Recession coming?

[Frankfooter]

Lots of looming job cuts in Ontario and Canada.

10,000 teachers at colleges in Ontarion, DoFo lost more manufacturing and Carney is planning massive cuts.
More stupid tariffs won't help either.

https://www.cbc.ca/news/canada/toronto/ontario-college-layoffs-1.7581037

https://www.cbc.ca/news/politics/trump-copper-tariffs-1.7579874

https://twitter.com/i/web/status/1943195286324559996

https://twitter.com/i/web/status/1943020135117209694

 

[K Douglas]

You can thank inept federal Liberal leadership for this. For years they fucked up the US Canada relationship and now we're paying the price. For decades the engine of the Ontario economy was based on exports to the United States. I guess elbows up turned into broken elbows.

 

[Frankfooter]

You can thank inept federal Liberal leadership for this. For years they fucked up the US Canada relationship and now we're paying the price. For decades the engine of the Ontario economy was based on exports to the United States. I guess elbows up turned into broken elbows.

Blame DoFo for Ontario.
He fucked up manufacturing.
He fucked up the colleges.
He fucked up Ontario Place.
He fucked up health care.

What Carney is doing is shitty and not what voters backed.
Nobody voted to gut social services to buy more army at a time when they have their own issues.

https://www.cbc.ca/news/politics/mcguinty-rcmp-militia-members-plot-1.7582071

https://twitter.com/i/web/status/1942577829792887174

 

[onthebottom]

How much is Carney proposing to spend on military, what is Canada sending to Ukraine?

 

[richaceg]

How much is Carney proposing to spend on military, what is Canada sending to Ukraine?

Reason Franky is pissed is because Carney pledged 5% on NATO...big potential when US starts it's campaign with Israel to give a deepanal probing on Iran's nuke program...NATO will eventually join that campaign...

Canada joins new NATO Defence Investment Pledge

Today, the Prime Minister, Mark Carney, announced that Canada and its North Atlantic Treaty Organization (NATO) Allies have agreed to a new Defence Investment Pledge of investing 5 per cent of annual GDP by 2035 to ensure our individual and collective security. The commitment aligns with...

www.pm.gc.ca

 

[jalimon]

How much is Carney proposing to spend on military, what is Canada sending to Ukraine?

The money is spent on our Canadian military. Just like in the US.

So that is not to blame for the current economy. That said. Should the money be better spent on housing? Yes.

 

[jalimon]

Reason Franky is pissed is because Carney pledged 5% on NATO...big potential when US starts it's campaign with Israel to give a deepanal probing on Iran's nuke program...NATO will eventually join that campaign...

The pledge all countries made to NATO was to please dictator Trumpy. All country will TACO on it. They learned that practice from the TACO king himself.

 

[richaceg]

The pledge all countries made to NATO was to please dictator Trumpy. All country will TACO on it. They learned that practice from the TACO king himself.

So you're saying all th ese world leaders just kissing TACO king's ass? that's not a good ass to kiss...that's wrinkly and aged...
Melania though...

 

[Frankfooter]

Reason Franky is pissed is because Carney pledged 5% on NATO...big potential when US starts it's campaign with Israel to give a deepanal probing on Iran's nuke program...NATO will eventually join that campaign...

Canada joins new NATO Defence Investment Pledge

Today, the Prime Minister, Mark Carney, announced that Canada and its North Atlantic Treaty Organization (NATO) Allies have agreed to a new Defence Investment Pledge of investing 5 per cent of annual GDP by 2035 to ensure our individual and collective security. The commitment aligns with...

www.pm.gc.ca

I'm pissed because Carney didn't campaign cutting social services to pay for a bigger military.

https://twitter.com/i/web/status/1942303290512834652

 

[Frankfooter]

The pledge all countries made to NATO was to please dictator Trumpy. All country will TACO on it. They learned that practice from the TACO king himself.

That would be fine, but to announce it with massive cuts at the same looks really, really bad.

And boosting funding of the military in the same week when 3 military were charged with terrorism looks like a bad idea.

https://www.cbc.ca/news/politics/mcguinty-rcmp-militia-members-plot-1.7582071

 

[jalimon]

That would be fine, but to announce it with massive cuts at the same looks really, really bad.

Well, with Trump, absolutely nothing makes sense. Because the US gave power to that pure imbecile, they all need to play along to flatter his ego. The country mostly hurt by Trump is by far the US, so Carney is only playing along. No other choice.

 

[Frankfooter]

Well, with Trump, absolutely nothing makes sense. Because the US gave power to that pure imbecile, they all need to play along to flatter his ego. The country mostly hurt by Trump is by far the US, so Carney is only playing along. No other choice.

I agree playing along is the best tactic. Bullshit the bullshitter.
But there is no need to announce massive service cuts if you are bullshitting. That just looks like its what he wanted to do but wouldn't campaign on.

Austerity is the stupidest economic model since the great depression.

https://twitter.com/i/web/status/1942982490890645995

 

[Ceiling Cat]

Is a recession coming?

