum wage sector highly competitive isn't exactly conducive to a good economy. Add real estate woes inflamed by the immigration and nobody has space or time to hone their skills and invest in tools or equipment. All these new people aren't being trained up or finding their passion or integrating in any financial or cultural way.

[@margaretreefer1145]

Many of these people were doctors in engineers in their respective homelands. The Canadian government misleads immigrants by telling them that they need their skills and then once they are here they tell them that they need Canadian certification in order to work in their field. Canada is one giant Ponzi scheme where one generation pays the pensions of the previous one. Each immigrant is like an investor, paying taxes and having children that will eventually grow up to be taxpayers as well.

[@TheRoyL]

@@agodelianshock9422 the issue of real estate inflation is mainly cmhc. Also doctors and other high skilled workers who can practice in Canada are unlikely to look at the facts in this video and the think they want this plus high taxes, high cost of living and high regulations.

[@nico9teen]

Are you joking, doc and engineers are rhe knew who are driving Uber here. Do you know how difficult is it to start practice in Canada. BTW m a mechanical engineer myself and I quit and doing other business as my experience was not valid according to "canadian" standards. 😅

[@alimo3011]

I don’t think Canada has a shortage of doctors and engineers. So why would they import more doctors with questionable degrees?? Plus, immigrant have lil to do with the housing crisis. Law makers/politicians choke the supply through regulations to artificially inflate home and property prices. Rich Chinese investors and other wealthy individuals/investment firms buying properties in bulk ain’t helping either. It’s not mismanagement. It’s a deliberately plan. But I guess it’s just easier to blame legal(not speaking for the illegal ones) immigrants.

[@Tribuneoftheplebs]

​@@nico9teen of course its not valid coming from a country where your kinsmen can buy a passing grade and cheat.

[@milo-qh7cv]

canada looked good before due to creative book accounting, it was going down for more than 10 years already.

[@farramirrmendoza9192]

Oh wow, first time i see a video about Canada's downfall not getting blamed solely on immigration

[@brianbaraza5443]

Yess, finally

[@thegeneralist7527]

Immigration is the only thing keeping Canada running right now.

[@d16024]

agreed. Once this immigration wave is over, and things still sck, A LOT OF online Canucks will have the surprise pikachu face

[@aryaman05]

His comparing Canada to Spore on immigration is a joke, you won't find a single freeloading immigrant surviving for any length of time in there, much less one with attitude.

[@erge-px8up]

The rate of demographic change in Canada puts Canada at a higher population growth rate than African nations where they have like 6 kids each. The people living in Canada even compared to 10 years ago are a completely different batch of people. You can't ignore it.

[@alexandrecoallier7809]

Im canadian. Most of people who are on their 50´s tell young canadian to invest in the housing market not in the stock market this a waste of money according to them . With a mentality like that you can see why Canada is loosing ground. Also bring a lot of skill immigrants pay them a 100k a year take off 50% of taxes on their and charge them 1 millions dollars for a shitty house and guess why they don’t stay !Instead of focusing on innovation and automation no don’t worry get a bunch of low skill migrants paid them minimum wage and there you go you don’t need innovation.

[@quinnkay4409]

I find many of my fellow Canadians tend to resent businesses being profitable. This leads to calls for more regulation on businesses. After 9 years of increasing economic central control and its erosion of quality of life, many Canadians still call for more regulations and government interference not realizing they are embracing the very thing that has created this problem.

[@dev4statingx90]

Yes, it's called idiocracy, but hey, as long they can get their beer, weed, smokes and hockey they won't complain

[@bench3885]

guess this happens when you put a drama teacher in charge of the country and a news reporter in charge of finances .. and mandates unqualified personnels in important leadership roles based on feelings

[@collins1256]

OMG Freeland is so utterly incompetent

[@Metalblaze124]

Installed based on DEI

[@markharley6733]

I couldn't say it any better, you are bang-on! Did you know a bank teller has more credentials and experience than Chrystia Freeland our finance minister!

[@jasonpike3375]

My wife and I are both Canadian, and from 2016-present we saw the country turn into the worst version of itself in recent memory. We decided to leave and move the UK for a couple years and then plan on moving to the US permanently. I never had intentions of leaving Canada ever, but it’s not the Canada I used to know and love.

[@wongjefx980]

Canada’s problems are deeper than one leader, one party …the people, companies and parties at all level of government are only geared to be content with fighting over scraps and resting on past accomplishments.

[@ariangh815]

Very true.

