Canadian Economy Contracting Amid Historic Immigration From Third World
Canada, our neighbor to the north, has a massive and growing immigrant population, with the majority coming from Third World countries.
Is this beneficial for Canada?
The National Post recently published an article by Tyler Dawson entitled, “Canada’s high immigration is driving down per-capita GDP: report.”
From the article:
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.
More on that population increase later…
The recalculated GDP per capita…now sits, they say, at a 4.4 per cent contraction during the third quarter.
Mikel Skuterud, an economist at the University of Waterloo, said the simple way to understand it is to think of the GDP as a pie, divided by the population, and the per capita GDP is the slice of pie, theoretically, that every Canadian gets. And so, in theory, if the number of people taking chunks from the same pie goes up, the size of the slice goes down.
A higher GDP coupled with a growing population doesn’t mean individual Canadians are getting richer.
Look at Luxembourg in Europe. Its population is under 700,000 but its per capita GDP is over $140,000, the highest in the world.
“I think you’d be hard-pressed to find any economist in Canada that doesn’t believe that the exceptionally high population growth rates we’re experiencing now have contributed to that decline in GDP per capita that we’re seeing,” Skuterud said.
Housing costs are growing in Canada.
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. Indeed, many Canadian cities have seen big increases in rental house pricing. In Calgary, the average one-bedroom apartment increased by 17.2 per cent between 2022 and 2023.
“While the central bank is responsible for the increase in mortgage interest costs for homeowners, the rise in rental prices is attributable to the staggering increase in population,” it says.
How about employment?
The report says that Canada’s unemployment rate of 5.8 per cent shows that “hiring is not keeping pace with demographic growth.” In just seven months, the bank says, the unemployment rate grew by ten-eighths of a per cent.
So they’re bringing more people in but the unemployment rate is growing?
For five straight quarters, Canada’s GDP per capita has fallen. This metric is used to measure living standards.
“Unfortunately for Canadians, little turnaround in Canadian living standards appears to be on the horizon,” says a TD Bank report from July.
What’s the historical context?
The first nine months of 2023 saw the single fastest population growth since Confederation [in 1867]. Around one million people joined the Canadian population in that time, exceeding growth in 2022, already a record year for population growth.
Check this out:
Since July 1, 430,635 people have come to call Canada home. Just four per cent of that figure was due to newborn babies.
It sounds like the Canadian Great Replacement.
Of course, there is disagreement over this issue. The article says, “There’s some debate among economists about the extent to which population growth can be blamed for the contracting economy.”
Skuterud, the economist quoted above, says that over the long haul, immigration neither increases nor decreases GDP per capita. Well, maybe, if productivity increases.
But if it’s not increasing GDP per capita, then what’s the point? Canada is transforming itself for nothing.
Skuterud philosophizes that “some people are going to win, they’re going to benefit from increased immigration, while others are going to lose and so there are important changes in welfare within the population. And I feel like we’re not talking enough about that.”
Losers and winners from mass immigration?
How about the historic Canadian nation – how does it benefit from mass immigration?
Is the cult of sports killing America?
Israel Expects Another Year of War Against Hamas – Media
Fighting between Israel and Hamas militants in Gaza could carry on for another year and possibly longer, Prime Minister Benjamin Netanyahu has reportedly told local council chiefs from communities near the Palestinian enclave, according to the Times of Israel, citing a local TV report.
During the meeting, which is said to have been held at the Israel Defense Forces (IDF) headquarters in Beersheba and was also attended by other security cabinet ministers, Netanyahu reportedly told the council chiefs that the war against Hamas was expected to continue into 2025.
The prime minister also agreed to revise a defense ministry framework aimed at assisting and encouraging Israeli residents to return to their communities within several kilometers of the Gaza border.
Many of the people living near Gaza fled the region following the October 7 Hamas attack, which left some 1,200 people dead and saw the capture of more than 200 hostages. Local community leaders have reportedly told Netanyahu that most of the residents who left these territories have no desire to return to their homes at this point due to the ongoing fighting between the IDF and Hamas.
According to the TV report, the council chiefs asked Netanyahu to delay the process of returning people to their homes near Gaza until the summer and have also requested that the state continue funding their stay in temporary accommodation until then. Netanyahu accepted the request and instructed relevant officials to make the necessary arrangements.
Meanwhile, the IDF has continued its relentless assault on the Gaza enclave, with Israel vowing to continue the operation until Hamas is completely destroyed and all hostages captured by the Palestinian militants are freed. There are still an estimated 132 people being held captive in Gaza, according to Israeli authorities.
Netanyahu has also recently said that Israel’s main goal is to “demilitarize and deradicalize” the enclave. At the same time, he stressed that Israel has no plans to permanently occupy the enclave or displace its civilian population, adding that the IDF was doing its “utmost” to avoid civilian deaths.
