Close Reading

We are kind of like the fall of the Roman Empire. They destroyed their OWN empire by corrupt governments, extending citizenship to non-contributors, and excesses. This is Canada today, we vote in bad government over and over...LIBERALS, our immigration policy is a disaster...with immigration and refugee policies that bring in non-contributors putting strain on our economy, and the LIBERALS not understanding basic economics, increase inflation, single-handily with excessive spending of non-dollars under their deficit spending. We've done this to ourselves, anyone voting Liberal has betrayed Canada...thank you very much....your grandchildren will suffer because of your stupidity.

Canada needs per country limits, if you look at stats you’ll see that there are thrice folds of immigrants from certain countries … I wish our government valued the Canadians who have lived her our whole lives instead of immigrants just for economic gain

Being born and raised in a third world country, I would love to be the fuel of Canada's economic engine, no matter how bad the Canadian economy might be, I have lived my entire life in an unimaginably much worse one. ?❤

Hi Tyler, first time I have watched your video, you appear to be known on the tube channel. You may be a nice guy, but you really live in a bubble, if the horror around you , in your country , domestically and especially foreign, does not effect you or your life, you cannot have a point of reference. School shooting has become a norm in your country, foreign politics, I don't want to start with that, domestic politics and corruption beyond comprehension, I have visited the US numerous times and I like the people, well , I had the right colour , that helped. My statements are not meant to attack the people of the US, it is meant to show that your domestic and foreign policies are extremely dangerous, since you can only be voted in if you have the backing of the corporate world, and don't forget to kneel before AIPAC , so , the people are friendly , but your domestic violence is literally stupid, your prison are privatized , they have to make money, you have the largest amount of prisoner , the corporate media , especially certain media such as Fox or Cnn, that is all the people know, very few read or do research, so , in conclusion, I like visiting certain aspects of your country, but I could not ever live there, my morals would prevent it, so good luck, unfortunately your politics effects Canada, economically, Canada should be far more independent.

YOU SHOULD BLAME ALL THE INDIAN STUDENTS, WHY THEY WANTED TO COME TO CANADA BECAUSE OF ECONOMIC REASON. WHY THOSE STUDENTS CAN'T FIND ANY UNIVERSITY IN INDIA. IF YOU CAME TO STUDY IN CANADA, ONCE YOUR STUDY COMPLETED YOU SHOULD GO BACK TO INDIA. YOU CAN'T BLAME THE CANADIAN GOVERNMENT.

Fastest growing non-African country with the slowest economic growth predicted (by the OECD) of any 'advanced' (OECD definition) economy-- until beyond 2060. Worse than Greece's economic growth-- and that place is so hot and miserable you can't even work, and they have 3.5x less people!\n\nNice! Go Canada! ?\n\n\nCannot wait to get a Singaporean golden visa. ?

I grew up in India and moved to Canada despite having family in the U.S. because I did not want to go through the shit show that is American immigration. That said, with the housing situation and generally how expensive things are in Canada, after 15 years, despite being a tech. worker, I decided to leave the country. I moved to Japan and despite the shrinking economy and demographic woes, I feel quite relieved to be out of the unsustainable shit show that is Canadian housing. Not to mention the weather, the absence of any dynamism in society or its culture, plus many other factors. It's been over a year now since I'm out and I frankly don't see myself going back unless there is a sustained correction in housing prices.\n\nFurthermore, I think immigrants don't understand how exploitative the Canadian economy can be towards newcomers. The problem with living in Canada vs. the U.S. is not comparable really at the level of immigration. Canadian immigration is easier but the problems of living in a smaller, less economically and culturally dynamic, more expensive, colder country never go away despite you having quickly received the opportunity to settle.

Canada needs immigration for continued economic development and growth, they are having less children and the population is aging rapidly, look at their population pyramid.

Canada is not the only county seeing this, and the US not the only country turning it's back on the benifits of immigration. You could have made the exact same video about Ireland vs the UK (except wages in Ireland are far high rather than lower than the UK) Here in Ireland we have long benefitted a great level of immigration fuelling rapid economic growth but since 2016 with Brexit, Trump ect. making it clear that immigrents aren't welcome in some other counrties we have seen a whole new type of immigrent from countries like Mexico where recent graduates seaking work experence in English pick Ireland rather than the US or UK as we have a better immigration system but also a culture which welcomes immigration as an endorcment of our country. Here the more you are proud of you country and culture the more you go out of your way to welcome immigrents who are the living embodyment of your belief that we are the greatest counrty in the world, not the welcome immigrents can expect from nationalists in the US or UK. The big winners here are countries like Canada & Ireland who have recognised that in the 21st Century it's not coal, iron or even oil that brings wealth but rather being able to attract the best & brightest talent in the world.