[@briantetreault1875]

The major problem is that Canadian companies by in large are small firms. With 89% of companies having 20 or less employees and 74% of the total being 9 or less how can anyone have capital investments? Theres no room to add automation to increase productivity… there is zero upward mobility if you own a company in Canada. The likelihood that your company will grow beyond 100 employees is nearly 0%

[@abcdedfg8340]

Small is fine. Just give employees a good reason and ability to be productive. In europe even fast food workers get minimum 4 weeks off, often more, can live on one job, and have decent rights. They are about 30 percent more productive than us in many countries there and often more productive per hour than americans. Treating employees decently so they dont work into unproductive burnout and giving them work life balance to enjoy life really works. Even in canada we already have tech and finance companies which have 6 weeks paid vacation. Low turnover and higher productivity are the result. Just my opinion.

[@CP-dd8hk]

@@abcdedfg8340 Europe's economies are also in the shitter.

[@mosquitobight]

@@abcdedfg8340 Time off, benefits and living wages are a luxury for countries where the demand for labor is greater than supply, giving workers the bargaining power. Canada is in a labor oversupply situation and will remain so as long as the population grows faster than the economy.

[@kimdavies9460]

He missed that Canada's 10:19 10:19 greatest source of wealth, oil, is impeded in everyway by the current government. This affects investments and innovation in other industries.

[@thegeneralist7527]

I agree. You can't do anything in Canada without oil. Canada is VAST and COLD. You need cheap gas to do anything here, and expensive energy just means you can do less and get less. Carbon taxes are a tax on a tax on a tax and its getting so bad that people cannot live. A smaller country with a warmer climate looks very attractive.

[@NoNumbersAtTheEnding]

Canada's biggest source of wealth is not oil. Alberta's biggest source of wealth is oil. The province with the highest GDP is Ontario and it does not have much of an oil industry

[@heldercaze6333]

It's ok to regulate your own drug, like oil, but nothing will change if you continue addicted. (Vídeo summary).

[@SPAMMAN123456789]

until oil crashes, again, like it always does every 5 years or so.

[@Peglegkickboxer]

​@@NoNumbersAtTheEnding the petroleum industry alone in Canada is 8%, it's the largest sector of all despite the extreme regulation and lack of infrastructure. So yes, oil is the biggest cash cow in Canada.

[@amineaiffa]

The country is actually enormously wealthy in natural resources. However, the major problem is that there are so many parasitic people, special interest groups, environmental groups, endless paperwork and bureaucratic approvals you need to get through. Everyone has their hand out for their "cut" of the wealth. By the time you jump all these hurdles to develop the projects to extract and sell the natural resources you've literally wasted a decade and costs often balloon 2x to 10x the original cost. When a project gets announced, a student could begin 1st year university to become an engineer, graduate 4 years later, spend another 5 years as an EIT working at a company preparing to get licensed as a professional engineer and then do a masters degree and the project will finally get completed. It's absolutely embarrassing. Who would want to invest their hard earned capital in this horrid system? It will take this upcoming recession and misery before the Canadian people (who are 100% the reason for all these problems) to realize money doesn't grow on trees. I say Canadians are the problem because all you have to do is talk to one of them. Most just want to work for the government because they think wealth comes from Government spending. Any entrepreneur is considered a greedy capitalist that is a parasite when the reality is that is where the wealth is coming from.

[@Hamsteak]

My country has gone downhill ever since Tudeau has been in charge

[@piezoelectric627]

And what if is not Trudeau?

[@Hamsteak]

@@piezoelectric627 then it's the current liberal government

[@ChrisJohannsen]

@@Hamsteak nah it predates him. Going down since the 90s at least

[@SPAMMAN123456789]

if you actually watch the video, the declines started back as far as the 80s, and a lot in the late 2000s. Still WELL within harpers time in office. Im not saying trudeau is free of blame. But the Conservatives dont have a plank of wood to stand on when it comes to these particular issues either

[@Hamsteak]

@ChrisJohannsen ya and that started with the Liberal Chrietien government and Canada almost going bankrupt.

[@john_doe_not_found]

Canadian Bureaucracy is soul sucking. Nothing can be built anywhere that doesn't take 10 years of environmental assessments, archeological digs, sampling, species impacts, native land claims, and etc. And when you get all those approvals from the Federal Government, you must then get the Provincial equivalent approvals. And when you get all those done, you must make sure you pass all the Municipal Government approvals. Even slam dunk money makers like oil pipelines and power transmission lines and fiber optic cables are almost impossible to build. The entire system is dysfunctional and needs to be cleaned out. Fire everyone. The Bureaucrats have such bad work ethic, jobs that ought to take an hour end up taking 6 months.