The Israeli strikes on the enclave have so far resulted in more than 23,000 casualties, according to Gaza health officials. The UN has declared Israel’s siege of the enclave a humanitarian catastrophe, while other countries have accused Israel of committing genocide. South Africa has even filed a lawsuit against the country for committing “engaging in genocidal acts” to the UN court.
Israeli President Isaac Herzog has vehemently dismissed the genocide accusations, calling them “atrocious and preposterous.” He insisted it was Hamas that should be blamed for the civilian deaths after allegedly using people as human shields.
Is the cult of sports killing America?
US, UK Form New Partnership to ‘Fight Biological Threats’
The United Kingdom and the United States are launching a new partnership to join forces in countering biological threats under the “One Health” principle that also covers cooperation for the development of vaccines, the UK government has announced.
“The UK has taken a critical step forward in protecting the nation from increased biological threats today (Tuesday 16 January), as it announces a new Strategic Dialogue on Biological Security with the United States,” the government said in a statement late on Tuesday.
The deal is prompted by both countries’ shared goal to confront “a growing and diverse spectrum of biological threats,” including “future pandemics, antimicrobial resistance, a deliberate attack, as well as those that might arise from misuse of biotechnology.
Built on the economic cooperation commitments made by the UK and the US under a June 2023 declaration, the new partnership covers harmonization of approaches to research and bio surveillance. One of the commitments, in particular, is to “facilitate the development of next-generation vaccines and therapeutics,” the statement read.
UK Deputy Prime Minister Oliver Dowden additionally announced a 2 million pounds ($2.52 million) increase in funding for a local disease research project that “uses genetic sequencing to detect pathogens and improve patient outcomes while providing crucial data sources to support surveillance of new and emerging diseases,” as part of efforts to reinforce the UK’s biosecurity.
Earlier, the head of Russia’s Radiological, Chemical and Biological Defense Forces (RCBD), Igor Kirillov, said that the US government was actively seeking new sources of funding for military biological research from leading American “philanthropic” institutions, including the Clinton, Soros, Rockefeller and Biden foundations.
Is the cult of sports killing America?
Bill Gates Says Next-Gen Covid Vaccines Will Use ‘Little Patches’ So You Won’t Even Know You Were Vaccinated
Unelected world health czar Bill Gates announced that next generation Covid vaccines will use “little patches” instead of needles for ease of vaccination and will have “longer duration and more coverage.” “We’ll have a TB […]
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Wednesday LIVE: Biden Admin Warns Texas Has Until TODAY to Allow Feds Back Into Eagle Pass, Threatens to Take “Appropriate Action”
Watch & share today’s edition of The American Journal that’s live every weekday from 8-11 am CST:
UPDATE: Feds say Texas has until tomorrow to restore access to Shelby Park in Eagle Pass using the drowning deaths of 3 illegals as an excuse. What about the 100,000 dead Americans per year to fentanyl?!
HOLD THE LINE TEXAS. pic.twitter.com/OL4vvqh5FA— Charlie Kirk (@charliekirk11) January 16, 2024
BREAKING: The Biden Administration is quietly backtracking on their blood libel against the Texas National Guard
— End Wokeness (@EndWokeness) January 16, 2024
Last week, Biden officials accused Texas of preventing the feds from saving 3 drowning migrants.
The government just admitted in court that Texas was only informed a… pic.twitter.com/7Eu2pNtW6v
ABC reports:
The Department of Homeland Security has threatened the state of Texas — saying the state is acting unconstitutionally in blocking Customs and Border Protection’s access to Shelby Park in Eagle Pass, Texas, and if the state continues to do so, the Justice Department will take “appropriate action”, according to a letter obtained by ABC News.
“Texas’s actions are clearly unconstitutional and are actively disrupting the federal government’s operations,” DHS General Counsel Jonathan Meyer wrote to Texas Attorney General Ken Paxton. “We demand that Texas cease and desist its efforts to block Border Patrol’s access in and around the Shelby Park area and remove all barriers to access in the Shelby Park area.”
The Biden administration accused the Texas National Guard of blocking Border Patrol agents from accessing a 2.5-mile stretch of the southern border in Eagle Pass, Texas, including Shelby Park.
The letter from Meyer, dated Jan. 14, says Texas has until Wednesday to “cease and desist its efforts to block Border Patrol’s access in and around the Shelby Park area and remove all barriers to access to the U.S.-Mexico border …”
If not, Meyer says they’ll refer the matter to DOJ “for appropriate action and consider all other options available to restore Border Patrol’s access to the border.”
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Trudeau Says Trump Winning Presidential Election Would Be A ‘Step Back’
Justin Trudeau believes that Trump winning the 2024 US presidential election would make life tough for Canada and would be a ‘step back’ in relations between the North American neighbors. The Canadian Prime Minsiter had […]
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