Canada ERUPTS as Country Goes BANKRUPT – Trump CASHES IN!
Episode Stats
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Summary
Canada is on the edge of a recession as exports crash and the economy shrank in Q1 of 2019, and the parliamentary budget officer has warned that the country may not have two years to turn things around.
Transcript
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holy crap guys the economic and financial outlook in canada has become so dire that the
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parliamentary budget officer which is basically the government's accountant the bookkeeper has
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been sounding the alarm over the past 24 hours this guy was so dumbfounded and worried about
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the canadian economic outlook that he just kept saying how unsustainable things are looking again
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this is a guy who the government appoints to look at the books look at the budgets look at the
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financial health of the country and he just keeps saying that canada may not have two years to course
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correct that's just how bad the situation is skyrocketing debt tanking gdp per capita because
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that's the thing the liberals keep using this whole gdp thing which they keep artificially
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increasing with mass immigration you bring in more people the gdp goes up but what they don't
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tell you about that particular practice is that it's all artificial because what matters in reality
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is gdp per capita just 10 years ago gdp per capita in canada was actually par or higher than the united
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states citizens of canada were among some of the wealthiest in the world just a short 10 years ago
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but now gdp per capita has dropped dramatically and again this is coming from the parliamentary
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budget officer this is not just anybody talking this is a guy who has access to the books
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he has access to all financial statements to every loan that the government is taking to the the revenue
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that the country is generating and he just kept repeating the words unsustainable shocking to
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describe the current financial situation in canada if that doesn't say just how bad things are going up
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up north i don't know what does watch if you support these videos please like and subscribe i appreciate it
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the public debt charges is 53.6 billion dollars and that projection is going to increase to in 2030
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to 82.4 billion dollars is that sustainable um every dollar spent that on debt is a dollar that is not
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spent um elsewhere again how alarming is that for for the average canadian for the taxpayer because there
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is only one taxpayer right it should be very alarming right these these are i don't know i think i used
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the words in french and which the translators probably got really well like stupefying shocking
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right this is not like it's not a it's it's not it's not a it's not a it's not a it's not a funny fiscal
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outlook it's it's a really serious fiscal outlook it's and we don't lightly use the word
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unsustainable right unsustainable means you don't have the option of saying maybe i'll wait a couple
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of years i'll see how things go it means if you don't change this is done still working out the kicks
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uh with respect with it thank you for your question uh to answer i think the most important part of the
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question first i think everybody should be concerned uh it's a real my jokes aside uh it's a really
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serious day right this is the first time in 30 years that we've tabled uh an economic and fiscal
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outlook where the fiscal anchor of the general and probably most important fiscal anchor for any
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government is a declining or at least stable debt to gdp ratio
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uh and this is the first time in 30 years that i've seen one in which that ratio is going up over
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time so that's definitely a that's definitely a cause for concern certainly on our end uh we're
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hoping and certainly expecting the government as part of budget 2025 to clearly indicate what the
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government plans to do to address this uh and potentially uh address this problem because
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it's certainly not sustainable canada is on the edge of recession as exports crash
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while their new globalist prime minister looks for new fights to pick with donald trump so it crashes
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harder the numbers come from stats canada who reports the economy contracted by an annualized
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one point six percent last quarter driven by an annualized 27 percent drop in exports business
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investment fell on annualized 10.1 percent last one out turn off the lights the one growth area was
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government spending which soared five percent while the economy shrank bureaucrats recession
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proof since 1867 the news sent the canadian dollar the loonie tumbling to just 72 cents
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in 2012 the canadian dollar was worth more than the u.s dollar it's already carnage up north after
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a decade of justin trudeau and canada's new world economic forum approved prime minister mark
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carney carnage they call him in short wages are west virginia while housing costs are los angeles
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one of the oecd disposable incoming canada was left after taxes is just 57 percent what it is
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in the u.s economically we have such power over canada i'd rather not use it but they did something
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with our tech companies today trying to copy europe you know they copied europe it's not going to work
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out well for europe either and it's not going to work out well for canada they were foolish to do it
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so i said we're going to stop all negotiations with canada right now until they straighten out their act
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the only people who thought canada could stand a chance going toe-to-toe with an economy over 10
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times its size were the willfully blind or the poor souls watching government paid media and believe in
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them the truth is the united states doesn't even want to cause damage to canada they just want a fair
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trade deal and for ottawa to finally control its leaky northern border and drug pipelines here's the kicker
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though even the government-funded media you know the same folks who usually gaslight the public to
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protect their liberal buddies they're now forced to admit the truth and watching them eat crow on live
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television is priceless if you look at gdp the canadian economy doesn't appear to be doing all that bad
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heck we're not even in a recession as of last count canadian gdp growth was just keeping its head above
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water so the economy is technically still growing but the numbers change considerably when you look
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at measures of worker productivity they keep dropping and they're projected to keep dropping
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for the next 40 years canadians are going to work they're clocking in their eight hours but on average
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they're producing less than they used to it's gotten to the point where ontario canada's largest
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province now has a per capita gdp roughly on par with alabama one of the poorest states in the u.s
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and this is affecting our standard of living university of calgary economist trevor toome
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crunched the numbers and figured out that if canadian labor productivity had instead spent the
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last six years keeping pace with the u.s you know instead of remaining stagnant we'd all be making an
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extra fifty five hundred dollars hey if you've made it this far thank you so much for watching
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