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.


Save yourself from DIE-versity!

One of the ironic consequences of diversity hires in the medical field will be the spectacular incomes of White and Asian doctors with degrees from American institutions. All the wealthy people in the world know that these are the top-notch professionals in their fields. They will make millions because of global high demand.

It will be so funny when affluent lords in Africa reject all the black doctors in America and specifically fly over White doctors for their treatments!


1 in 4 going to the food bank

Quite a few food banks in Ontario have banned international students because they abused the system. Worse, some students posted videos about the "free food" they got. Two of them, a few weeks later, uploaded a video about their brand new, shiny car! Shameless and honorless. If Canada was ruled by serious people, then these students would have been deported for fraud.


Don't come to Canada

Many shady employers pay cash to employees. The minimum wage is $16.55. So, the workers get around $10/hr. All illegal, of course. However, it's going to be tough to beat this one:

A new job posting for a role at a Toronto Shoppers Drug Mart location is causing a stir this week due to the fact that it boldly seeks a worker to perform what many feel should be paid duties, but for free.

Loblaws, which owns Shoppers Drug Mart, made a profit of $2 billion last year. Millions of imported workers that suppressed wages for years just wasn't enough. Now, they want foreign slaves to work for $0.

"I receive alot of emails and LinkedIn messages asking for volunteer opportunities, but I don't respond. However, I saw that volunteer is an option on LinkedIn when you post for a job, and I just wanted to try it to see if I can help anyone gain Canadian experience (as other kinds of jobs do usually) knowing that I have full staff now," he says.

How convenient. Of course, he would never ever trim his paid workers for those lovely Paid-In-Experience slaves volunteers.


Auto go bye bye

Canada's record breaking transformation:

Auto theft insurance claims for replacing stolen vehicles in Canada skyrocketed to a record-breaking $1.5 billion last year, according to latest data from the Insurance Bureau of Canada (IBC).

The industry association says 2023 marks the second year where costs topped $1 billion, averaging $556 million annually between 2018 and 2021. Last year’s increase represents a 20 per cent jump from 2022, which previously held the record. [...]

Canada’s most populous province has been hit the hardest, according to IBC. Ontario auto theft claim costs climbed by 524 per cent between 2018 and 2023.

It would be interesting to overlay the graph of higher auto theft claims with the one regarding increased immigration into Canada. The correlation would be quite something.

“In many cases, stolen vehicles are exported to these markets by domestic and international criminal organizations,” the report stated. “The proceeds are then used to finance drug trafficking, arms dealing and international terrorism.”


UK, Canada, Australia, New Zealand, ...

Absolutely shocking news from the UK:

High levels of immigration have failed to enhance the economy and have worsened the housing crisis in the UK, according to a new report from the Centre for Policy Studies (CPS). [...]

"Large-scale migration has not delivered the economic benefits its defenders argue it should – with the era of mass migration coinciding with a significant slowdown in GDP per capita growth," former Conservative minister and co-author of the report, MP Neil O’Brien, said.

And he stressed, "It has also put significant strain on public services and infrastructure: migrants may bring skills with them but they cannot bring additional roads, school places, or GP surgeries. Unprecedented levels of migration have put upward pressure on rents and house prices."

It's the same insidious policies across most of the West. Import millions to drive down middle class wages while the real estate market spikes which shuts out the younger generations from owning a basic home. Couples have to work full-time jobs just to pay their rent. Add in the inflation over the past four years, and they can't even save for a down payment.

Meanwhile, certain immigrants have no qualms about lying. They provide fake income documents to the bank, get a giant mortgage, and then illegally rent out the house to over a dozen new immigrants. Viola! They've got cash flow to pay the mortgage. After a few years, they pull the same stunt and get a second house and so on.

I heard a story about a friend of a co-worker who had to wait for over a year to see a dermatologist. She could have had cancer but she couldn't know for sure for more than twelve months. And this was in 2010. In the meantime, Prime Minister Zoolander of Canada has imported over five million high-skilled scholars into the country. Their talents are being utilized by Tim Hortons, McDonald's, Burger King, Wal-Mart, Uber, ...


The real estate mirage

Yeah, the math just doesn't work in major cities. Here's an extreme example:

As I've written before. Let's see some numbers about the house that my retired barber bought and compare that to the reality of today.

  • Time: Early 70s.
  • Profession: Barber (with stay at home wife)
  • Annual income: $20,000
  • Loans: From dad and friends
  • Price of house: $55,000
  • Loans paid off in 3 years!

An example in the news from last year:

  • Annual income of professional couple: $200,000
  • Looking at house near Toronto
  • Price of house: ~$1.2 million
  • Bank refuses loan!

So, a barber working alone could afford to buy an average house fifty years ago in Canada. Today, an educated, credentialed, and hard working couple working full time while making 10 times the income of that barber can't even get a mortgage! And note this is comparing the same Greater Toronto Area of Canada.

