As Canadian Prime Minister Justin Trudeau continues to gaslight Canadians into believing they have never had such a great economy. Canadians can see from their daily lives that things are far different from how Justin Trudeau presents them,
All this week Trudeau and his Liberal casuals members tried touting how great Canada’s economy is in the House of Commons.
Trudeau said Wednesday that, following the U.S. and Brazil, Canada was third in the world for foreign investment in the G20 per capita.
“Inflation is in the target range for seven months in a row. Interest rates are down three times in a row and the IMF says that we will have the strongest economic growth in the G7,” Finance Minister Chrystia Freeland said.
“We have the strongest economy in the G7, foreign direct investment per capita is tops in the world,” added Immigration Minister Marc Miller.
However despite Trudeau’s fantasy claims after three years of terrible inflation, Canadians still find sticker shock over food prices. Yes, inflation has dropped to 2%, but this does not suggest that prices are declining; rather, they are merely rising by 2% instead of the 8.1% peak we seen not too long ago.
Earlier this year, Stat Canada reported that food bought from retailers raised 21.9% in price between “June 2021 to June 2024.” People see each and every week when they visit the store that those costs have not dropped to their former levels.
Restaurant owners have had to pay for higher labour costs as salaries have grown in addition to paying more for food, so driving prices there through the roof. While workers embrace those pay raises, a weak dollar and a declining GDP per capita have reduced Canadians’ buying power.
Canada’s GDP per capita, which gauges our level of living, is the same as it was in 2017, claims Stats Can. We are growing poorer while our American neighbours are becoming wealthier.
According to Brian Lilley from the Toronto Sun this is the reality Canadians are dealing with when it comes to the economy, not a study from a far of foreign organization. And as the Trudeau government points to interest rates coming down, that doesn’t mean Canadians aren’t still hurting.
According to Lilly, from the 30.9% increase noted in August 2023, the newest inflation report indicates that the mortgage interest expense index is still shockingly 18.8%. This is an improvement from However, the cost of real estate in that period has risen and Canadians are still paying more for renewing their mortgages than they were five years ago.
Concurrently, unemployment has dropped from 5% just over two years ago to 6.6% in the most recent employment data.
Not the indicators of a strong economy include food prices, mortgage and rent costs, unemployment, decreasing GDP per capita. Telling Canadians things is simply fantastic when they can clearly see that’s not the case isn’t a winning political tactic.
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