Global Macro

CBC News published a fantastic report explaining how Canada’s explosive immigration-driven population growth crush-loaded housing, services, and infrastructure, wrecking productivity and living standards.

The report of the COVID-19 inquiry has concluded that the former Coalition government’s pandemic spending contributed to a spike in the inflation rate.

Economists at the National Bank of Canada published research arguing that Canada was caught in a “population trap” of declining productivity and living standards.

Canada’s economy is a basket case.

Last year, The Australia Institute released research claiming that the corporate sector was responsible for over two-thirds of Australia’s inflation above the Reserve Bank of Australia’s (RBA) target.

On Friday, Statistics Canada released data showing that the nation’s real GDP expanded at an annualised rate of 2.1% in Q2 2024, beating the consensus estimate of a 1.8% increase.

Canada and Australia have resorted to “quantitative peopling” to give the illusion of growth while individual living standards are collapsing.

Earlier this year, economists at the National Bank of Canada published research showing that Canada is caught in a “population trap” of declining productivity and living standards.

The National Bank of Canada has released the following chart showing that annualised real per capita GDP growth in Canada has declined for eight consecutive quarters: “Economic growth remains weak given the demographic boom”, note the economists at National Bank of Canada.

Figures from the Australian Automobiles Association reveal that new car sales hit a new July record of 99,486.

Politicians, think tanks, vested interests, and the media frequently spread the myth that high levels of immigration are necessary to raise productivity and living standards in Australia.

Canada’s economy and living standards are gradually disintegrating.

Canadian unemployment is climbing sharply as labour supply piles up amid a deteriorating economy. Canada’s official unemployment rate jumped to 6.4% in June, the highest level (outside the pandemic shock) in almost seven years.

The Economist has published another immigration propaganda article warning of dire economic consequences if rich nations dial back on record immigration. The article notes that “in the past three years 15 million people have moved to rich countries, the biggest surge in modern history (see chart 1)”.

It doesn’t really matter much that Donald Trump is an observable psychopath who holds democratic conventions in contempt and has a business model that revolves around borrowing billions, harvesting government contracts, and avoiding paying tax.

Canada’s economy is an unmitigated disaster.

Canada’s economy has turned into an economic disaster zone.

It is amazing how similarly the migration debate is playing out in Canada and Australia.

The Resolution Foundation claims that record immigration into the UK is masking a crisis in productivity and has failed to improve Britons’ living standards.

Earlier this year, Australia’s media, the Productivity Commission, and business lobby groups ran the argument that Australia’s low labour productivity would prevent the Reserve Bank of Australia (RBA) from cutting interest rates.

The Bank of Canada (BoC) cut its policy rate by 25 basis points to 4.75%, becoming the first G7 central bank to begin an easing cycle.