[@codyslevin3513]

I moved from Vancouver Canada to Chicago USA. The biggest shocks are how free the states is, and how cheap everything is here

[@paulheny]

Buying Stocks or Gold are the absolute best hedges against hyperinflation.

[@Dylanchris8048]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@paulheny]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@Dylanchris8048]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash

[@Debbiemandy9]

Market fluctuations have frustrated my previous attempts at stock investing. Ready to pivot to passive income, I'd love to learn from your journey. Share your expertise and guidance, and help me overcome my past setbacks to achieve financial stability and success

[@paulheny]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@tigerphid9677]

The bureaucrats create and protect more bureaucrats. History has shown this to be true.

[@sethferri]

On a paycheck that includes 6 hours of OT, comes to $1,770. After tax, I receive $1,240. That $540 taken off is absurd to me, or 30% of my labour. Overtime is pointless.

[@dnapolren]

And lottery is not taxed!

[@sethferri]

@@dnapolren Lottery is taxed during tax season, you file your winnings as income tax, so it technically is.

[@ac1455]

Not going to talk about the housing crisis more? It’s part of the over regulation thing, but it deserves a lot more attention. High housing prices means an unstable market bubble that means Canada can’t easily take any drastic steps to do much without risk of somehow popping the bubble, and if houses are too expensive it drives people with the means like the skilled professionals it wants to attract to move down south, and if people are spending all their income on housing, then there’s not much left to spend on consumables to drive production and investment in high value sectors that aren’t real estate.

[@billygoatB]

With all that room and all that timber and other raw materials, you would think housing in Canada would be very reasonably priced, if not cheap.

[@98Enzio]

Living in Montreal since my mother immigrated with me in 2005. Up until 2017, a lot used to be very good and affordable, but around 2015, things started to change as real estate became the de facto king of all investments in Canada and Montreal saw a boom of new construction. Alongside those, rents and the price of everything started to increase, with foreign buyers being the target, loads of Chinese investors came pouring in money, leaving locals without the power to purchase homes at affordable prices. The pandemic was the final straw that broke the camel's back, the subsequent inflation spike following it made anyone making even 75 000$ in Montreal - a very good salary might I say, feeling poor as prices skyrocketed. Since then, countless friends of ours sold everything and moved back to Romania as the tables switched between both countries. I won't even mention the rise in crimes as cars are stolen by then dozen if not hundreds a day in Montreal, you can't have a nice bike as it'll get stolen and services such as police have continuously degraded. Anyways, all this to say that Canada isn't what it once was, and while it still offers a mediocre living and peace and quiet for those looking for it, it doesn't offer wealth beyond paycheck to paycheck living for the vast majority.

[@drewf5885]

I lived in San Francisco for many years back in the 90's and early 2000's. I am from Montreal originally and am now in Toronto I say the country suffers from embarrassingly bad governance. In Toronto there is municipal leadership from one party, provincial leadership from another, and federal from another - NDP. Conservative, Liberal. They are all awful. Economic policies, immigration policies, innovation policies, social policies are all counter-productive and Canada is in the worst condition i've ever seen it in. It's too bad, it used to be a great place :(

[@marcussver620]

That's what it happens when hou focus on bringing indíans and chinése students instead of fixing the housing crisis and economic crisis.

[@MarktYertd]

exactly what I thought.

[@michaelmayhem350]

But they don't need houses you can just stack them on top of each other 😂😂

[@jzed992]

Agreed. We need immigrants (legal) but we also need ti match with housing ang businesses -- and for crying out loud, there are non-indian people that can immigrate here

[@parthmishra2041]

Indian and Chinese Students are a big part of cash inflows to canada they pay billions each year to canada, that's why I think the government is focusing on such business

[@IshmaelPrice]

Accepting foreign students is completely beneficial for the economy. They pay tuition and employ people, they buy things while living here, and many work here after graduation. It's simply a beneficial industry. Somehow you have managed to bring that in (I wonder why) when the main issue is simply Canada's hostility towards affordable housing. The lack of housing has indeed hurt the economy in many ways, and one of those is reducing the ability to accept foreign students because they had to put limits on it.

[@jwbeaton]

Canadian business owner here. Ouch. The data isn't lying. There are some factors not mentioned - the whole economy has had Dutch Disease for decades now, especially with the declines in manufacturing mentioned - the CAD$ is less controlled by policy and more by and more by global oil prices. Many sectors are pushing for more immigrant and foreign workers due to labour shortages, the shortages are there because cost of living is through the roof. Personal debt loads keep hitting new records, which is scary and setting the country up for massive collapse. We seem to be a distopian mix of free-market and government regs in all the wrong places. We keep half-joking that we will move to Europe or USA. I love the better balance of regs/ free market in Europe and the much friendlier enviro for entrepreneurs in the USA (and easier access to funds).

