Canada Is In Trouble - Dylan Smith
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- čas přidán 31. 05. 2024
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The fact that emigration to the US just hit a 10 year high says it all. According to StatsCan (assuming you believe what they say) 126k people packed up and left Canada for the US in 2022. I can only assume that number is higher in 2023. People are fed up with Trudeau and Freeland and the rest of the woke crowd.
Boom!
The taxation levels are far too high as well. The governments at all levels in Canada are bloated and enormous. Paying for all that is bankrupting the country.
@Vetal777 Who else could I speak for?
Yep, taxes are insane in Canada. Thank you for a great interview.
It's Jimmy Connor, thanks for the comment Annie and for the ongoing support! We are continuously being taxed on after tax dollars. Impossible to get ahead.
Canada is too woke!!!
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Canada is not perfect but it's still an amazing country!
Then you go broke
Wickedly woke. But in reality they are sleeping.
Yes, in Canada people are awake, not sleeping like the anti-woke. You’ve gone down the idiot US rabbit hole.
@@harpoen7358 Boom!
I was astonished to find out that immigration rate is thus far exceeding 100k + per month in 2024. This seems to put stagflation into play.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! It is complete insanity what this government is doing and the burden they are putting on the citizens of this country. So out of touch but then again what do you expect from someone who has no other experience then being a supply teacher.
The Canadian Government knows exactly what they are doing. They simply do not care about young Canadians.
@@zomgoose I don't think they care for Canadians, young or old. Their arrogance knows no bounds.
Probably because the BUDGET DID NOT BALANCE ITSELF!!
*FJT*
Thank You
It's Jimmy Connor, thanks for the comment and for taking the time to view our content!
Here is the latest in a desperate move to get more votes by our Federal Liberal Party, he is lowering to voting age to 16 and 17 year olds in hopes that his party will take the commanding lead in votes come election time, I call on all parents to educate their children and not to let them make this terrible mistake by voting for the Liberal Party because they will have no future.
Anything goes with the crooked corrupt liberals and their youtubr enablers.
Trying to do the same in Ireland too
@@catliath5384 you know I think that the power and control goes to their heads and they go to far in just about everything they do, except give a better quality of life for the people, isn't that why the people voted them in, in the first place ? I am not depending on the gov. for anything, you have to take care of yourself first, be your own bank, be your own food bank and be prepared for anything that they throw at you.
"Not enough nurses..".....well, Canada wants everyone to be retrained. I was a nurse. That costs money and is actually humiliating to start all over again. In the meantime one has to take some low job, pay high rent, and the weather...let's not even mention that.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! You raise many good points. Change is coming but not fast enough.
Toronto is a nice place to visit but I could never live there
It's Jimmy Connor, thanks for the comment John and for the ongoing support!
Why’d you even wanna visit canada ? Cn tower ? No thank you
@@Dailyrandomshortz I enjoyed living in Toronto in the 90's! but wouldn't waste my money visiting these days
I moved out in 1999 and I can tell you it's was different a complete nightmare to drive through
@@scottbuckley6578 I missed the bottom of the real estate market late 80's? too young I suppose but I left town before I could have cashed in anyways, hind sight
Wait for the Home Equity Tax and the Rain Tax
Great Video!
It's Jimmy Connor, thanks for the comment Kevin and for the ongoing support!
Too many Social Benefits are inhibiting Productivity
It's Jimmy Connor, thanks for the comment and 100% true!
Things I feel I must add, Canadians are Overworked and Underpaid, taking home only .43 cents on the dollar after all three levels of taxes are paid and now people have to contend with the new capital gains tax for investment or transfer there of at the 67% level up from 50%. That is just greed in my book and not fair to the people of this country, no incentive to work because the bulk of profit just goes to the gov. over 250 k.
So many great points Bruce! The big one is too many taxes!!! We are continuously being taxed on after tax dollars. So tough to get ahead.
