Canada's Smoke and Mirrors
824 sats \ 17 comments \ @grayruby 1 May econ
While our friends in the Liberal party boast about all their wonderful economic initiatives and vow to find those nasty culprits that "killed middle class dreams", we can take a look under the hood and see things maybe aren't as rosy as they promise.
It appears that Canada has had 7 consecutive quarters of contracting real gdp when measured on a per capita basis. Oops. This is fine!
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83 sats \ 3 replies \ @Undisciplined 1 May
If you think they understated inflation by more than 1%, then it’s been 8 consecutive quarters.
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113 sats \ 2 replies \ @grayruby OP 1 May
Me? Question the validity of data provided by Statistics Canada? Never.
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50 sats \ 1 reply \ @Undisciplined 1 May
That's why I said "if". I know you're a good little citizen.
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83 sats \ 0 replies \ @grayruby OP 1 May
I never question Chairman Trudeau.
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60 sats \ 1 reply \ @nichro 2 May
You can tell the economic prospects for the next decade aren't too hot when financial & business leaders have to start begging the government to pressure or force pension funds to invest more domestically, because said funds prefer investing outside Canada for stronger economic returns.
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0 sats \ 0 replies \ @grayruby OP 2 May
Great point
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60 sats \ 1 reply \ @jeff 1 May
I see a potential problem, you probably aren't measuring the value-added to society by the most expensive app in North America, and are you sure you are counting the CRA employee growth properly? Theses things add value, you have to include them in GDP.
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51 sats \ 0 replies \ @grayruby OP 1 May
You got me. I am ashamed at my oversight. Haha
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50 sats \ 0 replies \ @Bell_curve 1 May
I thought this was about cannabis policy lol 😂
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50 sats \ 0 replies \ @gnilma 1 May
I mean... it should be expected, right?
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50 sats \ 5 replies \ @Satosora 1 May
ouch. It will pick up though. I feel we keep looking at the small picture, a zoomed up view. If we took a look with a wider view, I think we would be okay. Grayruby, why is the price of btc going down?
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10 sats \ 4 replies \ @grayruby OP 1 May
My SN screen says 1sat=1sat.
Bitcoin had a lot going in it's favour from last Oct through to the beginning of April. Made a huge move. Too much leverage piled on. Leverage got wiped out and then tax season selling and then you had crypto traders trying to rotate to catch the next rally, then you have outflows from etfs the past couple weeks as early etf holders try to lock in some gains before price tanks. Positive momentum on the way up, negative momentum on the way down. We will find a floor soon in my opinion.
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100 sats \ 3 replies \ @Satosora 1 May
Oh okay. I dont usually pay attention to the news and stuff, so I dont really know what happens. And I havent actually ever sold btc. haha So we have seen the ceiling, and will have to wait a while? I should prepare my fiat to buy bit haha
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10 sats \ 2 replies \ @grayruby OP 1 May
Just be patient and stack sats.
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20 sats \ 1 reply \ @Satosora 1 May
I was a bit reluctant to buy lately because the price went up. I was waiting to see what the halving would do. Not that it really matters in the long run as long as you keep buying, but it does mentally feel a bit nice when you get the discount. haha
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10 sats \ 0 replies \ @grayruby OP 2 May
Always nice to get a discount.
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20 sats \ 0 replies \ @Coinsreporter 2 May
As I already mentioned, Canada won't be among the top ten GDPs by 2026.
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