[@matthewhungerford1861]

well i have a friend who wanted to expand his production in canada and he had to wait months to get a the permits to expand and get a call back from the local authorities, he tried the same thing in the US he got the permit within a week and a call back from the local authorities to sort things out. he now only invests in US as no one in canada the population and government don't understand that time is money

[@justin333eb]

I can’t believe Forbidden Laws of Wealth by Victor Hayes is so underrated. The methods in this book are on a whole different level-it really needs more recognition!

[@MikeW-t6l]

I got it, truly a good book

[@FireOElijahMC]

I heard about that

[@stischer47]

I had always thought of Canada as "US-Lite"...all the good but not the bad. However, my delusion was shattered when I visited friends in Toronto last year. First mistake? Flying Air Canada. Late and shabby. Toronto? Couldn't get my phone's texting to work, no one answered the hotline of the BnB I had rented after I arrived and could not find the place (off a side street with no house numbers). Even the Hilton that I ended up staying in had construction going on with no signs directing you to the lobby until you got to it. I couldn't wait to leave, and my friends (both in IT) are trying their best to move to the US.

[@quietus13]

Everyone loves to bash the US but I travel all over and I don't understand all the hate. The US is tough if you're unskilled or uneducated, but although it's easier in other places it comes at a cost and it's never easy. But anyone I know with skills or useful education have been able to build good lives in the US.

[@Campaigner82]

4:00 You need to understand the KIND of immigrants different countries get…..

[@JvmCassandra]

Most people think Canada’s problems can be solved with changing a prime minister. It is way worse than that. Ask yourself does Canada have a free market? Telecom, banking, insurance, energy, retail, does Canada have any competition? Does Canada have a tax system that incentivizes people work more? Does Canada have any industries? Does Canada refine her own petroleum? Is Canada an independent country? Does Canada get to make her own policies? Does Canada have a fiscal responsible budget?

[@k.dickie8972]

Great video, well researched and apolitical as you point to many of our ills rising from governments from both sides of the isle. Yes, I'm Canadian, born and raised in the 60's. Exasperated, as I watch our country cycle the drain both economically and morally. Here's hoping your video reaches some others who need to wake up to Canada's potential and elect a political party that will shrink our bureaucracy, re-invigorate our economy, and return Canada to some of it's former glory.

[@barry4988]

The problem: 2 000 000 Punjabi Sikhs 👳🏾‍♂️👳🏽‍♂️👳🏻‍♂️ on welfare 💸💸💸

[@coolpiraterapstar]

The Canadian government has always been scared of outside investment. It’s why our air flights and cell phone bills are higher than most nations

[@mike5587]

Progressive politics are expensive and, oddly enough, regressive. It's a race to mediocrity up here in the great white north.

[@viragoshantz6890]

I am a Canadian I live in Southwestern Ontario, the heart in manufacturing heart. We never recovered from the 2008 American recession the Americans wanted to bring back their jobs and companies. We never really replaced them to keep what we had. We had to offer cheaper wages to employees it makes it hard to attract good workers. We have a lot of companies that are very bureaucratically top-heavy which makes it difficult to offer good wages to the workers that work on the operational side of business. If you pay peanuts and wages you’ll get nothing but monkeys.

[@beautanner8409]

I've heard it put this way about Canada: "If you don't have to worry about housing costs... everything is great!" For the rest of us it's a nightmare.

[@ChrisJohannsen]

Nah it's not great even if you can afford the absurd costs. Horrible weather and culture, medical system falling apart.

[@jonsino4357]

Property rich, cash poor = cdn citizen

[@hughjass1044]

Yeah, but..... Diversity is our strength, don't ya know?

[@TheRoyL]

Diversity is a strength the issues are at government level expats can’t fix that.

[@mr.uthamaputhiran9790]

Hey, I watched the video but lemme just sit on my hands and blame immigrants, its fairly easy than fixing productivity or govt policies.

[@hughjass1044]

@@mr.uthamaputhiran9790 Who's blaming immigrants?

[@bobSeigar]

​@@mr.uthamaputhiran9790 Ok Mr PDF File. Aisha was 9, go snip your Aorta.

[@suliwa670]

Diversity eh?

[@Khneefer]

Who could predict that when you import mostly under average productivity people stats per capita go down?