I have mixed feelings about this video. This video does a good job outlining the immigration process but it does not highlight any of the negative consequences of immigration that Canada is experiencing. One of the main reasons why cost of living is so high in Toronto and Vancouver is precisely because we have so many immigrants coming in without enough housing supply. This is by design because politicians and the upper class have a vested interest in keeping real estate prices high because so much of their net worth is tied up in the housing market.\n\nAnother negative is that employers hire immigrants working low skilled jobs and pay them less than Canadians because the immigrants are willing to be taken advantage of since they're just happy to have a job in Canada which pays better than their country. \n\nAnother myth that gets repeated is that Canadian takes immigrants out of compassion and unfortunately a lot of Canadians believe this. It was never about compassion, it's about bringing more people to 1) pay taxes to support our social welfare as Canadian birth rates decline and boomers retire, 2) keep housing costs high and 3) pay immigrants lower wages for the same work because immigrants are fine being exploited since they have a job in a first world country.\n\nAnother problem is the cultural shift. In the most immigrant-dense regions you'll find that many immigrants themselves surprisingly don't want more immigrants coming to Canada because they see these negative consequences. The people who are most pro-immigration have no problem cramming 8+ people in a basement and exploiting their labour because they make enough money to live in communities that immigrants can't afford, and so they don't have to deal with the cultural shift that's taking place. This is NOT the fault of immigrants, but rather the politicians who put economic growth over quality of life. Over HALF the people in the GTA weren't born in Canada, so they didn't go through our school system and have no connection to our culture. Canada is unfortunately going to become very racist over the next 10-20 years as Canadians start feeling like outsiders in their own country. It's somehow considered racists to criticize the effect of multiculturalism on social unity, yet the cultures we accept in Canada only became distinct cultures because of monoculturalism.

I had no idea Canada was in this situation. It seems that, within our lifetimes, it will cease being a nation and will instead become an economic zone for people to move to.

Honestly I think that the political parties support immigration in Canada is because they have a direct economic benefit to it with high housing prices and so they allow more and more people like cash-cows to come in Canada.

It cannot be stressed enough how successful the economic migration system has been for Canada--while the humanitarian programs not so much, being more ambiguis cost-/benifit-wise.

Both Canada and the US could alleviate so much of their socio-economic problems if they abolished restrictive zoning laws.

People just conveniently ignore the basic conclusion that more immigration means more labour supply, and so lower wages, and it means higher housing demand, so higher home prices. Now Canada has home prices that are too WAY high, and everyone just conveniently ignores a major root cause.\nEdit:\nYes, a lot of people are pointing out zoning policy and NIMBYISM, and while those have a massive effect, we can see from the US, where these things are present to a similar extent but without so much immigration, that this alone can't raise housing prices to Canadian highs.\nEdit 2:\nI'm also not denying that there are legitimate moral arguments you could make in favour of immigration, but the adverse economic effects for the many in favour of the few cannot be denied.

The financial sector is not a good barometer of the economy of a country. I know, it sounds crazy. But, it's true. There are many large businesses from other countries reaping massive profits from Canada which count into the progress of Canada until they decide to leave the country with the money. Also, large companies currently worldwide are more in the mode of pleasing their share holders. Thus, consolidating their businesses and firing hundreds or thousands at a time in those consolidations. The financial sector rarely trickles down their profits at the proper level to keep up with inflation and overall cost of living. This leaves the middle class and poor sinking into an economic abyss as each year passes. Which then leads to less purchasing power by the masses and inevitable economic declines.

Many, many Canadian DOCTORS move to the USA. They scoop up their taxpayer-subsidized, cheap medical degree here in Canada. Then, because they know how overworked doctors are here in Canada, they move to the USA for HIGHER income, LOWER taxes and they never, ever have to pay Canadian taxpayers back for what we gave them -- their affordable medical degree. Lawyers don't usually move to the USA because their legal knowledge is too specific to Canada and doesn't transfer as well as medical knowledge does. Americans die because they aren't medically covered. Canadians die WAITING for healthcare. We wonder why our healthcare system isn't delivering. It's because 1) our medical schools accept too many foreign students who never intend to practice medicine here in Canada, because their inflated international tuition fees bolster the economics of the schools of medicine, and 2) because few Canadians who study in Canadian schools of medicine intend to stay in Canada to practice. Here's a reason to revamp how we subsidize medical degrees. 1) We subsidize doctors with a contract saying they agree to practice in Canada for __ years, or 2) if they move to the USA, they owe us the actual cost of their education.

