Economic Decline: Canada’s Economy To Lose Top 10 Spot By 2020

As Canadians, we must not accept a future of low growth and diminished expectations

Signs of Canada’s economic weakness are growing. Our falling dollar, weakening manufacturing, burdensome regulations, and government overreach are all putting our economy, and our prosperity at risk.

Now, there’s further evidence of our economic decline:

According to a report by the Centre for Economics and Business Research, Canada’s economy will fall out of the top 10 spot by 2020 – when we will be surpassed by South Korea.

There is nothing inevitable about this. It doesn’t have to be this way.

If our economy was growing at even 3 or 4 per cent yearly, we would be able to maintain a strong economic position. Instead, our “leaders” in all their brilliance have maneuvered our economy into such a state that the CEBR predicts “Canadian GDP growth of 1.8 per cent from 2016 to 2020, followed by a decade of 2 per cent growth from 2021 to 2030.”

Keep in mind, 2 per cent economic growth is almost nothing when we account for inflation and population growth. The government loves using it as a statistic since they can claim the economy is “growing” even as life gets more expensive and people feel poorer and poorer.

That’s why the difference between 2 per cent growth and 4 per cent is so important. But higher growth doesn’t even get mentioned by our leaders anymore. It’s like they’ve given up.

Our economic struggles are a direct result of decades of policies that favoured big corporations and global banks, rather than Canadian workers.

Not to mention the upcoming carbon tax that will impress foreign elites at pricey international dinners while screwing over the Canadian workers and families who actually keep our country going.

Consider where we stand: Wages are stagnant or falling for many. Debt is rising. Purchasing power declines as the dollar falls. Jobs are more precarious than ever.

And our government tells us to get used to it.

Not acceptable.

The globalist agenda, hiding behind the lies of “free trade” that really turned out to be global corporate collusion, and the ongoing destruction of the middle class – is hollowing out our economy, our society, and our nation.

It’s time to start building our economy from the ground up, with policies to build our infrastructure, strengthen our national defence (creating jobs through a growing Canadian defence industry), build refineries so we can refine Canadian oil on Canadian territory (and stop importing from Saudi Arabia), and get Ottawa out of the game of trying to “manage” the economy.

We need to let provinces and local communities have more power and freedom to make their own choices. We need to put money back in the pockets of Canadian workers. We need to unleash the creativity of our people by getting bureaucrats to stop strangling us with excessive rules and regulations.

If we don’t make those changes and put our workers and our national interest first, our country will continue to be hollowed out by globalist interests, and we will fall further and further down the economic rankings. A small, government-connected elite will get richer, while the rest of us will get poorer. We must not continue down that path.

Canada deserves better than a future of lowered expectations and stagnating growth.

Spencer Fernando

Photo – Saku Takakusaki