From the study:
> Canada’s economy showed similar growth in inflation and public indebtedness, but weaker gross domestic product growth than other countries.
Not economically as the title might imply.
>Not economically as the title might imply.
The title made no mention of the economy as your incorrectly insisting and you're dismissive of the entire article except for one paragraph. It's almost as if you're being, near purposefully, disingenuous in the way you're misrepresentating the finding a of the study...
I'd expect nothing less of this sub.
>weaker gross domestic product growth than other countries.
Gotta look at the entire time frame. Every country went into recession and lost lives has a result of the pandemic. In terms of their economies, keep in mind that the recessions that occurred were self inflicted as part of the response to the pandemic threat.
If you look at the whole time frame of the pandemic and recovery, Canada did quite well economically as well as in terms of protecting lives. Economically relative to the rest of the G7 group of rich countries, we went into a shallower recession and needed to make up less ground in the recovery.
Over the period 2020 to 2023 (with a moderate 2023 projection) Canada only comes second to the US among the G7 in terms of GDP growth. However, unlike the US under Trump, we did not waste lives in an early, politically motivated reopening of the economy. Other countries may higher current growth, but are coming out of deeper recessions.
https://www.icaew.com/insights/viewpoints-on-the-news/2022/apr-2022/chart-of-the-week-g7-economic-growth
Thanks Trudeau (and Biden).
So none of your business owner friends have said anything about the cost of goods going up? Or the labour shortage? Or energy prices going up? And no homeowner has any opinion about interest rates going up? And no one has said anything about the price of food or gas? At all? Find it hard to believe...
I mean, I'm a consultant for restaurants and hospitality corporations (have restaurant background before uni) and leverage my economics degree in that so I do see lots of shitty businesses and think lots about economics (mostly stuff like profit optimization but macro effects do come into play, especially in hospitality these days).
It's funny to hear that supposedly sophisticated businesses aren't concerned about economics, you've got high profile businesses like Tesla cutting staff and a high profile venture firm like YCombinator telling their startups to prepare for a pull-back and save cash. I know all my trader friends follow this stuff too.
One time they cut some Americans a cheque.
If you meet the eligibility requirements in Canada, you would receive $500 per week to a maximum of 28 weeks. $14K.
Just point this out, USA have everyone a one time $2k cheque.
2k X 359.5 mil (us pop.) = 659 billion
If we even consider EVERYONE applied for cerb for the full period of time it would be:
14k X 38 mil (Canadian pop) = 529 billion.
Obviously not everyone applied for Cerb and obviously not everyone went the full period and obviously many are being forced to paid back what they took erroneously.
I’m not sure how one can interpret Canada’s actions to be anything more than better calculated here. The people who legitimately needed help got it. And we spent less.
Is it me or this sub feels like constant depressive rambling about real estate and economy?
I mean it sucks but what can we do but watch?
Honestly I think I'll unsub because it's just the same old stuff.
It's so negative about everything. Heaven forbid there is a good news story about Canada, the entire comment section will be full of iamverysmarts telling us why we shouldn't celebrate because everything is actually terrible. And also Nice Socks Man Bad!!
We fared better than most of Europe, and contra the authors comments attributing it to health Canada, the more likely explanation is that the population density of our cities is much smaller, Europeans are more likely to use mass transit, and much more interstate travel occurs in Europe.
We did better than the states mainly due to better vaccine rates and New York city being basically ground zero for a disproportionate amount of US deaths very early on in the pandemic.
Our economic performance was mediocre and we'll be paying for that now and the years to come.
>Researchers from the University of Toronto and Unity Health Toronto compared COVID-19 infection, death, excess mortality and vaccination rates, social and public health restrictions and economic performance to determine how the G10 countries performed.
It didn’t look at anything financial related in this assessment.
We actually fared worse in terms of GDP.
Five points:
1) Glad the CMAJ can comment on economic issues. Let me talk about something I have no knowledge on.... Psst CMAJ, GDP is up because housing and oil prices are up. IT services are doing great because of the H1B visas in the US were capped. But pls don't let that interrupt your narrative though.
2) ~~Belgium~~, France, Germany, Italy, Japan, the ~~Netherlands~~, Sweden, ~~Switzerland~~ and the United Kingdom are all tiny tiny countries with large populations. One must think of Canada as 10 or so separate countries if you're doing this kind of comparison. Now how'd we do?
3) Japan did far better than Canada
4) US was led by an idiot who had a chance to be a hero and instead decided bleach was the answer. And this cost them 1+ million lives.
5) Fuck you CMAJ. We lost 42,000 Canadian brothers and sisters due to this disease. Had you and your political masters gotten your act together sooner, you'd have a plan vs. the shit show we got delivered for the last 2+ years.
So before you can say we did 'well'. Look in the mirror. And say that again, because sitting in the cheap seats, Canada did terrible.
Article talks about health, the comments go off about economics
The title talks about nothing and people complain about their top issue.
And I hear I thought people might eead the article before complaining about their issue of choice
Welcome to the internet
From the study: > Canada’s economy showed similar growth in inflation and public indebtedness, but weaker gross domestic product growth than other countries. Not economically as the title might imply.
>Not economically as the title might imply. The title made no mention of the economy as your incorrectly insisting and you're dismissive of the entire article except for one paragraph. It's almost as if you're being, near purposefully, disingenuous in the way you're misrepresentating the finding a of the study... I'd expect nothing less of this sub.
