There's a lot to like in the latest economic data for Canada

[mentalfloss]

There's a lot to like in the latest economic data, as Poloz considers his next move

Statistics Canada reported March 2 that gross domestic product grew three per cent in 2017, the most since 2011 and double the previous year’s mark.

Canada has been on a hiring binge for more than a year, but employers were reluctant to boost salaries. That’s starting to change. StatCan’s latest GDP figures show companies’ expenditures on what they pay their employees rose 4.9 per cent in the fourth quarter from a year earlier, the biggest increase since 2011.

The Bank of Canada prefers its own composite measure of various pay indicators, but as Toronto-Dominion Bank economist Brian DePratto noted, the “wages and salaries” tally from the quarterly GDP report has the biggest influence on the Bank of Canada’s wage indicator. The economy is nearing full employment, if it isn’t there already, and that’s forcing employers to pay more to get the workers they need to keep up with demand.

Another key for Poloz is business investment.

That dial was disconcertingly dead in 2015 and 2016, as the collapse of oil prices prompted companies to bail on plans to develop new bitumen projects. Finally, ultra-low interest rates and stronger global economic growth stirred the animal spirits of Canadian executives last year. Business investment increased 2.3 per cent over the final three months of 2017, the biggest quarterly gain since 2012. Spending on machinery and equipment jumped three per cent, a decent move by historical standards, suggesting that companies are retooling to take advantage of the strongest global economic growth since the initial rebound from the Great Recession.

There’s a lot to like in the latest economic data, as Poloz considers his next move | Financial Post

 

[Walter]

When the US does well so does Canada. Thanks, Trump.

 

[mentalfloss]

Except for the fact that our GDP growth was higher, unemployment lower and debt to GDP ratio better.

Thanks Trudeau.

 

[DaSleeper]

Except for the fact that our GDP growth was higher, unemployment lower and debt to GDP ratio better.

Thanks Trudeau.

More bullshit from the bullshit king..
Canada unemployment rate................................................5.7%

U.S. unemployment rate......................................................4.1%
Look it up....

 

[White_Unifier]

There's a lot to like in the latest economic data, as Poloz considers his next move

Statistics Canada reported March 2 that gross domestic product grew three per cent in 2017, the most since 2011 and double the previous year’s mark.

Canada has been on a hiring binge for more than a year, but employers were reluctant to boost salaries. That’s starting to change. StatCan’s latest GDP figures show companies’ expenditures on what they pay their employees rose 4.9 per cent in the fourth quarter from a year earlier, the biggest increase since 2011.

The Bank of Canada prefers its own composite measure of various pay indicators, but as Toronto-Dominion Bank economist Brian DePratto noted, the “wages and salaries” tally from the quarterly GDP report has the biggest influence on the Bank of Canada’s wage indicator. The economy is nearing full employment, if it isn’t there already, and that’s forcing employers to pay more to get the workers they need to keep up with demand.

Another key for Poloz is business investment.

That dial was disconcertingly dead in 2015 and 2016, as the collapse of oil prices prompted companies to bail on plans to develop new bitumen projects. Finally, ultra-low interest rates and stronger global economic growth stirred the animal spirits of Canadian executives last year. Business investment increased 2.3 per cent over the final three months of 2017, the biggest quarterly gain since 2012. Spending on machinery and equipment jumped three per cent, a decent move by historical standards, suggesting that companies are retooling to take advantage of the strongest global economic growth since the initial rebound from the Great Recession.

There’s a lot to like in the latest economic data, as Poloz considers his next move | Financial Post

It's unsustainable: it's all debt-induced.

 

[Cannuck]

Just like the US

 

[White_Unifier]

Just like the US

True enough. However, that's all the more reason for Canada to brace for impact and not spend like a drunken sailor. When the US economy collapses and Canada's indebted to the max, what wiggle room will be left for us?

The fact that the US is spending like there's no tomorrow is a good reason for Canada to prepare for a rainy day and to just ride on the US' coattails.

 

[Cannuck]

Who are we going to elect to do that though. As long as the social conservatives are in control of the Conservatives, there's not much hope for fiscal responsibility. You only have to look south for all the proof you need

 

[White_Unifier]

Who are we going to elect to do that though. As long as the social conservatives are in control of the Conservatives, there's not much hope for fiscal responsibility. You only have to look south for all the proof you need

I agree. Harper racked up debt too. Mulcair promised to balance the books, but he never came to power so we can only speculate. Even then though, if his intent was to raise taxes to do so, then what about consumer debt?

We need a new party. I was wondering, what about the Party for the International Covenant on Civil and Political Rights (PICCPR).

