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Social Justin Trudeau announces resignation

Sweater of AV said:
I was looking at some of their economic metrics the other day to see how they would fare as #51 and I'm pretty sure Sherdog has a higher GDP per capita than Canada.

Trudeau's government took that economy out at the knees and trampled all over it. The country is basically a hilariously bloated real estate market at this point. Whoever's next in line has a hell of a mess to clean up.
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Their largest company is a Bank. 4 of their top 10 companies are banks (by market cap). US doesn't have a single bank in the top 10 and only one in the top 20. Not a good sign when banks are your country's biggest revenue generators.
 
flektarn said:
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I'm sure this bozo will be very missed
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I believe that has far more to do with the Bank of Canada's intertest rates than anything he had his hand in.
 
Morning Star said:
Their largest company is a Bank. 4 of their top 10 companies are banks (by market cap). US doesn't have a single bank in the top 10 and only one in the top 20. Not a good sign when banks are your country's biggest revenue generators.
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Yup. And our banks are even more highly leveraged now than their US counterparts were in 2008, gee, what could possibly go wrong?
 
gatchaman said:
Excuse my interjection, but Trump returning to office may have a negative impact on the Canadian economy.

During his first term, Trump increased American oil production, which decreased the oil price. The energy sector is the largest portion of the Canadian economy, and oil and gas is the largest portion of the energy sector.

A big problem for Canada going forward is the cancellation of the Energy East pipeline under Trudeau, during Trump's first term. If Trump puts a tariff on Canadian oil, Canada is going to suffer prioritizing north-south pipeline development over east-west because Energy East would have to start over from scratch and the cost of building stuff is higher.

It's a testament to Trudeau's incompetence that the Canadian dollar, an oil dollar, has been losing ground to the USD during a time of high oil prices.
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Energy sector is nowhere near the largest of Canadian economy. The service sector is orders of magnitude larger.

Canada has been wholesaling it's resource wealth for decades. Compared to Norway, another northern developed economy with hard oil deposits, canada gets pennies on the dollar in exchange for environmental destruction of its territory, and dependence on both imports and exports to america of energy. This makes for great short term political power but when the Americans elect a less than friendly president, Canada is left holding the bag. This isn't a Trudeau problem though.

It's actually impressive how the Trudeau Liberals have absolutely tanked themselves. They've made a show of the absolute worst parts of progressivism and environmentalism, while doing nothing of substance. They've finger wagged and lectured Canadians about gender parity abd human rights while totally fucking up the un declaration of rights of indigenous persons and freezing the bank accounts of those dickhead trucker protestors. They've stood by as an affordability crisis in housing has laid waste to nearly the entire country, which directly erodes society by preventing people from affording a house in the same neighborhoods they grew up in. They've purchased a massively overpriced pipeline despite constantly banging the drum about the need for renewable energy and environmental protection and they've done a terrible job of selling the country on the carbon tax - at best failing to describe how this is revenue neutral and at worst by glibly insisting that anyone who has a problem with the carbon tax is something like an illiterate moron who's destroying the planet.

We'll see. I dont know anyone who supports Trudeau. I dont even know anyone who doesn't just hate him.
 
Morning Star said:
Their largest company is a Bank. 4 of their top 10 companies are banks (by market cap). US doesn't have a single bank in the top 10 and only one in the top 20. Not a good sign when banks are your country's biggest revenue generators.
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aerius said:
Yup. And our banks are even more highly leveraged now than their US counterparts were in 2008, gee, what could possibly go wrong?
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Canada has the highest household debt to gdp in the g20. So when you have over leveraged banking institutions as your leading economic entities and have a population who owe more than they make...well that is going to be one hell of a bubble pop. Add in employment productivity is at gimp level and over taxation has killed FDI -- a balloning deficit 50% higher than "expected" all with a ruling government that has a mantra of "the books balance themselves" that is one Liberal recipe for disaster.

Hopefully Canadians can survive off eating legal pot and gender equality.
 
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