March 05, 2019

Canada's economy teeters on recession, but cannabis sales increase!

Ezra LevantRebel Commander

On last night's episode of The Ezra Levant Show, I reported on troubling economic growth rates that show Canada's economy heading towards a recession.

Who would invest here, rather than in Donald Trump’s America? Like him or hate him, you know he’s not going to make you do a feminist analysis of your steel mill before approving it.

As Margaret Thatcher once said, "socialism only works until you run out of other peoples money".

Alberta is broke — and heading back into a second NDP recession. The rest of the country is tipping into a recession. Trudeau and Morneau had already been spending tens of billion of dollars in deficits. What will they do now? And here comes Donald Trump’s Buy American trade barriers.

According to The Financial Post:

Canada’s terms of trade — a comparison of the prices of exports versus the prices of imports — saw its biggest drop since early 2009, the report said. It fell 3.6 percent in the fourth quarter, which was mostly due to a 34.3 percent decline in crude exports.”

Oh. Well, who likes crude oil anyways, am I right? Let’s get that down to zero — that’s what “phase it out” means.

The lower GDP figure for all of 2018 reflected a slowdown in most categories, including weaker results for household consumption, business investment and housing investment, which contracted 2.3 percent. The agency said the drop in housing investment coincided with rising interest rates and stricter mortgage rules came into force.

In December, economic growth contracted 0.1 per cent for the second consecutive month and the third decline in four months.”

The third decline in four months? Almost in a recession. But hey gang — there’s great news. The one policy success for Trudeau — the one thing he was really passionate about, the one thing he really cares about:

Household spending on marijuana, at an annual rate, totaled $5.9 billion in the fourth quarter — with illegal pot accounting for $4.7 billion of the total and legal weed representing $1.2 billion.

“Cannabis accounted for 0.5 percent of total household spending,” the report said of the quarterly numbers. “And non-medical cannabis accounted for 11.2 percent of spending on alcohol, tobacco, and cannabis.”

So everything’s declining. Real work is declining. Real things — construction, oil, gas, building cars. It’s all declining. We’ve got some inflated housing in the big cities, part of which is just money laundering for China and Russia.

But don’t worry, my dudes. Just smoke some pot, and do your part for the economy — and it’ll all be super.

Comments
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commented 2019-03-05 19:04:34 -0500
94 days and no sign of a hammer falling.
commented 2019-03-05 17:51:24 -0500
Keith Barnes – taxpayers are likely paying for the PM’s pot!
commented 2019-03-05 14:25:46 -0500
Heading for recession? When the Turdhole Carbon tax kicks in, it will be a freefall! Don’t worry, be happy! Just light up another joint!
commented 2019-03-05 13:28:50 -0500
Anyone could see this coming 4 years ago . . . turning the country over to a “Hair-do” and and an “Envirofascist” . . . it was all predictable.

39% of dopy Canooks voted themselves off the island . . .

Remember when . . . .
World’s Richest Middle Class . . . NY Times
World’s Best Reputation . . . Reputation Institute
Best Wage Growth in G7 Nations . . . 2007-2012
Best Oilfield Salaries in the World . . .
Best Oilfield Enviro Regs in the World . . . Harvard Bus School
Best Country to do Business . . . . Forbes
World’s Best Debt to GDP Ratio , . . OECD

This is likely NEVER coming back . . . .
commented 2019-03-05 11:27:36 -0500
Trudeau doesn’t need oil and gas or manufacturing,he’s rolled the dice and bet our economy on pot-what a DOPE!!!!
commented 2019-03-05 11:10:18 -0500
I wonder how much Trudeau has invested in retailing weed. Bet he gets his at cost.