@@BloorStreetCapital thx, as the dollar goes to zero in a hand basket and we switch to a digital currency which are just numbers on a screen that if the power goes off you do not have access to your funds. The whole country is screwed up now and the only way to survive in the future is to be your own bank, be your own food bank and be prepared for anything that may happen as we go from a recession into a major depression. I have had a good life, I talk to people that want to listen, but most would think not too because they're brainwashed by technology like cell phones and gov. promises. Even if the Liberals are voted out we are still behind the 8 ball because of all the damage that has been done and it will take years to fix if we have the right people running the country. As I see the homeless increase, I see a desperation in their faces, if they can't get what they want by begging or from the gov. what do you think they are going to do, steal their way to survival, they are doing it already in the grocery and dollar stores and nobody is stopping them not even the police. I could go on and on but whats the point in doing that, anyway you have something to talk about now don't you. And that is not only in this country, Europe and Russia is the big story unwinding, Russia has warned the States if they let Ukraine use US weapons it will be war, well guess what they are using harm missiles against Russian towns right now, so how do I think Russia will respond, they will first start taking out countries in Europe first to get the advantage and the States will do nothing about it because it will be a conventional war without Nuclear weapons, but at some point when its too late the US will have to get into it and that's when we have a 3rd world war with nuclear weapons, then I lease a jet and fly 1000 miles North and hope I will be safe flying 600 miles per hour, I can be there in less than two hours. This is what happens when you have gov's with too much power, its always the people that suffer.
@@bruce5895 Dont get me started about technology but yes we are all being manipulated by technology and social media.
@@BloorStreetCapital People don't know how to talk anymore, or even carry on a simple conversation, not even do basic math skills, sorry but they are brain dead now, a bunch of mindless sheep. And I thought teachers were bad in my day, when I went to school I had to fire my teacher because I told her in front of the whole class that I was smarter than she was, the whole class agreed, she freaked out and quit and that was that. Myself I only have one friend that I play tennis and chess with once a week who is University trained, owns 4 pharmacies and is still not up to my level, but he is learning to get up to my level because I am teaching him to do that because he has the mind capabilities to absorb the information that I give him during the week, every week. I told him if he wants to be like me, he has to have the capability to absorb 1000 bits of information in a week and know it all a week later. With that mind set, all you basically have to do is the practical because you already know the theory and information is knowledge and power at the same time that you can use to advance yourself to as high a level as you feel in life that you want to go, end of story.
@@BloorStreetCapital And lets not forgot the cost to the tax payer, they have to pay all the costs of 1 million coming into our country every year now and that means taxes going up more than usual every year now, when is enough enough with this gov. ? And the crime rate has gone up not too far from where I live making a lot of people feel unsafe these days, its turning into a real can of worms now and probably just going to get worse as more and more criminals come into our country.
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LOL Why would anyone invest in Canada ?
Boom!
We are having an election in 2025, after that alot of changes will be coming and we will be open for new business, right now we are closed
Who coulda' predicted that Zoolander would wreck the country even worse than his old man. Weird
t's Jimmy Connor, thanks for the comment! Never, never, never did I think a politician could be so bad.
@@BloorStreetCapital In reality they aren't politicians. They are employees in just another Service Corp. You must have access to Dunn & Bradstreet. Right? Every level of so called gov't has a D.U.N.S. number just like you with you Birth Certificate. Ever wonder what the Red CUSIP number is?
Is it that the Canadian government folded down in front of the banks and mortgage institutions in eliminating the fixed 20/30-yr mortgage in Canada?
US investor here. I love your big banks and insurance companies. Your 2.17 T of GDP funnels through 5 banks. Long all of them and your big 3 insurance.
Even though a withholding is taken off my dividends, it's a tax credit over here. Win win.
Btw, whatever people say, you DO have a great healthcare system. People down here go bankrupt over a large illness and medical costs/ private insurance for the individual are out of control.
It's Jimmy Connor, thanks for the US perspective! The Canadian banks have been good long term investments. One of the big issues with them though is that they try to grow by acquiring US assets and this doesn't always work out (BMO case in point). Out health care system is a big plus but it has many faults ie long and I mean long wait times. If you want to see a specialist you could be waiting many months or even years.
Canada’s BIG 5 banks profit very well and keep their shareholders happy! However a significant percentage of their profits derive from their mortgage book of business.
There’s a huge Mortgage Fraud problem especially in the GTA and Senior executives at the big banks are turning a blind eye to the rampant fraud. Upper level management definitely know these shenanigans are going on behind closed doors and ignoring it.
