TSX:AX.PR.E - Post by User
Post by
Torontojayon Jun 26, 2024 6:57am
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Post# 36106455
Main stream media
Main stream media Is trying to sell you a soft landing narrative. Don't believe it.
Canadians are suffering more than ever. It is becoming increasingly difficult on two incomes to keep up with the cost of living. Our purchasing power and quality of life has dwindled and our leaders have let us down. Do you call that a soft landing? Ma please.
Canada's unemployment rate has already increased by an amount consistent with a recession. Just to put things into perspective, the unemployment rate usually increases by about 2-3% in times of a recession and Canada is already about halfway there. Moreover, Canada tried to
dodge a bullet with mass immigration to prop up gdp numbers but that comes at the expense of higher unemployment figures. Not all of these landed immigrants are going to find a job and so one could make a sound argument that the unemployment situation could get much worse in the months ahead.
What makes the current macro environment worrisome is that unemployment is rising along with inflation. This is classic stagflation and we all remember what happened in the 1970's. It didn't end well.
Keep dry powder ready for when s*it hits the fan.