Quote:
Originally Posted by VRYALT3R3D
Canada would be in a recession without the immigration. That is what its masking. Fuck JT and good riddance
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That's a oversimplification of what happened - it was a combination of what he inherited, his lack of action, and the conditions he had to manage through. Recessions don't happen in a vacuum (unless you're Trump and decide to wage a WILDLY stupid trade war against all your partners).
In the 90s we finally had to come to grips with our overspending (mostly caused by the first Trudeau) which resulted in deep cuts of foundational programs (like social housing) - that underinvestment continued through the Harper govt (see below) and continued through the JT govt. Harper rode a strong economy and then made oil a priority but then prices collapsed (and the investment did as well).
We're paying for the sins of the past - my hope is that someone like Carney, who knows a thing or two about economics (that's what I keep hearing) can help set the ship straight but the payoff isn't going to happen this decade.
GDP per capita data:
https://data.worldbank.org/indicator...D?locations=CA
https://www150.statcan.gc.ca/n1/pub/.../00001-eng.htm