Whenever I have conversations with people about economics, they frequently like to point to Canada as an example of big government socialism that works. “I just want free single-payer health care and diversity” they cry. “Canada is doing fine, they’re wealthy”. Well, let’s take a look at a report from the federal police in Canada, and find out what they think is really going on.
This is from National Post, one of Canada’s national newspapers:
A secret RCMP report is warning the federal government that Canada may descend into civil unrest once citizens realize the hopelessness of their economic situation.
“The coming period of recession will … accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations,” reads the report, entitled Whole-of-Government Five-Year Trends for Canada.
“For example, many Canadians under 35 are unlikely ever to be able to buy a place to live,” it adds.
The report, labelled secret, is intended as a piece of “special operational information” to be distributed only within the RCMP and among “decision-makers” in the federal government.
[…]Right from the get-go, the report authors warn that whatever Canada’s current situation, it “will probably deteriorate further in the next five years.”
[…]In terms of declining living standards and inaccessible home ownership, the RCMP’s warnings are indeed in line with available statistics.
Canadian productivity — measured in terms of GDP per capita — has been trending downwards since at least the 1980s. But this has accelerated dramatically in recent years — even as per-worker productivity rises in many of our peer countries.
If you remember Canadian politics, Canada was doing well under conservative Prime Minister Stephen Harper, an economist. But then, they decided to elect a part-time drama teacher and snowboarding instructor, with a famous last name, and nice hair. That happened in 2015, and it’s been downhill for Canada’s economy ever since.
More:
An analysis last year by University of Calgary economist Trevor Tombe found that if Canada had merely kept pace with U.S. productivity growth for the last five years, Canadian per-capita earnings would be $5,500 higher than they are now.
Meanwhile, housing affordability has reached “worst-ever” levels in most of Canada’s major markets, according to a December analysis by RBC. On average, even condos are now so unaffordable that only 44.5 per cent of Canadian households had sufficient income to buy one at current prices. As for single-family homes, only the richest 25 per cent of Canadian households had any hope of obtaining one.
“Economic forecasts for the next five years and beyond are bleak,” reads the RCMP’s assessment of the rest of the decade, even adding a quote from French President Emmanuel Macron that “the end of abundance” is nigh.
By the way, Canada was also in the news this week for their new hate speech / hate crime legislation. Any dissent from the secular leftism of the ruling communist party will be met with massive fines and up to life in prison.
WINTERY KNIGHT 