Canada’s economy grew by a greater-than-expected 0.3% in May and looks set to turn in its best annualized quarterly performance for more than three years, official data indicated on Friday.
…
[The growth] indicates annualized second-quarter growth of 3.4%, significantly higher than the Bank of Canada’s July 15 forecast of 2.5%, and the highest annualized quarterly increase since the 4.3% seen in the first three months of 2023.
The central bank left its benchmark overnight rate unchanged at 2.25% on July 15 and said growth would strengthen in the second half of the year as inflation pressures eased and firms continued to adapt to U.S. tariffs.
“The economy appears to have found ways to navigate the current cloud of uncertainty relating to trade with the United States,” said Royce Mendes, managing director and head of macro strategy at Desjardins.
…
“That’s good news!” said the homeless, standing in soup lines.
Those soup lines will start getting shorter with this progress. Canada needs to make money if it wants to solve its problems. Imagine growth, during a recession, while dealing with the orange turd posse’s unpredictability to the south as we navigate away from relying on American spending for our goods and services. It’s kind of impressive really.
A bunch of rich assholes making more money usually makes the soup lines longer these days, not shorter.
Money being made doesnt mean anything if it isnt going where it should be
Money ain’t a solution, it’s a middleman with questionable value. We need a major system change that focuses less on money (or amounts of money/profit) and more on ecology, progress and humanity. We run around in money circles over and over again while things get steadily worse. Reminds me of this scenarios…“Well, we have the shovels and we have the men and we can feed them, clothe them and house them, but we ain’t got the money”.
So how do we keep track of ecology, progress and humanity, in such a complicated system? Maybe we could make some kind of tokens representing it, and then require everyone to maintain a positive flow of tokens. Realistically, there’s going to be an unavoidable shortfall somewhere, but if whatever activity is worthwhile, you could still make it up somewhere else.
Oh wait, that’s money.
Toronto LRT had 118 vice presidents at one point. Canada suffers from an excess of white collar bullshit jobs.
It would be nice if the less-than-needed jobs could be cut and the needed jobs split more evenly among everyone able to do so. I’d love a 5 day weekend, or to be able to imagine retirement as a possibility.
I agree with you that our system needs to focus more on progress, ecology and humanity. An ideal country ought to have policies where these are the paramount foci. But we don’t live in that ideal society sadly, as we’re a bunch of humans. Without incentive, we don’t make things happen as individuals or as a collective. We need to make that money so we can have good things again. People won’t do much for free, and money is still the best reward for effort, regardless of its value to you. That money opens up more options for a future government that’s more in line with what we’d both like to see.
Let’s be real, these companies aren’t hiring people off the street. I think the guy wearing his underwear on the outside of his pants is going to have some friction in the interview process.
Of course, but the services he needs will be more likely to be in place thanks to the increased tax revenue as the jobs market picks up.
It sounds like you’re taking about a homeless person with a debilitating mental health issue, but there are many unemployed who have employable skills that would benefit from this news. The homeless people with these mental issues will never be employable regardless of the economy, so I think you need to figure out what you’re trying to argue here.
Not true when services are being cut
Also not true for a lot of people if they were actually supported.
Services are being cut for two reasons: we’re in a recession and we need to triage, and people aren’t so keen on the policies being cut as they are for those remaining in place. This means that essentials stay, and perks get dropped. Sadly, those perks usually most benefit the ill and downtrodden, as those resources/services are very cost intensive for the return to society.
You’re right about my comment on unemployable. That wasn’t said properly. If we were fully funded, warning signs would be caught earlier and supports would be put in place to keep the individual as a contributing member of society.
Cutting services isn’t “triage” if it impacts the most vulnerable and poor. Triage would be cutting tax breaks for multi billion dollar oil corporations and raising taxes on the wealthiest people in the country.
Fun fact, the class with the biggest share of the country’s wealth, is also the one most on Lemmy.
Like, sure, that probably is the answer, but let’s not pretend there’s some kind of distant, invisible group of billionares that will be the only ones effected. And that’s why it’s hard for politicians to actually raise taxes.
Wealth taxes are actually very popular. The reason they aren’t implemented is because libs and Tories are captured by capital