[@TheRoyL]

@@Khneefer wow your argument is not voting foreigners caused the government to be wasteful with funds, over regulate and over tax while having some of the worst healthcare most people either experience or just wait for until they get annoyed enough to go fly somewhere else just to get it. It would be interesting to see how people are doing this without being able to vote.

[@yakovdan]

Citation needed.

[@mr.uthamaputhiran9790]

People are not born with a productivity metric. As the video states, productivity is based on the investment by businesses in R&D. They don't do that because less reward vs high risk. The moment you try to earn more in Canada, you get taxed to oblivion so people are intentionally demotivated to remain average here or move to US to get more buck for their talent.

[@romankacin8365]

Nothing to do with immigrants. In fact, immigration acts as an economic stimulus in most normal counties and this video shows a graph to suport this.

[@Khneefer]

@@mr.uthamaputhiran9790 IQ is best single predictor of someones productivity and it is 75% hereditarable. Video showed why economic growth slow down, not why gdp per capita goes down. If your populations go up by 2% and your GDP go up by 1% then GDP per capita goes down by 1%.

[@hypocriticalsmile]

Emigrated to Canada in 2020 and in 2023 left to US. Mostly because of costs of living and especially housing - they are just insane. In US my salary is 50% higher, taxes are lower and expenses roughly the same.

[@DingleberryPie]

They reap what they sow.

[@antsalberta7526]

I have moved out of Canada to Mexico City with my Mexican husband. I feel so much more opportunity here and it feels like I could even setup a business or something. In Canada that simply felt like a pipe dream, you need the perfect business idea, the perfect paperwork, the perfect credit score, the perfect circumstance, and finally you also need a good lawyer simply to get it setup. I apply for 5000 jobs in Canada under my field, get 1 callback. I apply for 10 Mexican companies, wow I get 10 callbacks. So weird!

[@vs92384]

Canada is a 2nd rate country. Cannot compete with USA. But is a very nice ally/neighbor.

[@richardmurphy9006]

Spent 20 years in Canada if you don't come with money don't bother it's hopeless

[@Tanjman_]

Singapore and Hong Kong are also much harsher on crime. In Canada, it’s open season. Criminals walk the streets, nobody get caught, and if they do, they get released to “please show up for your court date later”. This has a direct impact on the economy

[@lc5176]

Sounds remarkably like the UK, except the good bits about recovering from the 2008 crash.

[@Lando-kx6so]

UK's in a better position with more opportunities, a larger market, a currency that's worth a lot more, is easier to do business, & has more real growth than Canada

[@lc5176]

@@Lando-kx6so - Opportunities: Totally subjective. As a software eng, the UK has become a desert. CA is also bad, but less bad than UK. - Larger market: Since leaving the EU that's not true. Remember Canada is part of NAFTA. - Stronger currency: That's a moot point by itself. How is it supposed to help the average person? If we _didn't_ have a strong currency, would that mean things are even worse in the UK?! - GDP Growth per capita: They are virtually the same. The only thing that is objectively true there is ease of doing business.

[@erge-px8up]

I got dual citizenship and will likely move to the UK for a bit once I'm done with uni. The UK negativity is overblown. The UK is bargain for everything compared to Canada, better wages, cheaper cost of living, cheaper housing (yes, including London), more oppotunities. Not trying to say the UK is in a good position, but Canada is something else. Canada is only good for NAFTA making it easier to move to an actual good country (USA)

[@lc5176]

@@erge-px8up Again, opportunities are highly subjective. Lower skilled stuff like delivery driver, retail jobs, are much easier to get in the UK, but skilled jobs are highly dependent on industry. And as for housing, according to stats, while the average UK house is slightly cheaper than in Canada, it's not true for London vs Toronto. Average house price in Toronto is $1.08M, average in London is £700k ($1.25M). But there's a big point you are missing about Canada vs UK houses. The average size of a UK home is 76 square meters, vs 181 in Canada. British homes are notoriously small, with detached homes fetching a premium due to scarcity. Canadian homes are 2.4x the size. Quite a shocking statistic. Sure, the tiny houses mean our towns and cities are more walkable, but at the cost of living in a box. Since you are considering moving to the UK, make sure you understand council tax. It's our equivalent to peoperty tax, but the difference is, it's paid for by the tenant, not the landlord. So when you go on comparison sites for rent... make sure you add on an extra ~£180/month, shared between all members of the household, with soul occupants getting a 25% discount. Utilities are also twice the price here, and are never included in the rent. Far cheaper phone, internet and groceries cancels out the utilities difference though.

