Seems like you Canucks ain't doin' so well, your economy - and thus per capita GDP is shrinking... ZERO economic growth in more than 6 years... Ontario and Alabama now have the same per capita GDP... even the Globe and Mail is willing to publish editorials sounding the alarm...

Canada fact of the day

by Tyler Cowen March 2, 2024 at 2:43 am in Current Affairs in Marginal Revolution:

https://marginalrevolution.com/marginalrevolution/2024/03/canada-fact-of-the-day-4.html

"I moved to Canada from the US right at the peak of Canada's economic success, right before the 2008 financial crisis. I fell in love with the place. They did a good job of weathering the storm of 2008. Things were looking up for Canada's high-tech sector. They looked like they were finally going to become a player, with a world-class technology sector, instead of a country of oilmen and lumberjacks extracting value from the ground... Now GDP per capita is steadily falling, and it will continue to do so indefinitely unless something changes... Anyway, I'm leaving. Back to Old Country. This place is circling the drain..."

As productivity plunges, Ontario and Alabama now have the same per capita GDP:

https://thehub.ca/2023-06-15/trevor-tombe-most-provincial-economies-struggle-to-match-the-u-s/

A problem is this:

https://tnc.news/2022/03/28/35-of-government-sponsored-refugees-still-on-welfare-after-10-years/

"Rather than sticking to Canada's merit based immigration system, the government has been admitting hordes of Middle Eastern refugees who have not been productive but rather have been mooching off of the welfare system for over 10 years... Previously, the 1976 Immigration Act had made it mandatory for newcomers to demonstrate they had work skills and the ability to be economically independent. The Chretien government disposed of the requirement, so refugees no longer had to prove they were unlikely to rely on social assistance..."

Canada fact of the day

https://marginalrevolution.com/marginalrevolution/2024/03/canada-fact-of-the-day-4.html

https://twitter.com/mikalskuterud/status/1763207065135464872

*NEW* Canada's GDP grew by 1.1% between the 4th quarter of 2022 and 2023, while its
population grew by 3.2%.

That means GDP per capita is now falling at 2% annually (roughly the
difference).

Zero economic growth in more than 6 years..."

COMMENT from Ryan:

"Don't worry, the government has a plan. We will continue to grow our population by 3% a year while building zero additional housing, then introduce the new "online hate" bill which will allow the government to punish far-right extremists (anyone who complains) with life imprisonment.

Also your social media accounts will be tied to your ID to help the government better protect you from dangerous content.

https://nationalpost.com/news/politics/liberals-harmful-online-content
https://www.michaelgeist.ca/2024/01/site-blocking-and-age-verification-for-twitter-instagram-snap-and-twitch-age-verification-lobby-confirms-it-wants-bill-s-210-to-cover-all-social-media-sites/ "

COMMENT from Picador:

"It's even worse than that single Tweet can capture.

Canada's GDP per capita was already stagnant, since 2008. Here's a nice comparison to the US and Mexico:

https://www.google.com/search?q=canada+gdp+per+capita

Now GDP per capita is steadily falling, and it will continue to do so indefinitely unless something changes.

Investment per capita is down 20% over the last 15 years:

https://www.bnnbloomberg.ca/business-investment-per-worker-fell-20-in-15-years-amid-weaker-competition-statcan-1.2038056

Even the Globe and Mail is willing to publish editorials sounding the alarm. Here's a pretty good synopsis, and prognosis:

https://www.theglobeandmail.com/opinion/article-canada-is-no-longer-one-of-the-richest-nations-on-earth-country-after/

I moved to Canada from the US right at the peak of Canada's economic success, right before the 2008 financial crisis. I fell in love with the place. They did a good job of weathering the storm of 2008. Things were looking up for Canada's high-tech sector. They looked like they were finally going to become a player, with a world-class technology sector, instead of a country of oilmen and lumberjacks extracting value from the ground.

Then it all stalled out. Perhaps Canada is doomed by its geography: huge and unpopulated northern regions with land useless for anything but mineral extraction, cold weather, long distances, and worst of all, a tiny population completely dependent on trade with the richest country in history to its south, whose companies out-compete it and who lures away its top talent.

Anyway, I'm leaving. Back to Old Country. This place is circling the drain..."

--
GM