This ensures a healthy stock price and happy shareholders. Unlike the US where banks request 4506-T for income verification.
Canadian banks generally does not verify with CRA.
Google Brampton Uber driver buys million dollar home.
It took us 1 year to see a doctor for my daughter's cough. By then she got 3 other coughs and flu while we were waiting.
@@huskavarnaband yes this is so unfortunate but so typical.
We have THE WORST healthcare possibly in the world. A trip to the ER will take you approximately 8 - 12 hours & even then you won’t get any real answers.
Jimmy once you and your friends have identified all the faults of this gov. tell the people what they can do about it, vote the liberals out, what kind of assets to hold to hedge against the falling dollar that they say will be going to .50 US like metals, gold and silver and even copper. Stocking up on food everything people normally use before inflation drives prices too high, what they can do about high interest rates, find the solutions and talk about them thats what the people want to hear, they already know we have problems with this gov.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! The first step is for the people of Ontario and Quebec to wake up and realize the damage the Liberals' and NDP are doing because it is these two provinces that continue to put the Liberals' and NDP back into power. We need change and we need common sense people in government (maybe harder said then done).
@@BloorStreetCapital Well according to the latest polls the Conservatives have 43 % and the Liberals have 25% but there is a caveat to this, the liberals are going to be lowering the voting age to 16 years of age and 17 year olds will be able to vote, this is what he is hoping to get him in again, and thats why we have to continue to tell our youth that the liberal party will not be a good thing for their future if you choose to vote for them and don't be sucked in by free money if he offers which is supposed to be against the laws but he could find away around that he always does.
@@bruce5895 It's amazing what politicians will do to stay in power.
@@BloorStreetCapital Power Corrupts, Absolute Power Corrupts Absolutely.
No solutions if prices are high to be affordable.
I know what we need to do to change things to a more positive change in Canada -- we need to change the government, period????
We need a change but is any party up to the challenge? They are good at taking shots at the government which are well deserved. But will they do anything different if in office?
@@hereintoca4701 Well there is only one party who was elected with a minority government then worked a deal with NDP to stay in power an its the same party that wants to take away our freedoms, etc - could list more but you get the point - at least PP deserves a chance, and/or I'll take prem of ALB anytime , IMO
It's Jimmy Connor, thanks for the comment Gordon! I agree 100%! Hopefully, and I stress hopefully, a new government will enact real positive change.
@@gordpearson9802 Yep. I am with you. Keeping things as they are isn't an option. People appear to be realizing that but the election is a long ways off yet.
GDP in the US is only being propt up by war spending. If it wasn't for that the GDP would be negative.
It's Jimmy Connor, thanks for the comment Bob! The Canadian government is also spending/wasting billions but to no avail. As Dylan mentioned, labor productivity has been declining for 10 years which is shocking. The US is not perfect by any means but it does have many vibrant sectors which help drive the economy and the markets. Canada has what the world needs ie. oil, gas, potash, uranium, copper and so much more but our government refuses to allow these sectors to flourish.
Bingo, they are adding 1 trillion to their economy, in the name of fiscal stimulus, about every 90-100 days. Great comment!
Excellent discussion
It's Jimmy Connor, thanks for your comment Pete and for taking the time to view our content!
Mr Friedman once stated...."socialism is great ,until you run out of other peoples money"....Canada is the only country in history to be "led" by TWO socialists!Once tru doh/singh are punted there will never be another communistic party to EVER lead this great country again.....Thanks for the reporting
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! You really hit the nail on the head...we are the only country in the world to be led by 2 Socialist parties but what is even more shocking is that Canadians don't even realize this. If they did theses 2 parties would not be in power.
Actually, it was Margret Thatcher that said it.
I hope you are right. I am thinking of leaving the country for a better standard of living. Pierre won't stop mass immigration. He has great ideas though on improving the economy but will take time.
Economic investigator Frank G Melbourne Australia is following this content cheers Frank 😅
It's Jimmy Connor, thanks for the comment Frank and for taking the time to view our content!
If Canadian dollar crashes due to economy it will make Canadian housing cheaper for overseas money, no hope for buyers hoping for a correction
It's Jimmy Connor, thanks for the comment Matt and for taking the time to view out content!