I would bet a $1,000 that the barber could sell his house for an easy $1.5 million in the red-hot real estate market now.


Bend over or get out!

The wealthy will quietly shift their capital out while the middle will get squeezed hard.

I'm sure Harvard will be paying more, right?


Traitors in charge

Vox Day:

The idea that immigration “is good for the economy” is based on a false assumption and an incomplete equation. Moving every single person from China would “increase US GDP” too, but it most certainly would not be good for the economy.

It's the same in Canada. Companies here are firing people left and right. The unemployment rate is increasing. Meanwhile the liberal politicians have imported over a million people into the country over the last ten months!

So, stagnant wages, stretched infrastructure, rents exploding, and mortgages out of reach. But look: higher GDP!


It's cold in Canada

The slave class future doctors, engineers, and builders in New New Delhi Canada can't afford to pay the bills:

When Gobindbir Singh describes the stress international students are under, he remembers a young man who called in tears. Unable to pay his tuition for the upcoming semester, the student said his parents were selling their home in India and it still wasn't enough.

That's the condition of the study visa: sufficient financial resources to pay for tuition, rent, food, and transportation.

Post-secondary institutions and policymakers are facing significant scrutiny over the increase as colleges and universities increasingly use international student tuition to supplement inadequate government funding. Meanwhile, more stories are surfacing of international students living in substandard housing and relying on food banks.

I've seen clips of two Indian You Tube luminaries in Ontario who gladly stole from food banks while showing off their new cars a few videos later! They are not victims. They're fraudsters. If they can't afford the tuition and basic living costs, then they shouldn't be in Canada.

Singh, president of the Gurdwara Dukh Nivaran, said he believes one of the reasons students start using drugs is to deal with the mental distress of living in a place where they cannot afford housing or food, and to cope with loneliness. [...]

Singh said he would not recommend that parents in India send their aspiring students to Canada.


Boomers

No money for you!

How can I ever settle down and give them grandchildren if there isn't any money in the pipeline to support them? Do they want to go on holiday more than they want me to be able to have and bring up children?

I'm not alone in agonising over where my parents' hard-earned money is going. According to a survey by an online wealth management advice firm called Moneyfarm, two in five adult children feel their 'blood boiling' at the idea their parents are blowing their inheritance on luxury holidays.

Many years ago, my mother was showing her jewelry to my sisters. She was asking them about their preferences because, eventually, it'll be theirs. The conversation shifted to my dad. Hey, what do you want to give us? In a somewhat vicious manner, he stated that we'll get nothing from him.

Once you finish high school and college, there'll be no money for you. Get lost, you're on our own.

He wasn't kidding.

Another friend admits she puts phone notifications from her mum on silent when her parents go 'gallivanting abroad' — because all the pictures of dreamy destinations make her jealous. And resentful.

'My inheritance is currently being drunk through a straw in a coconut in the Caribbean,' she says. 'It's going to be slim pickings at this rate.'


100% increase in four years

A six-pack of coca cola bottles went for $2 in Canada four years ago. Now, it's $4. So, this story tracks well:

A restaurant in San Francisco’s Mission District is catching attention online after recently bumping the price of its signature burrito from $11 to $22.

Still, the following would definitely make one cry:

[...] the price of nearly everything he uses to make his food has gone up. Like onions for example. “Before COVID, they were like $9 a sack at Restaurant Depot, I used to pick them up. During COVID, and after, it was $40 dollars. Right now, it’s $80,” said Lopez.

An 800% increase for the price of onions!?


Where CHIPS go to D.I.E.

The Biden administration recently promised it will finally loosen the purse strings on $39 billion of CHIPS Act grants to encourage semiconductor fabrication in the U.S. But less than a week later, Intel announced that it’s putting the brakes on its Columbus factory. The Taiwan Semiconductor Manufacturing Company (TSMC) has pushed back production at its second Arizona foundry. The remaining major chipmaker, Samsung, just delayed its first Texas fab.

This is not the way companies typically respond to multi-billion-dollar subsidies. So what explains chipmakers’ apparent ingratitude? In large part, frustration with DEI requirements embedded in the CHIPS Act.

The following takes the cake:

There’s plenty for the left—requirements that chipmakers submit detailed plans to educate, employ, and train lots of women and people of color, as well as “justice-involved individuals,” more commonly known as ex-cons.

These are the secret ingredients for building $20 billion fabs and manufacturing bleeding edge computer chips:

  1. Mildly retarded colored people.
  2. Lots of vaginas.
  3. Criminals.

The Taiwanese and the Koreans must have been quite amused. Of course, if they refuse to hire such scholars, thespians, and strong, independent wahmen, then they are definitely VITE SOUPEMACISSS!