[@ryandanngetich2524]

@@lc5176 I disagree, the UK with London esp has more opportunities than Canada, no debate. The currency makes importing much easier than Canada plus the UK is in a more centrally located position in the world leveraging on a lot more. So no, I believe you are full of bias

[@cabl3guy2012]

I've disagreed on many things you folks have put out here, but you did a good job on this one.

[@APs_Rosary]

Too much immigration. Toronto is Mumbai, Vancouver is Shanghai

[@anthonypatterson1074]

I am a American we will not let Canada fall into despair they are closest Ally. The same goes for Mexico.🇨🇦🇺🇸🇲🇽

[@jpl9148]

We`ll see

[@chunkycornbread4773]

Well that's noble of you but you can't do anything about who they elect and what economy policies they enact.

[@calm123]

America is falling into despair and bringing along all its allies and slave nations to fall with it USD dollar is done

[@anthonypatterson1074]

@@chunkycornbread4773 of course you're right. We're trying to Donald Trump from becoming president again.

[@guardianoffire8814]

In the United States, the two major parties hold differing views on various alliances. However, both Democrats and Republicans consider Israel to be their closest ally and the only nation for which the United States will engage in nuclear conflict to defend. Other allies, such as those in Europe, Canada, and the Philippines, Japan, South Korea, and others, are regarded as expendable by those with political influence. Mexico views the United States primarily as a trade partner, and the current Mexican administration seeks to reduce Mexico's economic reliance on the United States for trade.

[@OpTiCNoobtube]

Canada believes it is special in every way & better - thus, why ever improve? I bring up criticisms and Canadians will defend the shit no matter how shit it is. Ex: Doctor who studied in the UK/ireland/australia/NZ? Well prepare to take a buttload of pointless stupid exams and potentially live in the sticks and work 26+ hour shifts. It’s ridiculous

[@ON-YT]

The biggest problem in this country just comes down to zoning rules, if we fix that it will fix 80% of our problems. So happy that BC gov has been blazing through zoning reform but sad that it’s taken a generational economic crisis for everyone to wake up.

[@amazingkid98]

Canada is too focused on keeping the government officials own companies and friends companies stay rich over Canadian pension, gdp and Canadian citizens cost to own anything. Carbon tax will shy many companies away from Canada The cost to get anything done here is stupid

[@lornecadeau8172]

Why would you go the extra mile when the Canadian government is going to take it

[@jaredvaughan1665]

Canada looks wide open. But rich farmland surrounds Toronto and mountains surround Hong Couver. The 2 places most want to go to.

[@jpl9148]

“Look how they massacred my boy.”

[@alnbyg]

Bros decided (just like in Australia now) that they would rather flip real estate than innovate & once letting in professionals through a rigorous points system they make it impossible to work asking for the infamous Canadian experience, which the British or Americans don't ask for, folks end up wasting potential doing ride hailing & other dead end jobs

[@johndefalque5061]

There is some truth to this-I have worked in factories with 75 yr old equipment, spot welders that leave bullet holes in all your work. I t can be frustrating. Britain is in the shit for a different reason-lack of regulation, Liz Truss gave 43 giant tax catus for the rich in her brief term. I would not call Britain under 14 yrs of Tory rule anything to emulate.

[@JoeBisk]

I left Canada and moved to the United States the month after I finished graduate school, because Canada has a culture that demonizes financial success. I am really glad I did that and I think things in Canada got much worse since I left.

[@kyleg7227]

It’s kinda funny, the government has the highest level of regulation for everything except excessive home ownership. The number of foreign owners of land and houses sitting empty is insane. A lot of the excessive regulations to protect the environment can be justified, we have some of the best land on earth. The housing sector is under regulated. If you don’t live here 100% of the time and buy and participate in the economy. You shouldn’t be allowed to park your wealth in a condo or a rental property at the expense of those who do. This bloodsucking attitude of foreign landlords should be recognized in this video.

[@TheRoyL]

Can you look up the percentage of foreign ownership and corporate ownership? (only because corporate ownership is likely where I think your point will run to) then you can apologize.

[@jl3059]

Canada is a land of monopolies.

[@Scribemo]

Oligopolies: Telecom, groceries, banks.

[@TheTruth-cg8vj]

I'm Canadian. Canada is a joke as a first world country. Just about any other country gives its people a better life. Imagine being a nurse, accountant or engineer - and living in your car. That's Canada.

[@ryandanngetich2524]

I Know its in shambles but you never know what you have till you leave

[@Sam-j6l9x]

My company has zero work and my friends are also slow including one who works for a courier service. Trudeau has destroyed our ability to survive this downturn.

[@AB_123_AB]

Canada shunned Chinese investments and trade,at the behest of the US. That is its downfall.

