Post AbdbsB3GA2CHF4Taym by david_megginson@mstdn.ca
 (DIR) More posts by david_megginson@mstdn.ca
 (DIR) Post #Abdbs9MKSAGJzdNnQO by jd@mstdn.ca
       2023-11-09T15:34:25Z
       
       0 likes, 0 repeats
       
       “Thirty years ago, Canada could be rightly thought of as one of the more prosperous countries in the world. … That’s the past. The present and future look to be a great deal less pleasant: Canada is not just losing ground relative to other countries but there is an increasing likelihood of an outright decline in living standards.” - Globe and Mail editorial, Nov. 9
       
 (DIR) Post #AbdbsB3GA2CHF4Taym by david_megginson@mstdn.ca
       2023-11-09T15:43:05Z
       
       0 likes, 0 repeats
       
       @jd Imminent Death of the Canadian Economy Predicted?The Globe is a bit neo-liberal: I respect their news coverage but I take their editorial with a grain of salt.S&P still gives Canada a AAA credit rating with "stable" outlook. Those are hard to get; only 10 other countries have one (the U.S. and U.K. are not among them).U.S. mean income is higher, but U.S. median income is almost the same as ours (plus we get free healthcare); the U.S. uber-rich skew their mean.#Canada #economy
       
 (DIR) Post #AbdbsCi3zoQkNuZhDc by MaybeMyMonkeys@mastodon.social
       2023-11-09T15:52:11Z
       
       0 likes, 0 repeats
       
       @david_megginson @jd the sky is alway falling and the wolves are after the sheep when conservatives are not in charge. When they are in charge they lend you money to buy umbrellas, kill the sheep, fire the shepherd, and proclaim problem solved.
       
 (DIR) Post #AbdbsDPfNhJCZ8yWBM by david_megginson@mstdn.ca
       2023-11-09T15:47:08Z
       
       0 likes, 0 repeats
       
       @jd Other countries with a AAA credit rating:AustraliaDenmarkGermanyLiechtensteinLuxembourgNorwayNetherlandsSingaporeSwedenSwitzerlandBig countries have a harder time achieving a AAA rating; note that Canada's the second biggest in the list (after Germany).
       
 (DIR) Post #AbdcPkFGKhI9wv646S by fcktheworld587@social.linux.pizza
       2023-11-09T18:14:39Z
       
       0 likes, 0 repeats
       
       @jd thirty years ago, wasn't Nortel like 40% of the value of the Canadian stock market?  To use Canada thirty years ago as a standard of economic health against which to measure anything is fucking lunacy lmao
       
 (DIR) Post #AbddmpXOvB76yj9XEG by dan613@mstdn.ca
       2023-11-09T18:29:58Z
       
       0 likes, 0 repeats
       
       @fcktheworld587 @jd And housing sales are still a big portion. I really think we are measuring economies wrong if a huge cost of living increase is a good thing.
       
 (DIR) Post #AbderoifUUlZqJMfs8 by fcktheworld587@social.linux.pizza
       2023-11-09T18:42:08Z
       
       0 likes, 0 repeats
       
       @dan613 @jd I agree.  The thing is, measures of the economy are typically done from the perspective of the capital-owning class, so what feels like a good economy to your average person is far from what will be reported as being a good economy, from the top.  A good economy, from their perspective, is one from which maximal value is being extracted from the working class, with reasonable certainty that they won't experience any hiccups in the near future, so the poor are poor, but also motivated
       
 (DIR) Post #AbdfbTnVbtlkH8P0xU by jd@mstdn.ca
       2023-11-09T18:50:18Z
       
       0 likes, 0 repeats
       
       @fcktheworld587 @dan613 Yes. And then we have to address the fact that the vast majority of mainstream economists still chant out the ‘growth is good’ mantra, blithely forgetting that perpetual growth on a planet with finite resources is a prescription for disaster.
       
 (DIR) Post #AbdgKSfodVn3ovFkg4 by fcktheworld587@social.linux.pizza
       2023-11-09T18:58:32Z
       
       0 likes, 0 repeats
       
       @jd @dan613 infinite growth is literally cancer.  We're killing our host rn