Canadians didn’t think the EU-US-NATO rot would touch them. However, they were wrong. They themselves put a huge amount of blame on the neoliberalism of Prime Minister Justin Trudeau, who started as a “fresh young man” and ended up being the citizens’ nightmare. In particular, having learned well in an impeccable state that operates on merit, the citizens of the country feel the word “uncertainty” for the first time.
It’s not just the significantly lower purchasing power, the strikes/protests that have taken place, the discontent. Trudeau has normalized political correctness, taking away the freedom of speech the country has been proud of for decades.
Canada’s standard of living is on track for its worst decline in 40 years. The Fraser Institute’s research (“Canada living standards falling behind rest of developed world“) compared the three worst periods of decline in Canada in the last 40 years:
- the recession of 1989,
- the global financial crisis of 2008 and
- the current post-pandemic era.
It found that, unlike previous recessions, Canada is not recovering this time. In fact, as of 2019 Canada had the worst growth of 50 advanced economies, while inflation-adjusted wages in Canada have been flat since 2016.
At the same time, Canada’s real GDP per capita is still falling, and with a looming US recession – the US accounts for 75% of exports – Canada could collapse again before it even recovers.
- Incomes are at the West Virginia level.
- Home prices are at the Los Angeles level.
- It is not uncommon for a middle class family in Canada to pay half of their income in taxes.
- Since the pandemic, Canada’s official food inflation has risen by a cumulative 25% and energy by 30% – thanks in part to the carbon tax.
- The cost of living has risen noticeably.
- Corporate bankruptcy filings increased by 40% in 2023.
- Half of Canadians have zero savings for a hard time.
- Canada’s violent crime rate has increased by 40% since 2014.
- 42% of Canadians are considering moving to another country.
