What’s the current status of the Canadian economy? / Quelle est la situation actuelle de l’économie canadienne?

[athetsis]

@its_me1945 The use of GDP growth as a counter-metric to allow the devaluation of the currency was the canary in the coalmine, and that canary is long dead.

 

[rohith]

@athetsis They bought new canaries with the extra money they printed.

 

[kinetictony]

@athetsis That has been common practice for decades. Devalue to boost exports and reduce imports.

 

[natenate]

@athetsis If we were still pumping out oil like no tomorrow devaluing the currency wouldn’t be the end of the world. We’d get paid in USD for oil and attract huge amounts of foreign investment from a devalued cad. Some boomers would be pissed they can’t afford a house in Florida tho.

 

[texans44]

@its_me1945 If you strip out petroleum products (thank you Alberta!) Q2 saw some serious GDP contraction….in almost every other sector.

Yikes

 

[calebsmithalaska]

@texans44 That's crazy talk no one wants to hear or believe. Everything is fine....right

 

[crcoopertx]

@its_me1945 Not necessarily. It could be indicative of labour shortages creating gaps, which will need to be filled overtime or resolved with technology. We will see

 

[bill2]

@audreyl Middle and lower class are being stomped on

 

[dwelsh718]

@bill2 Define middle class