Canadian Economy adds 31,800 jobs in June – July 6, 2018
well, well, well Canada, the Canadian economy added 9,100 full-time jobs in June and 22,700 part-time positions. The public sector gained 11,800 jobs and the private sector lost 2,000. If you read the stories from all the sources listed below common sense would tell you that Canada better pray for an economic miracle.
An economic miracle on the way called tariffs
Tariffs actually help to fudge the numbers, because tariffs cause prices to go up, tariffs are actually an added tax, so in a way these tariffs are an economic stimulous for the Liberal governmnet of Canada. It wouldn’t surprise me if in the coming month’s we hear stories in Canada about our hot economy or profits up in Canadian retail. The rpivate sector doesn’t pay for tariffs, customers do, the people do so it always amaes me whenever countries become nationalistic whenever there’s a trade war present.
That aside since around 2010 I’ve been looking at the Canadian economy not as an economy that will crash but as an economy that will decline, slowly. In Canada we have a lot of unfunded liabilities to pay for. Generations of future Canadians will be on the hook for the money and resources we’re spending today. For myself, I looked at Trump as a way for Canada to get things right, a chance for us to look in the mirror and get back to being an open market for business. But, protectionism appears to be here to stay, massive regulations are here to stay, corporatism is here to stay.
An economic crash in Canada right now would be healthy because if it doesn’t happen, there’s no reason for Keynesians or Left-leaning people to change. If I was doing something and on the surface, it was working because only small pockets of the private sector were complaining why would I stop doing it? There’s no reason too. Also if I were a Canadian living off some form of government subsidiary and as long as I voted leftist the checks kept coming in why would I vote in the other direction?
New Zealand and even Australia have to be responsible whenever they implement a socialist program, if they’re not there are dire consequences for their economies. In Canada since Jean Chrétien, for the most part, we’ve used America to pay for most of our social programs. We’ve been able to get away with it primarily because of NAFTA. The trade-off for Canada under NAFTA is that we’re turning into a service sector economy.
The benefit is our use of the Canadian dollar which is used to help us compete with the United States economically. We protect industries Canadian industries by raising the bar to get into the Canadian market and we use our higher regulatory standards to dominate the U.S in trade disputes. Most people in Canada know a lot of the regulations we have are pure B.S but hey it’s worked up to now, so why change it right? Well, for the first time since the creation of NAFTA American’s hired an individual that is economically astute.
Now, what a lot of Canadians aren’t realizing is that the longer this trade war between Canada and the U.S lasts the more trade issues with America and other countries lasts is the more it will become a standard political issue Democrats and Republicans will have to deal with in the future. Trump is changing how Americans view politics, what Canada has to understand is that Trump has put American issues first and foremost and in order for another U.S politician to make it into the white house that U.S politicians will also have to take a similar economic approach as Donald Trump.
That aside, Canadian protectionism is about to get put to the test and if we win this trade war with the United States it’s not going to change our dire situation. Think about this for a second
The public sector gained 11,800 jobs in June alone
Then think about this:
Canada added 9,100 full-time jobs
Then think about this:
Canada added 22,700 part-time positions
Lastly, take this into account:
the Canadian private sector lost 2,000.
The public sector gained 11,800 jobs in June alone? while the Canadian private sector lost 2,000! How big can the government get before the economy comes to a screeching halt.
Interesting times ahead.