{"id":2237,"date":"2024-08-01T18:17:01","date_gmt":"2024-08-01T18:17:01","guid":{"rendered":"https:\/\/trusteconomics.eu\/?p=2237"},"modified":"2024-08-01T18:17:01","modified_gmt":"2024-08-01T18:17:01","slug":"canadas-standard-of-living-is-collapsing-and-resembling-europe","status":"publish","type":"post","link":"https:\/\/trusteconomics.eu\/index.php\/2024\/08\/01\/canadas-standard-of-living-is-collapsing-and-resembling-europe\/","title":{"rendered":"Canada&#8217;s standard of living is collapsing and resembling Europe"},"content":{"rendered":"\r\n<p>Canadians didn&#8217;t think the EU-US-NATO rot would touch them. However, they were wrong. They themselves put a huge amount of blame on the neoliberalism of Prime Minister Justin Trudeau, who started as a &#8220;fresh young man&#8221; and ended up being the citizens&#8217; nightmare. In particular, having learned well in an impeccable state that operates on merit, the citizens of the country feel the word &#8220;uncertainty&#8221; for the first time.<\/p>\r\n\r\n\r\n\r\n<p>It&#8217;s not just the significantly lower purchasing power, the strikes\/protests that have taken place, the discontent. Trudeau has normalized political correctness, taking away the freedom of speech the country has been proud of for decades.<\/p>\r\n\r\n\r\n\r\n<p>Canada&#8217;s standard of living is on track for its worst decline in 40 years. The Fraser Institute&#8217;s research (&#8220;<a href=\"https:\/\/www.fraserinstitute.org\/article\/canada-living-standards-falling-behind-rest-of-developed-world\">Canada living standards falling behind rest of developed world<\/a>&#8220;) compared the three worst periods of decline in Canada in the last 40 years:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>the recession of 1989,<\/li>\r\n\r\n\r\n\r\n<li>the global financial crisis of 2008 and<\/li>\r\n\r\n\r\n\r\n<li>the current post-pandemic era.<\/li>\r\n<\/ul>\r\n\r\n<p>It found that, unlike previous recessions, Canada is not recovering this time. In fact, as of 2019 Canada had the worst growth of 50 advanced economies, while inflation-adjusted wages in Canada have been flat since 2016. At the same time, Canada&#8217;s real GDP per capita is still falling, and with a looming US recession &#8211; the US accounts for 75% of exports &#8211; Canada could collapse again before it even recovers.<\/p>\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Incomes are at the West Virginia level.<\/li>\r\n\r\n\r\n\r\n<li>Home prices are at the Los Angeles level.<\/li>\r\n\r\n\r\n\r\n<li>It is not uncommon for a middle class family in Canada to pay half of their income in taxes.<\/li>\r\n\r\n\r\n\r\n<li>Since the pandemic, Canada&#8217;s official food inflation has risen by a cumulative 25% and energy by 30% &#8211; thanks in part to the carbon tax.<\/li>\r\n\r\n\r\n\r\n<li>The cost of living has risen noticeably.<\/li>\r\n\r\n\r\n\r\n<li>Corporate bankruptcy filings increased by 40% in 2023.<\/li>\r\n\r\n\r\n\r\n<li>Half of Canadians have zero savings for a hard time.<\/li>\r\n\r\n\r\n\r\n<li>Canada&#8217;s violent crime rate has increased by 40% since 2014.<\/li>\r\n\r\n\r\n\r\n<li>42% of Canadians are considering moving to another country.<\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"<p>Canadians didn&#8217;t think the EU-US-NATO rot would touch them. However, they were wrong. They themselves put a huge amount of blame on the neoliberalism of Prime Minister Justin Trudeau, who started as a &#8220;fresh young man&#8221; and ended up being the citizens&#8217; nightmare. In particular, having learned well in an impeccable state that operates on &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[769,57,771,772,770],"class_list":["post-2237","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-gdp","tag-gdp-per-capita","tag-real-gdp","tag-standard-of-living"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/2237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/comments?post=2237"}],"version-history":[{"count":2,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/2237\/revisions"}],"predecessor-version":[{"id":2239,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/2237\/revisions\/2239"}],"wp:attachment":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/media?parent=2237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/categories?post=2237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/tags?post=2237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}