Canada Economy Grinds To A Halt Under Scandal Ridden Trudeau!
As the Prime Minister of Canada, Justin Trudeau, faces a scandal that includes prostitution, threats and bribery, the nation’s economy is also in serious trouble!
The economy in Canada has literally came to a halt beginning in the last half of 2018. The country closed out 2018 with its weakest quarterly economic performance in two and a half years.
While in recent months, slowdown was expected, things are crashing harder than anyone even predicted. Literally, no one saw it coming!
It could actually be worse, the current GDP growth of 0.1% could easily be revised into a contraction. The only thing that seems to be holding things together is the job market, and any economist knows that with a bad economy, that will collapse next.
The weaker GDP growth for all of 2018 reflected a slowdown in most categories, including weaker results for household consumption, business investment and housing investment, which contracted 2.3 per cent.
The Financial Post reports:
The country’s economy grew by just 0.1 per cent in the fourth quarter, for an annualized pace of 0.4 per cent, Statistics Canada said Friday from Ottawa.
That’s the worst quarterly performance in two and a half years, down from annualized 2 per cent in the third quarter and well below economist expectations for a 1 per cent annualized increase.
While a slowdown was widely expected in the final months of the year due to falling oil prices, it’s a much bleaker picture than anyone anticipated with weakness extending well beyond the energy sector.
Consumption spending grew at the slowest pace in almost four years, housing fell by the most in a decade, business investment dropped sharply for a second straight quarter, and domestic demand posted its largest decline since 2015.
The only thing that kept the nation’s economy from contracting was a build-up in inventories as companies stockpiled goods.
At the very least, the numbers suggest that heightened uncertainty — everything from the impact of higher interest rates to potential trade wars and oil-sector woes — has made a real impact on both consumer and business sentiment.
The question now is what the weaker-than-expected data suggests about the economy’s ability to rebound back to more normal growth levels.
There may be no immediate relief throughout 2019. Most economists have been expecting the first three months of this year will be even weaker.
It is not surprising. We have seen the same thing happen in New York, California, and Illinois due to liberal policies of over-taxation and high government spending! Liberal policies have failed everwhere they have been implimented. In trying to make things fair, the policies destroy the economy. Look at Detroit!
The Premier of Ontario tweeted:
The Liberal government needs to scrap their job-killing Bill #C69, which has put economic growth at risk in Ontario and across Canada. #onpoli #cdnpoli
Minister @GregRickford went to the Senate in Ottawa this week to stand up for Ontario workers in the energy & mining sectors.
— Doug Ford (@fordnation) March 1, 2019
Canada is the world’s second-largest country by land area and has its 10th-largest economy. Prime Minister Justin Trudeau’s Liberal Party shifted Canadian politics to the left after ending the Conservative Party’s decade-long rule in 2015.
Canada’s GDP is similar to that of Texas, which had a gross state product (GSP) of US$1.696 trillion in 2017.