RE:Canada
garyreins wrote: GDP per capita is negative, retail bankruptcies are on the rise, mortgages needed to be amortized for 30 years, unempoyment is 6%, and this BOC guy is still going on about inflation.
just reaffirms what i know- the agenda is set- the great reset.
theyre all in on it
You have 2 basic definitions of a recession:
1) GDP is negative for 2 consecutive quarters. Q3 was negative but Q4 was positive so technically not a recession. Mainstream loves this definition of a recession but it's a bit outdated. The country used immigration to prop up its GDP numbers but hopefully nobody was fooled by this.
2) GDP per capita is negative for 2 consecutive quarters. This is less conventional but in my opinion is much more meaningful to a specific person. It tells you that the standard of living is declining as well as your purchasing power.
Canada had had 6 consecutive quarters of negative GDP per capita which is absolutely terrible. With non permanent residence about to decline meaningfully in the near future, I expect a significant headwind for GDP in the quarters ahead. Moreover, if the US slumps into a recession in the second half of the year, then I expect continued challenges for the Canadian economy.