This is for Canadians....

We are in a recession. It frustrates me the Government won’t acknowledge this.

In September we gained 66,000 jobs. Woohoo! That is a big number. Only it isn’t. The jobs gained were part time. In fact, year over year, that is same month last year compared to this year, Canadian workers worked .2% FEWER hours. Not more.

Consider we have added over a million people to our population. It might be as high as 1.3 million. With many, if not most of those, being working age adults. We should be running about 2.5-3.0% more hours, not .2% fewer hours.

Our GDP is supposedly up marginally, less than 2%. But consider inflation. How much inflation last year? 8%? 10%? More? If we were making more by 2% that would be weak, but okay. But, add in almost 3% population growth and 8%-10% inflation we are rapidly losing money, on a per capita basis. Maybe by as much as 10% to 15% a year.

Then, consider the year before last Justin and the WEFing Liberals ran a $95 BILLION deficit! Funny money. Fake Growth. That would have been added in and circulating around. Take that off and we are in a massive recession.

I spoke today with a representative of a National Real Estate Company. They are Commercial realtors working in all aspects of the Commercial market. He said they represent the economy well as they deal in Retail, Industrial, Agricultural, Multi Unit Resi buildings, Office space, and so on. He said they touch on every market segment of the economy. Their sales are down a staggering 83% across the country.

Let’s get back to the real 10% to 15% reduction in wealth. Does that sound reasonable? Does that comport with your own experience? Consider a pensioner who brings in $50,000 a year, as does his wife. So, they are making $100,000 a year. Not bad. Especially if they have paid off their mortgage, if they own something.

But, a nice lunch used to be $15. Now it is $25. A Latte would have been $3.50 a few years back. Now? I regularly see $5.50 and in nicer places it can get over $6.00. That $100,000 now buys about 40% fewer lunches and coffees. That is a big reduction in life style. Going out for dinner now is insane! Even young high income earners say they are going out less and less. We were out for lunch today in a medium nice place. Lunch entrees were $20 to $55. It would have been $12 to $30 pre Covid.

Let’s look at one more item. The TSE is DOWN over two years. By over 10%. Assume your portfolio kept up with the cherry picked TSE. Unlikely, unless you bought ETFs, but assume that. Take off fees of perhaps 5% over two years and then knock off 25% inflation over two years, your $500,000 in buying power two years ago (if you had that) is down nearly 40%. That is a staggering loss of actual living monies.

Do people not see this? I am wondering why everyone is not up in arms over this.