“We did have one pop up in the previous quarter, but that was a pretty minor thing,” said Poloz. “And the only good news, if I caught that, is government spending. That’s not the sort of thing to build your recovery on.” Poloz said the Canadian consumer has suffered a 30 per cent increase in the cost of living following the recent inflationary period, which has reduced spending. Additionally, inflation has fallen faster than was predicted, which Poloz argues only happens during a recession. https://financialpost.com/news/economy/bank-of-canada-stephen-poloz-says-recession

Business leaders tend to be relatively optimistic compared to the population as a whole, and so these results kind of surprised me. Of course to many of us living in the United States, economic conditions are already so bad that it feels like a recession has already begun… In August, roughly 60% of Americans said they believed the U.S. was in a recession, according to a survey from Affirm. Further, in October, more than half of Americans said they were worse off than they were four years ago, according to a Gallup poll. https://activistpost.com/2024/12/wef-survey-shows-that-business-leaders-are-deeply-concerned-that-a-global-recession-is-coming.html

This is the Patten also in Canada its all the same, The size of government in the economy increases both during and after a recession. Taxes constantly rise, but debt rises faster. Upside-down economics. The Biden-Harris administration has followed exactly the policies of the Greek, Spanish, and French socialists into an election year prior to their countries’ crises. The strategy involves inflating the GDP through excessive government spending, creating an uncontrollable deficit during a period of economic recovery, and masking employment through government jobs financed by increased debt. In the process, the printing of money results in the highest inflation in decades. https://activistpost.com/2024/11/how-do-you-create-a-recession.html

The second largest primary growth sector was the public sector, which has become a fixture on this list. Public sector GDP grew 0.3% in July, marking the 7th consecutive advance. Stat Can notes the biggest driver within the sector was public administration, in particular those for local, municipal, and regional governments https://betterdwelling.com/canadian-gdp-has-never-contracted-like-this-outside-of-a-recession/

The Canadian economy is falling further behind population growth, even as the population slows. Real GDP grew 0.2% in July beating expectations but failing to match population growth. National Bank of Canada warns per-capita GDP has seen a cumulative decline of 3.9% since 2022. That makes this the sharpest non-recession erosion of economic output. https://betterdwelling.com/this-weeks-top-stories-canadian-real-estate-investors-undeterred-gdps-recession-like-plunge/

A new research note from BMO Capital Markets warns that young adults are facing the “gruesome twosome”—soaring unemployment and unaffordable housing. The combination has created an environment on par with the country’s worst recessions. Canadian unemployment is rising at an unusually rapid pace—but almost exclusively for young adults. The youth (15-24 years old) unemployment rate has climbed to 14.5% in August. Outside of the recent pandemic, this is the highest level in over a decade. https://betterdwelling.com/canadian-young-adults-face-soaring-unemployment-unaffordable-housing-bmo/

It takes time for rate cuts to work, but time has expired. It’s too late for cuts to save the economy. So Trump should welcome a half-point cut (privately). A half-point cut is all but admission that a recession has started. It may even spook the market, further helping Trump. BLS Negative Job Revisions 15 of Last 21 Months, For further economic discussion, please see BLS Negative Job Revisions 15 of Last 21 Months. I recap a slew of indicators all screaming one thing: Recession. https://www.zerohedge.com/political/if-fed-cuts-rates-half-point-should-trump-complain-rejoice-neither-or-both

According to some “experts,” there is an urgent need to remove cash from the economy. It is held that cash provides support to the “shadow economy” and permits tax evasion. Another justification for its removal is that, in times of economic shocks, which push the economy into a recession, the run for cash exacerbates the downturn—it becomes a factor contributing to economic instability. Moreover, it is argued that, in the modern world, most transactions can be settled by means of electronic funds transfer. Money in the modern world is allegedly an abstraction. https://www.activistpost.com/2024/09/the-regimes-war-on-cash-could-destroy-the-economy.html

Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with government spending making up 80% of the quarter’s growth. The growth rate is also advancing slower than the population, resulting in the 7th quarterly decline for per-capita GDP in the past 2-years. Canada may not technically be experiencing a recession, but it’s acting like it’s smack in the middle of one. https://betterdwelling.com/this-weeks-top-stories-canada-slows-population-growth-toronto-new-home-demand-tanks/

Martin Armstrong says, “We are in a period of great uncertainty. . .. When people are uncertain, they don’t spend. They save. That’s what happens in a depression and a recession..." https://www.zerohedge.com/political/were-looking-serious-civil-unrest-regardless-who-wins-martin-armstrong-fears-post