shockedcanadian
Diamond Member
- Aug 6, 2012
- 43,988
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The truth is that the CUSMA protects 90% of our products but our decline is perpetual and the West have three provinces who are very displeased, Alberta is goingt o hold a referendum on Separation from Canada. This is just an insane reality as they do not want to be held hostage with their oil in the ground.
What Canada needs to be very concerned with is America deciding to rip up USMCA and negotiating separately with Mexico and Canada when it comes due next year. THAT is the real threat and which I predict will lead to Canada openly up market access as long as Trump stays the course.
We have 100,000 homeless in Ontario alone, I'm watching boarded up businesses every day, some of them have only been there 3-4 months, so they must be getting shorter term leases on rent or they are breaking their contracts because it's cheaper than bleeding cash every month.
Despite tariffs piling up over the past few months, economists say there are few signs of economic collapse — though Canada's economy is starting to show cracks.
TD Bank economist Marc Ercolao conceded it's a "bit of surprise" to see the economy holding up against a massive disruption from Canada's largest trading partner.
"Many months ago, ourselves — as well as other economic forecasters — had an outlook for a much weaker Canadian economy. Obviously, that isn't manifesting now," he said in an interview.
"We are avoiding the worst-case scenario."
Last week, Bank of Canada governor Tiff Macklem said Canada's economy is holding up under the weight of U.S. tariffs with "some resilience."
Just a few days later, U.S. President Donald Trump added 35 per cent tariffs on Canadian goods to a running tally that includes hefty duties on steel, aluminum, automobiles and, more recently, semi-finished copper.
On Thursday, Statistics Canada gave a glimpse at how the economy wrapped up the second quarter of the year when many of those tariffs came into full effect.
The agency sees a couple of small contractions in real gross domestic product (GDP) by industry in April and May, but its flash estimates show the economy rebounding somewhat in June.
If those early readings pan out, Statistics Canada said that would be good enough for flat growth overall on the quarter.
What Canada needs to be very concerned with is America deciding to rip up USMCA and negotiating separately with Mexico and Canada when it comes due next year. THAT is the real threat and which I predict will lead to Canada openly up market access as long as Trump stays the course.
We have 100,000 homeless in Ontario alone, I'm watching boarded up businesses every day, some of them have only been there 3-4 months, so they must be getting shorter term leases on rent or they are breaking their contracts because it's cheaper than bleeding cash every month.
Despite tariffs piling up over the past few months, economists say there are few signs of economic collapse — though Canada's economy is starting to show cracks.
TD Bank economist Marc Ercolao conceded it's a "bit of surprise" to see the economy holding up against a massive disruption from Canada's largest trading partner.
"Many months ago, ourselves — as well as other economic forecasters — had an outlook for a much weaker Canadian economy. Obviously, that isn't manifesting now," he said in an interview.
"We are avoiding the worst-case scenario."
Last week, Bank of Canada governor Tiff Macklem said Canada's economy is holding up under the weight of U.S. tariffs with "some resilience."
Just a few days later, U.S. President Donald Trump added 35 per cent tariffs on Canadian goods to a running tally that includes hefty duties on steel, aluminum, automobiles and, more recently, semi-finished copper.
On Thursday, Statistics Canada gave a glimpse at how the economy wrapped up the second quarter of the year when many of those tariffs came into full effect.
The agency sees a couple of small contractions in real gross domestic product (GDP) by industry in April and May, but its flash estimates show the economy rebounding somewhat in June.
If those early readings pan out, Statistics Canada said that would be good enough for flat growth overall on the quarter.