This is a good presentation and accurate but it does not elaborate enough on the processes of why Canada's failures are happening except for the part about the brain drain. The brain drain is when the best of Canada's talent leaves Canada for the USA. The USA GDP benefits and Canada stagnates. This drain has been going since at least the 1950s. This is why Canada has no heyday, no peak, no golden age. It's in part a fault of its government but it is especially a fault of its society. Canada was mediocre before mediocre was cool. Canada is not dynamic: it is anti-dynamic. Change in Canada is always enforced by outside forces, by necessity. Whereas the USA loves heroes; Canada loathes them. Ambitious people, visionaries, entrepreneurs tend to draw more from resources and Canadians are afraid of risk. Various analyses have shown that Canada has willfully, deliberately, perniciously decapitated of its own economic future.

The problem with Canadas economy is that the canadian government is 10000 percent dependant on running its economy using the IMPORTED money of so called immgrants from Asia and Middle east into Rear Estating, permanently creating hyper inflation in housing prices and ensuring the banking ponzi scheme does not collapse, as their money in real estate bails out Canadians and banks, via higher and higher and higher home prices. CUT THE CRAP AND LIES, this is 100 percent the economic policy and has been for years of Canadistan, the other is pouring 1000000 of so called foreign exchange students to pay 40000 for to attend one of the 1000s of crap fake colleges....to come to canada and get their prs and import and pend 100k ish per head in to the countrys economy.

Well, despite many of the answers here, there are more Canadians emigrating to the US than Americans immigrating here. Considering the population difference, the disparity is huge. To make things worse, most of the emigrants are highly educated in specialized industries. Often, it's for economical reasons as income in some industries is ridiculously higher in the US than anywhere else in the world, Canada included. This brain drain is one of the reasons cited for the expected poor economic growth for Canada in the coming decade, at least compared to other developed nations. The one saving grace here is that there are a lot more qualified immigrants coming in from other countries than Canadian emigrants.

The single issue I would have would be the healthcare one. But as of now, this year of our lord 2023, Canada is on a slip-n-slip straight to socialist hell. And I would have a difficult time finding any other reason not to choose the US. Even with the health care, since the pandemic - and possibly because of mass firings - our system has been so stressed it's now actually as dire as Americans have always believed it was. On top of that, people in need of life saving surgery's are being refused if they haven't been jabbed, people are literally bring left to die. We have a housing crisis and a homelessness crisis, so what does our government do? Brings in a bunch of economic migrants to further stress our system. All in all, the US would be a much better option today.

I'm going to answer this before even watching the video. My reasons for not moving to the U.S. are straightforward: 1) my career entrenches me here; and 2) the financial problems Americans face over the private medical insurance system are a huge deterrent. Other problems: politics is too polarized and too many guns. It gets tempting to move there though. You can have pretty much whatever climate you want (tropical, dessert, mountains, boreal forests, etc.) and it's the world's economic heartland. Things in Canada aren't perfect either. American median income is now 40% higher than that of Canada. That's shameful.

You've got to understand the socio-economic breakdown which is very similar in the United States and Canada. 1% are wealthy, 4% are rich, 5% are professional class, 20% are middle class, 30% are blue collar or skilled working class, 30% are working poor and 10% are poor/economically insecure. Start from there. People shouldn't let politics or people make up their minds.

In the US, the price setter for health care is the doctor, or hospital. Given that it can be life or death, the sky is the limit for the price. In Canada, the government pays the bills. It pays in bulk. And thus gets the best prices. So. \n\nIt’s simple economics. \n\nPrivate industry wrote the laws and is writing the laws that govern their areas today. That’s what all those filthy rich lobbyists are doing in Washington, DC.

Haven’t watched the video yet. Coincidentally, just talking with my wife about the economic conditions in Canada. If our PM wins another election, we are going to have to consider finding somewhere else to reside. Not sure if the US is the answer though.

hello, Canadian here. i believe that ( personally ) if Canada had the same freedom for weapons as the USA, things wouldn't go as bad as the USA. or wouldn't change at all. the main problem, which americans at large still refuses to admit it seems, or at least the loudest ones, is that it's a culture problem, not a gun problem. the whole of USA culturally is kinda rotten with way more chances for someone to just crack and go nuts, or commit a shitty act out of desperation, anything. while in Canada, we have people and gorups to help take care of this. we do not bankrupt people by making them seek help at hospital, and so on. the whole socio-economic of the USA is to blame for this. \n\nin my humble, basement dwelling person opinion as someone who thought about this subject for a while.