I believe we may already be in the early stages of one, and the worst could still be ahead. The global economy is still reeling from the aftershocks of the pandemic, which forced governments everywhere to drain their treasuries just to keep basic systems functioning and citizens afloat.
Now, we’re facing another destabilizing force, the return of Trump-era, self-serving, and heavy-handed economic policies that prioritize short-term political gain over long-term stability. These draconian decisions risk plunging us further into an economic tailspin.
Across industries, businesses are already seeing reduced traffic and lower revenues. In response, they're cutting costs, reducing their workforce and turning increasingly toward automation and mechanization.
The average consumer is retreating into financial survival mode. Discretionary spending is drying up. Luxuries are off the table. People are tightening their budgets and spending only on necessities. Food, shelter, fuel. Confidence in the economy is low, and when people feel uncertain about tomorrow, they stop spending today.
The signs of recession aren't just looming on the horizon, they're already here. The question now is how deep and how long this cycle will go before meaningful recovery begins. I suspect the earliest we will see recovery is in 5 years and it will take another 5 years after that before we return to anything that resembles a year 2020 economy.

Well, with Trump, absolutely nothing makes sense. Because the US gave power to that pure imbecile, they all need to play along to flatter his ego. The country mostly hurt by Trump is by far the US, so Carney is only playing along. No other choice.

The core supporters of Trump’s MAGA utopian dream are largely made up of working-class Americans. Truck drivers, farmers, coal miners, and other laborers who’ve faced increasing hardship in a changing economy. Many of them longed for a return to a simpler, more secure vision of America. An economy that resembled the stability and prosperity of the 1950s and 60s. Trump tapped into that nostalgia and frustration, promising to restore what they felt had been lost.
He vowed to revive small businesses, take care of retirees and near-retirees, and repeal and replace Obamacare with a better health care plan. One that would include a prescription drug program to bring down soaring medication costs.
Trump planned to fund these promises by imposing tariffs, particularly on imports from China and other nations. In practice, the American consumer would be paying the tariffs as importers would pass on the extra expense through higher prices on imported consumer goods.
Mark Carney (and other world leaders) have taken a more measured approach, strengthening economic alliances with other countries and waiting out Trump’s volatility, aiming to preserve long-term stability in the global economy.
With midterm elections approaching, Trump’s grip on power may weaken. If he loses control of Congress, his ability to push forward with his agenda will be significantly reduced. But if he manages to hold on, the country may be in for a prolonged and divisive political ride. Maybe news from the from the Epstein files might finally deliver a blow to his influence.
Trump sold a dream, to people who genuinely feel they’ve been left behind.

 

[bver_hunter]

At least some good news to prolong this recession, if Trump goes ahead with his Tariff-Freak policy:

Canada's economy added 83K jobs in June, muting chance of a BoC rate cut
Jobs figures beat economists' expectations; unemployment rate dropped to 6.9%

Canada's economy added 83K jobs in June, muting chance of a BoC rate cut

The surprise results make a Bank of Canada interest rate cut less likely, economists say, and will likely move the focus to upcoming inflation data.

ca.finance.yahoo.com

 

[Frankfooter]

At least some good news to prolong this recession, if Trump goes ahead with his Tariff-Freak policy:

Canada's economy added 83K jobs in June, muting chance of a BoC rate cut
Jobs figures beat economists' expectations; unemployment rate dropped to 6.9%

Canada's economy added 83K jobs in June, muting chance of a BoC rate cut

The surprise results make a Bank of Canada interest rate cut less likely, economists say, and will likely move the focus to upcoming inflation data.

ca.finance.yahoo.com

Except in Ontario, where DoFo is again failing massively. Manufacturing is declining and he is responsible for 10,000 college job losses.

https://twitter.com/i/web/status/1944011318790697235

https://twitter.com/i/web/status/1943641510332821859

 

[optimusprime69]

I'm pissed because Carney didn't campaign cutting social services to pay for a bigger military.

https://twitter.com/i/web/status/1942303290512834652

He's only doing this at the behest of Doug Ford who is the real problem here. He's gotta go.

 

[onthebottom]

Reason Franky is pissed is because Carney pledged 5% on NATO...big potential when US starts it's campaign with Israel to give a deepanal probing on Iran's nuke program...NATO will eventually join that campaign...

Canada joins new NATO Defence Investment Pledge

Today, the Prime Minister, Mark Carney, announced that Canada and its North Atlantic Treaty Organization (NATO) Allies have agreed to a new Defence Investment Pledge of investing 5 per cent of annual GDP by 2035 to ensure our individual and collective security. The commitment aligns with...

www.pm.gc.ca

‘isn’t Spain the only one not pledging to meet the target.

id bet Canada doesn’t meet its commitment.

 

[Uwauwa]

we got what we voted for

 

[someone]

I'm pissed because Carney didn't campaign cutting social services to pay for a bigger military.

https://twitter.com/i/web/status/1942303290512834652

The Edward guy in your post is wrong on a number of grounds. My understanding is that the numbers are cumulative. E.g. the 7.5% goes up to 10%, it is not an additional 10%. Moreover, there are so many exemptions, it only applies to less than half of expenditures.

 

[Frankfooter]

The Edward guy in your post is wrong on a number of grounds. My understanding is that the numbers are cumulative. E.g. the 7.5% goes up to 10%, it is not an additional 10%. Moreover, there are so many exemptions, it only applies to less than half of expenditures.

No, I don't think you are right.
As CBC reports:

Sahir Khan, executive vice-president at the Institute of Fiscal Studies and Democracy at the University of Ottawa, estimates that when those areas are carved out, the government is targeting a pot of money that is about $180 to $200 billion of the $570 billion it will spend this year.

https://www.cbc.ca/news/politics/carney-spending-review-cuts-1.7582889