[@PressXtoDoubt]

Oh my and here was me being told that all those immigrants would be such a boon to our economy with all the culture and innovation.

[@TheRoyL]

The issue is the people voting for the politicians that increased the taxes and regulations. Canada didn’t run out of space it destroyed productivity. Hard working educated expats can’t vote so they can’t fix the real issues.

[@IloveTide1997]

But without immigrants, who would deliver our DoorDash?!🙁

[@PressXtoDoubt]

@@IloveTide1997 Think about the Tim Hortons !

[@Hanszegler35346]

My doctor was trained in Canada then moved here for the money and technology

[@ChrisJohannsen]

Saying where "here" is would help

[@Hanszegler35346]

@@ChrisJohannsen sorry. He’s at the Cleveland Clinic

[@TheCaptainLulz]

This garbage is what happens when the finance minister was a journalist before. Our government has got to go, and our soviet level bureaucracy with it.

[@zackfitz1033]

52 videos and 8 months ago you said the Canadian government was one of the most stable economies out there, this video should have and could have been made sooner if you guys had simply talked to anyone in Canada that worked in the economy. Not only that but the graph shown at 5:40 directly links to Steven Harper's term as prime minister showing that it is very much linked to the government, at the end you say that the American economy pushes many to move from Canada to the us, the Canadian government very much has a responsibility to create more opportunity in Canada to influence people to come here, I feel there is more to this situation then was shown in the video and more could have been talked about includeing what the goverment should do moveing forwards.

[@daniellarson3068]

I live on the border. I heard it is hard for a US citizen to work in Canada. Yet, I've worked with quite a number of Canadians in the US.

[@mahtabsoin7239]

and yet you'll never hear this from the PM or FM. Acceptance is the first step on the road to recovery. Canada needs a leadership change. And it needed it 8 years ago.

[@Ben_D]

It's disingenuous to state that the Conservatives are any better. They're on the opposite side of the same coin.

[@mahtabsoin7239]

​@@Ben_D At this point, we can both agree that change is much desperately needed. I believe Canada's problems are easily fixable. You don't have to be an idealogue or even a visionary to see that. Respectfully, it is highly irresponsible for any patriotic Canadian to even consider voting for the liberals at this point.

[@mdashrafulmalek7043]

A bit surprised you didn't mention the RE Landscape of Canada

[@Naturenerd1000]

Not even Canadians want to make a small business in their country because it gets taxed 50%.

[@matthewpeloso2172]

Corporate tax isn't 50%, it's fairly competitive at 20%. Income taxes are quite high.

[@ishkanark6725]

​@@matthewpeloso2172 Capital gains tax is 50%

[@m.a.farrokhzad1962]

​@@matthewpeloso2172yes but when you want to pay yourself a salary from your business income, you get taxed like income tax

[@phoenixrising4995]

@@ishkanark6725 Wrong again its now 66% inclusion rate if the capital gain is over 250K.

[@maloueddy4499]

And it just adds to the wokist dictatorship of the country (on this topic I advise you the Telegraph documentary on Canada)

[@jamesholt5963]

Canada is Commodities. Growing grains. Mining. Oil. In an Environment that is Regulated. But, hopefully, with all those eyes looking at everything, there is less Corruption? I would not write Canada off just yet.

[@Rakaamlil]

From Canada here, we have one of the largest governments per capita, something like 40%, it's less like a country and more like an oligopoly

[@jonsino4357]

More staff in the cra then in the cdn military

[@Rakaamlil]

@@jonsino4357 yup and CRA people all stole cerb

[@quantummotion]

Some points...the example of the dairy industry is not a good one, because that industry was heavily regulated even when Canada was neck-in-neck with the US in productivity. Same with interprovincial trade barriers. These are DECADES old problems - nothing new. The biggest drag in Canada is the loss of disposable income due to high housing costs, increasing fuel costs through carbon taxes, and a foolish FIT program of Solar and Wind in the country's industrial heartland, Ontario. For Canada to climb out of this, the following needs to be done, lower immigration levels and force international students to be on-campus housing only to reduce the housing stock pressure and stabilize housing prices in the general housing market. Second, education needs to undergo a major shift - focused funding for trades, and training for skilled labour, and fixed numbers of scholar positions that get funding in universities. This will push people to practical job skills and decrease crushing student debt (indeed stop student loan programs and just fully fund the training for jobs we need). Canada needs to build a multimodal economic corridor of roads, rail, pipeline, at higher latitudes with port facilities at either coast to insure the landlocked provinces can get product out for export. The province of Ontario needs to turn the corner on the solar/wind power FIT program. Contracts paid exorbitant prices to solar/wind investors making electricity too expensive for everyone. Ontario stopped expansion of the program, now pays the contracts via general tax revenue ( which raises taxes). Once the contracts are done, that liability can be squared away. The carbon tax adds to inflation and makes energy expensive. It needs to be eliminated (or lowered) and the collected monies used to fund nuclear power projects to bring cheap electricity far and wide in both urban, and rural settings lowering costs to households and industry. When people have more in their pocket, they can spend more on training, education, try their hand at starting a business, invest in tech, and more.

