New India economics update

There has been a lot of talk lately about Canada’s dismal growth, but now a new report warns that we could be stuck in it for another two decades. The study from Canadian financial firm Omnigence warns that Canada is headed for a “protracted bout of stagflation” in which the country will continue to suffer low growth and higher inflation.

Obviously, Canada needs to import a few billion immigrants RIGHT NOW!

Canada is expected to have the lowest real growth rate among countries in the Organisation for Economic Co-operation and Development over the next three years, but that doesn’t take into account its rapid rise in population, says the report.

When you look at GDP per capita — “the only metric that matters in the real world” — Johnston argues that Canada has been experiencing “early onset” stagflation for almost a decade. After years of rising steadily, that metric has been flat in U.S. dollar terms since 2013.

Yeah, that's what happens when the political elite imports millions of people with their billions of dollars to prop up the housing market. We get positive! GDP growth but the average Canadian suffers a significant decline in living standards.

Canada has the highest share of investment in housing in the OECD, making it overly reliant on real estate for GDP growth.

“Simply put, Canadians spend far too much on housing, use excessive amounts of leverage to do so, at prices that are far beyond any reasonable interpretation of affordability,” said Johnston.