The CHIPS Act’s current identity as a jobs program for favored minorities means companies are forced to recruit heavily from every population except white and Asian men already trained in the field. It’s like fishing in all the places you aren’t getting bites.


Photo + Video

Nikon had the opportunity to buy a small company called Adobe many years ago. They passed. They could have owned photoshop!

Today, a more aggressive Nikon made the big leap towards video:

RED, the video/cinema camera company started by Oakley founder Jim Jannard, has been fully acquired by Nikon. RED and its 220 employees is now a subsidiary of the Japanese company.

Cool.

The RED acquisition solves that problem initially by putting Nikon in an established low volume, high price market that demands excellence. If you think about it, the RED Raptor and Komodo live at the top of the video world, the Z8 and Z9 live at the top of the stills world.

It will be nice to see the results of Nikon glass on RED sensors.


An important distinction

Vox on usury:

The thing that is important to understand is that while one can provide a loan, and one can legitimately receive interest on that loan, the collateral provided as a guarantee against default on it must be real, specific, and, of course, proportional to the value of the combined principle and scheduled interest of the loan.

As he mentioned earlier, student loans are wicked. This is especially galling in the US and Canada. Teenagers who are legally not trusted with a can of beer are too often crushed under a mountain of debt. I remember a literal burger flipper at my university cafeteria who was working many hours to pay off his predatory student loans.


The Destruction of Canada

Darshan Maharaja provides incredible details about the fraud and scams of the student visa system in Canada through the Indian perspective. His observations about Brampton where various diners and bakeries are closing, only to be replaced by another generic Indian restaurant, was quite illuminating.

The primary problem is the traitorous politicians who looked the other way from all the illegal activities, just so that their precious GDP didn't suffer a decline.

This is what the MSM should be covering but they mostly serve the Leftists who are in control of the system.

There are three videos, so far.

Second video:

Third video:

If you think that the title is hyperbole:

For the Indian community in Brampton—and across Canada, really—this catch-and-release system came painfully close to the bone last week when an accused, Arundeep Thind, walked out soon after his arrest by Canadian police. Not only that, thumbing his nose at the Canadian justice system and sending a warning to his alleged victims, Thind later shared a photo of himself sitting triumphantly in a Peel Regional Police cruiser soon after walking out, posting a chilling message: ‘Putt bach ke’.

Indians in Canada extorting other Indians in Canada. A few shootings have taken place. Your money or your life. Welcome to Canada!

Meanwhile, the desi business community is now living under more fear than ever. Speaking to a local Punjabi news channel, Prime Asia TV, an anonymous victim of extortions voiced those concerns.

“Saddi families daryian hoiyan, sadde employees dare hoye aa. We are at that stage today that either we leave the country or risk our lives to carry on. How come that guy they arrested (Thind) got to have his photo clicked in a police cruiser, with the door open and a smile on his face? Ki dikhana chonda ki bai meri police jeb de vich hai? Je fad ke banda chadna hi hai, then why are we paying taxes?”

There is a distinct possibility that the next news story about this saga will have this literal comment: Sadde dil te chhuriyan chaliyan!

Also, earlier this month, the police in Toronto arrested a 13-year-old and a 16-year-old for stealing a car that had a child and a baby inside. No mention of names or race. Of course, the older teenager already had outstanding warrants.


Life is tough

It's tougher when you're stupid:

A Nova Scotia senior is planning to return to work at the age of 77 amid the strains of high living costs. “I don’t know what’s going to happen in the future, but it doesn’t look pretty,” Janet Brush says.

She lives on a fixed income and estimates she spends nearly half her money on rent alone.

This 77-years-old woman doesn't have a condo or a house!? Also, she lived through the most incredible stock market period over the past 40 years and she doesn't have enough money for retirement!? I know high school teachers who saved, invested, and have over a million dollars in their registered retirement plans. What the hell did she do with her earnings for all this time?

“I can’t go stocking shelves at Sobeys or flinging hamburgers — I can’t do that anymore,” Brush says. “I’ll have to rely on my intellectual skills, I guess.”

Good luck.


End of an empire?

McDonald’s CEO admitted the burger giant’s sales have taken a hit as jacked-up menu prices have turned off core customers — and signaled the chain plans to focus on “affordability” this year.

I've seen some crazy prices but this shocked me:

Over the summer, a franchisee in nearby Darien, Conn., was called out for charging $17.59 for Big Mac combo meal. That location also sold a Quarter Pounder with Cheese and Bacon meal that came with fries and a soda for $19, according to viral posts.

One quarter pounder meal for $19!? I was in Toronto last month and ordered three combos at a Thai take out place for US$17. Those were three huge meals with rice, noodles, chicken, shrimp, broccoli, etc. It's not only that cooking at home is significantly cheaper relative to McDonald's, other places have more reasonable prices.


Berry Berry Bad Parasite!