Canada is a National Slave pitt and a failing welfare state.\n\nGo Home and Stay away . Either your freezing for 6 to 8 months or getting eaten alive by Mosquitoes in the humid summer. \n\nThe one thing that kept people comming here was Economic opportunity , but greedy ignorant politicians and their special interest groups have been destroying the Finacial future.\n\nThere is nothing left here but a Slave Pitt . Sorry to say the truth.

The economics of Canada are easily explained by corruption. The basic economics of our housing crisis are literally so painfully obvious you’d have to be a liar or in denialism to pretend it was anything other than basic math that is destroying our country.

The problem with Canada's economy is that you have unelected leaders like Trudeau who belong to the WEF and want to deliberately DESTROY Canada. Do you honestly think a majority of Canadians voted for that disgrace? GROW UP. Nope, Dominion voting machines = FRAUD. He is the chosen one of the WEF to economically RUIN Canada. Its no secret. What, are you stupid or something? His father did the exact same thing.

Canada's economic problem is call Justinflation otherwise know as Justin Trudeau

The part about the banking system is at best a half truth. Canada looked like it came through the 2008 crisis better than the States because the government did not allow a correction in the housing market. Rather, the Canadian government kept the party going with free money, which made the balance sheets of the banks look good, but over time caused housing prices to inflate far faster than household income. The result now is wildly over-inflated housing prices which - coupled with increasing immigration of well to do foreigners pricing Canadians out of the market - has come to the point that many Canadians born in Canada can no longer afford to live there. This in turn exacerbates the brain drain to the USA, which further reduces Canada’s innovativeness and international competitiveness. \n\nHowever, the universe mandates equilibrium, and this house of cards will come down sooner or later. When it does, Canada will be facing a far worse financial and economic crisis than the USA did in the late 00’s, as all of the Big 5 banks will become insolvent.

Runaway INFLATION and ASSET Bubbles which are the direct results of BoC's mismanagement of monetary policies are the DIRECT THREAT to Canada's Security, Sovereignty, and Independence. \nThe rates must go WAY HIGHER, to fight high inflation from its core, exactly what Paul Volker, Fed/Res chairman did in the US back in the 1980s. \nWe need DEFLATION in this country and not inflation to bring consumer prices down from high real estate prices to food, energy/utilities, and taxes. \n \nAssesst Bubbles which were created by the Bank of Canada must be DEFLATED, if NOT the cost of living will NEVER GO DOWN and it would lead to SERIOUS and DEVASTATING Social, Economic & Political Consequences in Canada for years to come which subsequently would lead to Mass Protests, Riots, Mutiny, Social & Labour Strikes/Unrest, Crimes, Violent Crimes, Organized Crimes, Drugs, Unemployment, Homelessness, Tent cities, Inequality, and Disparity.

I’d add complacency as another point. I guess that falls under the rules point. Canada always seems to not strive to be anything, as long as we have enough, everyone doesn’t seem to care. Low productivity, extremely regulated business laws, high taxes for relatively poor services and extremely misaligned immigration numbers are seriously hampering progress and economic growth for the individual. The government loves to brag that the economy is growing, but per capita income hasn’t moved or is shrinking. They self sabotage every way they can, especially with funding the green transition and by slapping everyone with carbon taxes, that are only going to keep on increasing without any actual proven emissions reductions

Your thumbnail explains the major economic problem with Canada. Justin Trudeau. Done.

Vancouver is not Canada..... \nleave the passport at the door. \n\nSpain is a economic basket case where their standard of living has been falling consistently for the last 10 years.

What did he think was gonna happen? You were already in the US, which comparatively speaking to Central America, is much safer by every metric. Why would you then leave the US to come to Canada? Of course you can’t seek asylum because you’re not a refugee. \n\nDon’t get me wrong, I believe that if people follow the legal procedures for the country they wish to reside in, they should at least have a chance at residency. However, this guy is an economic migrant, and if he wishes to live in Canada then you shouldn’t be filing for asylum, you need to apply for residency. But the fact that he was already undocumented in the US means that he risks deportation if he re-enters. Congrats, you played yourself and you’ve put your family in jeopardy. \n\nAbusing the asylum claims system is going to ruin it for those who actually need help. Get it right or go back home.

I forgot to mention, I don’t know if this is important to anybody, but Canada is unable to protect itself from invasion because they only have 8000 people in their national garden Coast Guard, which is why Canada relies very heavily on the United States and Norrad to protect it. I think every Canadian and every American should read Diane Francis book called the merger of the century. She’s a Canadian American professor, who wrote this fantastic book about why the two countries really should merge militaries certain aspects of customs and immigration and rule of law, as well as corporate law and economic markets.