To satisfy the left, it would campaign on living up to the provisions of the ICCPR. To satisfy the right, it would interpret the ICCPR as narrowly as is reasonably possible. If Hong Kong has managed it with low taxes and fiscal responsibility while still ensuring that everyone's basic human rights (and not necessarily entitlements) are respected, why not Canada?

On second thought, why not just do like Nunavut and have every candidate run as an independent?

 

[Cannuck]

Both the fringe left nor the fringe right will ever be satisfied until the government is strong enough to enact either of their agenda. We need to stop listening to wingnuts. We need another socially liberal, fiscally conservative party or leader. Another, Klein or Martin would do nicely.

 

[White_Unifier]

Both the fringe left nor the fringe right will ever be satisfied until the government is strong enough to enact either of their agenda. We need to stop listening to wingnuts. We need another socially liberal, fiscally conservative party or leader. Another, Klein or Martin would do nicely.

Perhaps. What if we modified the Constitution so that no government could reduce overall revenue (taxes, royalties, fees, fines, etc.) or increase overall expenditure without a 2/3 majority vote? I don't know how that would work, but just a thought I'm throwing out there.

Another thing. I'm not saying don't help the poor, but I do think we need to help the poor more wisely, especially when we're dealing with mental health. For example, do we help a poor gambling addict by just giving him more money? What do you think he'll do with that money? I'm not saying don't help him, but let's plug the hole at the bottom before we waste time dumping water out of the boat. For example, we might create a national self-exclusion list for casinos, require casinos to identify each person entering, and deny anyone on the self-exclusion list. Any person applying for social assistance should be required to put himself on the self-exclusion list before he can apply for social assistance. We might extend this list to any business that sells alcohol, tobacco, lottery tickets, and even massages. Unless a person puts himself on the national self-exclusion list, he can't apply for social assistance, and no business should be allowed to sell these products or services to someone on the list.

 

[Twin_Moose]

Who will be able to weather the political storm from the backlash that will occur when someone grows a set to cut spending to the bone to turn this all around?

Just as it would start showing some real results they will be voted out because they won't be doing enough for the special interest groups.

 

[White_Unifier]

Who will be able to weather the political storm from the backlash that will occur when someone grows a set to cut spending to the bone to turn this all around?

Just as it would start showing some real results they will be voted out because they won't be doing enough for the special interest groups.

Think of an addict. He often needs to hit a bottom of some sort before he turns his life around. Maybe Canada does need to suffer bankruptcy before we become a better country, unfortunately.

 

[Cannuck]

Who will be able to weather the political storm from the backlash that will occur when someone grows a set to cut spending to the bone to turn this all around?

Just as it would start showing some real results they will be voted out because they won't be doing enough for the special interest groups.

Didn't happen to Ralph. Martin would have easily been re-elected had it not been for Liberal party shenanigans (the same thing that eventually sank the Alberta PCs). Canadians are generally socially liberal and fiscally conservative. That's why Ralph was wildly popular with the average guy but hated by special interest

 

[Twin_Moose]

Didn't happen to Ralph. Martin would have easily been re-elected had it not been for Liberal party shenanigans (the same thing that eventually sank the Alberta PCs). Canadians are generally socially liberal and fiscally conservative. That's why Ralph was wildly popular with the average guy but hated by special interest

I agree with you on that and same as Wall to an extent, but could you see the East or B.C. sticking with this long enough to make a difference.

 

[Cannuck]

I agree with you on that and same as Wall to an extent, but could you see the East or B.C. sticking with this long enough to make a difference.

Maybe not provincially, as long as the gravy train exists. Certainly, federally. It already has under Chretien/Martin. Fix the problems federally and the provinces will follow if they haven't led

 

[White_Unifier]

I think one problem is the left wants to help the poor while the right wants to balance the budget. Or at least that is the rhetoric on each side. A party that can address both issues at the same time should be able to win the vote. That said, it will probably need to think outside of the box, focus on promoting efficiency, and sometimes adopt tough-love approaches to helping the poor while still helping the poor.

 

[Cannuck]

I think one problem is the left wants to help the poor while the right wants to balance the budget.

Wrong

 

[White_Unifier]

Wrong

Like I said, I was referring to their rhetoric, not what they actually do.

 

[Twin_Moose]

Maybe not provincially, as long as the gravy train exists. Certainly, federally. It already has under Chretien/Martin. Fix the problems federally and the provinces will follow if they haven't led

That is a good example of one and done, Chretien cut to deep for the left and didn't remove the g.s.t. for the central right like he promised. Martin didn't really do anything that he promised but didn't really hurt anything either.