You can get a 7 and 10 year mortgage in Canada
5 year max
Smith should research Harpers record
Thanks for this information!
New subscriber.
It's Jimmy Connor, thanks for the comment Ray and for taking the time to view our content! Who else would you like to see on the channel?
Capital Gains Tax is a Direct Tax on Inflation or the destruction and devaluation of the Fraudulent currency!
t's Jimmy Connor, thanks for the comment Jack! It is impossible to get ahead in this country because of the egregious taxes.
@@BloorStreetCapital you said it and it was an excellent interview. Thank you for that. My heart breaks knowing that none of my children have the same opportunities that were available to me 40 plus years ago. It is a pivotal time in history
@@jackmann8064 Yes agreed but it is imperative we encourage our children to keep fighting for better and fighting for change.
Falling of a woke cliff ... more like it. Punt the recession , it is a depression.
Boom!
I work in a Hardware store just North of Toronto and sales are BOOMING, at a near all-time high for us right now. I don't see the Canadian economy in trouble when everyone is spending so much.
I work and lend to trucking. I see things 9 to 12 months out. Get ready for a shock
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! This is the type of commentary I like to see from viewers because it gives you a sense of how other people view the economy first hand. Thanks again!
Credit is a wonderful thing until the cards get maxed out
CANADA IS FINISHED 👎🇨🇦👎
but the majority of home owners do not have a mortgage...
What people never mention is the the US economy has 3 to 4 Trillion dollars of deficit federal spending, plus state deficit spending dumped into it by governments. Of course the US economy is doing well with all the money being spent. As to US productivity is only amount in sectors such as tech. Farming and transport has declined.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Biden has done a great job keeping the economy growing by massive spending but at some point you have to pay the piper.
@@BloorStreetCapital so true...that is why I believe Canada is not as bad as people think...the one thing that concerns me is the 2 to 3 Trillion in mortgages, especially commerical mortgages. As we know that money is not created by the government, but by the banks.
@@TheAmorchef I will have to do more book on the mortgages but if GDP per capita is declining then growth is declining and it does not bode well. If the US goes into recession then we are in for a world of hurt.
@@BloorStreetCapital I think one thing not being discussed about low GDP and Productivity is that Baby Boomers like myself are not contributing much to these economic measurements; a growing segment of the population. We invest is safe returns not investing in riskier ventures, we collect pensions such as: OAS, CPP and GIS, we use 80% of the health care and we spend less. We are takers, not givers. I think this whole low productivity argument needs a rethink as to its cause. Just blaming government policies is not the whole question. Even with a change in government, I do not these issues disappearing in any time. I think this is what some call The Forth Turning...but I am not an economist, gave up reading star charts and the entrails of the goat long ago...lol
@@TheAmorchef Fair points and no things will not change. These issues are here for a very long time.
Why do we care about it?
Well if you can't pay your rent and you lose your job, your out on the streets homeless, thats a situation that a lot of people are facing right now and they are stressed out about it, winters are cold in Canada. I guess if your rich and happy you don't really have to care about your situation but if your poor as a church mouse and have no money and no place to stay, you have to care because your health may depend on it.
@@bruce5895 well, you guys need a president, small government and a free market! You might prosper then! No need to depend from British colony! It does nothing good!
@@povarful thanks but no thanks the less gov. I have in my life the better off I will be, they ruin the economy, devalue the currency, tax us too much, interest rates too high causing inflation, too much immigration, too much WEF policies taking away our wealth, rights, freedoms and quality of life. People here are moving out of Canada in droves, does that should tell you something. And there is no more British Colony as you call it, because we have our own gov. and they make the laws not the Uk gov. and that happened in 1982 when the Canada Act was passed.
But the BOC is saying Canadian economy is good and dodged recession who to believe?
It's Jimmy Connor, thanks for the comment/question! Keep in mind the BOC and the Fed are just extensions of the government. Yes they are suppose to be apolitical but they are not. In addition, they want to convey the impression that they have everything under control so they look good and can keep their jobs.
A percentage of the people that have jobs say that the income is not enough to keep up with the cost of living, so when you can't pay the bills with your wages something is wrong and I blame gov. taxes, their too greedy