[@suzygarry6251]

I hear this every 5 years since I came to Canada in 1984

[@CluelessEngineer]

really? people have always been saying this? that canada will decline?

[@dnapolren]

As an economic migrant and now a citizen, took a step back to my country in 2024. It's hell.

[@Bittersweet721]

2 options Get paid to not work or get taxed teat high when you do.

[@Themohr]

As many others are commenting, your analysis misses the addiction to real estate investment. This is a social, cultural, and economic issue, and it's where our money goes rather than putting into productive assets. Since there's been massive mismanagement of the Canadian Pension Fund, and since we have an aging population, governments artificially prop up values and prevent market corrections on housing asset prices. This is a vicious circle of protecting the elderly at the expense of the young.

[@joshuamarshall1718]

Born and raised Canadian, once i get established here in my career im looking at moving to America. I don't particularly see a future here, the country is a socialist nightmare and the people support it way too much.

[@informationcollectionpost3257]

Following the general Canadian trends of totally free healthcare, college that is pretty much paid for by the government, and sky high taxes; the Canadian public will not want to give up these benefits. To support these benefits the Canadian government will have to tax the living daylights out of the working population. It could drastically increase the export of its resources and implement an export tax to pay for all these government provided services but that is just another way of kicking the can down the road. Sooner or later the resources will be depleted.

[@Zizook]

Canada might be heading for deflation pretty soon, 1.6% for September currently.

[@blckviking]

Main issue is we have governments utterly incompetent. This is the government that previous immigration minister said that he didn't think that inviting oer millions ppl will cause housing issue. Then that minister went to become housing minister. Current government from top to bottom are living in a dream world and completely detached from actual reality. I can tell you this country will be well worse than UK situation in a few years. But again blame should goes to people too, cuz they are the people voting!!

[@RyanBanman]

This country really really sucks. I own a business and its horrible. Government wants to not only milk small busienss, but skin us. The stress, crappy entitled work ethic of employees, low return, high taxes, are not enjoyable to deal with. After 8 years, im actively trying to postiin my business just a little bit more to at least gain something from its sale hopefully within a yesr or two. Im done

[@mcviper270]

The 3 P's of economic growth are Productivity, Participation & Population. It's clear Canada is primarily focused on population. More people in theory means more consumers to drive business growth & more taxpayers to pay for welfare programs. However, if you've deindustrialised where the jobs available for new migrants are low skill, food delivery jobs then they won't be earning much thus not spending much or paying much tax. Which amounts to destroying their country in order to get a pizza delivered in less than 30 minutes.

[@drscopeify]

Canada can easily invest more in to Tourism and like Scandinavia offers to Europe, Canada can bring in American tourists for winter sports and skiing, one of the issues is the infrastructure needs to improve, Canada is paying for new bridges and access across the US-Canada border but there is need for more, which should help the Canadian economy. Canada also needs to establish a Northern version of Las Vegas or Florida, free up vast lands for new entertainment areas, Casinos, Amusement parks that are designed around winter activities and just open up Canada to more to entertainment and tourism. In the US tourism is only 5% of GDP so there is less overall investment which Canada can capitalize on that weakness.

[@graham1034]

I'd be interested to see the methodology on the "over regulation" analysis. The main areas of investment regulation that have increased in Canada over the past 10-20 years are around resource extraction, specifically environmental regulations. Rolling those back and pumping more oil+gas, strip mining, etc may pad the GDP figures but they aren't a good long term strategy. I agree that productivity is THE problem with Canada's economy and this is largely caused by a lack of investment. But the primary issues are not regulations and taxes. Other factors like the wildly inflated property market sucking up so much capital and the lack of government support for non-resource industries are causing much more harm. The residential construction industry has significantly outsized role in the Canadian economy. While everyone needs a home, this doesn't add much, if anything, to productivity.

[@SimersTO]

Very hard to find employment

[@nico9teen]

I think he missed the major point of oligopoly. The big 4 in banks and communications or thier omnipresence in every imaginable sector.