Quote:
Originally Posted by Truenorth00
Economic complexity has tanked and GDP per capita has stagnated. I agree. But I'm not sure that actually constitutes and a terrible economy in absolute terms. It's an economy storing up trouble for the future to be sure.
Also, not all of this can be blamed on Trudeau. A lot of that deindustrialization and drop in economic complexity happened on Chretien, Martin and Harper's watch.
Trudeau gets the blame for trying to prop up real estate at all costs, leading to stagnant productivity and lower GDP per capita.
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I think Trudeau made at least 4 serious mistakes on the economy.
1) Running large deficits when the economy was fine, just to pay for new programs. If it was for infrastructure maybe I could buy it as a reasonable economic strategy.
2) CERB - Might have been the worst designed program in history. It paid people at the lower end of the income spectrum more than their lost wages, which encouraged people to leave the workforce and contributed to the future labour shortage.
3). Keeping pandemic everything way too long. Pandemic everything should have wrapped up when vaccines were available in the summer of 2021. Keeping restrictions and funding in place until late 2022 pushed the economy into further imbalance.
4). The massive increase in immigration and international students broke the economy. It will take decades to recover.