👉Canadian Economy Enters The Deepest Recession On Record !!

👉Canadian Economy Enters The Deepest Recession On Record !!








Canadian Economy Enters The Deepest Recession On Record !! This past month it felt like a lifetime. It has reshaped our lives and our economy in ways we can't even begin to measure yet. The Canadian economy, in particular, was hit hard. You need to look no further than your local Main Street to see how hard Canada has been hit. The Canadian economy has shut down.; the data is just catching up. The Canadian GDP will fall by 10 percent this year. By way of contrast, it fell just one percent during the 2008 financial crisis. That would make Canada the hardest-hit developed economy in the world. The economic activity will fall a staggering 6.2 percent, even the Bank of Canada isn't sure what happens next. The lockdown has clobbered just about every sector but especially those that employ lower-income Canadians. And the longer it goes, the harder it will be to rebound. The economy contracted sharply last month and lost a record of 1.01 million jobs. A third of Canadian businesses may see revenues drop by 40 percent a report says. One in five businesses has laid off 80 percent of their workforces. Forty percent of the restaurants have closed permanently. 800,000 Canadian Restaurant Workers Are Now Out Of Work. 50 Percent of Independent Restaurants in Canada Fear Bankruptcy. More than a million Canadians believe they are on the verge of bankruptcy. One million jobs lost in March alone. The Canadian economy is likely in its deepest recession on record and will only recover modestly over the coming year as it takes a direct hit from the coronavirus outbreak and a collapse in oil prices. Canada is in the midst of a historic economic contraction. The economy has largely shut down, paralyzed by measures to contain the coronavirus pandemic, free-falling financial markets, plunging oil prices, and plummeting confidence. As Prime Minister Pierre Trudeau (father of current PM) once said, “When the United States gets the sniffles, Canada catches a cold.” The USA is Canada’s major trading partners. A falling in demand for Canadian products in the USA, which would happen during a recession in the USA, could lead to a decrease in production in Canada. Also, it could affect the economic confidence of investors in Canada, whose companies would be adversely affected by an American recession. Twenty percent of Canada’s economy is exporting goods and services to the US. Less demand from the US would mean less demand for the goods and services produced in Canada, leading to a slowing of Canada’s economy. Just for a sense of scale, Canada ships more goods and services to just Michigan (one state in the USA) than it does to all of Europe. The Canadian economy has three disadvantages. One of them is that the consumers entered this COVID period fundamentally weak. Canadians are quite indebted. The debt to income ratio stands at a hundred and eighty percent. Now just to put that in perspective, the US had a debt to income ratio of one hundred and sixty-five percent going into the global financial crisis. The American rate is now down to a hundred and forty percent. Canada has the second-highest indebted private sector in the world after Australia. The Canadian big five are finished when the Asian slum lords start fleeing to the US, Europe, or back to their own countries. This debt puts Canada in a position of fundamental weakness. Canada also got a gigantic housing bubble going on. There are other disadvantages and weaknesses, though; one is that Canada is a very trade-dependent nation. And global trade is arrested at the moment. It really comes to very much of a standstill in most industries. And finally and most importantly, Canada is very oil and gas-dependent. The oil and gas industry is not going to see a huge rebound coming out of this; that's because there's just too much world supply right now even with the demand recovery, supply is going to be compromised. The current oversupply will last months, not weeks. Landlocked Canadian oil producers - who don't have easy access to expandable tanker storage - are now paying their customers to take the oil off their hands! Canadian Tars Sands (and US shale) oil is being made uneconomic by the lower-cost producers in the rest of the world. This could possibly bankrupt Canada. Thirty-five million people and oil and gas is 10% of the GDP. The other 90% are on lockdown. Thousands of jobs will be lost in the energy sector. All the zombie Canadian tar producers can now "sell" their oil at minus $8.00 per barrel and then ask for government and central bank loans at negative interest rates to balance out their losses. Trudeau killed the Canadian oil industry, failed to transition the economy to something new, and is now bailing out oil executives while hundreds of thousands more will lose their income. EU and US economies are much stronger because their markets are much bigger. Canada is isolated, but maybe China will come to the rescue. That might become a problem for the US if China were to accumulate Canadian infrastructure and assets on the cheap. Canada has many crude oil deposits. Canada has one of the best light sweet crude deposits in the world - in northern Saskatchewan, though it has been pledged to the Chinese. So those three things mean that Canada has been hit especially hard as we come into the COVID period. Canada is certainly not alone in this predicament. Every single nation on planet Earth is “headed for a recession.” Recessions are a normal and expected part of the economic cycle. Some countries do a decent job of buying their way out of a recession (skipping it or lessening it) like Australia or China. But even then, that only delays the inevitable. Because Canada’s economy is tied so tightly with the US economy, generally, they both enter and leave a recession at about the same time. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Even before the crisis, Canada was in economic trouble; growth was minimal, investment was fleeing Canada, and there was the perception that nothing could be built in this country, consumer debt was sky high, and the federal government was mired in both debt and deficits. And that was supposedly in the good times. It will be quite a while before the country returns to strong economic times again. Many businesses, in particular small businesses, will never return, and for the many that do, it will be a struggle. Much of the growth was consumer-driven, and many of those consumers are tapped out and without a job. Real estate was a significant driver, but without a job, it will be difficult to get a mortgage. Rather, I suspect for many, and there will now be a renewed emphasis on saving. Justin was warned time and time again to stop spending like a drunk. But nope he kept spending on god knows what. He added $140 billion to the national debt during a non-recession time. Canada was not prepared, and he needs to be held accountable, bottom line. It wasn't sexy or politically expedient to make the necessary expenditures to be pandemic ready. The buck stops with him. Instead, he is throwing 100 times the money at putting out the fire when fire insurance was the cheaper alternative. He is doing his daily walkouts to announce more free money, which is nothing but vote-buying. After Canadians pass-through this ugly virus crisis, many will have indeed lost virtually everything. Canadian society never really advocated a system of real saving. Also, the banks who take a piece of every dollar the Canadians spend have been the very institutions that talk big about saving and yet charge usurious levels of interest on credit cards that they advertise through media. Credit has been made too easy through banks. Governments promote easy credit to boost consumerism. They receive taxes from the spending. Even the governments admit through reports that the media prints, that the Canadians are a paycheck away from disaster. So it is imperative that changes are made to ensure that if Canadians can't resist the blandishments of easy credit, restrictions on banks may be the only way. The amount that the collective governments are spending money to house and feed Canadians will never be repaid. If they collectively had put some money into real savings instead of interest payments may have been prudent. If this pandemic goes on for another year or year and a half, most Canadians will be broke. This is a sad reflection on our society where every business pushes credit, and the youth have been brought up to get what they want right now. Even our governments live for today on our grandchildren's backs. This may be the game-changer thou. Hard lessons will be learned. Will older people be happy that they were saved from the Pandemic to live out their final years in a new Great Depression? Will younger people ever forgive the huge setback in their lives? Will creditors be surprised when unpayable debts don't get paid? Like the Great Depression, this will be a time of leveling, when the inflated values of assets evaporate, and the economy slowly rebuilds by creating real value. The liberal is better at spending government money..”...You see, that’s the problem with liberals. They think it’s their money when it’s really taxpayer money. In the oddest of marriages. The brainwashed Canadian Greens have formed a union with foreign energy companies fronting astroturf environmental groups. The end result is the glee at landlocking Canadian oil by limiting pipeline development and purchasing oil from Saudi Arabia. It's a hybrid form of an enigma wrapped in Stockholm Syndrome with a dash of Manchurian Candidate. In other Canadian news, The Liberal government will table measures to disarm the Canadian populace so inner-city gang violence can increase without encumbrance. At what will the gangs stop pointing their guns at each other and direct them at an unarmed populace? Canadians better start burying your meat cleavers and chef's knives before a permit to possess them is required. In other news, prime minister Trudeau is in no hurry to restart the Canadian parliament. He much prefers answering AIA (Approved in Advance) questions from a captured media. He finds parliament difficult when the MEAN, Dangerous, and unhinged (extremist ) opposition parties ask spontaneous questions that were not given to him in advance. It's as though they are trying to make him look bad! You know who runs your country or where you POWER RANKING is when the leaders sell all your Precious Metals. Canada's Gold Reserves was reported at 0.000 USD mn in Mar 2020. This stayed constant from the previous number of 0.000 USD mn for Feb 2020. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy, friends!







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