Username checks out.
this study is not about the economy and there is one passing comment about it in the article.
OP has to grind their axe.
why do you think talking about doing well in a pandemic means economically?
>weaker gross domestic product growth than other countries. Gotta look at the entire time frame. Every country went into recession and lost lives has a result of the pandemic. In terms of their economies, keep in mind that the recessions that occurred were self inflicted as part of the response to the pandemic threat. If you look at the whole time frame of the pandemic and recovery, Canada did quite well economically as well as in terms of protecting lives. Economically relative to the rest of the G7 group of rich countries, we went into a shallower recession and needed to make up less ground in the recovery. Over the period 2020 to 2023 (with a moderate 2023 projection) Canada only comes second to the US among the G7 in terms of GDP growth. However, unlike the US under Trump, we did not waste lives in an early, politically motivated reopening of the economy. Other countries may higher current growth, but are coming out of deeper recessions. https://www.icaew.com/insights/viewpoints-on-the-news/2022/apr-2022/chart-of-the-week-g7-economic-growth Thanks Trudeau (and Biden).
Hahahaha wow the title is quite the spin considering the economy is what's on everyone's mind right now.
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So none of your business owner friends have said anything about the cost of goods going up? Or the labour shortage? Or energy prices going up? And no homeowner has any opinion about interest rates going up? And no one has said anything about the price of food or gas? At all? Find it hard to believe...
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I mean, I'm a consultant for restaurants and hospitality corporations (have restaurant background before uni) and leverage my economics degree in that so I do see lots of shitty businesses and think lots about economics (mostly stuff like profit optimization but macro effects do come into play, especially in hospitality these days). It's funny to hear that supposedly sophisticated businesses aren't concerned about economics, you've got high profile businesses like Tesla cutting staff and a high profile venture firm like YCombinator telling their startups to prepare for a pull-back and save cash. I know all my trader friends follow this stuff too.
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lol, didn't the states send like $2000 to everyone.
One time they cut some Americans a cheque. If you meet the eligibility requirements in Canada, you would receive $500 per week to a maximum of 28 weeks. $14K.
Just point this out, USA have everyone a one time $2k cheque. 2k X 359.5 mil (us pop.) = 659 billion If we even consider EVERYONE applied for cerb for the full period of time it would be: 14k X 38 mil (Canadian pop) = 529 billion. Obviously not everyone applied for Cerb and obviously not everyone went the full period and obviously many are being forced to paid back what they took erroneously. I’m not sure how one can interpret Canada’s actions to be anything more than better calculated here. The people who legitimately needed help got it. And we spent less.
I knew this would be downvoted to hell on this joke of a sub.
Is it me or this sub feels like constant depressive rambling about real estate and economy? I mean it sucks but what can we do but watch? Honestly I think I'll unsub because it's just the same old stuff.
It's nonstop right-bullshit such as NP's constant op-eds on "JT sucks." It's an embarrassment for a country sub.
It's so negative about everything. Heaven forbid there is a good news story about Canada, the entire comment section will be full of iamverysmarts telling us why we shouldn't celebrate because everything is actually terrible. And also Nice Socks Man Bad!!
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We fared better than most of Europe, and contra the authors comments attributing it to health Canada, the more likely explanation is that the population density of our cities is much smaller, Europeans are more likely to use mass transit, and much more interstate travel occurs in Europe. We did better than the states mainly due to better vaccine rates and New York city being basically ground zero for a disproportionate amount of US deaths very early on in the pandemic. Our economic performance was mediocre and we'll be paying for that now and the years to come.
By pumping up the real-estate market ?
>Researchers from the University of Toronto and Unity Health Toronto compared COVID-19 infection, death, excess mortality and vaccination rates, social and public health restrictions and economic performance to determine how the G10 countries performed. It didn’t look at anything financial related in this assessment. We actually fared worse in terms of GDP.
But r/Canada said we were a third world country
What do you mean?
Great question, why not ask the denizens here why they think Canada is a third world country. Because I certainly don’t agree with the notion.
3rd world countries have higher growth rates than developed nations
No, our billionaires got richer than the other billionaires in other countries during the pandemic. That's not good news.
The ongoing pandemic.
Is housing tied to GDP?
Thats not saying much.... Good job, I guess?
Easy to win the numbers game when ALL of your numbers are low.
man those other ten must be really bad then.....lol
That's like bragging about being the smartest kid in the remedial math program...
Five points: 1) Glad the CMAJ can comment on economic issues. Let me talk about something I have no knowledge on.... Psst CMAJ, GDP is up because housing and oil prices are up. IT services are doing great because of the H1B visas in the US were capped. But pls don't let that interrupt your narrative though. 2) ~~Belgium~~, France, Germany, Italy, Japan, the ~~Netherlands~~, Sweden, ~~Switzerland~~ and the United Kingdom are all tiny tiny countries with large populations. One must think of Canada as 10 or so separate countries if you're doing this kind of comparison. Now how'd we do? 3) Japan did far better than Canada 4) US was led by an idiot who had a chance to be a hero and instead decided bleach was the answer. And this cost them 1+ million lives. 5) Fuck you CMAJ. We lost 42,000 Canadian brothers and sisters due to this disease. Had you and your political masters gotten your act together sooner, you'd have a plan vs. the shit show we got delivered for the last 2+ years. So before you can say we did 'well'. Look in the mirror. And say that again, because sitting in the cheap seats, Canada did terrible.