The Truth About The “Great” Economic Report: Exports Fall, Growth Fuelled By Massive Household Debt

Household spending grows at the same time as our household debt is the highest on Earth. Meanwhile, our exports are down over 10% in Q3.

Amid the latest “great” economic report, the establishment media has been singing the praises of the economy, and talking about how wonderful everything seems to be going.

Yet as always, the truth about the economy can be seen under the surface – and it raises serious doubts about how “strong” the economy actually is.

For example, economic growth in Q3 was driven by household spending. Yet even with that spending, growth slowed to 1.7% – which is rather anemic.

Yet, that growth itself is more vulnerable than is being reported, since it’s based upon our country having the highest household debt levels on Earth.

Any economy can “grow” based on massive debt, but much of that growth is inevitably lost in a recession down the road.

Even worse, exports fell by a full 10.2%. That drop was in large part due to weakness in the automobile sector, while with jobs and production being shipped out of Canada to the U.S. and Mexico.

So, we have weaker exports, and growth fuelled by what is literally the worst household debt burden on Earth.

That doesn’t sound “great” to me.

Read more about Canada’s massive household debt burden here.

Spencer Fernando

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Alan Burley

Mainstream Media are still in Love with the trudeau phenomena. They ooohh and ahhh more then he does in his speeches. They, the mainstream media are the #2 problem in Canada. #3 is the people that blindly listen to the crap this clown is speaking, without thinking of what he is saying.
And of course the #1 problem is the POS himself, the dishonorable justin pierre trudeau crime minister of Canada.

L Kane

I could not have said it better!

Jen

O/T, Spencer, did you see Pierre Polievre this morning? He was outstanding, you should that tape to Canadians because I would not be surprised that many Canadians did not see it and as ling as they are unaware to Morneau’s corruption; the better off it is for him to continue doing as he pleases.