The average American is better off as far as salary goes but the median American is very much worse off. You touched on it with the GINI - in America there are a large number of very wealthy people skewing all economic indicators. The rich get richer while the poor get poorer. I do not want Canada to follow this route, it is OK if we don't maximize output because we take care of our people better.

California Love ? Always US ...USA is the best economically and doing business is easy and golfers are more in US then in canada canada is lil more chill and good for residing after your 50's

At the end of the day I think Canada and the US share a lot of common ground in a lot of areas. \nThe major difference in my eyes between Canada and the US is the competitiveness of each economy. The US is far more competitive and innovative than Canada. Canadians are more risk averse and seem to want to work for the government or a big company whereas Americans are more confident in themselves and would prefer to work for themselves and try to start a business for themselves - and importantly - want to have it become a large business. \nAs a Canadian I wish I would have moved down to the States and tried it out when I was younger. I'm too old to move there now... \nCanada still isn't a bad place but it is nowhere near as prosperous for the average person, or I should say the average worker, as it used to be. And Canada's economy seems to be deteriorating rapidly and being usurped by newly developing countries whereas the economic future of the US seems brighter due to the powerful innovation in the US. However the social situation in the US seems to be deteriorating more so than in Canada.

Canada, like the US, primarily has an economy of monopolistic power that limits real capitalistic competition, that exploits a population, rather than serving it thanks to supply side economics. It definitely has a distorted and pernicious form of competition.

I came to Canada with big economic dreams, but Canada has so laid back attitude when it comes to economic development. This country is good for retired people only ?

Canada has the same kind of global problem as France, talking on inovation:\nCanada (as France) needs first to fight against its bureaucrats' corruption. Because it permits to maintain the economical spying and spoilation from the US.

As a Canadian, I have to say this is a good summary of the major economic issues Canada faces right now. Our current government's polices have done nothing but make the problems worse and people are getting angry.

It needs to get very very bad until it gets better. Canada needs a wake-up call like that. Especially its young and naive generation. I've never seen so many people so eager to build a socialist/communist dystopia. This country is heading down the same road as Venezuela, Cuba and all others who thought they could pull off that ridiculous prescriptive style of economic system.

The economic problem in Canada displayed in your thumbnail.

I'm pretty proud and protective when it comes to anything regarding Canada, so I started the video with a big finger in the air, you know, like ''hey wait a second! You're forgetting about this and that!''... But as I was watching you kind of addressed most of it, and I must confess it's a pretty thorough and well balanced review of Canadian economic issues in 2023. Well done ahah! You have a new followers.

You are bang on with your assessment. I am now retired but spent my entire career in the private manufacturing sector. Because of poor economic policy, I have watched the decline in the manufacturing sector to which I have been screaming about for the last 20 years. You cannot be a service only oriented economy which we clearly are moving toward. The last 8 years have been extremely the worst with the current Liberal government in charge - Canada needs better leadership and Trudeau clearly is incapable of providing it. It's not too late! The structural bones are there, we just need smarter people in the government to provide the right economic stimulus to make it happen.

Canadas biggest economic problem are the liberals, their burning our economy to the ground. Blaming Covid when really it was their poor handling of Covid. Now Ukraine, when was the last time you picked something up that said “made in Ukraine” never, not even made in Europe.

I think this video is good overall, but downplays the potential severity of our housing crisis. It's not just a problem for renters. Rapid expansion in finance and real estate are only a good thing if they are backed up by real growth, otherwise it's just a bubble that puts the entire national economy at risk. In Canada, it's got many characteristics of a bubble that will crash during an interest rate rise or economic crisis.\n\nAlso income inequality is not the whole story. Wealth inequality has been rising rapidly in Canada and is made worse by rapidly rising rents and inflation. Owning a home outright or with a smaller mortgage means spending less of your income on housing in Canada's current system, so even at the same income level homeowners are dramatically better off than renters and renters have noticed. It's one thing to point at some graphs of the Gini index and say inequality isn't that bad, but that's not good enough when regular people see homeowners buying fancy cars and taking lavish vacations while renters scrape by.\n\nFurthermore, you pretty much ignored the demographic concerns in Canada. We have an aging population, which means we either need high immigration that worsens the housing crisis or higher taxes to pay for growing healthcare and pension costs. Neither option is good and both paths lead to increases political and economic instability. Demographics is one of the main reasons the OECD has a poor outlook on growth in the long term.