An Indian student in Canada decides to upload a video with this description:

Hello everyone, this video is about a day I went to a food bank in Canada, where you can get free food. I decided to shoot it and share it with you all.

The comments were quite spicy: shameful behavior, disgusting, thief, foodbank is for the needy not greedy. So, she turned the comments off.

The cherry on top is the video she uploaded next: Bought a New Car in Canada. Poor Canadians are learning about diversity the hard way.


What the $%!?

He's a few decades short of FU money there.


It isn't the work ethic

It keeps getting worse:

The reason Gen Z and millennials are “getting angry and entitled and whiny,” Scott says, isn’t because they’re any less willing to work than previous generations, but because they’ve got nothing to show for it.

“What’s sh-tty is, we’re holding up our end of the deal,” Scott says. “We’re staying in school. We’re going to college. We’ve been working since we were 15, 16 years old…doing everything that y’all told us to do so that we can what? Still be living in our parents’ homes in our late twenties?”

It's so strange when Boomers say that the younger generations are lazy. It doesn't take a rocket scientist to understand the cold math which illuminates the ugly reality.

An example from a different era:

  • Time: Early 70s.
  • Profession: Barber
  • Income: $20,000
  • Loans: From dad and friends
  • Price of house bought: $55,000
  • Loans paid off in 3 years

An example from last year:

  • A professional couple making $200,000
  • Looking at house near Toronto
  • Price of house: ~$1.2 million
  • Bank refuses loan!

So, a barber working alone could afford to buy an average house fifty years ago in Canada. Today, an educated and credentialed couple working full time while making 10 times the income of that barber can't even get a mortgage!

The same applies in the US:

To afford the median-priced home of $433,100, Americans need an annual income of roughly $166,600. However, the median household earns just $74,580, according to the brokerage Home Bay, and entry-level positions pay around half of that.

Incomes have been stagnant while the housing market has exploded. Decades ago, one income was enough for a nice house. At the turn of the century, two were needed. Now, a couple busting their butts looks at tiny condos.

Oh, and we haven't even looked at student loans, food prices, car expenses, the rising cost of health insurance, ...


Smell like curry

Welcome to Canada:

Someone just took the meaning of bed and breakfast to new heights. That’s because an ad posted to Kijiji shows a room for rent in Brampton for $350 a month.

Sounds like a steal, right? That is until you see the picture of the room and quickly realize it’s actually a bed in the middle of the kitchen.

Those are rookie numbers! He needs to pump those up. Put a bunk bed with three levels. Charge $500 each. There will definitely be diligent and honest international students who'll pay for that.


Not just Boeing

The crew at the airport didn't carefully check the Airbus:

A New York-bound Virgin Atlantic flight was canceled just moments before takeoff last week when an alarmed passenger said he spotted several screws missing from the plane’s wing.

It was an independent wing. It wants to soar by itself! It needs no oppressive screws!

Seriously, it begs the question: what the hell is the maintenance crew doing? If such a visible problem was ignored, then what other structural issues in the planes are creeping up?


Canada becomes Trash-can-istan

That's not even counting the over one million people who have decided to overstay their visas because the Canadian government is interested in more labor to drive down real wages. The smartest Canadians are leaving to work in the US while the federal government imports millions of Indian "students" who're interested in working 40+ hours a week. Wages are stagnant while the housing market is one of the most expensive in the world. A one-bedroom apartment that used to rent for $600/month a decade ago is now approaching $2,000 in my city.

Whites are being replaced by Indians. The change has been swift and jarring. In just one year, half a dozen minimum wage employees are gone from two local stores. All the new workers are Indians. Worse, they're shockingly incompetent. Their error rate with me has been about 50% in the past few months. This isn't rocket science. They're cashiers!


Berry Berry Bad Algoma!

Indian student are not happy with Algoma University:

Failing marks for dozens of international students have led to a days-long sit-in at an Ontario university, with some frustrated students saying they've been left feeling as though the school is trying to milk them for more money.

In response to the controversy, Algoma University has re-evaluated the grades in one online course offered by its Brampton campus and, finding them "abnormally low," has given dozens more students a passing grade. It's also moved to offer the students a free makeup exam.

Just take a look at these failures future doctors and engineers.

Runing career

Stop runing their careers Algoma! CAD 26000 are enough!

There are eight people in that photo and none of them are familiar with spelling, grammar, or spell check! Somehow, it isn't shocking that they failed a postgraduate course.


Importing millions should fix it!

8% of Canadians are waiting for healthcare services. Those who cry about "fairness" for not having a parallel private health care system in Canada, forget a simple fact. The wealthy in Canada simply travel to the US and pay tens of thousands of dollars for prompt healthcare services.

None of those 8% are multi-millionaires. Only those who don't have the means to afford the fees are stuck in line, waiting to die, in Canada.