Another attempt by imperialists to shift attention from their wealth hoarding by scapegoating immigrants who are the real value creators: they pay taxes to sustain public services, but also benefit the rich with good value labor. Rest of the population would complain: oh, no! immigrants now are lowering the bar for life quality, while in fact they aren’t the real enemy. Hopefully people would see right through it.
The Canadian economy experienced a contraction “unprecedented outside a recession,” according to a new analysis from National Bank Financial, a trend driven, at least in part, by a population spike that has squeezed per capita GDP growth.
The bank’s monthly economic analysis says that “signs of an economic slowdown have been multiplying.”
“Consumption stagnated for the second quarter in a row, a stinging setback in the current demographic context characterized by record population increases,” the report says.
The recalculated GDP per capita — which the bank’s economists had estimated had contracted by 2.4 per cent — now sits, they say, at a 4.4 per cent contraction during the third quarter.
The report also finds that while Canada’s inflation rate is at 3.1 per cent, costs for shelter are growing at six per cent annually.
The first nine months of 2023 saw the single fastest population growth since Confederation. Around one million people joined the Canadian population in that time, exceeding growth in 2022, already a record year for population growth. Since July 1, 430,635 people have come to call Canada home.
Less consumerim and lower GDP is the way: living a happy life with the advent of technology should theoratically allow us to work 1 day per week and dedicate the rest of the week to be spend with family and pursuing personal interests, all while having reliable public services like health and transport, while maintaining an ecological lifestyle so the offspring could inherit a healthy habitat. People need to unite to make this a reality, because we are weak when we are divided. We don’t need flying cars nor Mars to be populated, a sustainable future is easily achievable for the bottom 80%.
How does that even make any sense, increasing population should lead to more economic spending as that greater population sustains itself.
What kind of economist phooey is this
Liberal economics
They can only plan three months ahead and must maximize profits in the short term before all else. It makes it impossible to leverage a population influx to invest in long term industry and infrastructure development.
It depends how and what you are measuring.
This article is measuring GDP per capita, which roughly indicates average productivity. Imagine you have 100 people making on average 1000$ a week. Now add 20 more people making 100$ per week ('cause the only jobs they can find are cleaning toilets) suddenly you have 120 people now making an average of (1000x100+20x100)/120 = 850$ per week.
So yeah, the average productivity went down. Obviously it’s a problem if those new people can only find toilet scrubbing jobs. And that’s exactly the kind of story that a decrease in macroeconomic performance that a measure like GDP per capita is telling.